"I am proud to welcome Adam Blumenthal to the Comptroller's Office," Comptroller Thompson said. "He brings a wealth of financial management experience to the table, and will provide valuable guidance at a time when we must address important issues that impact the financial performance of the City."

In his new role, Mr. Blumenthal will manage the Comptroller's financial operations, including Budget, Pensions and Investments, and Public Finance. The Comptroller's Office employs more than 700 staff members including accountants, financial and investment analysts, and economists.

The search was conducted with assistance from the New York office of Korn/Ferry International, an executive search firm.

Mr. Blumenthal is recognized as an international expert in employee ownership and employee buyouts. Prior to this position, he served as Vice Chairman of American Capital Strategies, Ltd. since May 2001, and directed all of American Capital's investment advisory committee activities. Mr. Blumenthal, who was also a member of the investment advisory committee, joined American Capital in 1989.

Previously, Mr. Blumenthal had raised financing for, negotiated and closed employee buyout transactions for large and mid-size companies. In addition to his participation in more than 25 employee buyout transactions in the United States, he assisted with employee ownership and privatization projects in several countries.

Mr. Blumenthal received his M.B.A. in Finance from the Yale School of Management and was elected to the Board of Directors of the Yale SOM alumni association in 1996. He received his B.A. magna cum laude from Harvard College.