David Lopp, a municipal analyst and executive whose career spanned more than 25 years, died June 7 after a long illness. He was 52 years old.
"David was whip-smart and a world-class analyst," Karen Daly, senior managing director at Kroll Bond Rating Agency, said in a press release.
Lopp spent the bulk of his career at Financial Guaranty Insurance Co. after joining the firm in 1989. He held several managerial positions during his 19-year tenure, overseeing marketing, new product development, underwriting, risk management and operations.
"I worked with David for about 20 years," Joseph Ponisi, former vice president at bond insurer FGIC, said in an interview. "Not only was he a superior analyst and manager, but he was a great family man. He was a dear friend and will be missed very much."
Before being promoted to managing director for the western region, Lopp ran business development and expanded FGIC's franchise by creating business lines including cultural institutions, land-secured financing, public power, car rental facilities and domestic projects.
Cheryl Whaley, former head of public finance at FGIC, said Lopp played an integral role in making the firm one of the top four carriers.
"He was an individual of unyielding integrity, tremendous intelligence and remarkable loyalty," Whaley said in an interview. "His moral compass was humbling. David was really one of the most ethical persons I knew both professionally and personally. He was a great friend."
Lopp was a voting member on many senior credit committees at FGIC. He was responsible for giving underwriting approval to all core municipal infrastructure, public-private partnerships and domestic project finance.
He was also an active member of the Municipal Analyst Group of New York as well as the Association for Governmental Leasing and Finance.
Prior to working at FGIC, Lopp held several positions at the Municipal Bond Insurance Association, including manager of the tax-backed leasing group.
Most recently Lopp served as chief administrative officer at Municipal Infrastructure Funding, a de novo municipal bond guarantor, according to the press release.
"He was a devoted family man who had an unwavering standard of ethics," Daly said. "He treated everyone with dignity and respect and served as a role model for people who worked with him. I was proud to call him my friend."
Lopp is survived by his wife Ingrid and their three children.
A memorial service will be held on Tuesday, June 24th at 1 p.m. at the Rye Presbyterian Church in Rye, N.Y. In lieu of flowers, Lopp's family asks that any remembrances be sent to The Lopp Family Education Fund c/o Caring Committee, 365 Grace Church Street, Rye, NY 10580.
