Alec Lehrer is a Senior Vice President on the Specialty Financial Products Desk at GKB and is a 15-year veteran of the municipal securities and derivatives market.

Mr. Lehrer has been instrumental in developing the Firm's secondary mortgage market program for its housing finance agency clients. He has created pricing models, presentation materials, policies and procedures, and risk analysis in the development of the program. Mr. Lehrer currently manages the pricing, pipeline management and MBS execution for eight state and local housing finance agencies' programs. Mr. Lehrer utilizes his extensive trading background to help ensure optimal execution in the secondary mortgage market.

Mr. Lehrer also heads up the Firm's reinvestment of bond proceeds business and has overseen the bidding of more than $3.7 billion in reinvestment contracts. He works extensively on derivative transactions where he has successfully acted as bidding agent or advisor on more than $2 billion notional of derivatives contracts.

Prior to joining George K. Baum & Company, Mr. Lehrer worked for Trinity Funding, a subsidiary of GE Capital on its investment agreement, repurchase agreement and derivatives desk, where he was responsible for funding and hedging their portfolios. Mr. Lehrer graduated from the University of Denver with a BS in Business Administration.

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