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Robert Dailey, PNC’s former public finance chief, has moved to the U.S. Department of Treasury where he will take the helm of the municipal bond market-focused Office of State and Local Finance.
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The position was vacant for more than a year after Melissa Moye left the position in December 2024. Dailey’s first day was Jan. 26. He will be based in Washington, D.C.
“My first priorities are to engage both with the office and help the office engage with other partners in the market,” Dailey said. “I want to make sure I have a pulse on what the issues are and that the office is engaging with other market participants.”
Dailey had informal meetings last week with the Government Finance Officers Association and the National Association of Bond Lawyers, and plans to reach out to regulators and other industry groups in the next few weeks, he said.
“I want to make sure that I’m assembling all the flows of information and assessing what the issues are and where our efforts should go.”
The department, which sits under the Office of Public Finance, focuses on state and local finance issues, serves as Treasury’s liaison to state and municipal officials and associations and monitors developments in municipal bond markets. It also helps shape federal policy on federal debt management, financial market oversight and regulation, and federal credit and investment programs. The office was created in 2014 and first helmed by Kent Hiteshew, who joined the government from JPMorgan. Hiteshew retired in 2017.
The team under Dailey includes senior policy advisor Jacqueline Knights, former director of Oregon State Treasury who joined the federal treasury department in September 2023; policy advisor Nicolas Galimberti; senior policy advisor Patrick Early, previously at Wells Fargo Advisors, who joined in 2024; and an intern. The office has no current hiring plans, Dailey said.
The director is a non-political career civil service position that reports to the Deputy Assistant Secretary for Public Finance, under the Assistant Secretary for Financial Markets and the Under Secretary of Domestic Finance.
Dailey left PNC last July. He was at the firm for 13 years, from 2012 to 2025, where he was an executive vice president and head of public finance. Before that he spent 18 years at JPMorgan, where he was managing director and head of public finance for the eastern U.S.
Dailey was a vice president at Kidder, Peabody & Co. from 1985 to 1994. Prior to his public finance career, Dailey worked for a U.S. Representative in the United States House of Representatives, and with political committees.
“I’m excited about the chance to serve the industry and the market in a different capacity,” Dailey said. “I was in banking for a long time and this gives me a chance to support the market from another angle.”