BRADENTON, Fla. — Mary A. Packer, president of PK Securities in Boca Raton, Fla., and an expert in reinvesting bond proceeds, died May 25.
She was 63.
Her company's work, mostly in the housing sector, involved competitive bidding for the reinvestment of bond proceeds, according to Penny Palmer, who managed the firm's California office until 2014.
"Mary was well known and well liked in the industry," said Palmer, who worked with Packer for more than 30 years.
Between 1999 and 2013, PK Securities and its predecessor companies handled the reinvestment component of more than 1,000 bond issues with an approximate par value of $58 billion.
PK Securities worked with housing agencies in Florida, including the Florida Housing Finance Corp. and regional housing agencies throughout the state.
Packer was a valued colleague among the professionals who served on multifamily and single-family bond transactions, said Barbara Goltz, Florida Housing Finance Corp.'s chief financial officer.
"Mary was instrumental in the successful investment of bond proceeds for Florida Housing for well over 15 years," Goltz said. "Her dedication to providing expert and timely advice and service will be greatly missed."
Packer was a featured speaker for numerous organizations, associations and at conferences, including Smith's, the National Council of State Housing Agencies, and the National Association of Local Housing Finance Agencies, according to the PK Securities' website.
Packer established PK Securities in 2010 as a successor to PackerKiss Securities Inc. and PK Advisors Inc., firms she founded in 1999. She co-founded and served as president of PackerKane & Co. in 1987 and PackerKane Securities Inc. in 1994.
In 1984, she joined Morgan Stanley & Co., establishing the tax-exempt reinvestment department, advising, structuring, and placing proceeds from numerous tax-exempt financings.
Between 1979 and 1984, Packer was an assistant vice president in the public finance department at the First Boston Corp. in New York City where she was instrumental in initiating innovative concepts on which the reinvestment industry is based.
Prior to 1979, she was an assistant vice president in the International Asset Management Department at Merrill Lynch Government Securities Inc. in New York.
Packer was a graduate of Syracuse University. She attended New York University School of Business and received a master's of business administration from Fairleigh Dickinson Graduate School of Business.
She is survived by cousins and friends. Burial was at Wyckoff Reformed Church Cemetery, Wyckoff, N.J.
Donations may be made in Mary Packer's name to the young girl's orphanage in Haiti through the International Humanitarian Aid Foundation, in care of Rev. Andrew Topp, 238 Squaw Brook Road, North Haledon, NJ 07508.
