Blaylock Van expands muni banking team

Blaylock Van, a Black-owned banking firm, continues to expand its muni efforts by hiring the tax-exempt muni sales and trading team from Seaport Global, a privately held capital markets firm.

The three executives, Kudzai Jones, Jason Carpenter and PJ Richardson, set to start in January, bring Blaylock Van’s muni team up to 20 employees, said Leonard Jones, executive director of municipal banking and head of public finance at Blaylock Van. Around 50 employees work at the banking firm, Jones said.

The firm said Blaylock Van is bolstering its overall institutional capabilities and reaffirming its commitment to the muni market with the new hires.

This move is an extension of the 2022 announcement of a “strategic alliance” between Blaylock Van and Seaport Global, the release said.

“The expansion of our tax-exempt muni sales and trading team at BV greatly increases our distribution capabilities in this key market segment. Further, this enables meaningful synergies with BV’s significant underwriting capabilities,” said Eric Van Standifer, founder and CEO of Blaylock Van, in a statement.

“Today’s announcement marks a noteworthy milestone in the progression of this original venture, emphasizing the steadfast dedication of both firms to nurturing a successful partnership and delivering excellence in client services,” said Michael J. Meyer, partner and head of global sales and trading at Seaport Global.

Blaylock Van was founded in 2007 following the merger of Blaylock & Co. and Robert Van Securities.

Blaylock Van was initially a corporate finance firm, but expanded in 2007 and it is continuing to expand in the municipal space, said Jones, who was hired in April to grow the municipal side of the firm. Jones was previously a managing director of Moody’s Investors Service.

Since April, Blaylock Van has hired several new bankers, and Jones said he thought the firm needed to strengthen its sales and underwriting team.

The firm plans to continue grow its muni division, he said. And with Citi leaving the muni business and UBS exiting the negotiated underwriting business, this provides more opportunity for growth, according to Jones.

“We want to grow this business,” he said. “It’s a good, solid business to be in, and there are even more opportunities with a couple of the big underwriters getting out of the business.”

Certified as a Minority Business Enterprise by New York State, New York City, Wisconsin and the National Minority Supplier Development Council, Blaylock Van is 81% Black-owned. Blaylock Van serves corporations, municipalities, investment managers, and pension funds. 

The firm’s headquarters are in New York City, and it has offices in Atlanta, Chicago, Dallas, Miami and Oakland, Calif.