FOR IMMEDIATE RELEASE:
July 14, 2009
GOVERNOR PATERSON APPOINTS JAY WALDER TO SERVE AS CEO AND CHAIR OF THE METROPOLITAN TRANSPORTATION AUTHORITY
International Search Produces Candidate with Stellar Credentials
Governor David A. Paterson today announced the appointment of Jay Walder to serve as the Chief Executive Officer and Chair of the Metropolitan Transportation Authority (MTA). Mr. Walder is a Partner in McKinsey's London office and the Global Leader of McKinsey's Infrastructure Practice, where he specializes in the areas of large-scale capital investments, public-private partnerships and urban transit. From 1983 to 1995, he served in a variety of positions within the MTA, including Executive Director and Chief Financial Officer from 1993 to 1995.
"As Chief Executive Officer and Chair, Jay Walder will assume leadership of the MTA at one of the most significant junctures in its history. I am certain that with his breadth of experience and insight, Jay will shepherd the Authority into the 21st century, helping to achieve fiscal solvency as well as greater transparency and public accountability," Governor Paterson said. "With Jay's record of ingenuity and his familiarity with global transportation systems, including the MTA, he will bring new life to the organization to better serve all its customers."
"I applaud the Governor's selection of Jay Walder and am confident both in his knowledge of our public transit system and in his ability to bring about the forward-looking transformations the MTA will need to better serve the public," said Lieutenant Governor Richard Ravitch, Chair of the Commission on MTA Financing and former Chair of the MTA. "Jay is a valuable addition and will aptly address the challenges ahead to secure the Authority's future."
"I want to thank Governor Paterson for his confidence in me," said Mr. Walder. "One of the most rewarding experiences of my career was to serve as part of the MTA's rebuilding program and the opportunity to return to the city where I grew up and where I spent much of my career is truly special and exciting. I look forward to working each and every day to ensure that the people of this great city have access to a transit system that is safe, efficient and effective."
Prior to joining McKinsey, Mr. Walder was the Managing Director of Finance and Planning at Transport for London (TfL). He was responsible for the successful integration and operation of business and planning functions across the range of TfL's activities. He led the implementation of the widely successful Oystercard, now the largest contactless smartcard in Europe, helped to create a $20 billion capital investment program for London Transport, and served on the Board of Directors of Crossrail, a new $30 billion long-term rail-line under London.
Mr. Walder was a Lecturer at the Harvard Kennedy School of Government, where his teaching and research interests were in the areas of transportation and infrastructure finance. He served as a Visiting Professor at the National University of Singapore during the 1999-2000 academic year.
Before joining the Kennedy School Faculty, Mr. Walder was the Executive Director and Chief Financial Officer at the MTA, the largest passenger transport system in the United States. He began his professional career in the Executive Office of the President of the United States.
Mr. Walder is a member of the Taubman Center Advisory Board at the Harvard Kennedy School of Government, the Board of Advisors for the Eno Transportation Foundation in Washington, D.C., and the Board of Trustees for the American School in London. He received his Bachelor of Sciences from Harpur College at the State University of New York at Binghamton, a Masters in Public Policy from the Harvard Kennedy School of Government, and completed the Executive Programme in Strategic Leadership from Templeton College at Oxford University.
Mr. Walder's appointment is subject to Senate confirmation.