Jefferies Muni Bond Chief Gibbs Leaving to Run Brooklyn Hospital

  • Gibbs to run Maimonides, Brooklyn's biggest hospital
  • Gibbs steered Maimonides into partnership with North Shore-LIJ

Kenneth Gibbs, the head of Jefferies Group Inc.’s municipal-bond department, is leaving the firm to become chief executive of Brooklyn’s biggest hospital.

Gibbs will become president and chief executive of Maimonides Medical Center at the beginning of 2016, succeeding Pamela Brier, the hospital said in a statement. Gibbs, the current chair of Maimonides’ board, will step down from that position before assuming his new role.

“Ken has excelled in a long career in public finance, and his life has been distinguished by a focus on public service, making him a perfect fit for the job,” Brier said in the release.

Since 2009, Gibbs served as president of the municipal-securities group at Jefferies, after the New York brokerage bought Depfa First Albany Securities LLC to expand into state and local finance. Richard Khaleel, a Jefferies spokesman, didn’t immediately respond to request for comment about Gibbs’ successor.

Gibbs serves on the board of the Securities Industry & Financial Markets Association and was a past chair of the industry group’s municipal securities division. Gibbs was chair of the political-action committee.

He was chief executive of Depfa First Albany at the time of its purchase by Jefferies and over the last 30 years held investment banking jobs at First Albany, Lazard Freres & Co, Credit Suisse First Boston and Kidder Peabody.

While at Sifma, Gibbs criticized the Volcker Rule, a proposal for a ban on bank proprietary trading, saying it would boost borrowing costs for states and cities.

Gibbs joined Maimonides board in May 2013 and steered the 700-bed hospital into a partnership with the North Shore-LIJ Health system. Brier made about $1.6 million in 2013, according to the non-profit hospital’s filing with the U.S. Internal Revenue Service.

A Harvard College graduate, Gibbs serves on the board of the Citizens Budget Commission, a New York City budget watchdog backed by the business community.