DALLAS — HilltopSecurities has named Piper Jaffray senior executive managing director M. Bradley Winges as president and chief executive, succeeding Hill A. Feinberg, who remains chairman.
Winges, 51, has worked 27 years at Piper Jaffray where he headed fixed income securities and municipal sales and trading along with other departments. He is also on the board of the Bond Dealers of America and a committee member of the Fixed Income Market Structure at the United States Securities and Exchange Commission.
“Brad is an exceptional securities industry leader whose talents and extensive experience directly align with the strategic goals, business mix and culture of HilltopSecurities,” said Hilltop Holdings’ Co-CEO and President Jeremy B. Ford. “Hill was instrumental in Brad’s selection as his successor, and we are fortunate to have his continued support and guidance as we move forward.”
Feinberg, 71, a trailblazer at Hilltop and its predecessor First Southwest Co., guided the firm to its rank as the second largest financial advisory in the nation while acquiring rival Southwest Securities in 2016. The stock-swap merger of the two Dallas firms led to creation of Hilltop Securities, a subsidiary of Hilltop Holdings.
Sources indicated that Feinburg has been leading the search for a successor after years of holding the top jobs at the Southwest region’s dominant financial advisory firm.
“Brad’s addition marks a significant milestone in the growth of our firm and I look forward to working with him as we continue to advance our business in key markets across the country,” Feinberg said.
Winges, whose post at Hilltop officially begins Feb. 21, is a past two-term chairman of the BDA and is now co-chair of the BDA’s fixed income market structure committee. He is a founding member of the American Securities Association and was appointed to the SEC’s fixed income market structure committee earlier this year. He earned a bachelor of science in economics and finance from the University of Wisconsin at Madison.
“With its diverse mix of complementary business lines and deep roots in the municipal market, HilltopSecurities represents a compelling opportunity,” Winges said. “I have great respect for the history and culture of the firm, and I look forward to relocating to Dallas to lead such a strong organization.”
In an 8-K filing with the SEC, Hilltop said Winges will earn a base salary of $500,000 with a minimum bonus of $1 million and an incentive award of at least $500,000 in 2020. In addition, he will receive a $1.5 million sign-on bonus and stock options.
Feinberg, a former chairman of the Municipal Securities Rulemaking Board, has held the title of chairman and chief executive for Hilltop/First Southwest since 1991. He was also chairman and chief executive at First Southwest Holdings, Inc. He was previously managing director Bear, Stearns & Co in Dallas. Before that he was vice president and manager of Salomon Brothers’ Dallas office.
Feinberg, a native of Georgia and graduate of the University of Georgia, is a Vietnam veteran who served in the U.S. Army Corps of Engineers.
He is chairman of Phoenix House Foundation and serves on a number of charitable boards.