THE PORT AUTHORITY OF NY & NJ

Press Release Article


STANLEY E. GRAYSON CONFIRMED BY NEW YORK STATE SENATE AS NEW PORT AUTHORITY COMMISSIONER

Date: Dec 16, 2008
Press Release Number: 151-2008

The New York state Senate has confirmed Stanley E. Grayson, a former deputy mayor in the administration of New York City Mayor Ed Koch, as a member of the Port Authority Board of Commissioners.

Mr. Grayson, who was nominated to the unpaid position by Governor David A. Paterson, will replace Commissioner Bruce Blakeman on the 12-member board. He will serve until 2014, and is scheduled to attend his first Board meeting tomorrow.

New York Governor David A. Paterson said, “Stanley Grayson has more than 30 years of extensive experience in public sector finance, which will be an enormous asset to the Port Authority’s Board as it works to enhance the region’s major transportation infrastructure. I’m pleased that the state Senate acted to confirm his nomination, and I’m sure he will immediately join his fellow commissioners to take on the work that lies ahead.”

Port Authority Chairman Anthony R. Coscia said, “Implementing the most ambitious capital program in the Port Authority’s history will require strong and capable leadership from the Board of Commissioners. Stanley Grayson’s experience in private sector public finance, as well as his extensive background in the public sector, will be key assets to us in guiding the agency’s investments in the region’s transportation infrastructure, and we look forward to working with him.”

Port Authority Vice Chairman Henry R. Silverman said, “The expertise and wealth of experience that Stanley Grayson brings to us will be invaluable as we move forward in 2009 with the largest capital investment in Port Authority history. His accomplishments in the public and private sector are extensive, and he’ll be a key asset to the Board and to the agency.”

Port Authority Executive Director Chris Ward said, “As the Port Authority manages its long-term capital plan in these challenging economic times, Stanley Grayson’s decades of professional and life experience, particularly in public finance, will be a major asset. I’m pleased to welcome him to the Board and look forward to tackling together the challenges and opportunities before us.”

Mr. Grayson is currently the President and Chief Operating Officer of M.R. Beal and Company, an investment banking firm focused on public finance, corporate debt and equity, fixed-income sales and trading, and financial advisory services. Prior to joining M.R. Beal in 2002, Mr. Grayson was a Managing Director and Manager of Prudential Securities Public Finance Department, and a member of the firm’s Operating Committee where he oversaw the public finance activities of Prudential Securities.

Prior to his investment banking career, Mr. Grayson held several senior positions in New York City government, including Deputy Mayor for Finance and Economic Development, Finance Commissioner and Chief Executive Officer of the New York City Industrial Development Agency. Mr. Grayson began his legal career in the Law Department of the Metropolitan Life Company.

Mr. Grayson serves on the Board of Directors of New York Catholic Charities; Brooklyn Information & Culture Inc.; The Alliance for Downtown Business; The New York City School Construction Authority; and he is a trustee of the Churchill School and Center. He received a BA from the College of Holy Cross and his law degree from the University of Michigan Law School.

CONTACT:
The Port Authority of New York and New Jersey
Candace McAdams or Steve Coleman, 212 435-7777

The Port Authority of New York and New Jersey operates many of the busiest and most important transportation links in the region. They include John F. Kennedy International, Newark Liberty International, LaGuardia, Stewart International and Teterboro airports; AirTrain JFK and AirTrain Newark; the George Washington Bridge and Bus Station; the Lincoln and Holland tunnels; the three bridges between Staten Island and New Jersey; the PATH (Port Authority Trans-Hudson) rapid-transit system; Port Newark; the Elizabeth-Port Authority Marine Terminal; the Howland Hook Marine Terminal on Staten Island; the Port Authority Auto Marine Terminal; the Brooklyn Piers/Red Hook Container Terminal; the Greenville Yard-Port Authority Marine Terminal; and the Port Authority Bus Terminal in midtown Manhattan. The agency also owns the 16-acre World Trade Center site in Lower Manhattan and is a partner in the Access to the Region’s Core tunnel project.