Ann Flynn Joins RBC Dain Rauscher's Public Finance Team as Managing Director

NEW YORK, Aug. 11 /PRNewswire/ -- Ann Flynn, formerly the Director of the Office of Public Finance for the State of New Jersey, has joined RBC Dain Rauscher, one of the most active public finance teams in the country, as managing director in the New York office. Ms. Flynn will be responsible for working with large issuers in the Northeastern U.S.

"Ann is a highly-regarded public finance professional, trained as both an investment banker and a bond lawyer. She brings a unique and broad perspective to an already experienced New York team," Chris Hamel, public finance banking director stated. "We are thrilled she is joining us."

Flynn is looking forward to rejoining the private sector. "I have greatly enjoyed the opportunity to work on the issuer side at the State of New Jersey," said Flynn. "At RBC, I have found the right place for the next stage of my career given its long-standing commitment to public finance, its credit and derivatives resources, and its extensive and unique institutional and retail distribution network."

Flynn had been Director of New Jersey's Office of Public Finance since April 2002, responsible for the management, oversight and administration of all debt issuance by the State, including its tobacco securitizations. She also oversaw all state-backed debt issued by the state's authorities and agencies including some of the biggest public entities in the U.S. Flynn was also responsible for the management and oversight of the state's derivative portfolio of over $5.5 billion.

Prior to serving as the Director of Public Finance for the State of New Jersey, Flynn served as the Director of Project Management for the New Jersey Educational Facilities Authority. Flynn has also worked as both a bond lawyer and an investment banker, having held management positions in the public finance departments of Commerce Capital Markets, Inc., and Ryan, Beck & Company. In addition, Ms. Flynn served as a rating analyst at Moody's Investor Service.

RBC Dain Rauscher's public finance team is one of the largest in the United States, with 162 professionals in 28 offices across the country. The firm is also one of the most active municipal underwriters, having served as senior manager on 599 transactions last year and 377 in the first half of 2005, ranking sixth for senior managed negotiated issues. The public finance team operates as part of RBC Capital Market's global debt business. With more than 1,200 staff in 9 countries, RBC Capital Markets' debt teams provide a complete range of services, including debt finance, sales and trading, structuring and research.

RBC Capital Markets is an international corporate and investment bank. With nearly 3,600 professionals and support staff, the firm is part of one of the world's largest providers of financial services, Royal Bank of Canada (RBC) Toronto. Operating since 1869, RBC has more than US$360 billion in assets and one of the highest credit ratings of any financial institution (Moody's Aa2 and Standard & Poor's AA-).