Wells Fargo Securities announced Stratford Shields, a veteran public finance and capital markets leader, was named managing director and head of Public Finance, effective immediately.

Based in New York City, Shields now oversees a national team of professionals responsible for originating and structuring capital markets products and services for municipal and nonprofit clients. He reports to Phil Smith, head of Government & Institutional Banking.

Shields has more than 25 years of experience to his new role with Wells Fargo, most recently as managing director and Midwest regional manager for RBC Capital Markets. For the majority of his career, Shields worked in positions of increasing responsibility for Morgan Stanley, including head of Public Finance.

“Wells Fargo has a proven leader in Stratford,” said Smith, noting Shields is a former Municipal division chair of the Securities Industry Financial Markets Association (SIFMA). “He brings to our firm an accomplished record of building strong investment banking practices and teams. We are excited to have Stratford on board to lead our team as we continue to partner with other Wells Fargo businesses to meet our clients’ capital markets needs.”

Shields is also known for building client relationships through leadership and deal execution, Smith added. “Having held several senior roles early in his career for the State of Ohio, he brings a valuable client perspective to our Wells Fargo team,” Smith said.