Morgan Stanley public finance co-head Zach Solomon leaves for TD - Bloomberg

Morgan Stanley co-head of public finance investment banking, Zach Solomon, has transitioned to TD Securities, according to Bloomberg. Solomon, who departed Morgan Stanley this week, confirmed his move upon being contacted, though he did not provide further comments. A Morgan Stanley spokesperson declined to comment, and TD Securities did not respond to a Bloomberg request for information.

Solomon played a key role in handling over $5 billion in bond sales for Brightline, a privately owned Florida railroad connecting Miami and Orlando. His departure coincides with TD Securities' expansion in municipal bond operations, as the firm has been integrating sales personnel from JPMorgan Chase and Cantor Fitzgerald, and bolstering its public finance presence in Texas.

The move aligns with Brightline's recent financial struggles. The company filed for Chapter 11 bankruptcy protection, citing revenue falling short of expectations, leaving it unable to repay billions borrowed for its financing. Despite this, Brightline's financing structure garnered attention in the municipal bond market. Solomon had previously discussed the significance of telling Brightline's story during its financing marketing in 2024.

Solomon's addition to TD Securities provides the Canadian bank with an experienced municipal finance banker as it continues to grow its U.S. public finance operations.