New York’s Metropolitan Transportation Authority has named veteran transit manager Joseph Leader senior vice president for its department of subways, filling the position Carmen Bianco vacated to become acting president of the MTA’s New York City Transit.
Leader has 27 years of experience with New York City Transit, including 10 as a senior manager within the subway department. Leader’s tenure includes stints as superintendent of track safety and director of investigations in the office of system safety.
He also served as a line general manager and helped implement Fastrack, an initiative that gives uninterrupted access to work over subway lines by suspending service over a time period.
During Hurricane Sandy, he monitored the rising water in lower Manhattan, remaining on scene while it was safe to do so before finally evacuating with maintenance personnel, according to MTA officials.
The MTA estimates it will need as much as $5 billion in repairs due to the storm last October, although officials say reimbursements from the federal government and insurance companies may cover up to 80% of that.
“Having witnessed up close the damage caused by Sandy, I am well aware of the work that remains,” Leader said.
The MTA, with roughly $32 billion of debt, is one of the largest issuers in the municipal marketplace. Fitch Ratings and Standard & Poor’s rate the authority’s transportation revenue bonds A, while Moody’s Investors Service assigns an Aa2 rating.
Should the senior vice president’s position require a permanent appointment, the MTA would advertise the position and conduct interviews.
