Paul Rosenstiel joined the TNDC Board in 2025 after serving on the committee overseeing the TNDC Supporting Fund for five years. He brings four decades of experience in public finance and public service, spanning state and local government, nonprofit leadership, and municipal investment banking.
Paul was a municipal finance investment banker for 30 years, spending most of that time at De La Rosa & Co., a California-based municipal investment bank, where he led the firm’s northern California operations. As a banker, he worked with California public agencies to finance infrastructure, community facilities and housing.
In public service, Paul was a Special Advisor to Governor Gavin Newsom during the PG&E bankruptcy, helping to develop wildfire liability legislation that established a $21 billion wildfire fund. He currently serves on the California Catastrophe Response Council, which oversees the fund. He previously served as Deputy Treasurer of the State of California, where one of his responsibilities was state bond issuance. He was a board member of the California State Teachers’ Retirement System (CalSTRS), the second largest public pension fund in the U.S, and a Special Advisor to the Alameda County Treasurer-Tax Collector.
In the nonprofit sector, Paul served on the board of MidPen Housing for six years, chaired the board of the California Budget and Policy Center for ten years, and has been a member of the Statewide Leadership Council of the Public Policy Institute of California since 2008.
He holds an MBA from the Stanford Graduate School of Business
