Andy Gurley, VHFA’s underwriter and loyal partner from its creation through his retirement in 2008, died suddenly of a heart attack on Monday. A prominent banker in the municipal bond industry, Gurley played a role in the creation of the VHFA in 1974, providing guidance to the state and explaining how it would benefit from a housing finance agency.
VHFA formally recognized Gurley’s contributions in 2008 at its biennial statewide housing conference, an honor rarely bestowed on a bond underwriter. Sarah Carpenter, VHFA’s executive director, explained that “he was a financial partner that you could really trust. He was honest with us and would come ready to fix things,” Carpenter continued.
Once VHFA officials met Gurley 30 years ago, his unique public finance prowess and engaging communication style kept him involved in virtually every bond deal VHFA did. Gurley worked at PaineWebber until it was acquired by UBS, where he worked until 2008, when the firm exited the municipal business and he retired.
Gurley loved Vermont. Three of his four children attended the University of Vermont. He also loved New England and was one of the top producers of the region’s housing and general obligation bond issues.
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