KeyBanc Capital Markets has hired veteran public finance professional Mark Miller to fill the shoes of Jeff Freese, who will retire in April as lead of the firm’s central office team, while the firm’s Cain Brothers division is bolstering its healthcare team with the addition of Chris Whitley.
Miller recently joined KeyBanc in its Columbus office as a managing director and lead of the central office team of four that works on internal and regulatory compliance issues.
Miller reports to Derek Chauvette, head of the capital markets public sector and public finance groups at the investment banking arm of Cleveland-based KeyCorp.
Miller joined the firm from Baker Tilly Municipal Advisors LLC, where he was a municipal advisor and managing director. He previously worked as a banker at PNC Capital Markets where he was a managing director leading the Ohio practice that included banking coverage of Indiana, Kentucky, and Michigan.
“Mark brings with him a strong track record of financing transactions for a multitude of entities including state, county, city, special district, housing and higher education,” Chauvette said. “We’re delighted that Mark has joined our team to build on our collective strong relationships, which Jeff has helped build over his” long career at KeyBanc.
Freese will retire in April.
“The last 35 years in public finance has been tremendous. I take away many fond memories of the countless number of people in the industry I have had the pleasure to be associated with,” Freese said. “Key has been a great place to build a career. I have thoroughly enjoyed the people and the collaborative atmosphere within the organization.”
Chauvette called Freese both a friend and colleague, and “a true professional who understands the business as well as the clients and the bankers and what everyone is trying to accomplish together.
“He’s been an integral part of our growth and the success we’ve had.”
Miller and Freese will work together over the next few months to smooth the transfer. “We are replacing one senior person with another,” Chauvette said. “Mark knows all the pieces” of the business so “it’s very complimentary to what Jeff has” brought to the firm over his career.
Whitley recently joined Cain as a director working in the firm’s New York City office reporting to Zach Kau and Bart Plank, co-heads of Cain’s healthcare public finance group. Cain is part of KeyBanc, which acquired the specialty healthcare shop in 2017 to expand its healthcare focus. Cain was founded in 1982.
Whitley previously worked at BofA Securities and is a veteran of the U.S. Navy where he was a nuclear submarine officer. “In partnership with our healthcare industry coverage groups and M&A partners, Chris is well positioned to bring his expertise to our hospital clients,” Kau said in a statement.
KeyBanc employs 51 professionals on its banking team in 12 offices in Atlanta, Cleveland, Columbus, Charlotte, Chicago, Houston, Indianapolis, New York, Pittsburgh, Seattle, San Francisco, and St. Louis.
The firm remains in growth mode with its eye on strategic hires in its key sectors of healthcare, higher education, housing, general government, and infrastructure and public-private partnerships.
Chauvette sees more momentum on the infrastructure and P3 business as funding tied to the federal infrastructure package ramps up. The firm highlights that with a commercial bank behind it, bankers can offer a range of products like direct loans.
KeyBanc ranked 13th last year in the Midwest among senior managers up from 17th for 2020. The firm ranked 22nd nationally last year and 21st for 2020, according to data from Refinitiv.