Mayor's Office Press Release #317-03
FOR IMMEDIATE RELEASE
November 3, 2003
Ed Skyler / Jennifer Falk (212) 788-2958
Tracy Paurowski (HDC) (212) 227-9496
MAYOR MICHAEL R. BLOOMBERG APPOINTS EMILY YOUSSOUF
AS PRESIDENT OF CITY'S HOUSING DEVELOPMENT CORPORATION
Mayor Michael R. Bloomberg announced the appointment of Emily Youssouf as President of the New York City Housing Development Corporation (HDC). The HDC board members approved of the appointment during a special session held today. HDC is a public benefit corporation established to finance the creation and preservation of affordable housing throughout New York City. Through the Mayor's New Housing Marketplace Plan: Creating Housing for the Next Generation, HDC has committed $500 million to finance 17,000 units of affordable housing over the next five years.
"Affordable housing is fundamental to New York City's long-term prosperity and in these difficult economic times the City, through HDC, has found innovative new ways of financing it," said Mayor Bloomberg. "Emily brings with her over 25 years of structuring innovative financing strategies, including those for affordable housing, and she brings to HDC the leadership and experience necessary to continue its mission of housing New York's hard-working people."
As part of her responsibilities, Youssouf will continue to improve the policies and procedures that have already been implemented to ensure the integrity of HDC's operations and internal controls. Prior to her appointment, Emily Youssouf served as President of Natlis Settlements from 2000-2003, a specialty finance company, where she sourced institutional financing alternatives. Youssouf also has held various senior positions at Credit Suisse First Boston from 1994-1999, Daiwa Securities from 1992-1994, Prudential Securities from 1989-1992, and Merrill Lynch from 1982-1989. During her tenure at Merrill Lynch, Youssouf was a Managing Director in the Housing Finance Department where she was responsible for securing and syndicating mortgage- and asset-backed securities. She also served as a senior banker at Merrill Lynch on over $2 billion of tax-exempt housing bond transactions. Youssouf began her financial services career in 1978 at Standard & Poor's where she was Vice President of the Tax-Exempt Housing Finance Group, specializing in tax-exempt bond finance for both multi and single-family housing. Youssouf is a resident of Lower Manhattan.
"This is a very exciting time for HDC," said HDC President Youssouf. "The Mayor has given his vote of confidence to the Corporation through the responsibility of financing the initiatives set forth in his housing plan and has given me his confidence to guide the agency in fulfilling the goals. I'm looking forward to working with Mayor Bloomberg and the staff at HDC in continuing to bring affordable housing to the people of New York City."