Public Finance

Alfred Ray

Vice President

Direct: (214) 258-2733


Alfred Ray joined Stephens in 2020 following a 30-year career in public education in Texas, fourteen of those years at the campus level, three at central administration and eight as superintendent of schools.

During his career, he has been directly involved in bond referendum construction projects in Texas City, Cedar Hill, and Mansfield ISDs (as a principal); responsible for management of multiple specific projects including financing in Fort Bend ISD (as area superintendent); and responsible for the entire referendum in all facets at Duncanville ISD (as superintendent). The total of the bond projects Alfred was either partially or totally responsible for comprising over $800million. As a superintendent, his school district was conferred nearly every fiscal award or accolade available; and he was elected to represent his peer superintendents to multiple terms on both the executive committee for TASA and the legislative council for the UIL. He brings his school district expertise to help Stephens provide Texans with strategic underwriting solutions.

Alfred attended undergraduate school at Texas A&M, playing for the Aggies varsity baseball team, before completing undergraduate and master’s degrees at University of Houston-Clear Lake.

He holds a Ph.D. in educational administration from the school he considers his alma mater, Texas A&M. Alfred is a registered Municipal Securities Representative and a registered Uniform State Law Securities Agent.

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