Commercial banking

Kimberlee Cornett is the director of impact investments at the Robert Wood Johnson Foundation.

Byron Storms has served as president and CEO of Aspire General Insurance Services and Aspire General Insurance Company since August 2015. Prior to joining Aspire General Insurance, he was the president of property & casualty at National General Management Corp from 2012 to 2015. From 2007 to 2012, Storms was president and CEO of ClearSide General Insurance Services, LLC, which was acquired in November 2011 by National General. Storms has a proven track record of assembling strong teams, integrating and implementing technology solutions that create core operational strength, and supporting effective growth.

Issuance for the week of March 31 is at $9.29 billion, with $8.011 billion of negotiated deals and $1.28 billion of competitive deals on tap.

An Illinois park district became the only local general obligation credit to default in 2024, according to Municipal Market Analytics.

California's High Speed Rail Authority has until June 2026 to figure out how to close a $7 billion budget hole, said the LAO's principal fiscal and policy analyst at a budget hearing.

Evan Croen is head of Bloomberg Tax & Accounting.

Washington, D.C. Mayor Muriel Bowser is delaying submitting her 2026 budget while unresolved budget cuts passed by the House in the continuing resolution and then amended by the Senate to repair the damage remain in limbo.

These institutions will see increased usage if some threats to the market come to fruition.

California plans to price $2.5 billion in new money and refunding general obligation bonds next week, with retail orders Tuesday and final pricing Wednesday.

Daily report for March 28, 2025

Following Wednesday's selloff, muni yields were cut even further, with yields rising up to six basis points, depending on the scale. Meanwhile, UST yields rose two basis points out long.

Mary Simpkins, who joined the SEC's Office of Municipal Securities in November 1997, is retiring.

Koonce is the Chief Claims Officer, for Sedgwick. In this role, Koonce is responsible for product development and innovation, industry analysis and thought leadership, best practices and compliance standards, legislative and regulatory relationships, and continued involvement in client programs for Sedgwick's lines of business.

Prior to his current role, Koonce was the Managing Director responsible for Sedgwick's casualty retail business unit in which he oversaw program results and service execution across the company's retail customer base. This included use of innovation and technology to improve client outcomes and customer experience.

Prior to joining Sedgwick, Koonce was senior director of risk management for Walmart Stores, Inc., the nation's largest private sector employer. In this role, he managed the retailer's domestic property and casualty claims program. He simultaneously served as president of Claims Management, Inc., Walmart's wholly owned third party administrator.

As muni advocates fight for the preservation of tax exemption, foreign investors are using the ASCE Infrastructure Report Card as evidence that increased privatization of assets is needed to improve the grades.

David Schwartz is the president and CEO of the Financial International Business
Association, or FIBA, where he promotes growth and advancement in international
banking and finance through education, advocacy and networking. With extensive
experience in international banking and compliance, David has held leadership roles at
institutions like Regions Financial Corporation and Banque Sudameris. Fluent in
multiple languages, he holds a Juris Doctorate from New York Law School and a black
belt in Shuri-Ryu Karate. He also serves on various community boards and actively
contributes to educational and health organizations in South Florida.