Frank J. Soriano,
Senior Managing Director,
Municipal Investment Banker

Before joining the newly formed Caldwell Sutter Capital, Inc. in July, 2017, Mr. Soriano had co-founded Sutter Securities Incorporated in San Francisco serving as president since its inception in 1992. Prior to 1992, Mr. Soriano was a Senior Vice President in San Francisco for the nationwide securities firm of PaineWebber Incorporated. He first joined PaineWebber and predecessor firms (Blyth & Co., Inc., Blyth Eastman Dillon and Blyth Eastman PaineWebber) in 1964.  As a result of his expertise in public finance, Mr. Soriano rose to become the firm's top public finance revenue producer in 1984. Since then, he has completed over $21.0 billion financings for public entities in California, Nevada, Alaska, Oregon and Alabama including as Co-Senior Manager to the $486,130,000 The Regents of the University of California Limited Project Revenue Bonds 2010, Series F (Taxable- Build America Bonds), and $200,000,000 The Regents of the University of California General Revenue Bonds 2010 Series V (Taxable Build America Bonds) as well as $195,675,000 2010 Series E.

Mr. Soriano's public finance experience prior to his 30 years with PaineWebber was with the San Jose Airport Division where he handled financings for both San Jose's municipal airport and its municipal water system.

During his public finance career, Mr. Soriano has financed almost every type of public purpose project, with an emphasis on tax allocation financings and public power and water projects. He currently represents    Caldwell Sutter Capital for underwritings of bond issues of the California State Treasurer’s Office as he had done so since 2010 while at Sutter Securities. Historically Mr. Soriano's clients have included the cities and redevelopment agencies of Los Angeles, San Francisco, San Diego, San Jose, Oakland, Sacramento, Anaheim, Pasadena and Santa Clara. Joint Powers Authority (JPA) clients have included the City of San Jose Financing Authority (Redevelopment Agency of the City of San Jose), Suisun/Solano Water Authority, the Local Government Financing Authority, the California Loan Purchase Financing Authority, the South Gate Public Finance Authority and the La Quinta Financing Authority. He served as an investment advisor to the State of Alaska for its initial $1 billion portfolio of North Slope Oil funds.

Mr. Soriano’s other power and water related investment banking work includes assignments for the Merced Irrigation District, Nevada Irrigation District, Solano Irrigation District, Oakdale Irrigation District, South Feather Water and Power, Madera Irrigation District, the Northern California Power Agency and the MSR (Modesto-Santa Clara-Redding) Public Power Authority.  

Mr. Soriano is a past president of the Municipal Forum of San Francisco and a former member of the Municipal Bond Club of San Francisco and the San Francisco Bond Club. He has been a long-time member of the Association of California Water Agencies, the California Municipal Utilities Association, the American Public Power Association and the Urban Land Institute. Mr. Soriano received his BS and MBA from Santa Clara University.



  • Municipal Principal

  • Municipal Representative

  • Municipal Advisor

  • General Securities Principal

  • General Securities Representative

  • Investment Banking

Phone  | (415) 352-6349

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