PFM Group Names Four New Managing Directors

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Nation's leading independent municipal advisory firm names new partners representing expanding practice across the country.

PFM Group

The experience, commitment, and unfailing focus on clients demonstrated by these four outstanding professionals is of tremendous value to our industry and our firm.

The PFM Group, the nation's leading provider of independent financial and investment advisory services to state and local governments and not-for-profit institutions, announced today that four senior professionals have been promoted to Managing Directors of the firm. PFM CEO John H. Bonow announced the promotions of Jamie Doyle, David Eichenthal, Sarah Hollenbeck, and Sergio Masvidal.

Ms. Doyle is a Financial Advisor serving school districts and municipal government clients across Pennsylvania and is based in the firm’s Harrisburg office; Mr. Eichenthal is a member of the Management and Budget Consulting practice and heads PFM’s Chattanooga office; Ms. Hollenbeck works in San Francisco and serves Northern California governments, transportation agencies, and community colleges; Mr. Masvidal represents PFM’s clients in south Florida as head of the Miami office.

“These are individuals who, through outstanding client service, strong marketing skills and the highest professional standards, have helped PFM maintain our role as the nation’s premier independent financial advisory firm,” Mr. Bonow noted. “They have proven that by focusing on our corporate values of independence, initiative, and integrity, PFM earns the trust of clients and will continue to grow in years to come,” he added.

Jamie Doyle joined PFM in 1997, starting as an analyst and learning the business from the bottom up. Jamie’s expertise on the PA school construction funding formula (PLANCON), her knowledge of the QZAB program, and her experience assisting school districts in their relationships with local townships has proven invaluable to her clients and to the firm. In addition to providing her school district clients with first class service, Jamie has greatly increased the firm’s presence among Pennsylvania community colleges as well. A consummate team player who serves both her clients and her colleagues well, Jamie is an experienced professional who represents PFM Group throughout the Commonwealth of Pennsylvania.

David Eichenthal joined PFM in 2011 following a six-year tenure President and CEO of the Ochs Center in Chattanooga, a non-profit policy research institute that works with local governments, foundations and non-profit organizations in the Southeast and across the nation. He was also a Nonresident Senior Fellow with the Brookings Institution’s Metropolitan Policy Program. Prior to joining the Ochs Center, David was Finance Officer and Director of Performance Review for the City of Chattanooga, overseeing the development of the city’s budget, implementation of one of the nation’s first 311 systems, and creation of a citywide performance management initiative. Earlier in his career, Mr. Eichenthal was Chief of Staff to the New York City Public Advocate, and held numerous other senior high-profile positions. At PFM, David has worked with PFM’s Management and Budget Consulting practice on a series of engagements, including his most recent work as Executive Director of the federal National Resource Network, a broad consortium that will address the complex needs of America’s distressed and challenged local communities.

Sarah Hollenbeck joined the PFM Group thirteen years ago as a Senior Managing Consultant in the firm's San Francisco office after working in the San Francisco Mayor’s Budget Office for one year and spending five years in the Mayor’s Office of Public Finance. During her tenure, she has greatly expanded the firm’s relationships with city and county clients in northern California as well as major transportation authorities. Her work with the Bay Area Toll Authority (BATA) is part of a 20-year program that will impact nearly every major bridge and highway in the Bay Area, while her focus on local governments and community college districts plays a critical role in the growth of PFM’s financial advisory practice in the West. Sarah shares her perspective and insight as a former government official with her colleagues to promote even greater understanding of the issues most important to our clients’ organizations.

Sergio Masvidal has spent his entire career at PFM. Joining the firm in 2003, he established PFM’s Miami office in 2007 and has grown the firm’s presence throughout the Southeast. He possesses a combination of technical skills, knowledge of the marketplace, and policy understanding that has enabled him to be a key contributor to the success of PFM’s clients. His clients represent a variety of counties, cities, transportation authorities and school districts, including PFM’s Miami-Dade County financial advisory relationship as well as the firm’s work for the City of Miami in a variety of sectors. Sergio also leads PFM’s relationship with Miami Dade County Public Schools, one of the five largest districts in the nation. His energy, strategic thinking, and highly ethical approach are representative of the qualities that PFM brings to every client engagement.

“As our firm continues to expand, the experience, commitment, and unfailing focus on clients demonstrated by these four outstanding professionals is of tremendous value to our industry and our firm,” PFM’s CEO noted. “In 2013, PFM successfully retained our leadership position across the industry for the sixteenth year in a row, and we expect these new Managing Directors will be an integral part of PFM’s success as we continue to support and advise our clients, build our firm and position ourselves for outstanding future growth,” he concluded.

For almost four decades, PFM has built a solid presence in the municipal marketplace. The PFM Group of companies includes Public Financial Management, Inc., the top-ranked municipal advisory firm in the nation according to Thomson-Reuters, providing independent financial advisory services to a broad base of local, state, and regional government and non-profit clients throughout the United States. Public Financial Management, Inc.’s total of 768 transactions with total debt issuances of $46.071 billion for 2013 far outpaced all the other top ten ranked firms. PFM is a registered municipal advisor with the SEC and the MSRB under the Dodd-Frank Act of 2010, and has been ranked number one nationally in debt transactions for the past sixteen years, advising on almost $785 billion in total debt in almost 13,000 separate transactions during that period. The firm is well-respected for providing those clients with independent advisory services free of conflicts in their dealings with the capital markets in the fields of Higher Education, Public Power, Transportation, Healthcare, General Municipal and Management & Budget Consulting, and Retirement Finance, among others.

The PFM Group of companies also provides investment consulting services, best practices management and budget consulting, and pension advisory consulting services to pension funds and similar institutional investors. PFM Asset Management LLC (PFMAM), also part of the PFM Group of companies, is registered with the Securities and Exchange Commission under the Investment Advisers Act of 1940 and offers a strong history of thoughtful innovation coupled with an abiding dedication to protecting client capital. At December 31, 2013, PFMAM had $50.0 billion in assets under management for state and local governments and non-profit institutions and provided non-discretionary advice for an additional $41.8 billion in securities. The PFM Group currently employs more than 500 professionals serving a broad base of clients from offices located in every region of the country.

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Ayesha Mays
PFM Group
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