Andy Nakahata is the Executive Director at IBank.

Prior to being appointed by Governor Newsom in 2025 as Chief Deputy Executive Director and Chief Operating Officer of the California Infrastructure and Economic Development Bank (IBank), Andy Nakahata spent more than 30 years working with state and local governments, public and private universities, public utilities and other entities developing financing solutions to fund infrastructure projects through the tax-exempt and taxable debt markets.

Nakahata is a native of San Francisco and a long-time Bay Area resident. Prior to joining the IBank, he worked at TD Securities as Director and Western Region Head, UBS Financial Services as Managing Director and Regional Head of Public Finance, West Region, and National Public Finance Guarantee Corporation as Managing Director and Head of West Region New Business building each respective firm’s presence and business in the western region. Nakahata also served as a public finance investment banker with Citigroup, J.P. Morgan and Goldman Sachs.

Nakahata has spent his career finding creative solutions to fund public infrastructure projects at the lowest cost of funds. He plans to leverage his experience as a banker and financial services executive to further strengthen the IBank’s mission to provide financial assistance to support infrastructure and economic development.

A testament to his connection with the California public finance industry, Nakahata has served five times as Co-Chair of the California Bond Buyer Conference, the largest public finance conference in the country.

Nakahata is an active community member, currently serving as Treasurer of the Board of Trustees of San Francisco University High School and is a current and founding member of the Board of Directors of Asian Americans in Public Finance. He previously served as Chair of the Board of Trustees of Marin Country Day School, Secretary of the Board of Directors of Kokoro Assisted Living, Treasurer of the Board of Directors of Enterprise for Youth and member of the Board of Directors of the Asian Pacific Youth Leadership Project.

Fiona Ma is California’s 34th State Treasurer. She was first elected on November 6, 2018, with more votes (7,825,587) than any other candidate for treasurer in the state’s history and reelected on November 8, 2022. She is the first woman of color and the first woman Certified Public Accountant (CPA) elected to the position. The State Treasurer’s Office was created in the California Constitution in 1849.

It provides financing for schools, roads, housing, recycling and waste management, hospitals, public facilities, and other crucial infrastructure projects that better the lives of residents. California is poised to become the world’s fourth-largest economy and Treasurer Ma is the state’s primary banker. Presently, her office processes more than $3 trillion in banking transactions. She provides transparency and oversight for the government’s investment portfolio and accounts, as well as for the state’s surplus funds. Treasurer Ma oversees an investment portfolio that currently averages over $200 billion—a significant portion of which is beneficially owned by more than 2,200 local governments in California. She serves as agent of sale for all State bonds and is trustee of billions of dollars of state indebtedness.