Raymond James expands land-secured public finance capabilities, hires MBS Capital Markets bankers
ST. PETERSBURG, Fla. – Raymond James is expanding its Public Finance capabilities with the addition of five bankers from MBS Capital Markets, a Florida-based investment bank that specializes in land-secured finance. The addition will strengthen the firm’s land-secured business within Public Finance and enhance its ability to serve special district, master-planned community and mixed-use development clients.
The MBS team has extensive experience in land-secured finance, including deep relationships across Florida and other high-growth markets. In 2011, MBS was established to transition the land-secured finance group from Prager, Sealy & Co., which is credited with establishing the land-secured business in Florida, underwriting over $9.5 billion from 1991 to 2011. Since establishment, MBS has completed more than 600 land-secured finance transactions with an aggregate principal amount of $6.75 billion.
“With several decades of industry experience, the MBS team brings a level of specialization, market knowledge and client commitment that aligns extremely well with our Public Finance business,” said Gavin Murrey, executive vice president and head of Public Finance at Raymond James. “Together, we see significant opportunity to expand our land-secured platform by pairing their client and investor relationships and structuring experience with the breadth, resources and distribution capabilities of Raymond James.”
Joining Raymond James from MBS are:
- Ed Bulleit, managing director // Tampa, Florida
- Brett Sealy, managing director // Winter Park, Florida
- Sete Zare, director // Nashville, Tennessee
- Sara Zare, director // Nashville, Tennessee
- Kendall Hahn, vice president // Tampa, Florida
MBS is a recognized leader in land-secured finance, and its founders are credited with helping develop the market for non-rated special assessment bonds in Florida. The team also specializes in underwriting tax increment and utility revenue bonds, with experience advising large-scale master-planned communities and mixed-use projects.
“Raymond James provides the scale, resources and culture to help us extend the work we have built in the land-secured market on the foundation my dad, Doug Sealy, laid more than 40 years ago for which we remain humbled and appreciative,” said Brett Sealy, managing partner and co-founder of MBS Capital Markets.
“By combining our Florida presence, client relationships and structuring experience with the Raymond James Public Finance platform, we can deliver broader capabilities to our clients and the communities they support,” added Ed Bulleit, managing partner and co-founder of MBS Capital Markets.
The MBS team’s experience includes underwriting and placing complex financings, supporting innovative structures and maintaining long-term relationships with high-yield institutional investors, alternative lenders, local and national banks. The team has also worked on projects in markets with more limited histories of land-secured bond issuance.
Raymond James has one of the largest public finance practices in the country with more than 200 professionals and 41 locations nationwide. In 2025, the team senior-managed 610 negotiated and competitive issues with a total par value of more than $29 billion. The firm consistently ranks among the top five underwriters of municipal bonds in the United States, according to Bloomberg.
About Raymond James Financial, Inc.
Raymond James Financial, Inc. (NYSE: RJF) is a leading diversified financial services company providing private client group, capital markets, asset management, banking and other services to individuals, corporations and municipalities. Total client assets are $1.92 trillion. Public since 1983, the firm is listed on the New York Stock Exchange under the symbol RJF. Additional information is available at www.raymondjames.com. Raymond James & Associates, Inc., member New York Stock Exchange.