Michael Murray
Partner - Rice Financial Products Company

Mr. Murray leads RFPC’s derivative products structuring and execution efforts. In this regard, he has performed the quantitative analyses and hedging transactions associated with the execution of all of RFPC’s interest rate swaps and has executed more than $30 billion of derivative products in his career.  

This work includes the largest, long-dated fixed-to-floating, municipal interest rate swap executed in 2000; the innovative Alternative Variable Rate and the Actual Annual Effective Interest Cost Swap created for the Dade County Solid Waste Authority; a 1996 Institutional Investor Deal of the Year for the City of Fort Worth, TX; a fixed-to-floating rate swap for the State of Texas Veterans Land Board, a fixed-to-floating rate StairStepSM swap for Dade County, Florida, the first of its type in the municipal market. Mr. Murray also structured and hedged innovative swaptions executed with Dade County and the Oakland-Alameda County Coliseum Authority.

Before joining the firm, Mr. Murray led the Financial Engineering Group of Merrill Lynch’s Municipal Markets Division.  His responsibilities included the reviewing of all major quantitative analyses, the training of new professionals and the development of standard numerical models for the department’s structuring of complex refinancing and new money issues.  

While at Merrill Lynch, he personally structured several billion dollars of the firm’s senior managed tax-exempt debt issues including a $1.1 billion New Jersey State Authority financing, the largest tax-exempt advanced refunding ever done up to that time.

Mr. Murray is a graduate of Howard University where he earned a BS in Computer Systems Engineering.

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