Melt butter in large pot over medium high heat. Add carrots and the next 6 ingredients. Sauté until vegetables are soft, about 10 minutes. Add broth and all remaining ingredients except cilantro. Simmer soup for 15 minutes to blend flavors.

Discard bay leaf and let cool slightly.

Working in batches puree soup in blender until smooth. Return soup to pot. Season to taste with salt and pepper.

Note: Can be prepared 1 day ahead. Cool then refigerate uncovered until cold. Cover and keep refrigerated until ready to use. Bring to a simmer prior to serving.