Banco Popular de Puerto Rico

Beth Ann Bovino is the U.S. Chief Economist for S&P Global Ratings based in New�York. In this senior role, she oversees the development of S&P Global Ratings’�U.S. economic forecasts including its weekly, monthly, and quarterly research�reports.�Beth Ann and her team are a source of data and insights that help inform and guide�S&P Global credit ratings analysts’ research. She has authored and contributed�many articles for popular and professional publications. Her body of work covers a�wide range of topics and trends that impact the U.S. economy including jobs and�wage growth, infrastructure, income inequality, demographics, and the growing�influence of the Millennial generation.�A seasoned economics and market commentator, Beth Ann has appeared on many�major television programs including CNBC, Bloomberg and others. Her work has�also been widely quoted in the national press including outlets such as The New�York Times, The Wall Street Journal and Financial Times.The Wall Street Journal recognized Beth Ann as the most accurate forecaster of�the U.S. economy in 2013.Before joining S&P Global in February 2004, Beth Ann spent more than a decade�in economics and market research with Sungard Institutional Brokerage, UBS�Warburg, and the Federal Reserve.�Beth Ann holds a Bachelor’s degree in Economics from the Wharton School at the�University of Pennsylvania, a Master’s degree in International and Development�Economics from Yale University, and a Ph.D. in Economics from Columbia�University.

Leo Karwejna joined PFM to head the Compliance team in 2011 as Chief Compliance Officer and Managing Director. He has over 14 years of experience providing compliance support to firms in the investment advisory and securities-trading businesses including equity, fixed income, real estate (direct property and REIT securities), and additional alternative investment strategies.Responsible for all regulatory compliance program efforts related to PFM’s business activities and personnel, Leo assists PFM professionals with specific compliance advisory guidance and leads the PFM Compliance team’s efforts to develop, maintain, and monitor firm-wide compliance with appropriate policies, procedures and regulatory requirements.Mr. Karwejna’s prior experience includes compliance management positions at Prudential Financial Inc., Deutsche Asset Management and RREEF Alternative Investments. �Leo also regularly serves as an Arbitrator for securities-related issues among the investing public and/or industry participants. These issues are heard and decided upon under the FINRA regulatory organization’s dispute resolution mechanism.He earned a BS in finance from Saint Joseph’s University and a JD from Temple University School of Law.

Chuck Clarke is CEO of Cascade Water Alliance, a municipal corporation of five cities and three water and sewer districts who provide water to almost 400,000 residents and more than 22,000 businesses. Under his leadership, Cascade embarked on an extensive, inclusive public process to determine how best to deliver water supply to its members over the next 50 years and beyond. In December 2009, Cascade acquired Lake Tapps, the last major water resource in the region. He was most recently the Director of Seattle Public Utilities (SPU).SPU is responsible for managing 4 utilities: water, wastewater, solid waste and drainage. SPU provides water to 1.4 million customers with a budget of $500 million/year and a staff of 1,500. Prior to joining SPU, Chuck served as one of former Seattle Mayor Paul Schell’s deputy mayors; he is the former Regional Administrator for the Environmental Protection Agency managing its operations in Alaska, Washington, Oregon and Idaho. Chuck has served as Director for the Washington State Departments of Community Development and Ecology.In Vermont he served as Agency Director of the Vermont Agency of Natural Resources under Governor Howard Dean. He currently serves as Chair of the Water Supply Forum serving Snohomish, King and Pierce Counties, is a Board Member of the Association of Metropolitan Water Agencies and a founding member of the Water Utility Climate Alliance. Chuck is a Washington native and grew up in Bremerton.In 1971 he earned a Bachelor of Arts degree with a major in biology and in 1982 he earned Master's Degree in Business Administration both from Pacific Lutheran University in Tacoma. In 1995 Chuck received the Outstanding Alumnus Award from Pacific Lutheran University’s Division of Natural Sciences.

