Stephens Public Finance Strengthens Municipal Expertise With the Addition of Todd Smith

Seasoned City Manager and Public‑Sector Leader Brings Broad Experience in Government Operations and Community Development

LITTLE ROCK, Ark.--(BUSINESS WIRE)--Stephens today announced that Todd Smith has joined the firm as Vice President in its Public Finance practice. With extensive experience in city management, economic development, and public‑sector leadership, Mr. Smith offers a deep understanding of municipal operations, long‑range infrastructure planning, and strategic community investment.

Mr. Smith’s background includes service in city administration in Tennessee, where he directed day-to-day municipal operations and managed multi-million-dollar budgets. He led major redevelopment efforts and advanced numerous public infrastructure and business development initiatives. Most notably, he spearheaded interagency coordination efforts during Hurricane Helene, the largest natural disaster response in Tennessee’s history.

Throughout his 24-year career, Mr. Smith has delivered strategic leadership across diverse sectors and complex organizations. He has held multiple leadership roles involving strategic planning, emergency response coordination, and operational oversight within the Tennessee National Guard and the United States Air Force. His work has included directing personnel and logistics functions, managing statewide mobility operations, and supporting key national-level missions—providing him with a broad perspective on risk management, crisis response, and organizational leadership.

“Todd has a rare blend of municipal management expertise, economic development insight, and strategic operational experience, all of which strengthens Stephens ability to support local governments as they plan for growth, manage capital needs, and invest in the long‑term health of their communities,” said Leigh Ann Biernat, Executive Vice President and Head of Stephens Public Finance. “He is a great addition to our municipal advisory team and will be able to provide a broad range of assistance to our clients.”

Mr. Smith holds a Master of Public Administration from East Tennessee State University and a Bachelor of Arts from Milligan University.

“I am honored to join Stephens and contribute to its mission of community development through thoughtful financial planning and public investment,” said Todd Smith. “Municipalities face complex challenges, and Stephens provides the trusted guidance needed to help them meet those challenges with confidence,” he concluded.

According to LSEG rankings, Stephens was ranked the number one and number two municipal advisor for competitively sold bond transactions in Tennessee in 2024 and 2025, respectively, based on the number of transactions sold. For Tennessee city and county issuers specifically, Stephens ranked the number one municipal advisor, based on total par amount of bonds issued in 2025.

About Stephens
“Stephens” (the company brand name) is a leading family‑owned investment firm that includes Stephens Inc. (member NYSE/SIPC), Stephens Investment Management Group, LLC, Stephens Insurance, LLC, and Stephens Capital Partners LLC. Founded in 1933 and headquartered in Little Rock, Stephens provides securities brokerage, investment banking, public finance, wealth management, and other financial services to corporations, state and local governments, financial institutions, institutional investors, and individuals throughout the United States and abroad. For more information, visit www.stephens.com.