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American Water Names William D. Patterson Senior Vice President of Corporate and Business Development

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  Published in Business and Finance on Thursday, February 12th 2009 at 11:28 GMT, Last Modified on 2009-02-12 11:28:56 by Market Wire
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VOORHEES, N.J.--([ BUSINESS WIRE ])--American Water Works Company, Inc. (NYSE:AWK), the largest investor-owned U.S. water and wastewater utility company, announced today that William D. Patterson has been named the company's new senior vice president of corporate and business development.

Patterson will leverage his substantial utility knowledge and experience to drive an integrated business development strategy for American Water. He will lead the company's efforts to bring water solutions to communities in American Water's existing markets as well as pursue other opportunities including public/private partnerships, operation and maintenance contracts, military contracts and services.

"American Water is truly pleased to have someone with Bill's level of expertise join our team," said Donald Correll, president and chief executive officer of American Water. "Recent reports have clearly illustrated that water and wastewater systems are substantially challenged. With 30 years of experience, Bill will ensure that as an industry leader, American Water continues to work with communities to assist them with water sustainability and infrastructure issues."

Patterson is a financial executive with 30 years experience primarily serving the regulated utility and energy/utility infrastructure markets. He possesses a broad-based track record of success as a banker, investor, and advisor and has held senior management and independent director positions for both public and private companies.

Most recently, Patterson served as president of EnSTAR Management Corporation, a company he formed to provide financial advisory and consulting services for utilities. He continues as an independent director and audit committee chair of MYR Group, Inc.(NASDAQ: MYRG), a specialty construction contractor serving the electric infrastructure markets.

From 2005 through mid-2008, Patterson served as senior vice president and chief financial officer of Pennichuck Corporation, an investor-owned water utility holding company. Patterson's experience also includes nearly 20 years of work within the investment banking industry, serving in senior positions at E.F. Hutton, Shearson Lehman and Smith Barney, where he was managing director and co-head of the corporate finance department's regulated utilities practice.

Patterson earned his MBA in finance and accounting from the University of Chicago Graduate School of Business, graduating with high honors. He earned his BSE in Civil Engineering from Princeton University, graduating summa cum laude.

Founded in 1886, American Water is the largest investor-owned U.S. water and wastewater utility company. With headquarters in Voorhees, N.J., the company employs more than 7,000 dedicated professionals who provide drinking water, wastewater and other related services to approximately 15 million people in 32 states and Ontario, Canada. More information can be found by visiting [ www.amwater.com ].