LOS ANGELES -- Craig J. Walker has taken a leave of absence as a Prudential Securities Inc. managing director and head of the firm's West Coast public finance operations.
A source said Walker and Prudential officials agreed on his paid leave of absence, .which began Nov. 16.
Arthur B. Spector, Prudential managing director and manager of its publicfinance department, did not numerous phone calls yesterday.
Los Angeles-based Prudential vice president Janice Hahn said that during the interim period she is "handling some administrative duties" that were formerly assigned to Walker.
Walker, 32, has headed Prudential's public finance operations in Los Angeles and San Francisco since May 1993. He oversees about 10 investment bankers. He has been a Prudential employee for nearly five years.
Walker has previously worked in Prudential's Kansas City, Mo., and New York offices. During his career, he has been a senior banker and adviser to Virvus Jones, the comptroller of St. Louis.
Walker's abrupt departure forced him to withdraw from his role as headof Prudential's effort bidding for inclusion in the Los Angeles County Metropolitan Transportation Authority's underwriting pool. Pool participants, for a two-year period, will be announced next month.
"He was suddenly pulled from their proposal;' a source said. Walker "went from leading the effort to not being ino volved at all."
Hahn confirmed yesterday that Prudential is bidding for a role in the transportation authority's pool.
"Our proposal is already in," and, "like everybody else," Prudential is waiting to hear whether it will have a role, she said. Authority officials are expected to announce their pool participants by mid-December. About 40 underwriting firms have submitted applications.
