Jay McCarthy serves as the chief financial officer for the Mississippi Development Authority. In this role, McCarthy oversees the agency’s Financial Resources and Accounting and Finance divisions.
McCarthy has nearly 30 years of experience in finance, banking and economic development. His familiarity with the agency’s broad range of grants, loans and incentives assists the agency in attracting and retaining businesses.
A former MDA employee, McCarthy returned to the agency in 2014 after serving for five years as vice president of public finance for Stephens Inc., a privately held, independent financial services firm. In that role, he worked closely with bond attorneys, financial advisors and state and local government officials, serving as a banker on municipal financing transactions throughout Mississippi.
Prior to joining Stephens Inc., McCarthy served in various roles during his 23 years at MDA, most recently as director of the Financial Resources Division. He also worked in research, project management, and finance capacities for the agency.
McCarthy holds a bachelor’s degree in banking and finance from the University of Mississippi and is a graduate of the Economic Development Institute. He is a member of the Mississippi Economic Development Council.