BDA Leadership and Staff

Mike Nicholas
Chief Executive Officer
Bond Dealers of America

Mike Nicholas is CEO of the Bond Dealers of America, the only DC based trade association representing securities dealers and banks focused on the U.S. fixed income markets.  In this role, Mike is responsible for all aspects of BDA growth, strategy and operations.  This includes federal lobbying and advocacy, marketing, communications, member relations and agenda development. Prior to the BDA, Mike spent ten years as Managing Director at the Securities Industry and Financial Markets Association and Vice President at The Bond Market Association.  At SIFMA and the BMA, Mike directed all regional dealer capital markets activities while also managing a variety of other departments including the political action committee, issuer relations and member outreach. Prior to joining the BMA, Mike worked in the fixed income capital markets division at Morgan Keegan & Company in Memphis, Tennessee.  Prior to that, Mike served as the district field representative to former U.S. Representative Don Sundquist.  Mike lives in Vienna, VA with his wife and three children.


Kelli McMorrow
Senior Vice President of Federal Legislative & Regulatory Policy
Bond Dealers of America

Kelli McMorrow is Senior Vice President for Federal Legislative and Regulatory Policy at the Bond Dealers of America. She is responsible for advocating BDA’s policy agenda before Congress and regulatory agencies. 

Ms. McMorrow has more than a decade of Washington, DC experience, including seven years as a congressional staffer, most recently serving as chief of staff to former Representative Randy Neugebauer of Texas.  In addition to her congressional and political experience, Ms. McMorrow has lobbied on behalf of other Washington, DC-based trade associations, focusing extensively on financial and tax policy. She began her career on the staff of former Representative Don Manzullo of Illinois. She holds a Bachelor’s degree from the University of Illinois.

Brett Bolton
Vice President of Federal Legislative & Regulatory Policy
Bond Dealers of America

Brett Bolton is the Vice President of Federal Legislative and Regulatory Policy at the Bond Dealers of America where he is responsible for analyzing federal legislative and regulatory policy and staffs the Municipal Bond Division and the Fixed Income Legal and Compliance Committee.

Prior to joining BDA, Mr. Bolton was a Principal Associate of Federal Advocacy at the National League of Cities (NLC) where he lobbied on state and local tax and finance and intergovernmental relations at the federal level. Prior to NLC, Mr. Bolton served as the Deputy Director of Federal Affairs for the State of Florida’s Washington, D.C. office. Prior to his lobbying work, Mr. Bolton served on Capitol Hill in the office of U.S. Representative Steve Southerland. He earned a Bachelors degree from Samford University and a Masters degree from the Florida State University’s   Askew School of Public Administration and Policy


Justin M. Underwood
Director of Federal Policy & Fixed Income Research
Bond Dealers of America

Justin Underwood is the Federal Policy Advisor for the Bond Dealers of America where he is responsible for analyzing federal regulatory and legislative policy and staffs the Municipal Bonds for America Coalition (MBFA) and the BDA’s newly formed Fixed Income Technology and Operations Committee.

Prior to joining the BDA, Mr. Underwood was a Trading Analysis Professional at the Financial Industry Regulatory Authority (FINRA).  Prior to FINRA, he was an Associate and inducted into the first class of City Fellows at Morgan Stanley in London. Mr. Underwood also served on Capitol Hill in the offices of Sen. Sam Brownback (KS), the Joint Economic Committee, and the Financial Services Committee. He earned a Bachelors degree from Emporia State University and a Masters degree in Government from the Johns Hopkins Krieger School of Arts and Sciences and an MBA from the Johns Hopkins Carey Business School.


Joy Grewatz
Director of Federal Legislative and Regulatory Policy
Bond Dealers of America

Joy Grewatz is the Director of Federal Legislative and Regulatory Policy for the Bond Dealers of America. She is responsible for analyzing federal legislative and regulatory policy, developing and managing BDA’s grassroots and grasstops lobbying programs, and helping staff various committees.

Prior to joining the BDA, Ms. Grewatz was a Legislative Associate at CapitalEdge, where she lobbied on behalf of local governments across the country on a wide-array of municipal issues at the federal level. Prior to CapitalEdge, she was a Legislative Coordinator in the Office of Intergovernmental Services for the City of Dallas, Texas.

She earned a Bachelors degree from the University of Texas at Arlington and a Masters degree in Public Administration from the University of North Texas.