PRAG Announces Opening of Boston, Massachusetts Office

New York, NY – William W. Cobbs, Chairman of Public Resources Advisory Group (PRAG), an independent financial and investment advisory firm headquartered in New York City with offices in Los Angeles, Metropolitan Philadelphia, Oakland and St. Petersburg, announced today the opening of a new office in Boston, headed by Michael Ablowich, former State Treasurer and Budget Director of New Hampshire.  Mr. Ablowich joins PRAG as a Managing Director and will coordinate the firm’s coverage of its New England clients.
 
Mr. Ablowich has 15 years of experience as a public finance professional having served in a variety of senior management positions in New Hampshire state government, including State Treasurer and Budget Director.  His duties involved managing the budget, cash and debt operations of the state.  He also has an extensive experience working with foreign national and sub-national governments to improve their financial management capacities.

“We are very pleased to have a professional of Mr. Ablowich’s skill and experience joining us,” William Cobbs said. “Based in the Boston office, Mike will strengthen our ability to provide financial advisory services to state and local governments in New England.  Providing independent advice regarding the financing needs of our clients is more important than ever in the current financial market and, together with Mike, we are looking forward to assisting clients in New England navigate these challenging times and achieve their financial goals with optimal results.”

PRAG is a leading financial and investment advisory firm that provides the highest level of independent advice based on our in-depth knowledge of markets, superior credit expertise and the most advanced analytical and quantitative skills in the industry.  Among its New England clients have been the State of Connecticut, the Maine Regional Waste Systems, the Commonwealth of Massachusetts, the Massachusetts Turnpike Authority and the State of New Hampshire.

Founded in 1985, PRAG is wholly owned and managed by its employees. It has worked with more than 50 states and state-level authorities as well as numerous localities, including (in addition to those mentioned) the states of California, Georgia, Florida, Maryland, New York, Oregon, Virginia and West Virginia, the counties of Anne Arundel, Baltimore, Broward, Chesterfield, Los Angeles and Monmouth and the cities of Atlanta, Los Angeles, New York, Orlando, Phoenix, Tampa and San Diego. Since the firm’s inception, PRAG has advised issuers on over $550 billion of financings.  “Client service is the firm’s signature,” according to Steven Peyser, President of Public Resources, “leading to many repeat engagements.”  PRAG personnel have provided financial advisory services to Baltimore County since 1981, the Comptroller of the State of New York since 1982, the State of New Hampshire since 1983, the City of Los Angeles since 1985, the State of California since 1990 and the City of New York since 1991.