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Cavanal Hill expands municipal credit research team

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Cavanal Hill Investment Management has hired a former Moody’s Investors Service manager in a move to expand its municipal credit research and analysis team.

Brian Henderson, president of Cavanal Hill, says Douglas Benton will expand the firm’s ability to evaluate municipal securities owned by clients of Cavanal Hill, its parent company Bank of Oklahoma, as well as other banking affiliates owned by BOK Financial.

Benton also will provide research and analysis for BOK Financial’s broker-dealer affiliate, BOSC.

Prior to joining Cavanal Hill, Benton served as the leader of Moody’s southwest regional municipal bond ratings team. He headed a team of municipal bond analysts who were responsible for rating the revenue and tax-supported debt of Moody’s-rated local governments in Oklahoma, Texas, Arkansas, New Mexico, Kentucky, Louisiana and Mississippi. Benton also served as a lead analyst on Moody’s coverage of several of the region’s major municipalities.

He began his career in commercial banking and has served as a bankruptcy and litigation consultant for a nationally recognised accounting firm.

Rich Williams, Cavanal Hill vice president and leader of the tax-exempt fixed income team, says: “In the past, high net worth investors have often managed their own bond portfolios. Just within the last two years, the risks have increased significantly in this area. Investors need a good partner with the right municipal credit resources, whether it’s a broker or an investment manager.”

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