Rob Baird, executive vice president and co-head of public finance and debt investment banking at Raymond James, is stepping down as of Oct. 1, Raymond James announced.

He will remain at Raymond James as a member of the public finance division. Baird has been with Raymond James and the former Morgan Keegan, which merged with Raymond James in 2012, for his 38-year career.

Gavin Murrey, executive vice president and current co-head of public finance and debt investment banking with Baird, will take over leadership of the division.

Baird joined Raymond James as the firm’s first full-time public finance banker in 1979 and led the division for more than 20 years.