SAN FRANCISCO – Public Financial Management Group said it has opened a Portland office, picking up two Northwest municipal finance veterans to run the practice.

The new Oregon office will be managed by recently-hired directors Ken Rust, former chief administrative officer for Portland, and Eric Johansen, previously the city’s treasurer.

Prior to his position with the city of Portland that ended in July 2011, Rust worked as the city’s chief financial officer. Previously, he was a senior managing consultant at PFM and also an economist with CH2M Hill. Rust is former president of the Government Finance Officers Association of the United States and Canada.

Johansen also worked as the city’s debt manager before he oversaw the city’s debt, banking and investments as treasurer, a position he held until April 2012. Prior to working for Portland, Johansen worked as a financial advisor with PFM and as an investment banker with Shearson Lehman Brothers. He is chair of the GFOA’s committee on governmental debt management.

The PFM Group of companies includes Public Financial Management Inc., the top financial advisory firm in the country by volume of bond deals. The firm advised clients on more than $40 billion of debt issuances through the first nine months of the year, according to Thomson Reuters data.

The Portland office will be PFM’s 35th office.

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