Stephens has announced that Todd Smith has joined the firm as Vice President in its Public Finance practice, further strengthening its municipal advisory capabilities across Tennessee and beyond. With more than two decades of experience in city management, economic development, and public-sector leadership, Smith brings a practical, on-the-ground understanding of municipal operations and long-term infrastructure strategy.
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Smith’s career includes senior leadership roles in Tennessee city administration, where he directed daily municipal operations and managed multi-million-dollar budgets. During his tenure, he led major redevelopment initiatives and advanced public infrastructure and business development projects designed to promote sustainable community growth. Notably, he spearheaded interagency coordination during Hurricane Helene, recognized as the largest natural disaster response in Tennessee’s history, demonstrating high-level crisis leadership and operational oversight.
Over his 24-year career, Smith has also served in multiple strategic leadership positions within the Tennessee National Guard and the United States Air Force. His responsibilities included emergency response coordination, statewide mobility operations, personnel management, and logistics oversight supporting national-level missions. These experiences have provided him with a comprehensive perspective on risk management, resilience planning, and organizational execution—critical skills for today’s municipal finance environment.
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Leigh Ann Biernat, Executive Vice President and Head of Stephens Public Finance, highlighted Smith’s unique blend of municipal expertise and strategic operational experience. She noted that his addition enhances Stephens’ ability to support local governments as they navigate growth planning, capital investment strategies, and long-term community development initiatives.
Smith holds a Master of Public Administration from East Tennessee State University and a Bachelor of Arts from Milligan University. In joining Stephens, he expressed enthusiasm about contributing to the firm’s mission of community development through disciplined financial planning and thoughtful public investment.
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Stephens continues to build momentum in the municipal advisory space. According to LSEG rankings, the firm ranked number one and number two municipal advisor for competitively sold bond transactions in Tennessee in 2024 and 2025, respectively, based on transaction count. For Tennessee city and county issuers specifically, Stephens ranked number one municipal advisor in 2025 based on total par amount of bonds issued.
With Smith’s appointment, Stephens further reinforces its position as a leading municipal advisor, combining local insight, financial expertise, and strategic leadership to help communities plan responsibly and invest confidently in their futures.
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