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Contact: Jennifer A. Galloway, Chief Communications Officer
             (703) 797-6600
             jgalloway@msrb.org

MSRB SADDENED BY LOSS OF BOARD MEMBER GENE SAFFOLD

Alexandria, VA – The Board of Directors of the Municipal Securities Rulemaking Board (MSRB) expressed its sorrow today over the loss of one of its members, Gene R. Saffold, 57, who passed away October 8, 2012, following heart surgery. Mr. Saffold had just begun serving as a public member on the MSRB Board of Directors on October 1, 2012.

“Gene forged a distinguished career in public finance,” said MSRB Chair Jay Goldstone. “We are saddened by the loss of a friend and professional committed to the municipal market. We extend our deepest sympathies to his family.”

Mr. Saffold worked as an independent consultant on financial, strategic and operational matters. Prior to consulting, Mr. Saffold served as chief financial officer of the City of Chicago and previously was vice chairman - national accounts at J.P. Morgan Chase & Co., Inc. He also worked for Salomon Smith Barney, Inc. as managing director in the company's Midwest public finance group.

Mr. Saffold was a member of the Economic Club of Chicago and a board member of the Erikson Institute and the Chicago Low-Income Housing Trust Fund. 

Mr. Saffold is survived by his wife, Carol, and three children, Jessica, Christine and Nathan.

The Municipal Securities Rulemaking Board (MSRB) was established by Congress in 1975 with the mission to protect investors, issuers and the public interest and to promote efficiency, competition and capital formation. MSRB is a private, self-regulatory organization governed by an independent board of directors with market knowledge and expertise. MSRB does not receive federal appropriations and is funded primarily through fees paid by regulated entities. MSRB is overseen by Congress and the Securities and Exchange Commission.

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