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Phil Fischer, 30-year public finance veteran and previous head of municipals research at Bank of America Merrill Lynch, is returning to the firm to lead municipals and indices research, sources at B of A confirmed.
He was head of the municipals research group from 2004 until 2009, when he retired. After he left BofA, Fischer started a consulting firm with municipal bond attorney John Sprung, where he has been working as a managing partner.
John Hallacy, a 35-year industry veteran, took over as head of the group in January 2010 after Fischer’s departure. He confirmed Monday that he is retiring from the position at the end of July. Hallacy, 57, spent 23 years with the firm.
“To be perfectly honest, I don’t know what the hell BofA Merrill is thinking,” said Dick Larkin, senior vice president and director of credit analysis at HJ Sims & Co., who spoke to Hallacy Thursday. “It’s like the Yankees giving Derek Jeter his unconditional release.”
Larkin has...