NEW YORK (Reuters) – James Lebenthal, the U.S. community bond market’s largest champion as well as most significant spokesperson, passed away following a cardiac arrest at age 86, his daughter claimed on Friday. Lebenthal ended up being a force in the New york city municipal bond market in the late 1970s, offering to retail financiers for years by means of radio and also TV commercials. “No person loved community bonds as well as their worth as the technique for reconstructing America even more than Father,” his daughter, Alexandra Lebenthal, said by email. “He was a Wall Road legend and also his tradition will live on.” He advocated for the bonds in the 1980s as well as 1990s, when the industry was beleaguered by lawmakers and regulators which wished to finish their tax-exempt standing. “He was a giant of our sector,” stated Richard Ciccarone, head of Iowa-based Merritt Study Services. “He offered a bunch of excellent will for the industry on telling folks not almost the tax obligation worth yet how munis were made use of to serve America.” Though his firm was focused on the Middle Atlantic region, “& ldquo; his visibility was really felt throughout America,” & rdquo; Ciccarone claimed in a telephone job interview. Lebenthal was just one of the largest cheerleaders of New york city City debt as it was crawling out of its financial dilemma in the 1970s. “At a time when New york city City was down on its luck … he provided New york city municipal bond financiers a sense of community by connecting public financing with infrastructure and also improvement,” Stephen Winterstein, primary community strategist at Wilmington, Delaware-based Wilmington Rely on Financial investment Advisors, said by phone. In aged tv as well as radio advertisements, he utilized lines such as “tax-free community bonds are my babies” and also called himself “Developed by Bonds Lebenthal.” He pietistic munis as “the nuts and also bolts that make New york city terrific,” revealing images of the South Bronx restoring its as soon as burned-out buildings making use of munis. He was additionally a filmmaker and an adman, starring simply put animated films about munis with titles such as “Lord Love a Turnpike.” James Lebenthal was the boy of Louis and Sayra Lebenthal, who started the Lebenthal firm in 1925. He was prospered by child Alexandra responsible of business in 1995. The Lebenthals marketed the firm in 2001 to MONY Group, which was taken in by Merrill Lynch in 2005. Alexandra and James Lebenthal acquired the Lebenthal name back from Merrill in 2007 and Alexandra Lebenthal continues to be at the helm of the business. (Reporting by Megan Davies, Hilary Russ as well as Jack Doran; Editing by James Dalgleish as well as Jonathan Oatis)BondsAlexandra Lebenthalmunicipal bonds