Newcomb Williams Financial Group (NWFG) is a newly formed investment banking firm providing underwriting and financial advisory services to municipalities, government organizations, nonprofit corporations and school districts. CBJ interviewed President Pam Newcomb, Senior Vice President Janees Williams and Vice President Beth Fawcett about their beginnings in financial advisory services, working with public sector clients and the advantages of being a boutique firm.
1. Tell us about your career and explain if there were any key experiences that led you to work in the area of financial advisory services specializing in local government.
Newcomb: I started my career in public finance working for a large California county. During my tenure with the county I developed several mechanisms to finance affordable housing. Moving over to the private sector allowed me the opportunity to continue financing affordable housing using tax-exempt bonds.
Williams: I started in public finance investment banking in October 2000. I was introduced into the profession by my father, Bruce Williams, who was the Town Manager of Apple Valley.
2. How has the field changed since you started your career?
Newcomb: During my time in the public sector I have seen the number of investment banking firms shrink, especially the number of smaller investment banking firms. I believe this gives us an opportunity to shine as a smaller firm.
Fawcett: No doubt the compliance side our business has changed immensely through the years, with more regulations put on our industry each year. We are committed to staying on top of the new rules for not only our business, but for the client.
3. Is providing financial advisory services to local government clients different than working with private sector clients? What are the unique challenges and rewards of working with public sector clients?
Newcomb: Yes, it’s different in that we are here to help our clients be the “stars”. The challenge is always that our time frame to complete a deal may be different than the clients’, since completing the deal and doing a great job is our number one priority. However, sometimes our clients have other priorities because they have many ongoing activities other than finance.
4. What are two advantages NWFG brings to the table?
Newcomb: Our service oriented appeal and our creativity. These are two things a smaller firm offers over larger bureaucratic firms.
Williams: As Pam mentioned, we are a small a firm without a lot of bureaucracy, which allows to meet our clients expectations in a timely manner.
5. Are there any hobbies or activities you enjoy outside of work?
Newcomb: Hobbies I enjoy are world travel- I have been on all 7 continents and am looking forward to a trip in the Arctic to visit the polar bears. I also enjoy fly-fishing with my husband.
Williams: Shop, shop, shop and avoid nature.
Fawcett: Many years of fishing and hunting adventures with my husband. Entertaining and cooking for my family and friends.The biggest joy of all…spending time with our grandchildren, Greer, Ford and Phoenix….Priceless!
1. Tell us about your career and explain if there were any key experiences that led you to work in the area of financial advisory services specializing in local government.
Newcomb: I started my career in public finance working for a large California county. During my tenure with the county I developed several mechanisms to finance affordable housing. Moving over to the private sector allowed me the opportunity to continue financing affordable housing using tax-exempt bonds.
Williams: I started in public finance investment banking in October 2000. I was introduced into the profession by my father, Bruce Williams, who was the Town Manager of Apple Valley.
2. How has the field changed since you started your career?
Newcomb: During my time in the public sector I have seen the number of investment banking firms shrink, especially the number of smaller investment banking firms. I believe this gives us an opportunity to shine as a smaller firm.
Fawcett: No doubt the compliance side our business has changed immensely through the years, with more regulations put on our industry each year. We are committed to staying on top of the new rules for not only our business, but for the client.
3. Is providing financial advisory services to local government clients different than working with private sector clients? What are the unique challenges and rewards of working with public sector clients?
Newcomb: Yes, it’s different in that we are here to help our clients be the “stars”. The challenge is always that our time frame to complete a deal may be different than the clients’, since completing the deal and doing a great job is our number one priority. However, sometimes our clients have other priorities because they have many ongoing activities other than finance.
4. What are two advantages NWFG brings to the table?
Newcomb: Our service oriented appeal and our creativity. These are two things a smaller firm offers over larger bureaucratic firms.
Williams: As Pam mentioned, we are a small a firm without a lot of bureaucracy, which allows to meet our clients expectations in a timely manner.
5. Are there any hobbies or activities you enjoy outside of work?
Newcomb: Hobbies I enjoy are world travel- I have been on all 7 continents and am looking forward to a trip in the Arctic to visit the polar bears. I also enjoy fly-fishing with my husband.
Williams: Shop, shop, shop and avoid nature.
Fawcett: Many years of fishing and hunting adventures with my husband. Entertaining and cooking for my family and friends.The biggest joy of all…spending time with our grandchildren, Greer, Ford and Phoenix….Priceless!
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