Williams announces staff moves
Wilmington Mayor Dennis P. Williams announced the following individuals will serve in key city Administration posts:
– Cleon Cauley– Chief of Staff
– Dr. Jacqueline Jenkins- Chief Strategy Advisor
– Jeffrey Starkey– Commissioner of Public Works
– Leonard Sophrin– Director of Planning
Cauley will replace current Chief of Staff, John Matlusky, who is departing the City to pursue opportunities in the private sector. Matlusky’s last day with the City will be May 9.
Cauley has served as a loaned executive to the City running its Public Works Department. While on loan to the City, Cauley was employed by Morris James, where he chairs the firm’s Governmental Relations Practice Group and is a member of the Real Estate Practice Group.
Prior to serving as the Public Works Commissioner for the City of Wilmington . Cauley served in the office of Gov. Jack A. Markell, as the Deputy Legal Counsel; as the State of Delaware’s Economic Development Ombudsman; and Acting Secretary of the Delaware Department of Transportation. In this capacity, he managed the agency’s 2,600 employees and was responsible for a budget of almost $1 billion.
Additionally he served as a Deputy Attorney General for the State of Delaware, Assistant County Attorney and Land Use Attorney for New Castle County; as the Deputy Secretary, the Chief of Real Estate, and the Deputy Planning Director in the Office of the Delaware Department of Transportation; as the Chair of the Governor’s Cabinet Committee on State Planning Issues; and as Chair of the Governor’s Supplier Diversity Council.
Cauley will begin his tenure as the Chief of Staff for the City of Wilmington on May 12.
Jacqueline Jenkins has been appointed as the Mayor’s Chief Strategy Advisor. Jenkins will assist the Chief of Staff with communicating, executing, and sustaining strategic initiatives within the City of Wilmington.
Jenkins has served as a public servant for more than 35 years, and worked in various roles with the Commerce Department, the Port of Wilmington and the City of Wilmington Human Resources Department. Dr. Jenkins also served as the Director of Human Resources for Delaware Technical & Community College for 16 years.
Jenkins will begin her tenure as the Chief Strategy Advisor for the City of Wilmington on Monday, May 12.
Jeffrey Starkey has been appointed as the Commissioner of Public Works for the City of Wilmington.
Starkey currently serves as the Commissioner of Licenses and Inspections . Starkey also monitored the regulation of various business activities through the issuance of permits, licenses, certificates and appropriate inspections. Starkey will begin his tenure as the Commissioner for Public Works for the City of Wilmington on May 12.
Leonard Sophrin, has been appointed as the Planning Director for the City of Wilmington. Sophrin will serve as the principal liaison between city government, community organizations and planning councils and will work in partnership with these groups to develop comprehensive neighborhood plans. In the past year, Sophrin has worked closely to form public and private partnerships to foster sound, economic and physical planning policies. Sophrin began work as Planning Director earlier this month.
Sallie Mae names CFO
Sallie Mae announced the appointment of Steven McGarry as executive vice president and chief financial officer of the future holding company of Sallie Mae Bank. The appointment will take effect upon the separation of the consumer banking and loan management, servicing and asset recovery businesses.
“I am delighted to welcome Steve to the executive management team of the new Sallie Mae,” said Raymond Quinlan, current vice chairman of Sallie Mae who will assume the roles of Executive Chairman of the Board and Chief Executive Officer upon the company’s transition to a stand-alone consumer banking business. “His broad experience within our finance operation, his mastery of our business and his deep industry knowledge make him the ideal candidate as we grow and diversify our business.”
McGarry was senior vice president, corporate finance, with responsibility for all of the company’s funding activities as well as the management of the corporation’s rating agency relationships and equity and fixed income investor relations. He joined the company’s corporate finance team in 1997. Prior to joining Sallie Mae, McGarry held treasury positions with Toronto Dominion Bank in both London and New York.
Karia earns fellow credentials
National Association of Corporate Directors (NACD) announced that Mike C. Karia of Dover, has become an NACD Fellow, the highest level of credentialing for corporate directors and corporate governance professionals. Karia currently serves as a director on the board of AVATAR Insurance Co. and is a member of Cash Management Board of the State of Delaware.
As an NACD Fellow, Karia has demonstrated his knowledge of the leading trends and practices that define exemplary corporate governance today and has committed to developing professional insights through a sophisticated course of ongoing study. “I am honored to join the distinguished and diverse group of individuals who make up NACD’s Fellowship program and who have committed to advancing the highest standards of boardroom leadership,” said Karia.
Kennan to head Pango
Pango Financial, LLC, Wilmington, announced the appointment of William Keenan as Chairman and CEO. The company specializes in providing funding solutions to entrepreneurs and small and medium size businesses.
Keenan joins the organization with an established career in banking, management consulting and new venture start-ups. Keenan was formerly the Chairman and CEO of K2 Financial, a leading student lender, and held successive senior management positions with Beneficial Finance, US WEST Communications and a number of banks including NatWest, Mellon and Allied Irish.
Pango Financial is backed by a number of investors including East Atlantic Investment Corporation (EAIC).
Kevin Foley, president of EAIC, said “I have worked with Bill for a long time on a number of collaborations and believe Pango’s vision along with Bill’s experience will provide a fresh alternative for an underserved market by providing new funding options for entrepreneurs.”
Weitz named to People to Watch list
Wayne Weitz, managing director at Gavin/Solmonese, Wilmington was named one of the top business professionals making their mark in turnaround, bankruptcy and restructuring by Turnarounds & Workouts (T&W) in its “People To Watch” list for 2014.
He was recognized specifically for his financial advisory roles in several high-profile bankruptcy cases during 2013. These included 11 statutory and ad hoc committees in bankruptcies, such as the equity committee in AgFeed Industries, and creditors’ committees in Oreck Manufacturing, Conexant Systems, Namco Pools, Highway Technologies and MFM Industries. Additionally, Wayne serves as financial advisor to the indenture trustee in Exide and was Chapter 11 trustee in the Waste2Energy bankruptcy, where he won a significant legal victory in the Isle of Man.
“I am honored to be named among the industry’s leading bankruptcy, restructuring and turnaround professionals,” said Weitz. “In each case, I was a member of a tremendous team of dedicated individuals who worked toward the best possible outcome for our clients. It is gratifying to see that our successes are recognized among our peers and valued colleagues,” he added.
In addition to Weitz’s s individual recognition, in January 2014, The M&A Advisor recognized Gavin/Solmonese for its role representing the Official Committee of Equity Security Holders in the Chapter 11 sale of AgFeed Industries, Inc. The firm was also part of a distinguished professional team that received the Retail Manufacturing/Distribution Deal of the Year Award from The M&A Advisor for the sale of Oreck Corporation to Royal Appliance Mfg. Co.
Weitz is a senior financial professional with more than 25 years of experience advising clients and executing transactions as a principal in corporate finance and capital structure optimization, restructuring, mergers and acquisitions, financial management, and bankruptcy. He began his career as an investment banker and has completed nearly 100 acquisitions, dispositions, and capital formation transactions.
