Raymond James hires 10 former Citi Public Finance professionals in support of firm’s continued nationwide growth efforts

St. PETERSBURG, Fla. – Raymond James is expanding the capabilities of its Public Finance division through the hiring of 10 professionals from Citi, including six senior bankers across a range of geographic and specialty areas. With these hires, Raymond James is establishing a Public Finance office in Seattle, forming a dedicated public power practice, growing its footprint in the West and enhancing the firm’s nationally ranked housing finance group.

The additions include:

Ben Selberg, managing director and head of Public Power, Energy & Renewables in Seattle
Chris Mukai, managing director and co-head of Western Region Public Finance in Los Angeles
Victor Andrade, managing director in Los Angeles
Stephen Field, managing director in Orange County, Calif.
Brian Olin, managing director in Seattle
Susan Jun, managing director in the National Housing Group in Chicago
Harley Hoy, vice president in Orange County, Calif.
Sarah Campbell, associate in Philadelphia
Bella Meyn, analyst in Seattle
Neha Chowdhury, analyst in New York

“Having these outstanding, highly regarded bankers join Raymond James is a testament to our dedicated and deeply experienced professionals who have worked tirelessly for years to fuel our growth and advance our strategic vision to be one of the highest regarded Public Finance platforms in the nation,” said Gavin Murrey, executive vice president and head of Public Finance.

Selberg joins the new Seattle office after 19 years at Citi where he served as the head of the firm’s Public Power Investment Banking team. He will focus on financing municipal utilities and energy projects nationally. While at Citi, Selberg senior managed over $50 billion of financings for municipal infrastructure projects, helped clients execute a wide range of financial structures and products, advised on strategic transactions including asset divestitures and acquisitions, contributed to the formation of new credits, and helped to develop innovative project finance structures for energy projects across a range of new technologies, funding sources and partnerships.

Mukai has 33 years of public finance experience serving a diverse range of clients throughout the Western U.S., helping them finance or refinance over $485 billion of infrastructure and working capital needs. He joined Citi in 2001 and led its public finance practice in California and the Western U.S. for the past 15 years. Prior to joining Citi, Mukai worked in public finance for Merrill Lynch for 10 years. In addition to partnering with Municipal Underwriter Parker Colvin as co-heads of Western Region Public Finance, Mukai will leverage his experience and expertise to help clients achieve their financing goals and further expand Raymond James’ presence in the West.

“Raymond James is a highly regarded player in public finance with a talented team of professionals and a robust platform to serve the unique needs of the California market and beyond,” said Mukai. “It’s a real privilege to join Parker to lead the firm’s efforts in the Western U.S. With his partnership, we look to continue the steady growth and positive momentum that have been building here over the past decade.”

Victor Andrade joins Raymond James after 22 years at Citi where he helped California municipal entities complete over 650 financings and raise over $318 billion for critical infrastructure needs. Andrade also led Citi’s California Education Finance practice in which he executed over 280 transactions totaling $57 billion on behalf of school district clients throughout the state. His rating agency advocacy work over the past 15 years has resulted in rating criteria and methodology improvements from Moody’s and Fitch.

Stephen Field has spent 18 years working with municipal issuers throughout the country. He has completed over $75 billion in financings for issuers, including Guam and many West Coast states, in addition to more than $1 billion of developer led social P3 projects. While at Citi, Field helped lead national efforts in securitizing new revenues and developing Citi’s workforce housing business.

Brian Olin has 18 years of public finance experience as both a banker and derivatives specialist. He joined Citi in 2022 following 17 years at Goldman Sachs and has deep expertise working with issuers in the Pacific Northwest and other major issuers across the western region. Throughout his career, Olin has led approximately $40 billion in financings and derivatives spanning a diverse spectrum of municipal sectors.

Susan Jun joins in the firm’s National Housing Group, which works with state and local housing finance agencies, as well as multifamily housing developers and non-profits, to help finance housing for low-moderate income families. Jun brings nearly 30 years of housing banking experience to Raymond James, having served as senior banker to many of the largest affordable housing issuers in the country. Based in Chicago, Jun will help the National Housing Group further broaden and deepen its client base, with a particular focus on state HFAs across the nation. Prior to joining Citi, Jun worked in municipal finance investment banking at Morgan Stanley, Merrill Lynch/BAML, Goldman Sachs and Lehman Brothers. In addition to housing finance, Jun has derivatives and quantitative expertise and has worked with large municipal issuers in other sectors while at her prior firms.

Consistently ranked as a top five underwriter of municipal bonds nationally, according to Bloomberg,* Raymond James has one of the largest public finance practices in the country with approximately 180 professionals in now 39 locations nationwide. Through a series of strategic hires, Raymond James has expanded coverage into 10 new states and added or expanded six national specialty areas since 2018. The firm offers municipal issuers a comprehensive distribution platform and the largest middle market sales force of any U.S. broker/dealer. Additional information is available at rjpublicfinance.com.

*Rankings based on total number of issues. Past performance is not indicative of future results.

About Raymond James Financial, Inc.

Raymond James Financial, Inc., (NYSE: RJF) is a leading diversified financial services company providing private client group, capital markets, asset management, banking and other services to individuals, corporations and municipalities. The company has approximately 8,700 financial advisors. Total client assets are $1.38 trillion as of Dec. 31, 2023. Public since 1983, the firm is listed on the New York Stock Exchange under the symbol RJF. Additional information is available at raymondjames.com.

Raymond James & Associates, Inc., member New York Stock Exchange / SIPC