Frank J. Soriano

Before co-founding Sutter Securities Incorporated, Mr. Soriano was a Senior Vice President in San Francisco for the nationwide securities firm of PaineWebber Incorporated. He first joined PaineWebber and its predecessor firms (Blyth & Co., Inc., Blyth Eastman Dillon and Blyth Eastman PaineWebber) in 1964. As a result of his expertise in public finance, Mr. Soriano rose to become the firm's top public finance revenue producer in 1984. Since then, he has completed over 60 financings, totaling $5.0 billion, for public entities in California, Nevada, Alaska, Oregon and Alabama.

Mr. Soriano's public finance experience prior to his roughly 30 years with PaineWebber was with the San Jose Airport Division where he handled financings for both San Jose's municipal airport and its municipal water system.

During his public finance career, Mr. Soriano has financed almost every type of public purpose project, with an emphasis on tax allocation financings and public power and water projects. Mr. Soriano's clients have included the cities and redevelopment agencies of Los Angeles, San Francisco, San Diego, San Jose, Oakland, Sacramento, Anaheim, Pasadena and Santa Clara. His Joint Powers Authorities (JPA) clients have included the Northern California Power Agency, the City of San Jose Financing Authority (Redevelopment Agency of the City of San Jose), the M-S-R Public Power Agency, Suisun/Solano Water Authority, the Local Government Financing Authority, the California Loan Purchase Financing Authority, the South Gate Public Finance Authority and the La Quinta Financing Authority. He served as an investment advisor to the State of Alaska for its $1 billion portfolio of North Slope Oil funds.

Recent larger securities issues in which Mr. Soriano has served or is serving as senior investment banker or financial advisor include:

• $692,075,000 -- Redevelopment Agency of the City of San Jose Merged Area Redevelopment Project Tax Allocation Bonds, Series 1993 (Sole Financial Advisor).


• $273,000,000 -- Redevelopment Agency of the City of Los Angeles Bunker Hill Project Tax Allocation Bonds, Series 1993A (Tax Exempt) and 1993B (Taxable) (Sold December 1, 1993) (Co-Financial Advisor).


• $163,240,000 -- Northern California Power Agency Multiple Capital Facilities Revenue Bonds, 1992 Series A (Financial Advisor).


• $117,135,000 -- M-S-R Public Power Agency San Juan Project Revenue Bonds (1991), Series E (Senior Manager).


• $54,350,000 -- Redevelopment Agency of the City of San Diego (Centre City Redevelopment Project) Tax Allocation Bonds, Series 1993A (Taxable) and Series 1993B (Tax Exempt), (Sold November 2, 1993), (Senior Financial Advisor ).


• $52,055,000 -- Tri-Dam Power Authority (7.50% Sand Bar Project) 1994 Hydroelectric Refunding Revenue Bonds (Sole Manager).

Mr. Soriano is a past president of the Municipal Forum of San Francisco and a former member of the Municipal Bond Club of San Francisco and the San Francisco Bond Club. He has been a long-time member of the Association of California Water Agencies, the California Municipal Utilities Association, the American Public Power Association and the Urban Land Institute. Mr. Soriano is a graduate of Santa Clara University (B.S. 1959 and M.B.A. 1963).