Academy Securities Bolsters Municipal Franchise with Veteran Hires
Event summary
- Academy Securities appointed Michael Hayes as Managing Director, Head of Municipal Trading, and Brian Curci as Managing Director, Head of Municipal Sales on September 30, 2026.
- Hayes brings 15+ years of municipal bond market experience, most recently from Fifth Third Securities.
- Curci joins from Fifth Third Securities with 15+ years in municipal bond industry, specializing in institutional sales.
- Both executives will focus on expanding Academy's municipal franchise, enhancing liquidity, and growing the secondary trading desk.
The big picture
Academy Securities is doubling down on its municipal bond capabilities amid growing institutional demand for public finance products. The hires come as the firm seeks to carve out a larger share of the $3.9 trillion municipal bond market, where liquidity and distribution networks are key competitive advantages. The appointments also reflect a broader trend of specialized talent migration among mid-tier investment banks vying for market position.
What we're watching
- Execution Risk
- Whether Academy can integrate Hayes' and Curci's expertise to drive measurable growth in municipal trading volume and market share.
- Competitive Positioning
- How Academy's veteran-owned status and geopolitical intelligence group will differentiate it in the crowded municipal bond market.
- Strategic Expansion
- The pace at which Academy expands its secondary trading desk and increases distribution among Tier 1 and Tier 2 municipal investors.