LOS ANGELES - Veteran public finance banker Catherine Bando has taken the helm as executive director of the California Statewide Communities Development Authority.
Bando, who has served as a public finance investment banker in California since 1985, started Jan. 16 at the authority, one of the nation's largest conduit bond issuers.
"The Commission is excited to have Ms. Bando on board as the CSCDA Executive Director," Larry Combs, chair of the commission that oversees the authority, said in a statement. "Her knowledge and experience in addressing the financial challenges facing local governments in California along with her familiarity with CSCDA by managing some of our most successful public agency finance programs makes her an excellent choice."
During her time as an investment banker, Bando has served more than 300 local governments in California, working on more than $20 billion of tax-exempt and taxable bond offerings.
Her experience includes general obligation bonds, pension obligation bonds, commercial paper programs, tobacco securitizations, and lease and land-secured financings.
In 2009, Bando managed CSCDA's $1.89 billion Proposition 1A Securitization of the state budget stabilization obligation for more than 1,200 local governments.
"I'm excited to join CSCDA and look forward to working with the Commission, CSCDA's sponsors, the California State Association of Counties and the League of California Cities, and the management team as we continue to build CSCDA's excellent array of products and services," Bando said.
The CSCDA was created in 1988 under California's Joint Exercise of Powers Act to provide California's local governments with an effective tool for financing community-based public benefit projects.
More than 500 cities, counties, and special districts are participants in the authority, which serves as their conduit issuer.