Hilltop hires high-yield housing origination team from BB&T

BY SourceMedia | MUNICIPAL | 09/16/20 03:40 PM EDT By Richard Williamson

Hilltop Securities Inc. has hired Stephen Coma as managing director for debt capital markets to lead the firm?s high-yield housing origination group, which will expand with the hiring of four other executives.

Coma joined Hilltop from Truist Securities, previously known as BB&T Capital Markets, where he was managing director.

Four other executives from BB&T will work with Coma's high yield housing origination group: Managing Director Adriane Evans, Director Michelle Le, Assistant Vice President David Prieto and analyst Wei Fan.

Coma, Le, Prieto, and Fan will work at Hilltop?s Charlotte, North Carolina, office and Evans will operate from Sarasota, Florida. The group reports to Mike Bartolotta, senior managing director and head of Dept Capital Markets.

?We?ve been working to expand the value our debt capital markets division brings to public and private sector clients,? said Hilltop chief executive Brad Winges. ?Under Steve?s leadership, our new high yield housing origination group better positions Hilltop Securities to continue growing as a leading municipal investment bank.?

Coma and the new group will coordinate and structure high-yield housing transactions for clients nationwide.

?In this day and age, high-yield bond issuance is a very relationship-driven business,? said Bartolotta. ?Steve and his team understand the complexities of this sector and will play a pivotal role in helping HilltopSecurities expand in each market across the country.?

Truist was created in December by the merger of Charlotte-based BB&T Corp. and Atlanta-based SunTrust Banks Inc. The merger created the nation's sixth-largest bank.

During his 15 years at BB&T, Coma led formation of the housing and specialty finance group. He has 25 years of experience in structured finance. He is a graduate of Princeton University and earned his M.B.A. from the University of Chicago.

During her nine years at BB&T, Evans held senior-level leadership roles including managing director and senior vice president of debt capital markets. Prior to joining BB&T, she held senior vice president roles at Stern Brothers and Ziegler. Evans has more than 30 years of experience in fixed income. She received a bachelor?s degree in international affairs from Florida State University.

Le has more than 15 years of experience in developing financing structures. She was senior vice president at BB&T, where she managed the new business line of housing and specialty finance in the high yield tax-exempt space. She earned a bachelor?s degree in quantitative economics from Tufts University and an M.B.A. from Duke University.

Prieto was a housing and specialty finance investment banking assistant vice president at BB&T, where he managed the structuring of high-yield bond transactions. He earned his bachelor?s degree in business administration with a concentration in finance and investments from the University of North Carolina.

Fan was an investment banking analyst at BB&T. He earned a bachelor of science in economics with a concentration in finance from Duke University.

Hilltop Securities is a full-service investment bank and registered investment adviser headquartered in Dallas, with offices across the United States.

In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.