The National Federation of Municipal Analysts recognized four members, including one who was honored posthumously, with awards for meritorious service and career achievement.

At the NFMA conference in Charleston last week, the group presented its 2011 meritorious service award to Mary Colby, a managing director and head of the municipal fixed-income research group at Charles Schwab Investment Management Inc. in San Francisco. 

Colby, who co-chaired the NFMA’s 2002 disclosure subcommittee for recommended best practices for variable-rate and short-term securities, has served on the NFMA board and executive committee. Last year, as the chair of the industry practices committee, she testified at the Securities and Exchange Commission’s San Francisco field hearing on the state of the muni market.

Two past NFMA chairmen received career-achievement awards: Richard Ciccarone, the managing director and chief research officer of McDonnell Investment Management LLC and president of Merritt Research Services LLC; and William Oliver, a senior vice president at AllianceBernstein.

Ciccarone, the group’s 1985 chair and its 1988 analyst of the year, was heralded as a “vocal proponent of full disclosure for 25 years.”

Oliver, the group’s 1995 chairman, became the first member recognized with three awards. He previously received honors for analyst of the year in 1992 and industry contribution in 1994. He is also past chair of the NFMA’s disclosure panel.

Finally, the group gave a posthumous award to Amy Doppelt, a Fitch Ratings analyst who died last fall.

“Analysts and other municipal professionals who came into contact with Amy recognized her professional manner, her willingness to teach, and her dedication to the ethical conduct of business,” the NFMA said in its citation.

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