BOCA RATON, Fla.--(BUSINESS WIRE)--Incapital LLC, a leading underwriter and distributor of fixed income securities and risk management investment solutions, today announced that it has hired two industry veterans to expand its fixed income platform and continue the firm’s institutional growth strategy. Incapital’s newest team members are Michael J. Stevens and Michael J. Communiello—both join the firm as Managing Directors, Preferred Securities Sales & Trading and will report to Laura Elliott, co-head of fixed income.
“We are excited to leverage the expertise of these top talents as we help our clients meet the demands of today’s shifting market conditions,” Ms. Elliott said. “Together, they will lead, enhance and grow our presence in preferred securities, which are a natural fit for our existing distribution networks.”
Over the past eight months, Incapital has added 13 new senior professionals to its fixed income team to expand its client-centric platform across the fixed income spectrum.
About the new hires:
- Michael J. Stevens joins the firm from Brownstone Investment Group, where he served as a Director of Preferred Securities Trading. Previously, he traded preferred securities for Incapital from 2014 to 2016 and for Susquehanna International Group from 2011 to 2014. Prior to joining Susquehanna in 2011, Mr. Stevens was a Managing Director of Preferred and Credit Securities at Kellogg Partners. He also held similar positions at Goldman Sachs and Legg Mason. Mr. Stevens brings more than 40 years of experience to Incapital. He starts on June 3, 2020 and will be based in New York City.
- Michael J. Communiello joins Incapital from Brownstone Investment Group, where he served as a Director of Preferred Securities Trading and managed the Hybrid & Preferred Securities Trading Desk. Between 2000 and 2008, Mr. Communiello worked in many capacities at Spear, Leeds & Kellogg and was appointed as the Head of Preferred Securities following Goldman Sachs’ sale of the SLK fixed income group to FTN Financial in 2006. Mr. Communiello then held various Sales-Trading positions at Maxim Group and The PrinceRidge Group (JVB Financial). He brings 20 years of industry experience to the firm and begins on June 1, 2020. Mr. Communiello will be based in New York City.
“We’re excited about building our best-in-class fixed income platform with the hiring of more than a dozen senior professional over the past eight months,” Ms. Elliott added. “We’ve strengthened our positioning in an increasingly competitive environment and are poised to experience continued growth across our business.”
Incapital was founded 20 years ago and today is a leading underwriter and distributor of securities to more than 500 broker-dealers, institutions, asset managers, RIAs and banks. The firm represents more than 300 issuing entities and has underwritten more than $500 billion in securities. Incapital has principal offices in Boca Raton, FL, and Chicago. Further information is available at www.incapital.com.