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CFA (1978); MBA (Finance) (1973), University of Michigan, U.S.; BA (Economics) (1971), Lawrence University, U.S. Raye is a senior portfolio manager and senior managing director of the municipal research group within RBC GAM’s U.S. Fixed Income Team. In this role, he researches various tax- and revenue-backed municipal bonds. He is also a portfolio manager for several of the organization’s tax-exempt and community investing mandates. Raye has worked in fixed income research and portfolio management since joining the firm in 1983. Raye previously worked at a Minnesota-based regional bank holding company where he managed municipal bond and money market funds, in addition to supervising municipal and credit research. Raye was also an investment officer at an insurance company. He joined the investment industry in 1973.