City’s Finance Commissioner is New Met Council Leader

In critical need of an immediate credibility boost, the Met Council on Jewish Poverty has appointed David Frankel, the city’s finance commissioner, as its new executive director and CEO.

William Rapfogel. Photo: Northeast Queens Jewish Community Council.

William Rapfogel. Photo: Northeast Queens Jewish Community Council.

Last week, Met Council head William Rapfogel was fired as state officials launched an investigation into financial misconduct.  Rapfogel, a Lower East Side resident, is a longtime ally of Assembly Speaker Sheldon Silver; Rapfogel’s wife is Silver’s chief of staff.   Yesterday, the influential organization announced that Frankel would be taking over starting September 30.

In a press release, Steven Price, board chairman, said,  (David Frankel’s) integrity, passion for public service and understanding of the importance of our work will be extremely valuable resources for Met Council and our employees, volunteers, donors and partners as we work together to address the problem of poverty in New York.”  Before being appointed as city finance commissioner, Frankel served as a managing director of Morgan Stanley.

The release also included a statement from Mayor Bloomberg that read, in part:

 

Met Council has made an outstanding choice… Being Finance Commissioner is a tough job – one that isn’t going to win you any popularity contests.  But David commanded the respect of anyone who worked with him because of his commitment to fairness.  Over the past four years, he has been dedicated to leveling the playing field for all New Yorkers by going after individuals and businesses that don’t play by the rules and protecting the ones that do.  His departure is a real loss for city government, but his talents and leadership will be put to outstanding use at Met Council, an organization that every year makes such a difference in our city.”
Rapfogel is under investigation by the State Attorney General and State Comptroller.  According to multiple news reports, he’s suspected of buying insurance policies at inflated prices with the understanding that the insurer, Century Coverage Corp., would make donations to specific political campaigns. The investigations are looking at whether Rapfogel received kickbacks.  Last week, $16 million in Met Council government contracts were frozen.