Republican Brendan Miles, a finance professional and political newcomer, has announced his candidacy for a seat on the Board of Finance.

A 15-year Fairfield resident, Miles said in a news release he would seek nomination during the GOP caucus on Tuesday, July 23. Republicans will nominate two candidates for six-year terms.

In the release, Miles said the next decade is likely to bring "significant financial challenges." Securing a strong financial future, he said, "requires experience and insight to see how current fiscal decisions can affect the town's longer-term financial flexibility and strength."

Miles is a graduate of the U.S. Military Academy at West Point and holds an MBA from the Darden School at the University of Virginia.

He has 25 years experience in corporate, nonprofit and public finance, according to the release. Miles currently is a managing director of NewOak Capital LLC, a New York City-based, broker-dealer and financial advisor. He previously worked for Citibank and Octagon Credit, a privately-owned asset manager.

Miles has served as a municipal-finance advisor to regulators, insurance companies and investors, he said, and is experienced in identifying the long-term consequences of budget decisions.

"I intend to use this experience to provide residents with a clear and balanced view of Fairfield's current financial policies and their likely effects on the future," he said in the release

Miles said that while Fairfield is one of only 22 Connecticut municipalities to retain the highest credit ratings of both Moody's Investors Service Inc. and Standard & Poors, the town is not immune from continuing fiscal pressures.

"The Board of Finance must have foresight and vigilance to ensure continued financial strength," he said.`

Miles has never held public office. He has served as treasurer and board member of Fairfield Pop Warner Football and has been active in Little League and the Wakeman Boys and Girls Club.

He lives in Southport with his wife, Carolyn, and their three children.