ORIX USA Corporation announces municipal market veteran Andrew Garvey has joined ORIX Municipal Finance as Managing Director to source municipal loans, leases and securities of $2 million to $50 million for ORIX’s account and to help expand the company’s municipal restructuring business. Transactions of $100 million and larger will also be targeted on a select basis.
Garvey is well known in the public finance business with more than 25 years of experience in public finance, having worked with Morgan Stanley, Lehman Brothers, Cain Brothers and Paine Webber. Garvey has a BA from Colgate University and an MBA from Harvard.
“I am excited by the opportunity to join ORIX,” said Garvey. “I expect to expand ORIX’s existing trading business via the direct origination of short-to-intermediate-term loans and leases in addition to other structured financings. I look forward to deploying ORIX’s financing expertise and capital strength to provide solutions to bankers, financial advisors, issuers, investors and other market participants.”
“Garvey is an important addition to ORIX Municipal Finance,” said Cliff Weiner, Chief Executive Officer of Municipal Finance. “Under Garvey’s leadership, ORIX plans to be more directly engaged with small issuers of non-bank eligible paper in 2011. We will also be active with our capital and restructuring expertise in distressed situations.”About ORIX USA ORIX USA is a Dallas, Texas-based financial services and investment firm with over 1,400 employees and primary offices in Dallas, New York, Los Angeles, Columbus and Minneapolis. ORIX holds approximately $5.8 billion of assets and manages through various subsidiaries an additional $23 billion. ORIX USA Corporation ( www.orix.com) is a wholly owned subsidiary of ORIX Corporation; a Tokyo-based, publicly owned international financial services company with operations in 27 countries worldwide. ORIX Corporation is listed on the Tokyo (8591) and New York (IX) Stock Exchanges.