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Pension Commission Investment Diversity Program

City of Hartford Treasury officials stated that the longstanding obstacles of discrimination and exclusion are well known within the financial services industry. For too long minority and women candidates have been excluded from the opportunity to participate, grow and thrive within the industry. We seek to end these inequities. The recent events that have occurred within our nation have exposed the systematic racism and social injustice in our society and have prompted many firms to commit themselves to improving and increasing the level of diversity within their organizations. These efforts, while notable, will not be meaningful without a comprehensive plan, meaningful action and a higher level of accountability. As such, the City of Hartford’s Municipal Employees’ Retirement Fund (“MERF”) is announcing its’ Diversity Report Card.

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WANT TO LEARN MORE ABOUT HOW THE TREASURER'S OFFICE PARTNERED WITH LIBERTY BANK & CATIC TO MAKE IT EASIER FOR YOU TO BECOME HOMEOWNERS IN HARTFORD?

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Meet The Honorable Adam M. Cloud

Adam M. Cloud, a lifelong resident of the City of Hartford, brings to the City Treasurer’s Office more than 30 years of experience in financial services with leading institutions. A former Director within the Public Finance Group of Advest, Inc., Mr. Cloud structured several billion dollars’ worth of bond transactions which financed major infrastructure projects such as schools, parking facilities, and student housing. Locally, Mr. Cloud’s financings included The Bushnell, UConn and the Connecticut Children’s Medical Center. Mr. Cloud was also a Managing Director of Loop Capital Markets, a leading minority-owned public finance and capital markets firm. Most recently, Mr. Cloud served as a partner at Brewer Lane Ventures, an early-stage Fintech Venture Capital firm location in Boston, Massachusetts. Mr. Cloud leverages his deep experience in financial services in his role as Treasurer of the City of Hartford.

The Hartford City Treasurer is an elected official who, pursuant to the Charter of the City of Hartford, is the custodian and investor of all City funds. As City Treasurer, Mr. Cloud is responsible for an investment portfolio of approximately 1.2 billion dollars. He also administers the City’s deferred compensation program and its pension benefits. He serves as co-issuer with the Mayor of all City bonds and he invests and disburses City trust funds. He oversees the City’s banking services, including investment of the City’s $654 million budget. Through the City’s Economically Targeted Investment program, Mr. Cloud maintains investments that promote economic growth, development, and job creation in the City of Hartford.