Ex-N.Y.C. Comptroller Thompson Goes to Siebert Brandford

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Former New York City Comptroller William C. Thompson Jr. joined municipal underwriting firm Siebert Brandford Shank & Co. on Monday, the company announced Tuesday.

Thompson will be the firm’s chief administrative officer and a senior managing director. His main responsibilities are developing and implementing policies related to the firm’s strategic development.

“I am proud to join a firm that has witnessed such considerable growth in recent years,” Thompson said in a press release. “Given the current fiscal distress faced by most large cities and states across our country, my experience will prove invaluable as our firm identifies strategies to assist these municipalities.”

Siebert was the largest minority-owned underwriter in each year of the last decade and in the first quarter of 2010 broke into the ranks of the top 10 as the eighth-largest senior manager in the country, according to Thomson Reuters.

The firm also completed four deals in New York worth a total of $1 billion in the quarter, ranking it the second largest underwriter in the region with a 13% market share.

As a two-term New York City comptroller beginning in 2002, Thompson managed a staff of more than 700 professionals with a budget of $68 million. He oversaw the city’s five pension funds, worked to reform the operations of the New York Stock Exchange, and was involved in the city’s bond deals.

From that vantage point he said he was able to watch Siebert grow rapidly while other, larger firms scaled back their operations during the financial crisis.

“I just like the direction this company is going — I think they continue to establish themselves around the country,” he added in an interview. “Overall, they’ve built a strong team, they continue to improve on that team, and they’re going to be a player in the world for years to come.”

Since running unsuccessfully for mayor of New York City as a Democrat last year, Thompson has had plenty of opportunities, he said, but working at Siebert “was the best fit” and “incredibly attractive.”

His new gig also marks a return to the municipal underwriting world. From 1993 to 1996, Thompson worked on regional muni deals as a senior vice president at Kansas City, Mo.-based George K. Baum & Co.

More recently, New York Gov. David Paterson last month appointed Thompson chairman of the Battery Park City Authority.

To avoid any conflict of interest, his role at Siebert will not involve any business involving New York City or the Battery Park authority.

Previously, Thompson was also deputy borough president of Brooklyn, and he served five terms as president of the New York City Board of Education.

“Bill Thompson brings to the table an accomplished record of service to New York and a wealth of experience in both the public and private sectors,” Suzanne Shank, president and chief executive officer, said in a statement.

“Siebert Brandford Shank has experienced record growth in recent years through targeted hires,” she added. “We felt we needed someone of Bill’s stature and experience to continue our growth and help secure our firm’s desired top-10 standing.”

The firm, which recently expanded its headquarters at 100 Wall Street, senior managed nearly $3.3 billion in the first quarter, completing 21 deals with an average size of $155 million, according to Thomson Reuters. Last year it ranked 11th largest underwriter in the country.

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