Marjorie Henning has been appointed as New York City Deputy Comptroller for Public Finance, effective immediately, Comptroller Scott Stringer announced on Friday.
Henning will direct the city’s debt policy and municipal bond issuance on behalf of the comptroller. She is charged with ensuring the integrity, prudence, and cost-effectiveness of the city’s borrowing.
“I’m thrilled that Marjorie Henning will be joining the Comptroller’s Office as Deputy Comptroller for Public Finance,” Stringer said. “Now more than ever, the city has to be laser-focused on making smart, dollar-saving decisions that will safeguard the fiscal health of our city, build a strong foundation for the future, and bring fairness into the financial arena."
Under the city charter, Mayor Bill de Blasio and the comptroller share responsibility for issuing general obligation bonds and notes, as well as debt issued by the New York City Transitional Finance Authority and the NYC Municipal Water Finance Authority. The public finance bureau jointly determines and approves the structures, terms and conditions for all bond and note issues, manages the portfolio of outstanding bonds totaling about $100 billion across all issuers, and works with the financial community on the city’s bonds.
The city’s GOs are rated Aa2 Moody's Investors Service and AA by S&P Global Ratings and Fitch Ratings. As of June 30, NYC’s outstanding GOs totaled $38.63 billion.
A three decade veteran of the municipal market, Henning was most recently a director in the municipal securities division at Citigroup. Prior to joining Citigroup in 2013, she served as general counsel to the New York City Office of Management and Budget, where she was responsible for debt issuances by the city, the TFA, the MWFA and other issuers.
Henning is a graduate of the Harvard Law School and the State University of New York at Buffalo (BA, summa cum laude).
"Marjorie is a seasoned professional and will be a brilliant addition to the team, and I’m confident that New York City will benefit from her leadership," Stringer said.
