Dain Bosworth Inc. has absorbed the Salt Lake public finance employees of Ehrlich Bober & Co., a municipal bond broker/dealer that closed its Salt Lake office Oct. 9 when the New York-based company eliminated its bond subsidiary.
"This is a very opportunistic investment for Dain. Obviously, we have high regard for the investment banking and municipal bond opportunities in the Utah and Idaho region," said Nelson D. Civello, Dain Bosworth executive vice president and director of the fixed income group."Our preferred method of entry into a new market is to research and locate an existing successful regional operation. We have found that group in Salt Lake City, and we are looking forward to combining the strengths and expertise of these professionals with the resources and reputation of Dain Bosworth."
Cheryl D. Cook, vice president and manager, will head the office and brings 14 years of investment baking and public finance experience to Dain. She established Ehrlich Bober & Co.'s the Salt Lake office in 1987, building clientele in state, county and municipal government. She was formerly treasurer of Salt Lake City Corp.
Dale Carpenter, an investment banker who joined the Salt Lake City office in 1989, also is joining Dain. He was formerly president of DBC Development and was executive director of the Utah Department of Community and Economic Development.
The third professional on Dain's new public finance team is Bruce D. Williams, an investment banker with experience marketing services to state, county and municipal clients. He joined Ehrlich Bober in 1988.