Banco Popular de Puerto Rico

Kathleen is chairman of Goldman Sachs Investment Banking for the Midwest Region. She joined Goldman Sachs in 2001 as a managing director. Kathleen has extensive experience in municipal finance and government, having served as treasurer of the State of California, Democratic Party nominee for the governor of California, co-chair of the Presidential Commission on Capital Budgeting, and a Board member of the Los Angeles Unified School District. In addition to her public service and municipal finance background, Kathleen has spent a substantial part of her career in the private sector. First, she served as an attorney in the Capital Markets Group with the law firm of O’Melveny & Myers, then in the Investment Management Group at Bank of America, where she was president of the Private Bank. Until 2003, she managed a $2.5 billion portfolio for 75 families in the Goldman Sachs’ Private Wealth Management Group in Los Angeles. Kathleen serves on the Board of Directors of the Forestar Real Estate Group and is a member of the Council on Foreign Relations. She is a founding member of The California Women’s Foundation and has previously served on the boards of several nonprofit organizations, including the California Endowment, The Los Angeles Library Foundation and Children’s Hospital of Los Angeles. Kathleen earned a BA in History from Stanford University and a JD from Fordham University School of Law.

Sandra Kim is responsible for the overall management of the University of California's systemwide debt portfolio. She joined the University of California Office of the President in February 2008. Before joining the University, she worked in public finance as an investment banker focusing on higher education institutions and non-profit clients. She received her Masters in Public Policy from the University of Chicago and her BA from the University of California, Berkeley.

Sean Tierney was a founding partner of the San Francisco office of Hawkins Delafield & Wood LLP in 2000 and is resident in the San Francisco office. For the last twenty-two years, Mr. Tierney has devoted his legal career to municipal finance. Mr. Tierney frequently serves as bond counsel, disclosure counsel and underwriter's counsel for bond offerings issued by or on behalf of universities and other nonprofit institutions. He has worked with a variety of higher education institutions, including Stanford University, Loyola Marymount University, Santa Clara University, Southwestern University, Westmont University and John F. Kennedy University. He has also worked with a variety of other nonprofit institutions including the California Academy of Sciences, the Getty Trust, the Los Angeles County Museum of Art, the Los Angeles Natural History Museum and numerous other educational and cultural institutions. Mr. Tierney frequently works with primary and secondary private schools, including the Branson School, Francis Parker School, La Jolla Country Day School, Marin Academy, Menlo School, Polytechnic School and University High School. Mr. Tierney also frequently serves as bond counsel, disclosure counsel and underwriter's counsel on bond offerings by a variety of governmental issuers, including counties, cities, redevelopment agencies, and special districts. Mr. Tierney is a frequent speaker at bond finance conferences, including conferences sponsored by the American Association of Port Authorities, The Bond Buyer, the California Association of Museums, the California Society of Municipal Analysts, the Association for Governmental Leasing and Finance and the California Debt and Investment Advisory Commission. Mr. Tierney is the past President of the Bay Area Municipal Forum, recently served on the Board of Trustees, and the Finance and Audit Committees, of the San Francisco Asian Art Museum and served as a member of the Citizens Advisory Committee of the Marin Municipal Water District. Mr. Tierney received a B.A. degree from Columbia University and a law degree from U.C.L.A. School of Law. Mr. Tierney is a member of the National Association of Bond Lawyers. He is admitted to practice in the States of California, Hawaii, New York, and Washington.

Mark Curran has worked in the public finance field since 1978 in both investment banking and financial advisory. He is a Managing Director and Co-Head of the Piper Jaffray public finance team in California.& He works in San Francisco and has been with Piper Jaffray for 15 years. Mr. Curran specializes in City, Redevelopment and Special District finance as well as Project Finance and has structured several hundred municipal offerings during his career in public finance. Mr. Curran also serves as the Treasurer of the California City Management Foundation and actively works with the California Redevelopment Association on financing matters. Mr. Curran graduated from the University of California at Berkeley.

Jim Cervantes joined Stone & Youngberg as an investment banker in 1986 and is a member of the firm's Board of Directors. During his tenure with Stone & Youngberg, Mr. Cervantes has successfully structured more than 240 separate municipal financings representing over $5.5 billion of bonds.Mr. Cervantes earned a Bachelor’s degree from Harvard College. Following his undergraduate work, he completed a Coro Foundation fellowship and spent four years developing and managing affordable housing for a non-profit housing development corporation in San Francisco's Mission District. In 1986, Mr. Cervantes earned an MBA from the Stanford Graduate School of Business. Mr. Cervantes served for six years as a board member and Treasurer for the Tenderloin Neighborhood Development Corporation. Currently he is a board member of the Coro Center for Civic Leadership - Northern California and chair of the California Public Securities Association, the organization representing California's municipal bond broker-dealers. He is also active with the Boy Scouts. Mr. Cervantes received the 2007 Jerry I. Porras Latino Leadership Award from the Stanford Business School Hispanic Business Students Association in recognition for his contribution to the business and Latino communities.

