PHILADELPHIA, Sept. 12, 2012 (GLOBE NEWSWIRE) -- The PFM Group, (www.pfm.com), the top-ranked national provider of independent financial advisory services to governments and non-profits and one of the leading investment managers for municipal entities, their agencies, and non-profit institutions, announced today that it has taken another major step in the company's ongoing growth with the naming of Robert J. Delany as a Managing Director and Chief Financial Officer.
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"As PFM has continued to grow, so have our needs for additional financial administration, particularly in handling PFM's strategic needs for capital and financial system management," explained PFM's CEO John H. Bonow. "Orchestrating and funding PFM's strategic growth involves many complex and demanding tasks, and we sought an executive with broad experience in many areas of finance. Rob is such a professional and we are eager to work with him as we continue to build an independent firm known for integrity and sound advice in solving our client's challenges," he added.
Mr. Delany's hiring is the result of an extensive search for an executive with his experience, and reflects both PFM's robust growth and the firm's commitment to continuing to build on a solid financial platform. He was most recently Chief Financial Officer and Chief Operating Officer for Sciens Capital Management, headquartered in New York City, where he managed strategic planning, acquisitions and corporate development. Prior to that, he managed similar functions as EVP and Chief Operating Officer for European Operations for American Financial Realty Trust/European Financial Realty.
"I am very pleased to be joining an organization with the national reputation for integrity, innovation, and independence that PFM has built over the last thirty-seven years," Delany said. "The company's growth since its founding has been phenomenal and it clearly reflects the excellent service and value that PFM provides clients," he added. "In today's complex financial environment, it is essential for an organization to maintain and enhance its efforts across all areas of endeavor," he noted, "and I eagerly look forward to being a part of PFM's expansion going forward and helping to enable the continuation of that growth and success for the benefit of PFM clients and its employees."
Robert Delany and his family currently reside in Maple Glen, PA. He will be based in PFM's Philadelphia headquarters office. Mr. Delany holds both a Bachelor of Science degree in Accounting and a Master of Science degree in Finance from Drexel University, LeBow College of Business in Philadelphia, where he also previously served as an adjunct professor. Mr. Delany is active in the community and on the boards of several philanthropic organizations committed to education and to the arts.
The PFM Group of companies includes Public Financial Management, Inc., the top-ranked municipal advisory firm in the nation, providing independent financial advisory services to a broad base of local, state, and regional government and non-profit clients throughout the United States. The firm is well-respected for providing those clients with independent advisory services free of conflicts in their dealings with the capital markets in the fields of Higher Education, Public Power, Transportation, Healthcare, General Municipal and Management & Budget Consulting, among others. For the first six months of 2012, PFM again led the market by advising clients on $27.8 billion of total debt issuances in 498 transactions. In addition, at June 30, 2012, PFM Asset Management LLC, a part of the PFM Group, had $43.8 billion in assets under management for state and local governments and non-profit institutions, and provided non-discretionary advice for an additional $25.2 billion in fixed income securities. The PFM Group also provides best practices and pension advisory consulting services. The PFM Group currently employs more than 470 individuals serving a broad base of clients from 35 locations in every region of the country.
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