Bruce David Kelley

Bruce David Kelley passed away on July 15, 2025 surrounded by his family and close friends. Bruce was almost 77 years old.

Bruce was born in Boston, Massachusetts on August 1, 1948. He was the second of four brothers: Brian, Buddy, Brendan, and himself. The siblings shared a strong family resemblance and enjoyed a close, enduring friendship throughout the years. Bruce’s parents, Tommy and Ruthie, were married for 61 years. Tommy was Chief Legal Counsel for the Massachusetts malt beverage industry, as well as an enthusiastic golfer. Ruthie worked for the Federal Bureau of Investigations and enjoyed painting and gardening. Bruce would embrace the passions and characteristics of both Tommy and Ruthie: a love for the law, the game of golf, and a keen sense of discipline that shaped his own career path.

Bruce earned his Bachelor of Arts degree from Boston College in 1970, distinguishing himself through academic excellence and embracing unique opportunities. During his junior year he broadened his horizons by studying abroad in Bruges, Belgium where he completed all coursework in French - an experience that enriched both his language skills and cultural perspective. Graduating with High Honors, Bruce earned a coveted full scholarship to Notre Dame Law School. There, he continued to excel, taking on the role of Executive Editor for the Notre Dame Law Review - highlighting his leadership and academic abilities. Bruce ranked in the top ten of his graduating class, earning his Juris Doctor from Notre Dame Law School in 1973.

Upon graduation Bruce moved to New York City to join Mudge Rose Guthrie & Alexander, a prestigious Wall Street law firm, as an Associate in the municipal bond department. Several years later Bruce was recruited to Phoenix to establish the bond practice at O’Connor Cavanaugh and then became the second general partner at Squire, Sanders & Dempsey.

In 1984 Bruce transitioned from law to municipal investment banking, joining the Public Finance department of Rauscher, Pierce Refsnes. He continued in that capacity for 25 years. As Managing Director of RPR’s Phoenix Public Finance office, Bruce ultimately had overall responsibility for the firm’s public finance activities throughout Arizona. He also served as a member of both the firm’s Public Finance Management Committee and Health Care Specialty Banking Group.

Bruce specialized in hospital and healthcare financing where he financed the capital building and equipment needs of major healthcare systems in Arizona and across the country. In Arizona, Bruce provided financing for large healthcare providers that included Scottsdale Healthcare, Good Samaritan, Phoenix Baptist and University Medical Center Tucson.

Bruce also financed the capital infrastructure needs of State agencies and many local cities, directing underwritings for the Arizona Department of Transportation, Arizona Department of Administration, and for the cities of Tucson, Scottsdale and Flagstaff. Bruce served the State of Arizona, the University of Arizona, and University Medical Center on an on-going basis.

As a former attorney, Bruce also drafted legislation governing the issuance of municipal bonds in Arizona, Ohio, Colorado, New Mexico and Nevada. He served as the Chairman of Arizona’s subcommittee on industrial revenue bond allocations and participated as a member of a legislative task force to study creative financing techniques, particularly the use of tax increment financing.

Over the course of his investment banking career Bruce acquired extensive experience in Mergers & Acquisitions, having served as financial advisor with respect to the acquisition or sale of multiple healthcare entities including hospital systems, skilled nursing & senior living facilities, home health, hospice and personal care business lines. He has worked as underwriter, financial advisor or counsel to multiple health care entities in transactions that include tax exempt and taxable financings, a variety of derivative products and pool financings.

Outside of the office, Bruce enjoyed spending time outdoors. He began golfing with his father at an early age, a passion that continued for more than 60 years, achieving a single-digit handicap in his prime and participating in multiple charity golf tournaments. Among Bruce’s most notable golf experiences were rounds at legendary Pebble Beach in California and the iconic St. Andrews in Scotland. Bruce was a member at several private clubs including Desert Forest in Carefree, and Phoenix & Paradise Valley Country Clubs.

Bruce was also an avid hiker, notably undertaking a 18-day trekking expedition through the renowned Himalayan peaks of Nepal. Weekend excursions with his legal and banking buddies included fly fishing trips on the San Juan River & dove hunting trips to Alamos, Mexico.

2000 saw Bruce’s quintessential bachelor life experience a major shift when he met Mary Ann at a fine local eating & drinking establishment. Four years later, Bruce & Mary Ann were married at Christ Church Ascension & hosted their wedding reception at their home in Tatum Canyon. Bruce enjoyed becoming a husband, stepfather to two teenagers Dylan and Shelby, and acquiring a major Anatolian Shepherd dog, Zore,and twoclever cats Cupcake & Muffin.

Bruce and Mary Ann would share 25 remarkable years together. Early on, they endeavored a renovation of their Paradise Valley residence and grounds to create an entertainers’ paradise. Through the years they hosted multiple themed parties and landmark celebrations enjoyed by family, many friends and neighbors alike at their Foothill Drive home. Entertaining was their passion; Bruce managed all outdoor décor, music, lighting & beverages. His “Kegerator” (circa 2003) remained a signature feature at all their events, alongside his preferred selections of Macallan & Edradour.

International travel was a passion that Bruce & Mary Ann embraced, attaining Silver Medal status with Regent Cruises in short order. Their favorite itineraries included sailings to Turkey, the Baltic Islands & the Mediterranean. Istanbul, St. Petersburg, Rome & Oslo ranked as Bruce’s most memorable ports-of-call. Holiday trips to Santa Fe, Anacortes & Sedona were also among his favorite domestic destinations.

As a father figure, Bruce’s intelligence and kindness made him exceptionally well-suited to steer Dylan & Shelby through their eventful teenage years. Bruce assisted with homework, college essays and resumes. Bruce also attended their debate tournaments, school plays, choral concerts & soccer/hockey games. Bruce even surprised the kids with their first car!

Bruce & Mary Ann also supported children in need by serving as “Bigs” in the Valley Big Brother Big Sister program, as well as donors to St. Jude’s Children’s Research Hospital. Bruce also served on the Finance Committee and the Board of Directors at The Franciscan Renewal Center (CASA).

Bruce is survived by his loving wife Mary Ann; her children Dylan Graham (Lauren) and Shelby Graham; his grandchildren Owen & Nolan; his brothers Brian (Pat), Buddy (Gail), Brendan (Margie); and cousins John and Peter. Bruce was preceded in death by his parents, Thomas & Ruth Kelley. Bruce was a remarkable husband, stepfather, grandfather, brother, lawyer, investment banker, friend & natural athlete. Our extraordinary Bruce David will live on in our hearts forever.

A visitation will be held on Thursday, September 11, 2025 from 5:00 P.M. to 7:30 P.M. at Whitney & Murphy Funeral Home, 4800 East Indian School Road, Phoenix, Arizona 85018. 

Funeral Service on Friday, September 12, 2025 will be held at 3:15 P.M. at Christ Church of the Ascension, 4015 East Lincoln Drive, Paradise Valley, 85253.