Janney Adds Five to Fixed Income Group

Janney Montgomery Scott is further beefing up its fixed income team with the addition of five new hires, the company announced.

The company said the new employees will work in municipal sales, taxable sales, and retail mortgage trading.

They are:

  • Mike Festa, Director, Institutional Municipal Sales
  • Dan Lang, Institutional Municipal Sales
  • Brian Doherty, Institutional Taxable Sales
  • Wayne Wales, Institutional Taxable Sales
  • Dan Herbst, Retail Mortgage Trader

“These are game-changing hires who bring top expertise and a diverse network of relationships to our firm,” said Steve Genyk, Managing Director and Head of Fixed Income at Janney, in a news release.

Festa will serve as Director of Institutional Municipal Sales in Janney’s Boston office. With nearly 25 years of experience in municipal sales, Festa began his institutional career with Dean Witter, before working for Kemper Securities and Legg Mason. He joins Janney most recently from Keybank Capital Markets. Festa holds a BA in economics from Harvard University.                    

Lang brings nearly a decade of industry experience to Janney. Prior to joining the firm, he worked in institutional sales with Keybanc Capital Markets and Legg Mason Wood Walker. Lang graduated in 1999 from The College of the Holy Cross, in Worcester Massachusetts, with a BA in English and a minor in economics. He will be working in Janney’s Boston office.

Doherty joins Janney with nearly 15 years of industry experience. He previously served as the Vice President of Fixed Income Sales at three firms: Raymond James & Associates, Daiwa Securities America Inc., and Spear, Leeds, & Kellogg (subsidiary of Goldman Sachs). Doherty is a graduate of Cornell University and will be working in Janney’s Boston office.

Wales joins Janney from Stifel Nicolaus & Co. Inc., where he served as First Vice-President of Fixed Income Sales. He comes to Janney with nearly 25 years of experience trading and selling mortgage-backed securities. He holds a Bachelor of Arts degree from Villanova University and works in Janney’s Philadelphia headquarters.

Herbst joins Janney with over 12 years of retail fixed income experience and will serve as a Retail Mortgage Trader in the Firm’s Philadelphia office, where he will join the current retail trading team in the servicing the taxable fixed income needs of Janney’s Private Client Group. Most recently, he served as Senior MBS Trader at LPL Financial where he covered the largest independent adviser force in the country. Previously, he was at Edward Jones & Co. on its government trading desk. A graduate of Miami University of Ohio, Herbst holds his BS in finance.