Larry Levitz, a 30-year public finance veteran who recently spent five years as a director at Fitch Ratings, died unexpectedly on Wednesday. He was 62.
Levitz's wife, Helen, said he died of complications from a surgery. She said he was a 38-year kidney transplant patient and exceeded his life expectancy by decades after being told in 1978 there was a less than 50% chance of living four years.
"He was working from home all the way until last Monday," Ms. Levitz said. "He is someone who played the odds and won."
Levitz, a longtime Bronxville, N.Y., resident, arrived at Fitch in September 2011. He previously spent 19 years at MBIA's public finance division. After earning an MBA in finance at the University of Pennsylvania's Wharton School in 1985, Levitz worked three years as a senior analyst at Moody's Investors Service from 1986 to 1989. The Merrick, N.Y., native received an undergraduate degree at Union College and an MPA in public administration from the University of Texas at Austin's LBJ School of Public Affairs.
"Over the years, Larry developed a large network of friends and acquaintances from the rating agencies, bond insurers, investment bankers, and issuers," said Chris Jumper, director of public finance at Assured Guaranty, who worked with Levitz at MBIA. "All of them will remember Larry for his deep understanding of the market, strong desire to do the right thing for the client, and most of all his quick wit and great sense of humor. This is truly a loss for the public finance community and Larry will be sorely missed."
Nicholas Sourbis, managing director at National Public Finance Guarantee Corporation, was also a colleague of Levitz at MBIA and recalls his deep knowledge of history and politics. Prior to entering public finance, Levitz earned governmental experience at the New York City Office of Management and Budget.
"Larry was a dedicated and insightful municipal analyst who was always a pleasure to work with throughout his almost 20 years with MBIA," Sourbis said. "Larry was always ready with a witty yet discerning comment whatever the circumstance. His good nature and joy for life and family will be sorely missed."
Barbara Rosenberg, senior director of public finance at Fitch, said Levitz was always willing to spend time with other analysts while working on rating certain credits. Rosenberg will be joining others from Fitch's public finance team to attend Levitz's funeral services scheduled for Thursday at 1 p.m. at Riverside Chapel in Mount Vernon, N.Y.
"I saw not only what a good analyst he was but also what a great mentor he was," said Rosenberg. "He was so generous with his time."
