July 15, 2014
For Immediate Release
Contact: Tim Schram

A Fond Farewell to Carolyn Drude

Ehlers' First Support Staff Person Retiring

ROSEVILLE, MN - JULY 15, 2014 -Ehlers, Inc. announces the retirement of Carolyn Drude as of June 30, 2014.


Carolyn's departure marks the end of an era for Ehlers. She first joined Ehlers in 1960 as a temporary typist, and only support staff for Robert Ehlers, Sr, who founded Ehlers and Associates in 1955.  Due to her detailed understanding of the federal and state statutes for the issuance of municipal debt, Carolyn went on to be the most successful financial advisor in the history of the Company. Over the years, she has provided high quality financial advisory services to hundreds of cities, counties, school districts, townships, and other governmental units across the entire State of Minnesota. 


Her accomplishments also include serving on the Ehlers Board of Directors for more than 25 years and serving as Board Chair for 13 years. She was instrumental in paving the way for gender equality in a predominantly male industry. She became a financial advisor at Ehlers in a time when there were very few women in our industry. She quickly established herself as perhaps the most prominent public financial advisor in the State. Carolyn advocated the team concept and was instrumental in creating our client support structure.


Steve Apfelbacher, President of Ehlers comments, "From my personal association and seeing Carolyn in action, I can say that no one has been more dedicated to making Ehlers the success it is today.  We are indebted to her vision, her efforts and client focus. Carolyn's client commitment has resulted in our present position in our industry."


Chairman of the Board and Senior Financial Advisor Mike Harrigan observes, "Carolyn has seen the Company grown from three people to over 75, witnessed several organizational name changes, not to mention changes in technology, and how we do business. But the one thing that has remained constant is the high-level of personalized service she's delivered to each and every community with whom she has served."


"It's been a wonderful experience working with people who do their best for the communities which they serve. I have enjoyed working with each and every client, and watching how their community has changed. I'm also excited for what the future holds for the company Bob Ehlers created," reflects Carolyn.


The entire staff at Ehlers thanks Carolyn for her contribution to and the legacy she leaves to the Company and her dedication to our clients. All of us have learned a great deal from Carolyn about the public finance business, the right way to serve our clients, and many other valuable lessons. We will miss working with her on a daily basis, but we all continue with the mission and values that she was instrumental in establishing 'to be a leader in public finance', placing the needs of our clients above our own. 


About Ehlers 

Ehlers, an independent public finance advisor for over 50 years, is ranked third nationally in number of competitive sales advised.  (Source: Bloomberg, 212-318-2000. April, 2014.) Our goal is to help public sector clients' achieve practical financial solutions at the lowest cost to taxpayers. Our only allegiance is to the communities to which we serve. Our success is the result of established long-term relationships, hard work, and years of experience. Ehlers works with counties, municipalities, townships, school districts, and other governmental units to build better communities through the products and services we offer: Debt Issuance Services, Economic Development and Redevelopment, Financial Planning, and Strategic Communications. Visit for more information.




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Cautionary Note Regarding Forward-Looking Statements

This press release may contain forward-looking statements. Statements that are not historical or current facts, including statements about beliefs and expectations, are forward-looking statements and are subject to significant risks and uncertainties that are difficult to predict. These forward-looking statements cover, among other things, statements made about general economic and market conditions, our current deal pipelines, market share gains and trends, the environment and prospects for capital markets transactions and institutional brokerage activity, anticipated financial results (including expectations regarding revenue and expense levels, the compensation ratio, return on shareholders' equity, and our quarterly run rate for non-compensation expenses), liquidity and capital resources, inventory positions, share repurchase plans or other similar matters. These statements involve inherent risks and uncertainties, both known and unknown, and important factors could cause actual results to differ materially from those anticipated or discussed in the forward-looking statements. Forward-looking statements speak only as of the date they are made, and readers are cautioned not to place undue reliance on them. Ehlers undertakes no obligation to update them in light of new information or future events.