Nancy Winkler, a long-time adviser at Public Financial Management Inc., will leave the private sector to become Philadelphia’s treasurer on Jan. 31.
Winkler replaces Rebecca Rhynhart, who is now the city’s new budget director. Winkler is a managing director at PFM. For the past 28 years she has worked on state and municipal debt issuance in the Northeast, including New York and Maryland.
Winkler has experience with establishing new credits and fiscal recovery of distressed issuers. She has worked on bond deals in various sectors, including general obligation, transportation, higher education and health care, according to PFM’s website.
Winkler will help the city manage Philadelphia’s $3.8 billion of combined GO and tax-supported debt.
Its outstanding GO bonds total $1.2 billion. The city is looking to reduce its floating-rate debt.
“Nancy’s financial management expertise and experience with other governments, particularly in debt management, will serve the city well,” Mayor Michael Nutter said in a statement. “I’m confident that she will build on the accomplishments of the past city treasurer in the restructuring of all of the city’s $1.9 billion in variable-rate debt, saving significant interest costs” and limiting risk exposure.
Winkler received her bachelor’s degree from Georgetown University. She is treasurer of the executive committee of New York’s Citizens Budget Commission. She will earn $140,000 a year as Philadelphia treasurer.