John Bonow has been named chief executive officer of PFM Group, owner of the largest investment adviser in the U.S. municipal bond market.
Bonow, 42, a 20-year company veteran, has been managing PFM’s West Coast utilities practices. He will replace F. John White, 64, who will become chairman, the Philadelphia-based company said in an e-mailed statement.
“My priorities for the coming year are to build on PFM’s outstanding culture of independence and dedication to client service, and to expand our service capacity,” Bonow said in the statement.
Bonow joined PFM Group, the parent of advisory firm Public Financial Management, in 1991 after graduating from Yale University, where he majored in economics, the statement said. He has spent his career with PFM on the West Coast, first expanding its financial-advising practice in San Francisco and then opening PFM’s Seattle office in 2002. Bonow and his family will move to Philadelphia, the statement said.
Public Financial Management was ranked first in proceeds among U.S. municipal advisers in the first quarter by Thomson Reuters. The unit advised on 988 transactions involving $57.5 billion last year, the company says on its website.