Incapital, the Chicago-based investment firm run by Chicago Cubs owner Tom Ricketts, announced on Tuesday that it will open an institutional sales office in Salt Lake City, Utah.
Additionally, the firm has appointed two vice presidents to its institutional sales team — William Money and Marcus Nield — to run the office.
The firm will maintain it offices in Boca Raton, Fla. and Chicago. It has approximately 170 employees.
“We are pleased to welcome Bill and Marcus to the institutional sales team as we expand Incapital’s presence to a new region in the U.S.,” John Radtke, CEO of Incapital, said in a statement. “We view this as an instrumental step in growing our institutional sales base nationwide.”
Incapital, founded in 1999 by Ricketts, who currently serves as the firm’s chairman in addition to his role with the Cubs, began by offering corporate bonds through brokerage firms to investors, as most recently has moved into offering structured notes and CDs, mortgage-backed securities, municipal bonds, unit trusts and annuities.
Money and Nield will report to Tom O’Hallaron, managing director of institutional sales at Incapital. Money has more than 25 years of experience working in the fixed income institutional sales space, and joins Incapital from Pierpont Securities. He also held prior roles at Paine Webber, Zions and Advest.
Nield joins Incapital with 13 years’ experience in the institutional sales market and was most recently employed by Pierpont Securities. Prior to Pierpont Securities, Nield was with Zions Bank Capital Markets.
“Bill and Marcus’ combined experience and expertise in this market will be instrumental to Incapital’s ongoing efforts to better serve the institutional investor community,” O’Hallaron added. “We look forward to bringing these industry veterans on board.”