PFM Group Opens Providence, R.I. Office to Provide Additional Service to Northeast Clients

PROVIDENCE, R.I., Dec. 12, 2011 /PRNewswire/ -- PFM Group, the nation's leading provider of independent financial advisory services to state and local governments and nonprofit organizations, has announced the opening of its 33rd office, in Providence, Rhode Island. The office, located in the center of Providence's financial district, will serve PFM's many clients in the New England states.

(Logo: http://photos.prnewswire.com/prnh/20091028/PH00754LOGO-b )

"Our work for municipal clients throughout New England has grown considerably over the past few years, and we had been coordinating that work from our Boston office," explained PFM Managing Director June Matte. "We recognized that there was a significant need for PFM's broad range of services in the local government market, but knew that we needed more resources to really meet the requirements of this market during these challenging times. When the opportunity to add senior talent in our local government practice arose, we felt it was time to broaden our New England presence," she said.  "PFM has served clients in Rhode Island since the early 1990s, but this addition of senior consultants based in Providence will allow us to serve a broader base of Rhode Island clients as well as other local government clients in Massachusetts, Connecticut and New Hampshire," she continued. "We're very excited to have this core group of senior, seasoned  professionals located in Providence," Ms. Matte concluded.

William Fazioli and Stephen Maceroni both joined Public Financial Management, Inc. in the Providence office as Senior Managing Consultants in September 2011. They are joined by Peter Scoliard, who has been headquartered in PFM's Boston office for the past year and a half. Between them, the three professionals have more than 67 years of experience serving in local government and in providing financial advisory services to a broad range of municipalities and not-for-profit institutions in New England.

William J. Fazioli has more than 23 years of municipal finance experience working with issuers in Rhode Island, New Hampshire, and Connecticut. During his career Mr. Fazioli has served as financial advisor to the City of Newport, RI, the City of Keene, New Hampshire and the Hartford Metropolitan District Commission in Connecticut. In addition his experience in the public sector includes serving as City Manager of East Providence, Rhode Island. As City Manager, Bill Fazioli was instrumental in implementing a number of initiatives, including a fully funded capital improvement program and an economic development campaign for the city's waterfront. He has also served as Treasurer of Charlestown, Rhode Island, and Finance Director for the Town of North Providence, Rhode Island. 

Stephen Maceroni has over 15 years of public finance experience and has structured a broad range of tax-exempt financing transactions,  including general obligation and appropriation debt for cities and towns as well as revenue bonds for not-for-profit and educational institutions. Mr. Maceroni has completed transactions for the cities of Providence, East Providence, Pawtucket and Cranston in Rhode Island as well as several issues for the Rhode Island Health and Education Building Corporation.

PFM Senior Managing Consultant Peter Scoliard is an attorney as well as a specialist in structuring innovative capital markets solutions for PFM's higher education and non-profit institutional clients. He joined PFM in the firm's Boston office in February 2010. Over the past thirty years, he has managed bond financings for colleges and universities, independent schools, cultural institutions, hospitals, nursing homes, health centers and social service agencies worth more than of $3.0 billion.

"The advantage that PFM can offer clients is our commitment to serving their interests, as financial advisors, not underwriters," noted June Matte. "In addition, clients can take advantage of the broad range of additional services the PFM Group can offer, including Management and Budget Consulting both for healthy local governments and those in distress. We also can offer Pension and OPEB consulting through PFM Asset Management LLC, and many clients find that they benefit from drawing upon all of our many resources," she added.

The PFM Group currently employs more than 445 professionals serving a broad base of clients from 33 offices located in every region of the country. The firm is well respected for providing clients with independent advisory services free of conflicts in their dealings with the capital markets. Public Financial Management, Inc., part of the PFM Group of companies, was the top-ranked independent financial advisory firm in the nation in almost every major category at September 30, 2011, according to Thomson-Reuters, advising on more than $26.3 billion of total debt in 543 separate transactions in the first three quarters of this year. PFM also ranked first in the Northeastern states at September 30, 2011, advising on 195 transactions with a value of $9.7 billion.

Since its founding in 1974, PFM has provided independent financial advisory services to local, state, and regional government and non-profit clients throughout the United States in their dealings with the capital markets. 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. PFMAM had $39.8 billion in assets under management and provided investment consulting services for an additional $24.0 billion in securities as of September 30, 2011. PFM's clients are state and local governments, non-profit corporations, pension funds, and similar institutional investors. The PFM Group of companies also provides best practices strategic consulting and pension advisory consulting services.

SOURCE PFM Group