LOS ANGELES — The Los Angeles City Council today confirmed the appointment of financier Eric Holoman to the Board of Water and Power Commissioners. Mr. Holoman was nominated to the position by Los Angeles Mayor Antonio Villaraigosa on April 12, 2010.

“With his vast financial and corporate experience, Eric Holoman will bring a unique perspective to the Board of Water and Power Commissioners and help lead their efforts to transform the DWP,” said Mayor Villaraigosa.

“I look forward to serving on the Water and Power Commission and using my experience from the private sector to help implement business- and ratepayer-friendly reforms at the DWP,” said Mr. Holoman. “As a Commissioner, I will work to keep water and power rates as low as possible while ensuring that the DWP continues to invest in green energy and creates jobs in Los Angeles.”

Mr. Holoman is President of Magic Johnson Enterprises, where he oversees operations including strategy, finance and business development for the organization.  Magic Johnson Enterprises produces entertainment, products and services for diverse urban communities in Los Angeles and has ongoing business partnerships with such prestige companies as Magic Johnson movie theaters, Starbucks coffee houses and T.G.I. Friday’s restaurants.

Prior to joining the company, Mr. Holoman served as President of Holoman Food Services, Inc., overseeing the operation of multiunit fast food franchises in inner-city Los Angeles. He later worked for Bank of America, first as a Senior Investment Specialist and later as Vice President of High Net Worth Sales for the Private Bank. Thereafter Mr. Holoman served as Senior Vice President and Regional Sales Manager of Wells Fargo Bank’s Private Client Services Division and concluded his career at Wells Fargo as head of the private mortgage bank in Los Angeles.

Mr. Holoman served as president of the Los Angeles City Employees’ Retirement System from July 2005 – October 2009.

He recently served on the Federal Reserve Bank of San Francisco Los Angeles Branch board of directors.  He is a National Association of Securities Dealers-registered General Securities Principal, Municipal Principal, and Options Principal.  He also is a Registered Investment Advisor.

Mr. Holoman holds a degree in Finance from the University of Southern California.

Mr. Holoman’s first board meeting will be June 1, 2010.

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