William Mulrow begins his tenure at chairman of the New York Housing Finance Agency and the State of New York Mortgage Agency Wednesday.

The State Senate confirmed him unanimously in March. Mulrow served as a senior managing director at Blackstone (BX).

The New York HFA and SONYMA both finance low-income housing. The HFA issues bonds to fund the loans. Mulrow will run the two agencies in tandem as directed by Gov. Andrew Cuomo.

"Cuomo's transformative plan to break down silos and make New York State 'Open for Business' is embodied in his appointment of Bill Mulrow. We are very excited about Bill's appointment," said Darryl C. Towns, commissioner of New York State Homes and Community Renewal, the umbrella agency of both the HFA and SONYMA.

"His extensive public and private sector experience vividly illustrate the Governor's mission to invest state dollars most efficiently, while attracting billions in private resources to grow New York's economy and create jobs," Towns said.