Paul W. Kutey Appointed CFO and Treasurer of DASNY

New York City - - The Board of the Dormitory Authority of the State of New York (DASNY) met today and unanimously appointed Paul W. Kutey as Chief Financial Officer and Treasurer of the Authority.

Kutey will head the Finance Division which is responsible for the Authority’s accounting and treasury functions, including investment of funds, financial reporting, accounts payable, accounts receivable, debt service administration and funds management. The Finance Division also participates in bond issuances. The Division includes the Authority’s Information Services Unit, which develops, implements and maintains the computer hardware, software and telecommunications infrastructure for all Authority offices and construction field sites.

Paul T. Williams, Jr., Executive Director of DASNY, said: “Paul’s deep experience in the many facets of the banking and financial services industry makes him a great fit for the Dormitory Authority, one of the largest issuers of tax-exempt bonds in the nation. He has the skill set we need to help us maximize our performance and position ourselves to successfully seize the opportunities ahead.”

Kutey, 49, is a Certified Public Accountant. His executive suite career includes extensive experience and expertise in investment banking, financial planning and analysis, auditing, and operational oversight, including information systems. He was selected for the Dormitory Authority CFO position following a nationwide search which identified more than 50 candidates.

Kutey succeeds John Pasicznyk, the Authority’s CFO/Treasurer for the past 12 years who has assumed new duties as Managing Director, Construction and Metro New York Operations.

Kutey received a Bachelor of Business Administration - Accounting degree from Siena College.

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The Dormitory Authority, founded in 1944, is the largest higher education, health care and public-purpose issuer of public debt in the nation with an outstanding bond portfolio of more than $38 billion. The Dormitory Authority also is a major public builder in New York State with a construction pipeline of 719 projects valued at $6.9 billion.