Connor Benoit

BY SourceMedia | MUNICIPAL | 09/30/25 09:24 AM EDT By Danielle Fugazy

Title: Senior Vice President
Firm: HilltopSecurities Inc.
Age: 32

Connor Benoit serves as a municipal investment banker and is focused on growing Hilltop's underwriting business, covering transportation and infrastructure issuers nationally.

Benoit has worked on more than 100 municipal transactions for toll road issuers, transit agencies, state departments of transportation, Garvee issuers, airports and seaports, amounting to more than $33 billion.

Benoit has also actively engaged with the U.S. Department of Transportation throughout his career and has worked on six transportation projects receiving federal loans from the Build America Bureau.

Prior to joining Hilltop in 2024, Benoit was a senior member of Citi's transportation group. He started his career there as an analyst in 2015.

While Benoit initially expected to be responsible for menial tasks, he had the opportunity to work directly with the head of Citi's transportation group, Ron Marino.

"That was a pivotal point in my career because even though my title was analyst, I was given the opportunity to take on a lot of responsibility, which led to traveling, meeting with clients and being deeply involved with transactions from beginning to end," Benoit said. "Ron was an incredible mentor and an industry icon, known as the Godfather of Transportation, and I learned everything I could from him. I learned you always do what's best for the client and treat them like people ? get a sense for who they are, what they are interested in and what they care about."

Benoit grew up in Plattsburgh, New York, and graduated from the University at Albany.

"I love the tangibility of the projects I get to work on," says Benoit. "The intersection between the public impact and the financial markets is unique and it brings a lot of good people to the same place. I really enjoy being a part of this community."

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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