Richard L. Allen and David M. Kahn will join Bear Stearns as managing directors in public finance, responsible for arranging financing for local school districts in the State of Michigan.
Allen has concentrated on primary and secondary educational financing and has been associated with school finance since the early 1980s. Kahn served 27 years in public education before entering the securities industry in 1998. They will report to Bob Foran, senior managing director and head of public finance.
“We are honoured to welcome these highly respected professionals to our firm. Both gentlemen bring a wealth of experience and knowledge in the field of educational finance. They will serve as invaluable additions to our team and to our clients,” says Foran.
Prior to joining Bear Stearns, Allen worked on a variety of state and local financings in addition to having acted as the lead banker on hundreds of negotiated school district bond issues at UBS. From 1980-84, he was chairman of the board of Allen Consultants, a firm which provided financial advisory services to municipalities and businesses throughout Michigan. Previously, he directed the Municipal Consulting Department of Michigan National Bank and worked as deputy director of the Municipal Finance Commission in the Michigan Department of Treasury. He also served as an elected board member for Holt Public Schools in Michigan for 12 years.
Kahn was a teacher, building principal and communications director for local public schools in the State of Michigan. In 1980, he joined the Michigan Association of School Administrators (MASA), the school superintendent’s professional association, as their associate executive director. During his 18 years with MASA, he helped create the role of, and served as, the executive director of the Michigan Institute for Educational Management (MIEM). Concurrently, he served as the executive director of the Michigan School Public Relations Association (MSPRA).