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Walter Knorr Takes a Bow: Chicago Alderman Praise Departing CFO.
When Chicago's chief financial officer Walter Knorr appears before the City Council's Finance Committee to explain an upcoming bond sale and talk turns to the underwriting syndicate, committee chairman Edward Burke always gets a laugh as he points out the "Gucci crowd" of bankers and lawyers seated in a corner of the chamber.
After 13 years of working for Mayor Richard M. Daley, first as his comptroller and then as the CFO, Knorr will join that crowd later this month. Knorr recently announced month that he is leaving to take a job with Salomon Smith Barney Inc.'s local public finance group.
Burke and his fellow aldermen paid homage to Knorr last week at what will likely mark his final appearance before the committee. Aldermen -- from Burke to his less financially-inclined brethren -- showered Knorr with praise for his work on the city's budget, pension funds, and bond deals, and for answering their questions with patience.
"The respect he has generated in the financial community from Wall Street to the rating agencies in no small measure contributed to the opinion all observers have as to the strength of the city's financial position," said Burke, a longtime alderman who has served as chairman of the…
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Source: HighBeam Research, Walter Knorr Takes a Bow: Chicago Alderman Praise Departing CFO.
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