Director - Head Underwriter
Cabrera Capital Markets LLC
Merita Kulpinski serves as Lead Municipal Underwriter for Cabrera Capital Markets where she oversees new issue pricing on Municipal bond deals. During Merita’s 30+ year career, she has priced over 1 trillion in Tax-Exempt debt for municipalities throughout the country.
Merita has been with Cabrera Capital Markets for 18 years. Prior to that, she started her career at First Chicago/Banc One Capital Markets underwriting both competitive and negotiated deals. Merita holds a Bachelor of Arts from the University of Illinois -Urbana and a Master of Business Administration from DePaul University. She also holds the following FINRA licenses - Series 7,53 and 63
The concentration of the retail investor has grown in a market that often struggles with liquidity. How are the various demand components of the market shifting? How will the growth of SMAs and ETFs, as well as the dearth of crossover buyers, affect the public finance industry in 2026? Are there new opportunities for hedging munis with the growth of ETFs? What do investors want and how is the sell-side adapting to provide for it?