Jeffrey Lipton has joined Oppenheimer & Co. as head of municipal-bond research in the company’s New York headquarters.
Lipton previously worked for four years as a senior muni analyst at Metlife Inc., Oppenheimer said in a statement today. Lipton, who declined to give his age, has almost three decades in the financial industry. He has also worked at Neuberger Berman and Weiss Peck & Greer.
Lipton “will be instrumental in providing municipal credit analysis and general market trends to both the high net worth and institutional investor community,” Robert Lowenthal, Oppenheimer’s global head of fixed income, said in the statement.
The need for research in the $3.7 trillion municipal market has intensified since the financial crisis, when bond insurers lost their AAA ratings. Bankruptcy filings from Detroit to Stockton and San Bernardino in California underscore the importance of researching weaker credits as investors seek extra yield with interest rates near generational lows.