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December 15, 2017

Blackstone’s Mulrow Becomes Cuomo’s Top New York Aide

New York Governor Andrew Cuomo appointed as
his top aide William Mulrow, a senior managing director at
Blackstone Group LP, the world’s largest alternative asset

manager.

The move comes as Cuomo, a 57-year-old Democrat, embarks on
his second term. It was part of a wider staff shuffle that
included the appointment of Cuomo’s budget director, Robert Megna, as the new director of the New York State Thruway
Authority, operator of the largest U.S. toll road.

“New ideas and talent are critical to innovation and
success,” Cuomo said in a statement e-mailed today that
announced the changes. “This team will build on the
extraordinary progress made over the last four years by bringing
experience, energy and fresh perspectives to the table.”

Mulrow, who was Cuomo’s appointee as the chairman of the
New York State Housing Finance Agency, replaces Larry Schwartz,
who is leaving for the private sector. Cuomo’s closest adviser
through his first term, Schwartz has been questioned by the U.S.
Attorney’s Office in Manhattan over the administration’s
meddling with an anti-corruption panel the governor created in
2013 to probe the legislature.

Still, turnover at the beginning of a new term is typical
of any administration, and Mulrow brings with him decades of


political and government work. He was a senior adviser to the
1990 re-election campaign of three-term Governor Mario Cuomo,
Andrew’s father who died Jan. 1, and was director of the United
Nations Development Corporation, among other posts, according to
Cuomo’s statement. He’ll leave Blackstone, where he was a senior

managing director of the investor relations and business
development group.

Tappan Zee

At the Thruway Authority, Megna will replace Tom Madison,
who resigned last month. The agency is building a $4 billion
replacement for the Tappan Zee Bridge across the Hudson River,
among the nation’s largest infrastructure projects.

As part of building the span, the authority’s debt load may
swell to more than $7 billion, from about $3.7 billion in 2013,
by the time the job is finished in 2018. The agency hasn’t
provided a specific plan to pay for it, according to budget
documents.

Last month, the agency approved a $1.7 billion budget with
a deficit of about $25 million and no plan to close it. The gap
is projected to grow to $300 million in 2018, budget documents
show.

To contact the reporter on this story:
Freeman Klopott in Albany at
fklopott@bloomberg.net

To contact the editors responsible for this story:
Stephen Merelman at
smerelman@bloomberg.net
Joshua Gallu, Bernard Kohn

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This article:  

Blackstone’s Mulrow Becomes Cuomo’s Top New York Aide