Commerce Capital Expands to Serve Florida Market; Former Wheat First Executive Will Head New Operation.PHILADELPHIA--(BUSINESS WIRE)--Aug. 25, 1999-- Commerce Capital Markets, Inc., a wholly-owned subsidiary of Commerce Bancorp This article is about the bank headquartered in Cherry Hill, New Jersey. For other uses, see Commerce Bank. Commerce Bancorp (NYSE: CBH), doing business as Commerce Bank (NYSE NYSE See: New York Stock Exchange Symbol:CBH CBH cutaneous basophil hypersensitivity. ), is expanding the scope of its rapidly growing public finance network to include the State of Florida. The new Commerce Capital operation will be based in Fort Lauderdale Fort Lauderdale (lô`dərdāl), residential, commercial, and resort city (1990 pop. 149,377), seat of Broward co., SE Fla., on the Atlantic coast; settled around a fort built (c.1837) in the Seminole War, inc. 1911. and also have an office in Orlando. Richard E. Juday Jr., a 20 year veteran of the municipal bond business, will serve as the Managing Director of Commerce Capital's Florida business. Prior to joining Commerce, Juday served as Senior Vice President for Jackson Securities, a former subsidiary of Wheat First / First Union's public finance operation in Florida. During his career, Juday has worked with the State of Florida and with Dade, Broward and Palm Beach Counties on a variety of public finance matters. He also has worked with the cities of Tampa, Jacksonville, Orlando and the Greater Orlando Aviation Authority Greater Orlando Aviation Authority, which manages Orlando International Airport and Orlando Executive Airport, is governed by a seven-member board: the mayor of the City of Orlando, Florida; the Chairman of the Board of County Commissioners; and five other members who are appointed . Juday will be responsible for expanding Commerce Capital's presence in Florida, where the firm currently serves Broward County at the co-manage level. "The combination of Commerce Capital's extensive public finance experience and Rick Juday's knowledge of the Florida municipal bond market will enable us to quickly establish a significant presence in Florida," said Commerce Capital Markets' CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Vincent J. Stafford. "We are looking forward to providing our clients in Florida with the same outstanding service and financial expertise that have helped us become the Mid-Atlantic region's leading public finance firm." Opening a Florida office reinforces Commerce Capital's drive to expand the scope of its public finance business beyond the Mid-Atlantic region. Earlier this year, Commerce Capital Markets was selected to the underwriter pools for a variety of state-level authorities in California. Commerce Capital Markets is headquartered in Philadelphia and has regional offices in Cherry Hill Cherry Hill, township (1990 pop. 69,319), Camden co., W central N.J.; name was changed from Delaware township to Cherry Hill in 1961. Largely residential, Cherry Hill has been marked by great development and housing growth, especially since the 1970s. , NJ; Pittsburgh, PA: Boston, MA: and San Francisco, CA. In 1998, Commerce Capital was the Mid-Atlantic region's largest regional distributor of municipal bonds and notes with trading and sales in excess of $14 billion. Commerce Capital also was the nation's second most active underwriter of short-term municipal bonds in 1998. |
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