Muni bond relationship manager sees impact of her work across Ohio

Carla Hofmann helps clients think through not only the bond deal immediately at hand but their plans for years ahead

Carla Hofmann can see the impact of her work as a relationship manager on the municipal bond team, which works primarily with local governments and healthcare systems to finance public projects, as she travels around her home state of Ohio – significant renovations at an international airport, a new wing at a major hospital system, just to name a few.

“The other day I was driving past a new school building, and I thought to myself: I was a part of that,” said Hofmann, who lives in Cincinnati. “A lot of what we work on is very positive for the community, which is one of the things I love about my job.”

Another aspect Hofmann loves about her job is helping her clients think through not only the bond deal immediately at hand but also what their plans are for years ahead. As an example, in talking with several of her clients she discovered that they had a desire to improve their investment management, so she introduced colleagues from U.S. Bank affiliated PFM Asset Management (PFMAM), a subsidiary of U.S. Bancorp Asset Management, Inc., which works with public sector investors to build fixed income and multi asset strategies. The introductions to PFMAM colleagues resulted in several clients deciding to move their investment strategies to PFMAM.

Hofmann’s ability to listen to clients to identify pain points and opportunities for interconnectivity across the bank really sets her apart, said Karolina Donlin, senior vice president in global corporate trust and Hofmann’s manager.

“Her talent for tuning into client needs and spotting opportunities makes her a standout,” Donlin said.

Since 2009, Hofmann has been the bond relationship manager for Life Enriching Communities (LEC), a nonprofit Cincinnati-based senior living community. She’s worked alongside LEC as it grew from operating two facilities in Cincinnati to more than doubling in size as it expanded to Cleveland and Columbus, which also required a broader and more complex partnership between LEC and U.S. Bank.

Kevin McDonnell, LEC’s chief financial officer, joined the company in 2022 and was impressed at how easy Hofmann made the transition for him with U.S. Bank.

“Coming in as the new CFO I might’ve brought in a new (bond management) relationship, but with Carla it was never a question. She made it immediately apparent how valuable that partnership is and the strengths she brings,” he said.

Hofmann’s career started as a team lead in a call center at a division of General Electric, and that experience proved to be invaluable in her next role as a recruiter for a large regional bank. One of the departments she supported at the bank was having trouble with its call center, and in a conversation with a senior executive she quickly rattled off five suggestions to fix it – which ultimately resulted in a new job to oversee the bank’s corporate trust call center.

“I knew nothing about banking; I knew nothing about bonds. It was a crash course in corporate trust while I learned really quickly how to help the people on my team,” she said.

After several years, Hofmann moved into a role at another bank as a relationship manager in the bond business before she landed at U.S. Bank in 2009. At the bank, she’s enjoyed the relationships she’s built not just with clients but with her colleagues and the centers of influence she works with in Ohio – the underwriters, bond counsel, municipal advisors and others in the bond industry.

“In the world that I work in, you get to see some really cool stuff – like the inner workings of a major hospital system or attending the groundbreaking of a new airport terminal,” she said. “It really means a lot when your clients feel like you’re such a valued partner that they bring you into that.”