PFM Welcomes Xay Khamsyvoravong

PFM Financial Advisors, the nation’s leading independent municipal advisor,1 announced today that Xay Khamsyvoravong has joined PFM as a Director. Mr. Khamsyvoravong brings more than two decades of experience to PFM.

“Xay is a fantastic addition to our team,” said Scott Shearer, Managing Director. “His experience as an issuer, municipal advisor, underwriter, commercial banker, and civic leader brings a wealth of knowledge to PFM. Throughout his career, Xay has executed hundreds of infrastructure  financings totaling over $2.5 billion, for projects ranging from highway systems to water utilities. Xay brings the expertise and authentic commitment to public service that PFM’s clients deserve,” noted Shearer.

Xay previously worked as a Managing Director and Head of Asset Operations for US Infrastructure Partners at CBRE Investment Management. Prior to that, he spent nearly a decade at Webster Bank, where he worked with state and local governments throughout the Northeast and Mid-Atlantic as Senior Vice President and Head of Government Lending. Xay began his financial career as a public finance banker at Morgan Stanley.

“I chose PFM because of its sincere and undivided commitment to serving our communities for the long haul. PFM's continuous investment in its people has built the industry’s deepest bench of talent, and it's equipped that team with data driven technology to ensure we can deliver the solutions our communities need to navigate our increasingly complex world,” remarked Xay.

Xay also has an impressive track record in civic leadership. As Deputy Chief of Staff to Rhode Island’s State Treasurer in 2008, Mr.  Khamsyvoravong successfully guided the state through the financial crisis. He spent nearly a decade as Chairman of Providence Water, one of the largest water utilities in the Northeast, and recently spearheaded Rhode Island Governor Daniel McKee’s Transition Working Group on Transportation and Infrastructure. In 2022 he was listed as one of the “23 to Watch in 2023” by the Providence Journal and in 2023 was listed as one of the forty-five most powerful people in Rhode Island by Rhode Island Monthly.

Xay is a double graduate of Brown University, where here earned a B.A. in International Relations and a Masters in Public Affairs. He holds a Juris Doctor from Roger Williams University School of Law, where he graduated magna cum laude and was published for his research on Asset Transfers, which received coverage from the Boston Globe and Bond Buyer. He is a licensed attorney in the States of Connecticut and Rhode Island.

About PFM

At PFM, financial advisors and consultants partner with clients to transform their world. Our clients have individual needs, and our tailored advice reflects this. We have the flexibility to support the largest endeavors any client could contemplate with teams that maintain the camaraderie, collaboration, and creativity that define working with PFM. We combine superior financial advice, disciplined management, and ingenuity to build, power, move and educate.

PFM is the marketing name for a group of affiliated companies providing a range of services. All services are provided through separate agreements with each company. This material is for general information purposes only and is not intended to provide specific advice or a specific recommendation.

For more information regarding PFM’s services or entities, please visit For important disclosure information, please visit

1PFM’s financial advisory business consists of PFM Financial Advisors LLC presently and also included Public Financial Management, Inc. through December 6, 2021. PFM Financial Advisors LLC commenced operations on June 1, 2016. All transactions prior to such date were effected through Public Financial Management, Inc.

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