Veteran municipal bond analyst Stephen P. Rappaport has joined Lazard Freres & Co. as a senior vice president, the firm said yesterday.

In his new position, Rappaport will oversee research for Lazard's municipal bond division as well as its municipal finance division, a press release said.

Rappaport joins Lazard after spending 15 years with Prudential Securities Inc. At Prudential, Rappaport last served as senior vice president and manager of municipal research and finance services.

"Steve Rappaport brings to Lazard exceptional breadth of experience and a demonstrated profound understanding of the industry," Robert E. Poll, a Lazard general partner, said in a statement.

Gerald P. McBride, executive vice president and manager of Prudential's municipal bond department, could not be reached for comment.

Rappaport has taught public finance and investment banking at Columbia University and Pace University.

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