Arthur Gianelli, deputy executive for management, budget, and finance for Long Island’s Nassau County, is resigning from his post effective Feb. 15.
Gianelli’s resignation comes amid other changes in the administration of County Executive Thomas Suozzi, a Democrat who is entering his second four-year term. Suozzi, who is expected to challenge New York Attorney General Eliot Spitzer for the Democratic nomination to succeed outgoing Gov. George Pataki, had requested resignations from all senior staff members shortly after his November re-election. At the time, Suozzi said that request was a formality and a courtesy to provide him with the flexibility to make changes if necessary.
Suozzi last month replaced his chief deputy, Anthony Cancellieri, with Christopher Hahn, a 34-year-old lawyer who had most recently worked in Holland & Knight LLP’s government group.
Thomas Stokes, 34, will fill Gianelli’s post. Stokes had been the chief financial officer of the county’s health and human services department and previously worked with the county’s budget division in crafting the administration’s first budget and multi-year plan.
Suozzi also promoted John Donnelly to deputy executive for operations from his job as the county’s chief administrative officer.
“We could not have accomplished the dramatic turnaround of the county’s finances without Art Gianelli,” Suozzi said in a statement. “His insight, innovative solutions to massive financial problems, and tireless work on behalf of the county will be sorely missed.”
Gianelli said yesterday that he’s “exploring his options” and considering positions in the financial services industry. Though he declined to identify the opportunities, he said he would most likely remain in public finance in a consulting- or management-type capacity.
“I’m proud to have been a part of what we accomplished at the county,” said Gianelli, 37, who has a masters in public policy from Brown University. “I was brought in in 2001 specifically to aid the county in its fiscal recovery and I think that by objective measures, we’ve had great success in accomplishing that.”
Since the imposition of a state oversight board in 2000, when Nassau’s credit teetered on the edge of investment-grade status, the county has adopted and formalized a series of fiscal management practices that have helped it snare a string of credit upgrades. Fitch Ratings now assigns its A-plus to the credit with a stable outlook; Moody’s Investors Service rates the county’s debt A3 with a stable outlook; and Standard & Poor’s rates Nassau debt A, with a stable outlook.
