Bill Thompson goes back to bond firm after failed New York mayor bid

Reuters News
Posted: Nov 20, 2013 2:56 PM
Bill Thompson goes back to bond firm after failed New York mayor bid

NEW YORK (Reuters) - Bill Thompson, a former top New York city finance chief and two-time mayoral hopeful, is rejoining his former municipal bond house, Siebert Brandford Shank & Co, after losing the Democratic primary for New York city mayor, the firm said on Wednesday.

Thompson, who served as city Comptroller from 2002 to 2009, where he oversaw more than $100 billion of city pension funds and acted as watchdog for the city's budget, will return to Siebert as chief administrative officer and senior managing director.

Siebert specializes in the underwriting municipal bonds. The firm said Thompson would be critical as it explores "new business opportunities in other sectors" outside infrastructure.

"Given all of the uncertainty surrounding federal, state and city budgets in recent years, it is more important than ever for municipalities to have access to experienced financial industry guidance," Thompson said in a press release.

Thompson left Siebert, where he had worked from 2010 to 2013, to run for mayor of New York, losing in the Democratic Primary to Bill De Blasio. Thompson ran for mayor previously in 2009. He secured the Democratic nomination but lost the race to incumbent Michael Bloomberg by a narrow margin.

(Reporting by Edward Krudy; Editing by Bernard Orr)