Jessica Ma

BY SourceMedia | MUNICIPAL | 09/18/24 08:54 AM EDT

Title: Director
Firm: RBC Capital Markets
Age: 35

Jessica Ma, who came to RBC Capital Markets 13 years ago as a municipal finance analyst, has supported more than $25 billion of debt for some of the nation's biggest issuers, including the Dormitory Authority of the State of New York, the city of New York, and various transportation agencies.

This year, she co-led RBC's $1.075 billion DASNY school districts revenue bond deal, served as a core team member on DASNY's $2.876 billion state of New York Personal Income Tax bonds, and most recently served as the day-to-day banker on NYC Transitional Finance Authority's $1.5 billion transaction. She's also worked with other clients in the Northeast, Mid-Atlantic and Southeast regions.

"I've moved from analyst to associate to director and have been very integrated with the teams I've gotten to work with," she said. "I get to see a wide range of sectors. That's part of what I love about it."

At the same time, she's shown leadership in the public finance industry, as president of the Municipal Forum of New York's board and within RBC as co-founder of RFuture, an employee resource group for millennials and younger staff.

About 300 people showed up for an initial meeting and RBC's diversity leadership council approved Rfuture to be the U.S. employee resource group. "The goal," she said, "is to give employees an opportunity to network and learn about different areas of the organization, and cross-connect people groups."

Her longevity at RBC, she said, "is a testament to the people I get to work with."

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.

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