StoneX Launches U.S. Defeasance Sales and Trading Capability and Hires Three Professionals

A new U.S. defeasance sales and trading capability has been launched by StoneX Financial Inc., a subsidiary of StoneX Group Inc., as part of its ongoing effort to grow its U.S. Fixed Income business.

The company has hired three seasoned professionals from Truist Securities (formerly BB&T) to support this expansion: Zach Frick, Les Jennette, and Joseph Forchione. They have a combined 40 years of expertise in providing commercial and municipal debt defeasance solutions.

The team will work from Richmond, VA, where StoneX plans to open a new office to accommodate the business and expand locally. The team will be supervised by Hunter Hill, who is the Head of Agency Department Trading at StoneX.

The defeasance team's launch is a significant step in the development of StoneX's fixed income franchise and enhances the company's wide range of solutions for meeting client needs, according to Robert LaForte, who is the Co-Head of Global Fixed Income at StoneX Group.