Boutique Firm Remains a Leader in Municipals
Roosevelt & Cross was established in its present form in 1946 by Archibald Roosevelt (son of President Theodore Roosevelt) and Edwin J. Cross, and quickly became a leading underwriter of municipal debt in New York State and the Northeast. That legacy continues to this day, as the 100% employee-owned boutique remains one of the most active firms in its regional footprint.
“The 75th anniversary of Roosevelt & Cross represents an important milestone for our firm,” said Roosevelt & Cross Chairman and CEO Greg Finn. “There are not many companies in any industry that last 75 years, let alone firms that focus solely on municipals. This achievement would not have been possible without a deeply-rooted culture of client service and an extremely dedicated internal team, which sets the standard in municipal bond underwriting every day.”
The roots of the firm reach back over two hundred years. Roosevelt & Son, the firm’s predecessor, was founded in 1797 as a hardware and plate glass merchandising company. By the early 1900s, Roosevelt & Son was a well-known financial firm with a growing presence in the municipal securities market. Those operations were moved into a separate corporate entity following the separation of commercial and investment banking by the Glass-Steagall Act of 1933. Archibald Roosevelt carried on that business during the late 1930s but suspended operations when he entered military service in World War II.
When he returned to civilian life in 1946, Archibald Roosevelt restarted business operations, along with Edwin J. Cross and other associates, focusing solely on municipal debt. Since that time, Roosevelt & Cross has underwritten tens of thousands of long-term bond issues. The firm’s efforts have helped finance vital public works projects in every sector of municipal finance: from education to healthcare to special needs housing.
While Roosevelt & Cross stays true to its core values of customer service, professionalism, and integrity in all facets of its work, it has also evolved progressively over the years. For nearly two decades, the firm has actively participated in the Urban Leadership Fellowship to help mentor minority students in New York City. The firm has also been an active underwriter of both Green and Social Impact Bonds to help support those burgeoning investor bases. And, in 2018, the firm appointed Executive Vice President Elaine Brennan as its first female board member.
Roosevelt & Cross is committed to supporting the local municipal market, whether an issuance is large or small. There is no doubt that the firm will continue as a leader in municipal finance, enhancing the public welfare throughout New York and the Northeast.
About Roosevelt & Cross Incorporated
Roosevelt & Cross Incorporated is a registered broker-dealer that specializes in tax-exempt and taxable municipal debt. The firm is entirely employee owned and directed, and 100% of the firm’s capital is committed to municipal securities. As one of the top-ranking municipal bond underwriters, Roosevelt & Cross offers strong distribution capabilities across major and mid-size institutional accounts, professionally managed retail accounts, and high net worth individual accounts. The firm’s investment banking and credit analysis capabilities are on par with the best in the industry. Roosevelt & Cross is an active underwriter of short-term financings in New York and is consistently ranked the #1 underwriter of education bonds in New York State. Headquartered in New York, the company has branch offices in Buffalo, Boston, West Hartford, CT, East Greenwich, RI and Warren, NJ. Visit https://www.roosevelt-cross.com/ to learn more. Follow us on LinkedIn.