Banco Popular de Puerto Rico

Mr. Bengali has 27 years of public finance experience, the last 15 of which have been spent overseeing Stone & Youngberg’s Transportation Group (and now Stifel Nicolaus’ national Transportation Group). Mr. Bengali serves as the firm’s lead banker for the transportation programs of the Bay Area Toll Authority, the Santa Clara Valley Transportation Authority, the Orange County Transportation Authority and the San Diego Area Governments Transportation program.In addition, Mr. Bengali has worked on the transportation/transit funding programs of the Arizona Transportation Board. These assignments include the $9 billion toll bridge system debt program for BATA, the $1.5 billion sales tax Measure A program for VTA, the $700 million sales tax proposition A program for SANDAG, and the multi-billion dollar HOT lanes funding program for MTC. Mr. Bengali also led Stone & Youngberg’s team in serving as a co-manager for OCTA’s Measure M2 financing program. Prior to joining Stone & Youngberg, Mr. Bengali worked in project finance and engineering consulting, including a tenure at the World Bank. At the World Bank, Mr. Bengali structured the highway toll system lending programs for Singapore and Santiago, Chile. Prior to his work in public finance, Mr. Bengali’s engineering consulting career included design and implementation of large public works projects. Mr. Bengali earned a Bachelor of Arts degree in economics from Swarthmore College, a Master’s Degree in civil engineering from the Massachusetts Institute of Technology and a Master’s degree in business administration from the Wharton School of the University of Pennsylvania. In addition to non-recourse revenue bonds in the transportation sector, Mr. Bengali has structured numerous transactions for municipal clients where other non-recourse revenue has been pledged to achieve the financing goal. For example in structuring real-estate transactions commonly used in California that rely on a defined parcel tax; for golf course projects that rely on system revenues and power systems that rely on energy generation.

Karol K. Denniston has provided bankruptcy analysis and counsel to clients for more than 20 years. Currently, her practice is focused on municipal restructurings, including working with municipalities and creditors in connection with the pre-bankruptcy neutral evaluation process and in planning for efficient and cost-effective Chapter 9 bankruptcy filings. Ms. Denniston played a key role in the drafting and passage of Assembly Bill 506 (AB 506) that requires municipalities in California to participate in a neutral evaluation process before filing for bankruptcy. In addition, Ms. Denniston provides bankruptcy advice and counsel in connection with structured finance transactions designed to manage credit and collection risk by utilizing appropriate debt and equity structures. She frequently represents parties in Chapter 11 proceedings, most recently representing the Official Creditors Committee in the Round Table Chapter 11. She frequently advises lenders and borrowers in distressed commercial real estate restructuring transactions and often advises private equity clients on bankruptcy risk and restructuring. She is an experienced mediator and arbitrator, and has utilized all forms of alternative dispute resolution on behalf of clients to resolve matters arising in distressed multinational and domestic transactions.

Eric L. Sandler is Director of Finance for East Bay Municipal Utility District. He has over 25 years of experience in municipal and infrastructure financing. Prior to joining the District, he was Director of Finance/Treasurer at the San Diego County Water Authority. He also served as Director of Financial Planning and Acting Director of Finance for the San Francisco Public Utilities Commission. Previously, he was employed by Lehman Brothers in the municipal investment banking group in San Francisco. He has a Bachelor�s degree in Biology from Stanford University and a Master�s degree in Business Administration from the University of California, Berkeley.

Kevin Klowden is director of the California Center at the Milken Institute and a managing economist in the research group. His primary focus is on demographic and spatial factors such as the distribution of resources, business and labor in a region, the effects of public policy on these factors, and the subsequent impact on regional economies, particularly California. Klowden was the lead author of "Film Flight: Lost Production and Its Economic Impact in California" and its recent follow-up, “Fighting Production Flight”, "California’s Position in Technology and Science,” and “Charting a Course for Arizona’s Technology-Based Economy.” He has written about the role of transportation and freight infrastructure on job growth in "California's Highway Infrastructure: Traffic's Looming Cost," "Jobs for America," and the Wall Street Journal, among other publications. In addition to writing on the role of technology-based development in publications such as "North America's High-Tech Economy," he has written on and spoken about state fiscal issues including the effect of long-term obligations and international factors on municipal finances.He holds graduate degrees from the University of Chicago and London School of Economics.

