PHILADELPHIA, Dec. 15, 2010 /PRNewswire/ -- PFM Group, the nation's leading provider of independent financial and investment advisory services to state and local governments and non-profit entities, announced today that Brian Thomas will be joining the firm in its Los Angeles office as a Managing Director. Thomas has served as the Chief Financial Officer and an Assistant General Manager of The Metropolitan Water District of Southern California (Met Water) since 2000, and previously was Met Water's Assistant Chief of Planning and Resources from 1994 through 1999.
Met Water is a consortium of 26 cities and water districts that provide drinking water to nearly 19 million people in parts of Los Angeles, Orange, Riverside, San Bernardino, and Ventura Counties. It is one of the largest municipal bond issuers in California and the U.S.
"Brian Thomas is widely respected in the public finance arena as one of the premier public sector experts on municipal finances in regard to California and to water projects in particular," said PFM CEO F. John White. "We are extremely pleased to welcome this outstanding and accomplished individual as a partner in our business as we build our significant presence on the West Coast."
As a leading member of Met Water's management team, Brian managed all financial programs, including financial and capital planning, investments, debt management, budgeting, accounting and reporting.
"During his tenure, Brian made significant contributions to a number of Met Water's major policy and program efforts, ranging from water transfers to water rates, energy risk management, and operating and capital planning and budgeting," added PFM Managing Director Dan Hartman, co-head of PFM's national public power group, who works with utility clients across the country. "His work in managing Met Water's complex financial programs through many challenges over the past five years is a testament to his skills and abilities, and we are certain that PFM's clients will benefit from Brian's expertise now going forward," Hartman concluded.
PFM Managing Director Peter Miller heads up PFM's West Coast practice, and noted that financings for municipal water projects are a large and growing area for the firm. "We are extremely pleased to have a professional with Brian's broad background join our PFM team as we further develop our Financial Advisory practice in Southern California and our water- related practice throughout the western U.S.," Miller said. "The policy and finance issues confronting water purveyors throughout the west are both sophisticated and varied. For these reasons, we are very fortunate to have someone with Brian's considerable experience and expertise. We are looking forward to his contributions to our continued growth in the California and western U. S. marketplace," he added.
Brian Thomas shares PFM's enthusiasm. "I am delighted to join a firm with such an excellent reputation in the world of municipal finance," Mr. Thomas said. "I certainly enjoyed my nearly seventeen years with Met Water, and now this presents an ideal opportunity for me to use my knowledge of current issues in municipal water financing to help PFM do an even better job of meeting client needs."
Thomas has worked in the power and water business for over 25 years, including experience at the cities of Anaheim and Riverside Public Utilities. He received his B.S. in Biology and Economics from California State Polytechnic University, Pomona, and holds both a Master's Degree and a Ph.D. in Economics from California State Polytechnic University, Riverside. He has authored numerous articles on water and power planning and finance, and is a frequent speaker at professional conferences. Brian and his wife Shari live in Pasadena.
PFM currently employs more than 430 individuals serving a broad base of clients from 34 offices located in every region of the country. As the top-ranked independent financial advisory firm in the nation, PFM is well respected for providing clients such as local, state, and regional government and non-profit organizations throughout the United States with independent advisory services free of conflicts in their dealings with the capital markets. Founded in 1974, The PFM Group has been involved in financing programs totaling in excess of $435 billion. PFM Asset Management LLC, also part of the PFM Group, at September 30, 2010 had $36.5 billion in assets under management for state and local governments and non-profit institutions, and provided non-discretionary advice for an additional $2.3 billion in fixed income securities. PFM also provides best practices and pension advisory consulting services and currently employs more than 430 individuals serving a broad base of clients from 34 offices located in every region of the country.
SOURCE The PFM Group