Tony Hughes

Tony Hughes

Managing Director

Barclays

Tony joined Barclays Capital in 2009 after serving as the Western Regional Head at Citi for 14 years. He has been providing investment banking services to state and local governments in the western states since 1983 and has structuring expertise which includes long-term fixed rate and variable rate revenue bonds, general obligation bonds, toll revenue bonds, sales tax backed special purpose bonds, certificates of participation, lease revenue bonds and tax and revenue anticipation notes. Since 1983, Tony has senior managed over $90 billion worth of transactions including two Institutional Investor “Deals of the Year”, three Bond Buyer “Deals of the Year” and several transactions which were the first of their kind including the first taxable municipal offering, the first foreign currency denominated municipal transaction and the first non-recourse financing for a start-up toll road. Tony’s list of senior managed clients includes the State of California, the counties of Los Angeles, Riverside, San Bernardino, Santa Clara Orange, Kern, Alameda, Contra Costa and San Diego as well as transportation issuers such as the Los Angeles County Metropolitan Transportation Authority, Santa Clara VTA, the San Diego Regional Transportation Commission (SANDAG), the Transportation Corridor Agencies (Orange County) and the Bay Area Toll Authority (BATA). Tony has recently completed senior managed transactions to fund a casino expansion in Riverside County, the new Wild Rivers Water Park in Orange County, five new hangars and an FBO in Austin (TX), a new passenger terminal at Paine Field north of Seattle and 10GW of solar projects in Texas. Tony received his bachelor's degree in Mathematics from the University of California, Los Angeles and an M.B.A. degree in Finance from the University of California, Berkeley. Prior to becoming an investment banker, Tony was a middle and high school math teacher.

Featured Sessions

Wednesday, October 14, 2026
9:10 am

How have market preferences and the needs of issuers shaped the structure of municipal bonds? Why are municipal bonds refunded before maturity or the call date? This session will examine structural conventions of municipal bonds and the inevitability of refunding. Presenters will explore latest refunding strategies, practices, and evaluation methods for achieving the highest value in a refunding transaction.