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TRB Securities has added Michael Baldwin as Senior Managing Director and Will Sealy as Vice President, expanding the firm’s Municipal Special District Real Estate Development Bond practice. They joined TRB Securities in July and June 2026, respectively, and are based in Orlando.
Baldwin will lead the practice nationally, working with special districts, developers and public-sector issuers on financing strategies supporting infrastructure and real estate development. Sealy will support transaction origination, structuring and execution across the practice. Their addition expands TRB Securities’ capabilities in a specialized segment of public finance where local infrastructure, development activity and access to tax-exempt financing converge. TRB’s broader capital-markets platform includes public finance banking, underwriting, sales and trading, and other municipal-finance capabilities supporting issuers nationwide.
Michael and Will bring complementary experience to a market that requires both specialized knowledge and disciplined execution. Michael has spent decades structuring and leading special district and development financings, while Will brings strong transaction experience across a broad range of municipal credits. Together, they strengthen our ability to originate, structure and execute financing solutions for issuer and developer clients. – Bryan McCoy, President, TRB Securities
Baldwin brings more than 33 years of municipal finance experience across tax-exempt and taxable, fixed- and variable-rate financings. He has senior managed approximately 300 municipal new issues and worked with cities, counties, school districts, water and sewer utilities, transportation authorities and special districts throughout his career. His development-finance experience includes more than 100 real estate-based bond financings for special districts, including community development districts, public improvement districts, metropolitan districts and water and sewer utility districts.
“Special district finance requires a clear understanding of the development plan, the underlying credit and the infrastructure being financed,” Baldwin said. “I look forward to building a national practice that integrates a strategic perspective into each transaction and helps clients access the capital needed to advance long-term development.”
Sealy brings four years of public finance experience and previously worked in the Municipals Group at Jefferies in New York and Orlando. His experience spans municipal credits and issuers in Florida, Texas, Colorado, Illinois, Kansas, Michigan, Pennsylvania and other markets. He is a member of the firm’s Municipal Special District Real Estate Development Bond practice.
“Successful execution starts with understanding the issuer, the credit and the market,” Sealy said. “I look forward to working with Michael, Bryan and the broader team to support clients through each stage of the financing process and continue expanding the practice.”
Baldwin earned a Bachelor of Science in Chemical Engineering from the University of South Florida and a Master of Business Administration in Finance from the Crummer Graduate School of Business at Rollins College. He holds Series 7, Series 63 and Series 53 securities licenses. Sealy graduated summa cum laude from the Wharton School of the University of Pennsylvania with a Bachelor of Science in Economics, concentrations in Accounting and Finance. He holds Securities Industry Essentials, Series 52TO, Series 63 and Series 79TO registrations.
In 2024, Texas Regional Bank established its newest division, TRB Securities, through the acquisition of Estrada Hinojosa & Co. Today, TRB Securities remains an industry leader in public finance, offering municipal advisory services, underwriting, and trading
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