Mayor Richard M. Daley today named Paul A. Volpe Chief of Staff. Volpe, who has served as the City's Chief Financial Officer (CFO) since June 2007, replaces Lori Healey, who will be joining the Olympic bid committee as President of Chicago 2016.
"Paul has broad knowledge of city government and has proven himself to be a strong and innovative manager who can make tough, practical decisions," said Mayor Daley at a City Hall news conference. "He is well-qualified to take on this demanding role."
As Chief Financial Officer, Volpe had oversight of city budgetary and capital spending, all public-private partnership transactions, city debt issuance, rating agency relationships, the state of the city's pensions, and the overall strength of the city's financial profile.
He oversaw the successful Midway Airport and parking meter transactions. He also played a lead role in landmark Chicago Skyway and Chicago Downtown Parking agreements.
These projects have enabled the City to preserve and invest billions of dollars in infrastructure projects and services to protect taxpayers and help improve the quality of life for residents across the city. Through these transactions the City has achieved its highest bond rating in nearly 30 years.
"During the toughest economy our nation has faced in over fifty years, it is more important than ever that we manage our resources in a way that is responsible and creative," Daley added.
"Paul understands the difficult economic challenges that Chicago and other cities across the nation are facing and has played an integral role in helping us navigate through those challenges in a way that keeps our city moving forward while protecting taxpayers," the Mayor said.
"I look forward to working with Paul, who shares my commitment to find ways to jumpstart our economy, improve education, enhance public safety and ensure that Chicago remains a place where people want to live, work and raise a family, said Daley."
Prior to serving as CFO, Volpe was Budget Director for the City of Chicago from August 2005 through June 2007. As Budget Director, he oversaw the development and management of two $5 billion budgets, including a 2006 budget that was balanced with no tax or fee increases.
Daley also thanked Lori Healey for her hard work and dedication to the residents of our city in several roles over the last ten years.
"Since April of 2007, she has served as Chief of Staff during the most challenging economic time in recent history. Her knowledge of government and her ability to bring people together to achieve a common goal have made a major contribution to the progress of Chicago," the Mayor said.
During her time as Planning Commissioner and her time as Vice Chair of the Chicago Housing Authority, Healey was responsible for projects that have encouraged business and community development, created and retained jobs and generated public and private sector investment in our city, he said.
"Through her work in both the public and private sectors, she has demonstrated a commitment to strengthening all of our neighborhoods and to involving the community in the decision-making process.
"She understands how to keep Chicago competitive in the global economy and her combination of skills will make her a great addition to the Chicago 2016 team and strengthen our city's efforts to host the 2016 Olympic and Paralympic Games," Daley said.