Cecil Fritz, a long-time Indiana public finance banker, died Aug. 20 at the age of 91.
Mr. Fritz worked at Indianapolis-based City Securities Corp., one of the state’s top underwriters, for 55 years.
Known as the “Bond Baron,” Mr. Fritz was a member of several muni bond organizations, including the Municipal Finance Committee of the Securities Industry Association and the Indianapolis Bond Club.
Among his many transactions were the original financings for the Indiana Toll Road, built between 1954 and 1987, according to City Securities.
The firm said it lost a “great friend and leader” who was an icon at the bank.
“During his tenure at City Securities Corp., he mentored and developed a number of notable bankers and underwriters,” it said in a press release. “He left a lasting legacy at City Securities for his expertise in working with Indiana issuers and for his understanding of the overall municipal bond market.”
Mr. Fritz was born in 1921 in a small Indiana town. He served as a captain in the Army Air Corps during World War II, and earned undergraduate and graduate degrees in finance from Indiana University.
He specialized in financings for school districts and state universities among other issuers.
Mr. Fritz won the state’s “Sagamore of the Wabash” award, considered the highest honor an Indiana governor can bestow.
A memorial service was held in late August.