We are profoundly saddened at the passing of our dear colleague and friend, Philip Gilboy. Phil passed away suddenly and unexpectedly on Friday, September 23, 2022. Based in Charlotte, NC, Phil led our Trading and Institutional teams.
Phil began his career in the municipal bond business in 1976 at the Northern Trust Company. In 1996, he founded his own firm, P.R. Gilboy & Associates with extensive experience in trading, underwriting and institutional sales in the municipal bond industry. Phil successfully ran his firm for 18 years until merging with HJ Sims in 2017. Phil served as Executive Vice President and Fixed Income Trading Principal at HJ Sims until his death.
Truly one of a kind, Phil was highly respected and esteemed among his peers and associates.
HJ Sims Managing Principal, William Sims shares his recollections of Phil:
“When Phil and I were first put together, it was almost like love at first sight. Phil’s business was the polar opposite of ours – highly rated bonds as opposed to non-rated; secondary market emphasis as opposed to primary market; and smaller blocks of bonds as opposed to tens of millions in new issue size. However, we had a lot in common. Phil sought out and succeeded in a niche that was mostly ignored by the big guys, and, needless to say, most big guys shy away from our niche of non-rated bonds.
Phil was not only an expert in municipal bonds, he was experienced and smart. He had a terrific way with traders, salespeople and customers. He was intelligent, fair, upbeat and honest.
One of his great loves was training new people as a teacher and coach. He was so generous in imparting what he knew to hard-working rookies just entering our industry. He discovered talents in people which even they may not have been aware of.
As my colleague in our company, Phil was always available and gave me honest opinions and excellent solutions to challenges. He was totally trustworthy, and I will deeply miss him.”
Phil was a good friend, colleague, husband and father. He made a profound impact on each and every one he came across and he will be dearly missed.