Hirofumi Otsuka is Co-Head of the Specialized Finance Department for the Americas at SMBC. In this capacity, he is responsible for project finance and public finance activities in both North America and Latin America. He leads over 60 professionals with teams based in New York, São Paulo, Bogotá, Lima, and Mexico City. His teams are structuring some of the largest, most complex transactions in the market and consistently placing among the top project finance banks in the relevant league tables.Mr.Otsuka joined SMBC (former Sumitomo Bank) in 1990 and has been in the US since 2003. He has gained extensive experience in structured/project finance throughout his career assuming various positions at departments covering real estate, public private partnerships, leasing, energy & natural resources and emerging markets.Prior to his current position, he was Joint General Manager of Planning Department Americas Division, Deputy General Manager for Specialized Finance Department and Executive Vice President of SMBC’s US leasing subsidiary, SMBC Leasing & Finance.He has also served as Chief Representative of the Houston representative office spearheading SMBC’s Energy & Natural Resources business from 2006 to 2007.Mr. Otsuka holds a BA in Engineering from The University of Tokyo and was seconded to Goldman Sachs Investment Banking Division from 2003-2004.

Sharlene works with insurers and water service providers to build business models that are resilient to weather extremes, climate change and resource depletion.Her focus includes the role insurers and risk modelers play in driving climate adaptation and climate investment risks and opportunities with a particular focus on municipal bonds. She also works with drinking water, stormwater and wastewater service providers to develop physical infrastructure and rate structures that enable development of sustainable water systems.Before coming to Ceres, she was a fellow in the MIT-USGS Science Impact Collaborative at the Massachusetts Institute of Technology, where she focused on the role of science in multi-stakeholder resource planning and dispute resolution. Her professional experience also includes intellectual property prosecution at the United States Patent and Trademark Office where she specialized in semiconductors and nanotechnology.She holds a BA in Physics and English from Washington University in St. Louis and a Master in City Planning from the Massachusetts Institute of Technology.

As RBC Capital Markets’ Chief U.S. Economist, Tom Porcelli tracks and analyses U.S. macro economic data to develop forecasts around the country’s growth and prosperity.� He also closely monitors and provides commentary on the U.S. fiscal outlook and the monetary policy decisions made by the Federal Reserve.�Mr. Porcelli’s views are sought globally as he travels extensively to present on the U.S. economy and U.S. markets.�Prior to joining RBC, Mr. Porcelli worked as an economist at Merrill Lynch, where he was a member of the team responsible for economic forecasting and Fed watching. �Mr. Porcelli began his career at the Federal Reserve Bank of New York, working on the Open Market Desk.� In this capacity, Mr. Porcelli was closely involved with the implementation of monetary policy.�In addition, he was responsible for disseminating pertinent economic and market analysis to policy makers in an effort to provide them with critical information used in the policy making process.He appears regularly on CNBC, CNN and Bloomberg, and is quoted widely in the global press.�Mr. Porcelli holds a Masters degree from Columbia University.

Jeff Hughes is the Director of the Environmental Finance Center (EFC) housed at the School of Government at the University of North Carolina at Chapel Hill. The EFC (www.efc.unc.edu) provides applied research, educational programs and advising services to local governments, utilities, non-profit organizations, consulting firms and state and federal agencies. Jeff has twenty-five years of environmental finance and governance experience as an educator, researcher, policy analyst, consultant, and utility practitioner. Jeff is also a faculty member with the School of Government where he teaches courses on environmental finance and policy for university students and practitioners. Jeff’s research and teaching interests include service pricing, economic regulation, and public finance. Jeff is an expert witness for the USEPA Environmental Finance Advisory Board and is an active member of the Council of Infrastructure Financing Authorities.Prior to joining the university, Jeff worked as a finance specialist for RTI International where he managed utility finance and governance projects throughout Central Europe and Africa including a yearlong position as an infrastructure finance advisor to the Polish government. Jeff also worked briefly as a utility director for a small rural community in North Carolina. He received a master’s degree in environmental engineering from the University of North Carolina at Chapel Hill and a bachelor’s degree in engineering from Duke University.