AUGUSTA (AP) – Gov. John Baldacci has nominated Elizabeth Bordowitz of Portland as chief executive officer of the Finance Authority of Maine.

Bordowitz has served as the agency’s acting CEO since October 2007, and Baldacci said her leadership and skills have been instrumental during the global financial crisis. Bordowitz joined FAME in 1989, starting out as assistant counsel before being named general counsel six years later.

FAME provides loan guarantees and other financing assistance for businesses. It also administers Maine’s higher education financing programs. Bordowitz’s nomination is subject to confirmation by the Senate.