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On Thursday, Mayor Richard M. Daley named a Harlan high school graduate as the city’s new chief financial officer.

On Thursday, Mayor Richard M. Daley named a Harlan high school graduate as the city’s new chief financial officer.

Gene Saffold, 54, replaces Paul Volpe who became the mayor’s chief of staff in December. Saffold, who grew up on the South Side in the West Chesterfield neighborhood, previously worked with the mayor’s older brother, Bill, as managing director for National Accounts for JP Morgan Chase & Co. His primary duties there were to ensure the delivery of products and services to public sector and pension fund clients.

“Gene brings with him exceptional experience from the private sector and is ideally suited to help us maintain our commitment to sound management and fiscal responsibility,” Daley said at a Thursday news conference. “It’s a difficult job, but I am very pleased that Gene Saffold is coming on board to help us do it.”

And the mayor said he has set specific goals for Saffold.

“I’ve asked him to continue our efforts to take a long term view when it comes to understanding the economy and protecting our financial stability. And I’ve asked him to help us protect our taxpayers and to put the people of Chicago first,” Daley said. “And I’ve asked him to remember that asking our taxpayers for more must always be the last resort.”

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In photo: Illinois Gov. Pat Quinn talks casually with reporters at the Thompson Center before a news conference on raising taxes in Chicago, Friday, March 13, 2009. Quinn says some Illinois residents will have a "higher tax burden" when he announces his state budget plan next week to fix a deficit estimated to be $9 billion. (AP Photo/Charles Rex Arbogast)

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