The PFM Group created a new title as part of its adjustment for a post-tax reform world, promoting Daniel Hartman to head of the financial advisory business to strengthen its municipal advisory and consulting practice.
This newly formed position enhances the firm's ability to tap into national resources without compromising the local service, PFM said in a statement Monday. The position is particularly important, PFM said, given the changing landscape of the financial advisory business, including last year’s tax reform bill and ongoing regulatory changes.
“Although our company has grown and performed extremely well, we can realize more value for clients by harnessing our national perspective for each local project and better coordinating subject matter experts across the firm," said John Bonow, CEO of PFM. "Our business is inherently local, and individual teams will focus on providing excellent service to their clients. Dan will build on his proven sector leadership skills and the great respect he has within PFM and the industry in coordinating this practice to ensure that clients will continue to have full access to the firm’s best advice and service.”
Hartman, a managing director in PFM's Arlington, Virginia, office, joined PFM in 1991. His more than 27 years of public finance experience includes leading some of the most innovative financing structures in the municipal utility business nationwide. He previously served as a managing director with Citigroup Global Markets and Bear Stearns.
"PFM has a long history of leadership within the municipal finance business, and I am excited about the opportunity to lead PFM's financial advisory practice through an evolving regulatory and competitive landscape," said Hartman. "I am grateful to have the trust and confidence of my colleagues and look forward to leading a very talented and dedicated group of professionals."
The tax law that took effect this year shook up the tax exempt municipal bond market by lowering tax rates, capping the federal deductibility of state and local taxes and banning advance refundings.
In this new role, Hartman will be responsible for formulating the national strategy for PFM's financial advisory and consulting practice, helping to put the right resources in place and ensuring PFM’s shared knowledge and experience across the firm is used to deliver the best results.
"Dan’s commitment to exceptional client service and his contemporary perspective on clients’ needs make him uniquely qualified to take on this role, and he does so with the full confidence and support of his partners and peers," said Bonow.
