Jay M. Goldstone, chief operating officer of the city of San Diego and a public member of the MSRB board of directors, will serve as MSRB chair beginning Oct. 1. Stephen E. Heaney, managing director for Stone & Youngberg, a division of Stifel Nicolaus, will serve as vice chair. Officer terms are for one year.
The MSRB board of directors establishes policies, approves rulemaking and market transparency initiatives, and oversees operations for the MSRB, the self-regulatory organization for the municipal securities market.
Goldstone has served on the MSRB board since 2010 and has spent his career in municipal government in financial and executive capacities. Prior to his role as chief operating officer in San Diego, Goldstone was the chief financial officer for the city of San Diego, the director of finance for the city of Pasadena, the manager of finance for Maricopa County, and the interim city manager and director of finance for the city of Richmond. Goldstone has served as the former chair and current member of the League of California Cities Revenue and Taxation Policy Committee, and currently serves as the commissioner of the California Debt and Investment Advisory Commission.
Stephen Heaney joined the MSRB board in 2009 and has more than 30 years of experience in municipal finance, the majority of those years with Stone & Youngberg, where he has directed billions of dollars in public offerings for capital improvements throughout California and Nevada. He has taken a lead role in creating public financing techniques to address the infrastructure needs of large and small-scale development and redevelopment projects, and is a frequent speaker on infrastructure finance issues. Heaney is a former board member of the California City Management Foundation, and a past chairman of the California Public Securities Association. He also served on the Executive Committee of the Municipal Division of the Regional Bond Dealers Association.