William J. Fawell, Palos Verdes Estates assistant city manager and planning director, has resigned and will become an investment banker in public finance with Miller & Schroeder Financial Inc. in Solano Beach. Fawell, who leave the city Oct. 25, will develop capital improvement bond issues for public agencies.
"This is a step forward for me because I want to be involved with something in the business area, but I'm leaving with mixed emotions because it's been a lot of fun to work in the city," said Fawell, who came to Palos Verdes Estates 3 1/2 years ago. He said his new salary is a "substantial increase" over the $40,000 a year he has been paid by the city.
While with the city, Fawell worked on a revised service-fee system, the utility users tax that finances capital improvements and restructuring of the city's self-insurance program. Fawell said the city was able to reduce premiums and increase liability coverage by joining the Southern California Joint Powers Insurance Authority, a consortium of cities that share insurance costs.
Fawell, 37, and wife Mary live in San Pedro with two sons. Before working in Palos Verdes Estates, he spent about four years in Rolling Hills estates as administrative assistant and assistant to the city manager.
City Manager Gordon Siebert said there may be staff reorganization and that no decision has been made about replacing Fawell.