Raymond James is expanding its Michigan presence with the hire of the recently retired superintendent of Traverse City Area Public Schools.
Paul Soma joins the firm as a senior vice president and will establish an office in Traverse City. He will serve K-12 school districts, community colleges and local governments throughout Michigan.
“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.
Soma retired as superintendent of the Traverse City Area Public Schools this summer after five years at the post and 17 years with the district.
Prior to his time at Traverse City, Soma worked as finance manager at Walled Lake Consolidated Schools and then moved to Romeo Community Schools as executive director of business affairs.
“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.”
Raymond James employs about 170 public finance professionals working in 35 offices across the country. The firm’s Grosse Pointe office is home to the only Michigan-based municipal bond trading desk.
The firm is ranked eleventh nationally year to date as a senior manager, credited by Refinitiv with 386 issues valued at $8.03 billion. In the Midwest the firm ranks 13th year to date with 44 issues valued at $696.2 million and in 2018 was ranked 13th with 67 issues valued at $1.06 billion.
