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PMA Financial Network
PMA Financial Network, founded by John Huber in 1979, manages cash and bond proceeds for over 3,000 public-sector clients across the US.
PMA Financial Network
PMA provides financial services to public entities and institutional investors. Its companies offer investment management, fixed income products, public finance advisory services, and local government investment program services. These services include portfolio management, fund administration, and marketing.
General information
Firm type
Asset Manager
Year founded
1979
AUM
Undisclosed
Location
Region
North America
Country
United States
City
Naperville
Corporate office
Naperville, IL, United States
Principals
John Huber
President
Michael Ferraro
CEO & President, PMA Securities
Sector focus
Frequently asked questions
Who runs investment decisions at PMA Financial Network?
Overall firm leadership sits with founder John Huber as President. Day-to-day portfolio management is handled by a dedicated fixed-income team, while PMA Securities — the broker-dealer affiliate — operates under CEO Michael Ferraro. PMA does not publicly disclose a named chief investment officer, and public records indicate the senior management layer is closely held.
How does PMA source its client base?
PMA sources clients through direct relationships with municipal finance officers, school district superintendents, and public-fund administrators, cultivated over decades of public-finance conferences, continuing education seminars, and bond-counsel referrals. The firm's broker-dealer arm further widens the funnel by underwriting municipal bond issues and maintaining trading desks that interact daily with issuer clients.
Does PMA Financial Network operate as a family office or an asset manager?
PMA is a specialized asset manager and broker-dealer, not a family office. It is widely recognized in the public-finance industry as a privately held firm serving governmental, educational, and non-profit entities. The firm's ownership has historically been concentrated among its founders, though an employee stock ownership plan now distributes a portion of equity to staff.
What investment strategies does PMA offer?
PMA provides conservative fixed-income strategies tailored to public-sector cash management: separately managed accounts for bond proceeds and operating funds, local government investment pools (LGIPs), and arbitrage rebate compliance. Investments are restricted to highly rated government securities, federal agency debt, top-tier commercial paper, and municipal bonds that comply with Internal Revenue Code Section 103.
How does PMA's broker-dealer relate to its asset management business?
PMA Securities functions as both an underwriter for municipal bond issuers and a trading desk that executes fixed-income transactions for the asset management side. This structure gives PMA a closed-loop funding and execution pipeline: the broker-dealer prices and trades the very types of securities held in PMA-managed client portfolios, while also serving as a primary distribution channel to reach new public-sector issuers.
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