Los Angeles City Employees' Retirement System trustee Denise Lamaute and her husband, Daniel, have started Lamaute Capital Inc., Los Angeles, a broker-dealer specializing in bond trading.
The firm has already received approval to provide brokerage service to the California Public Employees' Retirement System and the pension fund for The Walt Disney Co., said Ms. Lamaute, president.
The Lamautes decided to launch the firm because they believe securities brokerage to be a growth industry - the mortgage-backed sector has grown by 400% during the last five years - and to take advantage of the growing trend by institutions to use women- and minority-owned brokerage firms.
The Lamautes also own Lamaute Financial Group Inc., which specializes in financial advisory services for such financial institutions as Resolution Trust Corp., the California Health Financing Authority and the California Department of Insurance.
LCI will clear through Hoening & Co. Inc. of Rye Brook, N.Y. and Wedbush Morgan, Los Angeles.
Mr. Lamaute, the chief executive officer of LCI, is a former bond portfolio analyst with Equitable Life Assurance. Ms. Lamaute is a former defined contribution analyst with TIAA-CREF.