Outstanding Illinois debt is now smoke-free after the state defeased the last $449 million of bonds backed by payments from a master settlement agreement with tobacco companies. Gov. J.B. Pritzker said the move, which was included in Illinois’ fiscal 2024 budget, will save the state $50 million. “Today’s action reflects Illinois’ strong fiscal position and
A member of the Mississippi National Guard receives a dose of the Moderna COVID-19 vaccine in his arm, in Flowood, Mississippi. Rogelio V. Solis | AP Check out the companies making headlines before the bell. Moderna — Moderna shares rose more than 3% in early trading after the Centers for Disease Control and Prevention recommended updated Covid vaccine
Municipal advisors will gain a bit of career flexibility under rule amendments the Securities and Exchange Commission approved Tuesday. The SEC approved the Municipal Securities Rulemaking Board’s amendments to Rule G-3 on professional qualification requirements in addition to related changes to Rule G-8 on books and records. The amendments create a new criteria-based exemption that
City of Hope received approval Tuesday from the Illinois Finance Authority to refund up to $650 million of bonds sold last year to refinance a taxable bridge loan for its purchase of Cancer Treatment Centers of America facilities in Illinois, Arizona, and Georgia. The refunding was among $1.3 billion in conduit financings approved by the
Receive free War in Ukraine updates We’ll send you a myFT Daily Digest email rounding up the latest War in Ukraine news every morning. The EU has agreed to lift sanctions against three Russian business tycoons targeted in response to Moscow’s war against Ukraine, in the most prominent delistings since the conflict began. EU member
“I’ve always been interested in the fiscal health of a city or county, it goes to the health of the people really,” Rob Widigan said. Title: Deputy chief financial officer Firm: Wayne County, MichiganAge: 33 Rob Widigan, deputy chief financial officer of Wayne County, Michigan, has a history of helping to build fiscally stable communities across his state. Rob
Correction <ins data-user-label=”Rich Saskal” data-time=”09/13/2023 1:01:59 PM” data-user-id=”0000015b-3447-d3db-af7b-355783bb0000″ data-target-id=””>Before joining Stern Brothers, Livingston worked at </ins><del data-user-label=”Rich Saskal” data-time=”09/13/2023 1:01:59 PM” data-user-id=”0000015b-3447-d3db-af7b-355783bb0000″ data-target-id=””> </del>Backstrom McCarley Berry & Co. and Blaylock Van, LLC.<ins data-user-label=”Rich Saskal” data-time=”09/13/2023 1:01:59 PM” data-user-id=”0000015b-3447-d3db-af7b-355783bb0000″ data-target-id=””> The listed firms were incorrect in the original version of this story.</ins> September 13, 2023 3:56 PM EDT Correction
“This market on a daily basis gives me the opportunity to continue to learn, challenges me to think about things differently and navigate an ever-changing environment,” said Morgan Fahy. Title: Vice President, Capital MarketsFirm: Build America MutualAge: 32 During a two-year analytics program at Citigroup Global Markets, Morgan Fahy found her love for munis, noting that she liked
“One of the things that my parents said to me early on in my life is, ‘If you have the will to do something, you can make it happen,'” Prachi Chandhok said. Title: Head of product, ESG dataFirm: KestrelAge: 34 Prachi Chandhok ended up in municipal finance by chance but attributes her success to her parents. Growing up
The North Carolina Local Government Commission approved more than $1 billion in bond requests from the cities of Charlotte and Durham on Tuesday while returning financial control to the town of Robersonville. Charlotte submitted two requests, one for airport projects and another for improvements at the Spectrum Center arena. The LGC approved Charlotte’s request to
When this elegant Roquebrune-Cap-Martin villa was built in the 1920s the French Riviera was already a coveted destination for the world’s wealthy and artistic. The belle epoque had fueled tastes for opulence and lavishness. Clear blue Mediterranean waters, hillside landscapes and the mild climate drew inspiration-seeking writers, artists and intellectuals. Roquebrune-Cap Martin’s grand hotel was
“The current challenge has been keeping the ‘affordable’ in affordable housing,” said Steve Scharff. Title: Senior ManagerFirm: Baker Tilly Municipal AdvisorsAge: 32 Steve Scharff has been in his current position with Baker Tilly for about two years but has been working in the financial world since 2015. What Steve offers to the firm’s clients is
“I like the complexity of the transactions that we help bring to life and to see how those transactions positively further the missions of the nonprofits,” said Gretchen Sherwood. Title: CounselFirm: Nixon Peabody LLPAge: 35 Gretchen Sherwood has developed Nixon Peabody’s charter school finance practice into a nationally respected program while maintaining excellent relations with
“As a credit analyst in healthcare, I have a front row seat for a sector undergoing immense pressure and change, a sector that affects all levels of our society at both a macro level and a deeply personal level,” Patrick Zagar said. Title: DirectorFirm: S&P Global RatingsAge: 32 Patrick Zagar has been with S&P Global
“Having a chance to talk directly about what we’re doing and why we’re doing it, it’s reinforcing, in a way,” said Claude Lockhart Jr.Claude Lockhart Jr. Title: DirectorFirm: StifelAge: 31 Claude Lockhart Jr. lines his desk with “souvenirs” from bond projects he’s worked on. Letters and thank you notes, gifts and plaques from cities that
Orrick, Herrington & Sutcliffe LLP Managing Associate Joshua Bonney calls his work at Orrick “a match made in heaven.”© Gittings Photography Title: Managing AssociateFirm: Orrick, Herrington & Sutcliffe LLPAge: 33 Early in his career, Joshua Bonney, a managing associate at Orrick, Herrington & Sutcliffe LLP, has already worked with some of the municipal bond market’s
“I love that every deal is a little different and there is something to be learned from each one,” said Stephanie Kim. Title: Of Counsel Firm: Ballard Spahr LLPAge: 36 Stephanie Kim packs a full legal toolbox for her role as of counsel in the Washington, D.C., office of Ballard Spahr. Since moving from the Atlanta
“I like rolling my sleeves up, looking at the numbers, figuring out the story in my head, as I’m reading everything,” Matthew Shapiro said. Title: DirectorFirm: Assured GuarantyAge: 35 The challenge of covering healthcare and higher education credits has never scared Matthew Shapiro. “I like rolling my sleeves up, looking at the numbers, figuring out
“I really value individuals who come from non-traditional backgrounds, who bring with them a different skill set and a different experience,” Ashlee Gabrysch said. Title: Director, Regional ManagerFirm: Fitch RatingsAge: 39 As Ashlee Gabrysch wrapped up her bachelor’s degree in interdisciplinary Slavic studies at the University of Chicago, she realized she might need to change
“My goal, whether I was in muni finance or any other part of the investment management industry, was to support females and help them advance,” Regina Gaysina said. Title: DirectorFirm: RBC Capital MarketsAge: 34 Regina Gaysina is the most active K-12 municipal financial advisor in New Mexico — and the only woman in her role
“We do different stuff for school districts than we do for anybody else,” said Mattie Prodanovic. Title: Senior Vice PresidentFirm: HilltopSecuritiesAge: 33 Having the right professor at the right time can make all the difference. Mattie Prodanovic enrolled at the Harris School of Public Policy at the University of Chicago thinking the public policy master’s degree she earned