Henry McLaughlin was appointed Management Analyst III to supervise the Administrative Section of the Water Division in 1994. This section includes accounting, finance, budget (operations and maintenance, capital and debt service), rate setting, personnel, safety, risk management, customer service, purchasing, the Conservation program and special projects. Prior to transferring to the Water Division, he was a Senior Budget Analyst in the Budget and Management Services Division (BMSD), a Management Analyst in the Transit Department and a Fleet Administrative Supervisor in the Fleet Management Division. Henry started his career with the City of Fresno as a volunteer in BMSD in 1984 before accepting a temporary position and then moving over to Fleet Management. He has been a permanent employee with the City of Fresno since 1986. Henry graduated from California State University Fresno in 1980 with a BS degree in Business Administration.

Tom McLoughlin manages the fixed income research team at UBS Financial Services, where he focuses on both the taxable and tax exempt markets on behalf of wealth management clients. In his current role, Tom focuses on economic policy, corporate credit, preferred securities and tax exempt bonds.Tom has spent 30 years in the credit markets and served as CEO of National Public Finance Guarantee Corp before joining UBS. Prior to his tenure at National, he held a number of positions at MBIA Insurance Corp., including head of Global Public Finance. His career also included service with Legg Mason, the GFOA, and Moody's Investors Service. He holds a bachelor’s degree from SUNY Albany and a master’s degree from George Washington University.

Marc Joffe is a policy analyst at the Cato Institute and outgoing chairperson of the XBRL US Standard Government Reporting working group.

Scott Richbourg manages the Public Finance Department. Prior to joining BAM, he was Executive Director and Manager of the Southern Group for Public Finance at Morgan Stanley with responsibility for all municipal underwriting activity in the region. Before that, he was Managing Director of the U.S. Municipal Finance Department at FSA, which he joined in 2001. In the position, he was the head of strategic planning, business development and underwriting across all financial guaranty sectors of the municipal market, including both primary and secondary issues. Earlier, he was Vice President and Co-Head of the Infrastructure Group at Goldman Sachs and an investment banker at PaineWebber. He holds a B.A. in Economics from James Madison University.

James H. Pope, General Manager, was appointed General Manager of the Northern California Power Agency in January 2004. Prior to his appointment at NCPA, Mr. Pope served as the Director of the Electric Utility for the City of Santa Clara. Mr. Pope has experience in the electric and gas industry with a background in general management, operations, engineering and construction for PG&E serving as Vice President, Technical and Construction Services; Vice President for Sacramento Valley Region; and Manager, Gas Transmission and Distribution Construction. Mr. Pope has been in various public power leadership roles, including positions as Chairman and Vice Chairman of the Transmission Agency of Northern California (TANC) where he initiated the process that led to the construction of Path 15. Mr. Pope now serves on the Board of Governors of the California Municipal Utilities Association (CMUA), and the Board of Directors of the California Foundation on the Environment and the Economy (CFEE). He also served as a member of the Board of Governors of the California Independent System Operator (ISO). In March 2002, he was appointed by U.S. Department of Energy Secretary Spencer Abraham to serve on the Secretary’s Electricity Advisory Board. Mr. Pope has a Bachelor of Science degree from Oregon State University and a Masters of Science degree in Civil Engineering from Stanford University. He attended the Harvard University Business School (Program for Management Development) Executive Program.

Linda leads M&T�s Education Investment Banking Group dedicated to education: both private and public higher education , student housing corporations, independent schools & charter schools.� Her background includes having been a Director at Standard & Poor�s in the Education/Non-Profit Ratings Group, as well as Managing Director of Higher Education for National City Capital Markets.� She has been an investment banker for 30 years, preceded by a short career as an Urban Planner. �She is currently a trustee of Messiah College, Saint Francis University and Board Secretary for the Catholic Charities Free Health Center.