Raymond James has hired two retired school superintendents to bolster its school district specialty practice in the Midwest.
Richard Allan Markley and Michael Reik joined the firm's Kansas City, Missouri, office in July as directors. They will focus on working with school districts in Missouri and Kansas while also helping out with the firm's general governmental practice. They join an overall team of more than 180 bankers.
"As two of the most tenured superintendents in Missouri, Allan and Mike have been providing leadership and guidance to the public education system and are viewed as subject matter experts in all aspects of public education," said Gavin Murrey, head of public finance/debt investment banking at the firm.
"With nearly 46 years of combined experience, Allan and Mike's expertise, paired with our existing team of Greg Vahrenberg, Dick Bartow and Rich Bartow, further strengthens our respected K-12 underwriting practice," Murrey said.
Markley brings 27 years of experience in primary and secondary education to the team. He was superintendent of schools for the Raytown C-2, Sparta R-III and Logan-Rogersville R-VIII school districts in Missouri.
He received his bachelor's degree in education from Missouri State University, his master's degree in secondary education from the University of Central Missouri, and his doctorate in education leadership from Saint Louis University.
Reik during his 25-year education career held positions as assistant principal, principal, assistant superintendent, and most recently as the superintendent of schools for Platte County R-3.
He received his bachelor's in elementary education and political science from Bradley University, his master of science degree in educational leadership from Northwest Missouri State University, and his doctorate of education in educational leadership and policy studies from the University of Kansas.
"Mike and I are excited to continue serving the public school communities in Missouri and Kansas. We look forward to building the 'go-to' education finance practice in the Midwest," Markley said.
Reik called the firm's growing distribution network in the Midwest and considerable underwriting capacity a "winning formula."
The hires continue the St. Petersburg, Florida-based firm's expansion in the Midwest. Other bankers hired in recent years for the education finance team and other sectors have included managing directors
"The firm is searching for additional talented bankers to continue expanding the practice," a statement said.
The firm was the third-leading underwriter of primary and secondary school transactions in 2021, based on par amount, serving as senior manager on 182 negotiated and competitive issues totaling nearly $5.3 billion in par amount, the firm said, citing Bloomberg data.
