Basil Paterson Named Port Authority Commissioner

Media Source: State News Service

ALBANY, NY - The following information was released by the office of the governor of New York:

Governor Andrew M. Cuomo today announced the confirmations of Basil A. Paterson and Kenneth Lipper to serve as Commissioners of the Port Authority of New York and New Jersey (PANYNJ) by the New York State Senate.

'The Port Authority of New York and New Jersey plays a critical role for the downstate economy and I know Basil and Ken will be exceptional additions to its Board of Commissioner,' Governor Cuomo said. 'I applaud them both on their confirmations and look forward to having them help guide Port Authority as it continues to upgrade its vast infrastructure in the most cost-effective way possible.'

Basil A. Paterson said, 'I thank Governor Cuomo for giving me the opportunity to return to the Port Authority's Board of Commissioners. I look forward to serving with my fellow Commissioners, and am dedicated to enhancing the services of the Port Authority as it strives to help the region move smoother than ever before.'

Kenneth Lipper said, 'I want to thank Governor Cuomo for giving me the opportunity to serve on the Port Authority's Board of Commissioners. The Governor has made great progress in restoring the competence of state government over the past three years. I am honored to join the Port Authority's Board and look forward to working with my fellow Commissioners to build a stronger, better, and more efficient Port Authority for the people of New York and New Jersey.'

'Governor Cuomo has selected two exceptional individuals to serve on the Port Authority Board of Commissioners,' said Vice Chairman Scott Rechler. 'The combined experience of Basil Paterson and Kenneth Lipper in real estate, finance and labor issues will of great benefit as we continue to make critical reforms at organization, as well as move forward with an ambitious capital plan to restore our region's infrastructure, bring our airports into the 21st Century with a new Central Terminal Building at LaGuardia Airport, complete the rebuilding of Lower Manhattan at the World Trade Center site and build a new Goethals Bridge in the coming years.'

'I welcome Commissioners Paterson and Lipper to the Port Authority as we work to meet the goals laid out by Governor Cuomo,' said Port Authority Executive Director Pat Foye. 'Their expertise will be vital as we continue to transform the agency and return to our core mission of building and operating critical transportation infrastructure and serving as an economic engine for the region.'

Basil Alexander Paterson is a member of the law firm of Meyer, Suozzi, English and Klein and Co-Chair of the firm's Labor practice.

Mr. Paterson is a Harlem native and former New York State Senator, having first been elected in 1965. A former New York City Deputy Mayor for Labor Relations and Personnel, he was appointed as New York's first African American Secretary of State in 1979. He previously served on the Port Authority's Board of Commissioners from 1989 to 1995. Mr. Paterson has also taught at the State University of New York at New Paltz, Fordham University School of Education, and Hunter College. He is a double alumnus of St. John's University in Queens.

Kenneth Lipper brings years of experience in public and private sector management and investment banking to the Port Authority. Since 1987 he has served as Chairman and Chief Executive Officer of Lipper and Co. LLC, an investment management and investment banking firm. He is has also been a Director of CNH Global NV, a leading agricultural and construction equipment company since 1996.

Previously, Mr. Lipper was Executive Vice President and Senior Adviser of the leading global real estate firm Cushman and Wakefield. He also served as Advisor and Deputy Mayor to New York City under Mayor Ed Koch, and is a former adjunct professor at Columbia University's Graduate School of International and Public Affairs.