Thomas Zemetis

BY SourceMedia | MUNICIPAL | 09/30/25 09:01 AM EDT By Danielle Fugazy

Title: Director, U.S. States and Transportation
Firm: S&P Global Ratings
Age: 36

Tom Zemetis is a true mentor. At S&P Global Ratings he has developed a reputation for leading and mentoring junior analysts far and wide. His interest in developing and mentoring others extends to his role as a mentor in the Urban Leadership Fellows Program as well.

"Colleagues frequently commend Tom for his willingness to share his time and knowledge; he is authentic and fosters positive interactions that lead to successful results," said Sussan Corson, an S&P senior director and analytical manager for states and transportation.

As director of S&P Americas' Public Finance Group, Zemetis covers a portfolio of large and high-profile credits. including serving as primary analyst for New York City and the states of Alaska, Florida, New Hampshire and Texas.

"Like many people in the muni sphere, it found me rather than me finding it," said Zemetis. "I like it because I am constantly learning and I maintain a connection to public service where I began my career."

Nora Wittsruck, chief analytical officer at S&P, has played a pivotal role in his career. "We started in the same office and throughout our nine years of working together she's been a fantastic mentor. She's taught me how to manage complex situations and be comfortable with being uncomfortable," he said.

Zemetis is gratified by his work, to see the tangible outcomes built by bonds, "like the renovation of a state capitol or a new public transit project. It seems abstract at the beginning and then it's amazing when you see it come full circle," he said.

"It's a hard time right now for those coming into finance to find mentors who take the time. But taking the time to inspire, mentor and grow someone's knowledge is a benefit to the industry. I want to be someone the next generation can look to help them find their path," said Zemetis.

In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.

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