Financial Strategies Group



Al Cappelli

Municipal Credit Analyst

Email  |  Tel: +1 704 342-7811

Al Cappelli, director, serves as municipal credit analyst in the Piper Sandler financial strategies group. His focus is on investment grade municipals, providing credit and pricing related support for the firm’s sales and trading activities in the U.S. public finance market. Cappelli has more than 20 years of municipal credit experience across all major sectors, with specialties in healthcare, higher-education, utilities and land-based transactions.

Prior to joining Piper Sandler in 2011, Cappelli spent several years at the Vanguard Group as a senior analyst specializing in healthcare, higher-ed and high yield credits. Prior to Vanguard, he helped manage Columbia Management’s $30 billion money-market and short-term municipal fund. He spent a number of years as a senior analyst at the AAA rated municipal bond insurer Financial Security Assurance and three years at Standard & Poor’s rating healthcare and higher-ed credits. Prior to public finance, Cappelli supported operations at Kaiser Permanente, a large healthcare provider in California, and worked two years supporting operations at General Public Utility’s two nuclear power plants.

Cappelli is a graduate of Manhattan College, where he earned a bachelor's degree, and of Tulane University, where he earned a Master of Business Administration degree. He is a U.S. Air Force veteran.