Jason Kissane is a managing director at National Public Finance Guarantee Corporation (“National”) and head of National’s Western Region based in San Francisco. Jason is responsible for new business generation and general marketing activities for all public finance sectors in the Western Region of the U.S. Jason has over 18 years of experience in public financial starting his career at MBIA Insurance Corp. in 1993 and moving to National in 2009. Jason serves as a voting member on National’s underwriting committee. Jason is currently the Chairperson of the California Society of Municipal Analysts, where he regularly organizes educational events for its members. He is also a Board member of the National Federation of Municipal Analyst. He holds a bachelor’s degree in political science from Manhattanville College in Purchase, NY.

Steven Zimmermann is the Managing Director of Standard & Poor's Western Regional Office in San Francisco, and has over 25 years experience in finance, including senior positions at Standard & Poor�s and a major investment-banking firm. The Standard & Poor�s Western Regional Office is responsible for ratings in 13 western states. In addition, the office provides rating services to issuers in Asia/ Pacific and Latin America. Steve has supervised the rating of the State of California, its University System and related agencies for over 15 years. He is a former member of the California Debt and Investment Advisory Commission�s Technical Advisory Committee; the former chair of the California Society of Municipal Analysts, and a former board member of the National Federation of Municipal Analysts. Steve holds an MBA, and BA from Columbia University; and an MCP from Harvard University.

Stephen Galiani is managing director and senior portfolio manager for the Wells Capital Management Fixed Income team, where he is involved in municipal strategy, portfolio management, credit research and trade execution. Stephen co-manages the California and Colorado tax-exempt funds, and also manages a number of private accounts. Prior to joining the firm in 1997, he served as director of fixed income and senior portfolio manager for Qualivest Capital Management in Portland, Oregon. Stephen began his investment industry career in 1975. His investment experience includes: Galiani Asset Management, president & portfolio manager; Keystone Custodian Funds, manager of the municipal bond group, senior municipal portfolio manager; and Eaton Vance, portfolio manager. Stephen holds a bachelor of arts in English language and literature from Manhattan College (New York), a master’s of business administration with an emphasis in finance from Boston University, and a master’s in the humanities from the Dominican University of California. He is a member of the Municipal Bond Club of San Francisco, and a published poet.

Tim Schaefer is the founder of Magis Advisors, a public finance consulting firm in Orange County, California. He has more than forty years of experience in the municipal securities industry.Prior to entering the financial advisory field, Tim managed the national municipal trading desk at Chemical Bank in New York City. He also managed the Public Finance Division of Bank of America in San Francisco.He served more than twenty years on the Technical Assistance Committee to the California Debt and Investment Advisory Commission (including three terms as its chairman) and three years as a private sector advisor to the Standing Committee on Governmental Debt of the Government Finance Officers Association.He is a co-author of the California Public Funds Investment Primer, published by CDIAC in 2006 and has authored a number of articles on the field of municipal finance. Tim is a member of the California Society of Municipal Analysts, the Risk Management Association, the Government Finance Officers Association, and the International City Management Association. He is a registered investment advisor representative.

Ms. Pelej is Vice President and Group Manager of the Federal Compliance Group at Willdan Financial Services. She and her team have provided annual disclosure report preparation, dissemination, and investor support services to bonded debt issuers for over 15 years. Her expertise in the field of post-issuance compliance combined with her background in education has helped numerous municipal debt issuers supply comprehensive and timely information to secondary market investors and regulatory agencies.Ms. Pelej is frequently asked to present on the topics of continuing disclosure and arbitrage rebate compliance reporting and has supplied educational programs for the:League of California Cities (LCC)California Debt Investment Advisory Commission (CDIAC)California Society of Municipal Finance Officers (CSMFO)Alaska Government Finance Officers Association (AGFOA)Florida Government Finance Officers Association (FGFOA)Washington Government Finance Officers Association (WGFOA)California Association of School Business Officials (CASBO)California Municipal Treasurer’s Association (CMTA)Ms. Pelej came to Willdan Financial Services in 1994, after 10 years in the Credit Insurance Industry, where she served in both the Actuarial and Policy Owner Services Departments.Ms. Pelej holds a Bachelor of Science degree from San Francisco State University and a California State Teaching Credential.