Monday, June 28, 2010

Reed taps Los Angeles city treasurer for CFO job

Posted By on Mon, Jun 28, 2010 at 6:49 PM

Mayor Kasim Reed today named Los Angeles City Treasurer Joya C. De Foor as his nominee for Atlanta's chief financial officer.

Calling her "eminently qualified to deliver better fiscal performance," Reed made sure to tout De Foor's record of impressing bond rating agencies. (With such mega-projects as the Beltline, a $4-billion sewer overhaul, and an international airport terminal in the works, you can see why that's at the front of his mind.)

“[De Foor] brings a strong track record of managing the finances of a government that maintained a AAA-investment rating by one or more of the major agencies for the last seven of the eight years of her term. I believe she is the right person to guide Atlanta toward a stronger financial position, which will lead to an improved outlook with the major bond rating agencies... She will ensure that taxpayer dollars are budgeted and spent wisely.”

De Foor served as the City Treasurer for the city of Los Angeles since 2001. In that position, she prepared and presented financial and policy recommendations to the Mayor, City Council and department heads on financial issues including public/private partnerships, financial risk management, budget, public finance, capital market developments and emerging regulatory requirements.

Prior to that job, De Foor served as the city treasurer and revenue officer for Long Beach, Calif., and at the Los Angeles County Metropolitan Transportation Authority. She's also had positions in the private sector, including jobs at Deloitte and Touche and Coldwell Banker.

If approved by Council (which is virtually guaranteed), De Foor will fill the shoes left by Jim Glass, the CFO who came out of retirement to help the city climb out of its financial hole. She was one of the three candidates selected for the position by a search committee that scouted candidates from across the country.

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