Profiles in Public Finance:
Mark Nitcholas

For more than 100 years, Baird has built its fixed income business the right way – by bringing on the top professionals in the industry and giving them all the tools and resources they need to serve their clients best. For Public Finance Banker Mark Nitcholas, that includes a commitment to the public finance industry and the resources to back it up.

To many larger firms, especially banks, public finance is an afterthought – at Baird, it’s a signature business sector, and it shows.

Mark Nitcholas

Mark Nitcholas
Public Finance Banker
Houston, Texas

What is your role within the Public Finance industry?

Primarily I communicate with Texas municipalities – mostly cities, counties, state issuers and school districts – to generate senior, co-senior and co-managed municipal bond underwritings. I started at Baird in October of 2020, but I’ve served in this kind of role for 35 years.

How did you first hear about Baird?

Baird is well-known in Texas due to their competitive bidding history and presence in the market, having worked with organizations ranging from special districts to independent school districts to general municipalities.

Why were you looking to leave your previous firm?

I loved being a partner at my old firm, but in 2018 we were sold to a regional bank in Ohio. I had zero interest in working for a larger regional bank with no Texas presence – that nobody in Texas had ever heard of. When Baird called in 2020, I was on my way before I hung up the phone!

What originally drew you to Baird?

Baird has an excellent reputation in the municipal underwriting space, both in Texas and nationally. Not only is Baird the dominant competitive bidding firm in the industry, which is very important in Texas, but several of my colleagues from my old firm were already with the firm.

What were the deciding factors that made you join Baird?

Baird’s culture reminded me of my old firm. It’s privately held, which I appreciate as both a partner at my previous firm and as a current Baird shareholder. Plus, Public Finance is a signature business sector at Baird. To many larger firms, especially banks, public finance is merely an afterthought.

I also feel Baird’s organizational structure and strong management provide firm direction without a lot of bureaucracy.

Looking back, how does your experience at Baird compare with your previous career?

I loved being a partner at my old firm, but we were small with limited resources. Baird has so many resources like quantitative research and marketing support that I simply didn’t have before. And there’s no comparison to some of the Wall Street firms I have worked for.

In terms of municipal underwriting and outperforming our competition, Baird is the best firm I’ve worked for. I consider myself very lucky to have landed here!