Roosevelt & Cross celebrates 80 years

Roosevelt & Cross celebrated its 80th anniversary in a new office — which is roughly two blocks away from its old office.

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It’s one of many ways the firm is sticking to what works. In the years ahead, its leadership plans to stay true to the formula so far: an employee-owned firm focused solely on municipal bonds in the Northeast. 

Since its 75th anniversary, the firm has gained a new leadership team. Charles Stavitski and Elaine Brennan were promoted to CEO and president, respectively, in 2024.

The two already served on the board, making for a smooth transition, Stavitski said. Overall, the firm has been conducting business as usual over the last five years, he said. 

Roosevelt & Cross focuses on smaller deals, often from school districts or state agencies, concentrated in New York, New Jersey and Connecticut. The firm co-senior manages larger deals, especially in New York.

In May, for instance, Roosevelt and Cross was one of three lead managers on a $1.18 billion school district financing deal from the Dormitory Authority of the State of New York.

The firm has senior managed 114 long-term deals year-to-date, worth a total of $2.11 billion, according to its data. 87 of those deals, or $1.69 billion, were in New York state. It has co-managed 49 deals, for $19.69 billion; 31 of which were in New York, for $18.06 billion.

In 2025, the firm senior managed 151 long term deals for $2.23 billion, 104 of which were in New York. It co-managed 73 deals, worth $31.59 billion in total, of which 45 deals were in New York, worth $28.05 billion. 

Roosevelt & Cross has 35 employees, 31 of which are in New York City. The firm has offices in Buffalo, New Jersey, Connecticut and Rhode Island; it has closed an office in Massachusetts in the last five years. 

“I don’t ever see us moving away from [the New York, New Jersey and Connecticut] focus,” Stavitski said. If an opportunity arose to “expand into another state, we would take a hard look at it and examine it, and you know, jump on it if the opportunity was bright.”

Stavitski and Brennan have remained traders at the firm in addition to their new leadership positions. Their workloads often extend into the weekends, Brennan said, which is true for other board members, as well. 

The firm’s employee ownership model is a strength of the company, Stavitski and Brennan said. 

“Everyone’s got a piece of the pie here,” Stavitski said.

“Some pieces are bigger than others, but every employee here has a vested interest in seeing the firm do well,” he said.

“I’ve worked here for forty-something years, so a long time,” Brennan said. “And I wouldn’t want to be anyplace else.”

The new office represents a continued commitment to New York City, Stavitski said, where the firm has operated for all 80 years. It’s also a “breath of fresh air” for employees, he said. 

“We just wish we get a more refreshing market in the next couple months,” Brennan said.

Roosevelt & Cross has weathered the storm of volatility so far, she added. “We’re still having a decent year.”

Stavitski said the firm will hold fast to its business model in the decades ahead.

“Some people might think we’re boring. All that we do is municipal bonds, and we don’t try to do anything rash for our clients,” Stavitski said. “But we take a deliberate approach, and make sure that we’re we’re making the right move, both for you know the customers, and the company, and that’s the approach that we would have moving forward.”