The banking team has extensive experience structuring, underwriting, and distributing new issues for states, counties, cities, schools, public enterprises, special districts, and non-profits while working in conjunction with the nation’s leading municipal financial advisors.

280 Securities’ banking is supported by a well-known trading team, a veteran full-scale institutional sales team, and a robust network of independent wealth and investment advisors. Our retail distribution is powerful and verifiable.  Retail distribution is amplified by BondNav®, 280’s cloud-based price discovery technology that supports best execution compliance for independent investment advisors.

280 Securities is listed in The Bond Buyer’s Municipal Marketplace (the “Red Book”), a national registry of underwriters.

280 Securities’ trading and underwriting leadership are summarized below. For more information, please call 628-231-2327 or email


Tom Lockard

Managing Director, Head of Investment Banking

Tom Lockard co-founded 280 CapMarkets to improve bond price transparency and stimulate individual investor involvement in the capital markets.

Prior to co-founding 280 CapMarkets, he worked at Fundrise, a pioneering fintech company specializing in commercial real estate.

Previously, Mr. Lockard was a Managing Director at Stone & Youngberg and a member of the company’s Executive Committee and Board of Directors. He served as a Public Finance Banker specializing in economic development, special tax, assessment, tax increment, housing, utilities, nonprofits, general obligations, and leases. Over his 30-year career at Stone & Youngberg, Mr. Lockard has structured more than 500 municipal bond issues, representing more than $6 billion.

He earned degrees from the University of Pennsylvania’s Wharton School, Claremont Graduate University, and Stanford University.

Contact: or 628-231-2327

Debbie Ibrahim

Municipal Underwriter

Ms. Ibrahim has more than thirty years of experience in the taxable and tax-exempt fixed income markets. Most of her career was spent at Bank of America Merrill Lynch where she was both a fixed income product manager and municipal trader. Most recently she was a trader and underwriter at HJ Sims.


Jason Ware

Head of Municipal Trading

Mr. Ware was previously Director at R.W. Baird in San Francisco and JP Morgan Securities in Los Angeles. Mr. Ware began his career on the Bear Stearns New York fixed-income desk.

Kathrine Lee

Catherine Lee

Managing Director

Ms. Lee is an experienced banker with a keen understanding of new technologies and systems. Most recently, she worked with several social impact startups in the San Francisco Bay Area, as well as Greater New York City. Prior to that, she was with Raymond James, and Siebert Brandford (Cisneros) Shank, where she evaluated municipal issuers’ debt portfolios for refinancing and new money opportunities.

Mike Hurado

Michael Hurtado

Managing Director

Before joining 280 CapMarkets, Mr. Hurtado was most recently with the Association of Bay Area Governments as Financial Services Manager to the Finance Authority, a conduit issuer for nonprofits. Over his 13-year career at Stone & Youngberg, he structured more than 300 municipal bond issues, representing more than $2 billion in local government debt.

Contact: or 628-231-2564

Jim Wilford

Municipal Trader

Mr. W ilford has more than 30 years of municipal bond trading experience. He traded at Piper Jaffray for more than 21 years, covering nationwide credits.


Trish Mitchell

Muni Liaison Trader

Ms. Mitchell has more than 20 years of municipal bond trading experience. Prior to joining 280 Securities, she was with Piper Jaffray.


Bill Donohue

Muni Liaison Trader

Mr. Donohue has more than 30 years of municipal bond experience and expertise in underwriting, trading and private client wealth management. For the past 15 years, he was Director of Municipal Bond Advisory and Trade Execution at Credit Suisse, and prior to that was with Donaldson, Lufkin & Jenrette.