SAN FRANCISCO — Riverside County, Calif., finance director Paul McDonnell will return to the private sector as a managing director at financial adviser C.M. de Crinis & Co., the firm announced last week.

At Riverside County, the state’s fourth-largest county with more than two million people, McDonnell manages a budget in the $5 billion range.

Before he was appointed finance director in 2008, McDonnell won three terms as Riverside’s elected treasurer-tax collector, where his duties included oversight of the county’s $5 billion pooled investment fund and collection of about $3 billion in annual property taxes.

McDonnell, 58, will start with de Crinis at its Sherman Oaks office in January after winding up his duties in Riverside.

He will join the firm’s principals, Curt de Crinis and Michael Williams.

The firm was founded in 1990. Since 2003, it has served as financial adviser on almost $2.3 billion of bonds for issuers that include cities, counties, school districts, redevelopment agencies, and special districts, primarily in Southern California.

Before his joining the Riverside County government, McDonnell spent 14 years as a public finance banker and financial adviser with predecessor firms of today’s Citi and RBC Capital Markets.

He is currently vice president of the CSAC Finance Corp., an organization formed by the California State Association of Counties to provide municipal finance services to the state’s 58 county ­governments.

He is also a past president of the California Association of Treasurer-Tax Collectors and a founding board member of CalTRUST, a joint-powers agency that manages local investment funds.

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