Mr. Smith is a Senior Portfolio Manager and directs SMC FIM’s Separately Managed Account Program. He has over 20 years of experience in the municipal fixed income market, and has been involved in all facets of the separately managed account business including portfolio management, client servicing, accounting, performance reporting and trading. Mr. Smith has over 17 years of experience trading all sectors of municipal securities in all 50 states. Michael joined SMC FIM from U.S. Trust Company as Vice President on the municipal trading desk, where he was instrumental in the conversion of their electronic order entry and trading platform system for private banking clients. Prior to joining U.S. Trust Company, Mr. Smith was employed by Merrill Lynch Investment Managers as an Assistant Vice President and bond trader for separately managed accounts. During this period, the assets of the privately managed accounts increased from $2 billion to over $6 billion. Mr. Smith received a B.S. in Accounting from Temple University. He is a member of the New York Society of Security Analysts.