Raymond James hires Michigan education veteran Paul Soma as education public finance professional
ST. PETERSBURG, Fla. – Raymond James has hired veteran Michigan education professional Paul Soma as a senior vice president in its Public Finance practice. Soma will serve K-12 school districts, community colleges and local governments throughout Michigan and will establish an office in Traverse City.
After a 27-year career in public education and having recently retired as superintendent of Traverse City Area Public Schools (TCAPS), Soma has extensive knowledge of the Michigan public education system and the challenges faced by issuers across the state.
Prior to serving as TCAPS superintendent, Soma was a business official at school districts across Michigan for 22 years. After beginning his career as a CPA at Deloitte, Soma joined the Walled Lake Consolidated Schools as finance manager and then moved to Romeo Community Schools as executive director of business affairs. He joined TCAPS in 2002, serving as chief business official before becoming superintendent.
“Paul is a strong financial manager who can offer unique insight and creative financing solutions to Michigan issuers given his nearly three decades of issuer experience,” said Gavin Murrey, executive vice president and head of Public Finance/Debt Investment Banking at Raymond James. “Paul’s work ethic, integrity and reputation across the state will serve our clients well. Michigan is an important market to Raymond James as demonstrated by the fact that we have the only municipal underwriting desk in the state.”
Soma holds an accounting degree from Michigan State University and a master’s in educational leadership from Grand Valley State University. He joins a K-12 full-service team of banking professionals backed by a powerful distribution network across Michigan.
“I have firsthand knowledge of the challenges facing today’s educational and municipal leaders,” said Soma. “Raymond James is giving me the opportunity to combine this knowledge with my financial background to help schools and municipalities across Michigan. It is a natural fit, and I could not be more excited.”
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 36 locations nationwide and is searching for additional talented bankers to continue expanding the practice. The firm offers municipal issuers a comprehensive distribution platform and the largest middle market sales force of any U.S. broker/dealer.
*Rankings based on par amount. 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 7,900 financial advisors. Total client assets are $825 billion. Public since 1983, the firm is listed on the New York Stock Exchange under the symbol RJF. Additional information is available at www.raymondjames.com. Raymond James & Associates, Inc., member New York Stock Exchange/SIPC.