Raymond James continues California expansion, adds José Vera to local government finance practice
ST. PETERSBURG, Fla. – Raymond James is continuing to expand its public finance capabilities in California by hiring local government banker José Vera. Vera will open Raymond James’ fifth public finance office in the state – more than any other underwriting firm – and the firm’s second public finance office in Los Angeles County. Based in Pasadena, Vera has 20 years of experience in municipal finance and will cover cities and special districts in Southern California, as well as land-secured transactions throughout the state. As a managing director, Vera is joining a full-service team of banking professionals backed by a powerful and growing distribution network across California.
Vera’s senior managed experience includes 330 bond financings totaling $6.5 billion for cities, counties and special districts in California. With experience in a broad spectrum of credits, Vera has primarily focused on financing infrastructure for new development projects through land-secured bonds. In this space, he has leveraged his technical expertise to structure senior-subordinate bonds and multi-district pooled financings that enhance economies of scale for many of his clients.
“José is widely respected for his client-first focus, structuring creativity, exceptional credit skills, work ethic, integrity and understanding of the California local government landscape,” said Rob Larkins, Public Finance Western Region manager. “We are excited to add José, as we know what a great problem-solving banker he is and how committed he is to providing the highest level of service to our municipal clients.”
“Expanding our Southern California footprint with the addition of a proven banker like José demonstrates Raymond James’ continued commitment to building the leading public finance team in California,” said Gavin Murrey, executive vice president and head of Public Finance/Debt Investment Banking at Raymond James. “Our bankers’ level of client service supported by Raymond James’ exceptional bond distribution capabilities and considerable underwriting capacity is a winning formula for the California municipal market.”
Vera joins Raymond James from Stifel. A graduate of the Massachusetts Institute of Technology, he holds degrees in economics and mechanical engineering. Vera also serves on the board of the Infrastructure Funding Alliance (IFA). As a board member, he advocates for innovative approaches to implement environmentally and fiscally sustainable infrastructure projects, including California’s Enhanced Infrastructure Financing Districts.“I’m excited to work with Raymond James’ team of experienced investment bankers, including Western Region Municipal Underwriter Parker Colvin, to build the ‘go-to’ local government franchise in California,” said Vera.
Through a series of strategic hires since 2011, Raymond James has assembled a team of professionals and market experts to serve the financing needs of the entire California market, ranging from the state and its two public university systems to cities, counties, school districts, airports and special districts, all of whom need cost-effective market access to address their infrastructure funding needs. The firm continues to look to hire additional talented bankers to round out the team. Specific areas of interest for adding bankers are community college districts and northern/central California local governments. The new Los Angeles County office is located at 39 E. Union Street, in Pasadena, California.
Consistently ranked as a top 10 underwriter of municipal bonds nationally, according to Bloomberg, Raymond James has one of the largest public finance practices in the country with approximately 170 professionals in now 33 locations nationwide. The firm offers municipal issuers a comprehensive distribution platform and the largest middle market sales force of any U.S. broker/dealer.
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 7,900 financial advisors throughout the United States, Canada and overseas. Total client assets are $789 billion. Public since 1983, the firm is listed on the New York Stock Exchange under the symbol RJF. Additional information is available at raymondjames.com.