A friend asked their banker recently an interesting question (the bank is a national chain that has several branches in SF). They brought up Alex Jensen running for city council and being a business banker for First Premier and asked if their bank would allow this? He said, ‘Absolutely NOT’. He saw it as a major conflict of interest especially if the bank was seeking to do business with the city. Currently First Premier has an exclusive contract with the city of Sioux Falls. They used to spread the city’s accounts around to several banks in town, but the last mayor ended that.
Finance Director Pritchett has suggested though that a new RFP should be probably put out. Yah think?