City Securities is an Indianapolis-based investment banking firm specializing in tax-free municipal bonds for public works projects. City Securities traces its origins to 1906 when municipal bonds salesman Dick Miller formed Miller & Company.
Eleven years later Miller merged his business with the newly established City Trust Corporation, becoming the securities department of the bank. In 1924, this department was incorporated as a separate entity, the City Securities Corporation.
During the 1930s, the firm reorganized many bankrupt or near-bankrupt businesses. In 1953, City Securities managed negotiations for the $286 million bond issue for the Indiana Toll Road (about $2.8 billion in 2020), one of the largest single bond issues in the state. Other public works the firm has helped finance include the old State Office Building (see ) and the City-County Building (see ).
A change in ownership occurred in 1970 when minority stockholders bought out the majority stockholders. City Securities was acquired by Stifel in 2017, which continued to fund public projects, among other financial services.
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