Acting Director of Capital Finance
San Francisco International Airport
Hal Kotowsky is the Acting Director of Capital Finance at San Francisco International Airport (SFO). He oversees SFO's $11 billion debt portfolio, $600 million commercial paper program, and the capital markets and grants strategy behind its $12.5 billion Capital Improvement Plan. Since joining SFO in 2023, he has directed $4.8 billion of public bond issuance.
Hal brings more than 20 years of institutional finance experience spanning public infrastructure finance, structured credit, and portfolio management. Prior to joining SFO, he held senior roles at Wells Fargo Bank, where he was Co-Head of Structured Products, and at KKR Financial, where he led the firm's real estate securities and loan investment platform. He began his career in investment banking at Merrill Lynch & Co.
He holds a Bachelor of Science degree in Business Administration from the Haas School of Business at UC Berkeley.
In this session, experienced issuers and municipal advisors will discuss past refundings, their strategy, and how they measured the success of their refunding transactions. In light of the points made in prior sessions, panelists will explore the evaluation of refundings generally, the need to re-examine conventions, and the potential outcomes for altering strategy and practices in the future.