The Metropolitan Transportation Authority’s acting finance director has moved over to become treasurer. Vinay Dayal replaced MTA treasurer John Murphy, who retired after 35 years of service with the New York agency.
The authority expects to announce a new finance director shortly, an MTA spokesman said.
Dayal took on the finance director’s duties after acting finance director Kenneth Lind left in January to work as an attorney at Nixon Peabody LLP. The MTA has been without a permanent finance director since Patrick McCoy resigned in December 2006 to become executive director of the New York City Municipal Water Finance Authority.
Though Dayal’s time in the position was short, he dealt with billions of dollars of bond transactions as the MTA restructured variable-rate debt to deal with the collapsing auction-rate market and downgrades for bond insurers.
Dayal has worked at the MTA for 19 years and served as a planner in both its marketing department and the Metro North capital and marketing department before joining the finance team in 1999. He earned his MBA from New York University and bachelor’s degree from State University of New York Stony Brook. He is also a chartered financial analyst.
