CHICAGO – Midwestern financial advisory firm Umbaugh announced the hiring of Marvin Founds as the Indianapolis-based firm’s first director of Ohio education finance.
Founds has joined the firm’s Columbus office. He previously served as a managing director at Fifth Third Securities in its Cincinnati office and before joining Fifth Third was a vice president at Stifel Nicolaus & Co.
Founds has worked as a banker on more than $2.5 billion of bond offerings. Before joining the private sector in 2005, he served as chief financial officer and treasurer at several Ohio school districts.
“Umbaugh chose Marvin for his years of experience dealing with the increasingly difficult responsibilities of managing financial resources for Ohio public school districts. He brings a common vision, dedication to excellence, collaboration and demonstrated leadership which are our core values,” Mark Miller, director of Umbaugh’s Columbus office, said in a statement.
The addition of Founds brings to nine the number of advisory professionals working in the Columbus office which opened in 2015. The firm has been expanding its Ohio presence after mergers with two advisory firms Prism Municipal Advisors LLC and ACI Advisors and its hiring of former Columbus debt manager Megan Kilgore.
Umbaugh has 115 employees in four Midwest offices in Indianapolis, Mishawaka, Ind., Columbus and Lansing, Mich., including 54 advisors. The firm advises cities, towns, townships, counties, agencies, utilities, schools, libraries, hospitals and airports about financing, long-range planning, tax and utility rates, budgets, debt management, revenue forecasts, economic development and financial management.
The firm ranked third in the Midwest last year among financial advisors working on 212 deals valued at $3.4 billion. It placed second in Ohio, working on 29 deals valued at $1.1 billion and finished first in Indiana, working on 155 deals valued at $1.8 billion, according to data from Thomson Reuters.