One of the oldest members of the municipal bond industry turned a little older on Friday.
T.G. Evensen, founder of what is now Evensen Dodge Inc., a Minneapolis-based independent financial advisory firm, celebrated his 100th birthday.
Friends were expected to gather with Evensen to celebrate the milestone, according to a press release from Evensen Dodge.
Evensen, who founded his namesake firm in 1922, still expresses interest in the business from which he retired around 1975. Homer B. Dodge, the firm's president and chief executive officer since 1970, said Evensen is "very impressed with growth of the firm."
"I think it exceeded his expectations," Dodge said. "I don't think he ever expected it to be a national firm."
The firm has offices in 15 cities nationwide in addition to Minneapolis.
T.G. Evensen and Associates Inc., which became Evensen Dodge in 1975, was the nation's first independent financial advisory firm, Dodge said. The firm does not underwrite bond issue. Evensen founded it after working at the now-defunct municipal bond underwriting firm of Wells Dickey in Minneapolis.
"One of the things he did when he was with Wells Dickey was to finance negotiated bond issues in the Midwest," Dodge said. "In the process of going through negotiated deals, he felt somebody knowledgeable should be sitting on the side of government entities helping them make decisions."
Since retiring, Evensen has kept busy reading and socializing, Dodge said. According to the press release, Evensen, who was born in Great Falls, Mont., attributes his longevity to "his Norwegian heritage and good scotch."
