Banco Popular de Puerto Rico

Teresa Clune has specialized in providing post-issuance compliance services for over 20 years.� Her career began as a senior analyst in Arthur Andersen LLP’s Arbitrage Services Group.� Ms. Clune manages sophisticated arbitrage compliance engagements and regularly consults with clients regarding post-issuance compliance management.� In 2013, Ms. Clune led development of Avant Strategic Partners LP’s disclosure compliance review services and its client portal, BondIQ. �She has presented compliance training to audiences across the country.� �Ms. Clune graduated from the University of Kansas School of Business and currently serves on the board of Innovative Learning Systems, a non-profit focused on improving literacy and learning proficiency.

Stephanie Scola is Delaware’s Director of Bond Finance reporting to the State’s Secretary of Finance.� Stephanie is responsible for statewide debt issuance activities, investor relations and, of course, ongoing investor disclosure.� In her position, Stephanie maintains a network of resource partners, external as well as internal, that contribute information for the state’s primary and secondary market disclosure.� The content of Delaware’s investor website, designed by Ms. Scola and now linked to EMMA, was honored as a “top pick” among states by MuniNetGuide.com, an independent online resource specializing in municipal matters.����Prior to joining the State, Stephanie was the capital markets manager for Conectiv’s Treasury Department where she managed a $2 billion debt portfolio and reported many types of securities offerings on EDGAR, the private sector version of EMMA.� Stephanie is from New Jersey, graduated from The Richard Stockton State College and Monmouth University and served as an Adjunct Professor in the Business Department of Atlantic Cape Community College.

Peter Bianchini is Executive Director for Preston Hollow Capital (PHC), based in San Francisco.� With over 25 years of industry experience, Peter leads credit research and investment support for PHC’s Capital Markets Group.� Prior to joining PHC, Peter was a Managing Director and Senior Municipal Strategist for Mesirow Financial’s Institutional Sales and Trading group.� That role was preceded by positions as Head of West Coast Origination for XL Capital Assurance, and Vice President at Charles Schwab, where he was responsible for the research and analytical support of ten municipal funds totaling approximately $21 billion under management.�Peter began his public finance career at Standard & Poor’s in New York City and San Francisco, where he worked on a broad range of credit including transportation, infrastructure, not-for-profit and general government.� He is heavily involved with several industry organizations, including the National Federation of Municipal Analysts, which he chaired in 2002, and the Society of Municipal Analysts.Notable among his many professional achievements are the National Federation of Municipal Analysts Meritorious Service Award (May 2005), and multiple-year recognition by Smith’s Research & Ratings Review as a First Team and Second Team All-Star. Peter earned Bachelor of Science and Masters of Business Administration degrees from New York University.

Melissa Matthews is a Vice President and Trust Review Analyst� in the Morristown, New Jersey office of U.S. Bank’s Global Corporate Trust Services division. Ms. Matthews �joined U.S Bank in 2006 and �has over 25 years experience in corporate trust administration specializing in both corporate and tax-exempt bond issues.�

John is a Vice President – Senior Analyst in Moody’s Global Project and Infrastructure Finance Team covering a diverse portfolio of project financings, public-private partnerships (P3s), and municipal infrastructure issuers in the energy, transportation, and social infrastructure sectors. John leads Moody’s global P3 task force; authors research across sectors including stadiums, P3s, toll roads, and power; and annually leads several new rating assignments for P3 bids in the US and Canada.Before joining the Infrastructure and Project Finance Team in 2010, John spent two and a half years as a lead analyst for local governments and enterprises in the Eastern Regional Ratings Team where he was the lead for municipal issuers in Pennsylvania and New York while also covering New Jersey, Virginia, and Florida.Prior to joining Moody’s, John worked as a risk management analyst, a property and casualty insurance account manager, and a health care claims auditor. John is a former co-chair of Moody’s Multicultural Employee Resource Group and remains on the steering committee of Moody’s LGBTA Employee Resource Group.John earned his Bachelor of Arts degree in Health Care Economics and Policy from Stanford University and his Masters of Public Administration in Health Care Public Finance from New York University’s Robert F. Wagner Graduate School of Public Service.

Philip is a research analyst for the Municipal Fixed Income team, responsible for the credit analysis of Availability Payment P3s, land secured deals in Texas and Southern California, and student housing projects. Previously he covered tax-backed securities throughout the Midwest and Western regions.He began working in the financial industry in 2002 and joined Nuveen Asset Management in 2010. Prior to becoming a member of the firm’s research team in 2012, he was a manager of financial planning and reporting, responsible for overseeing reporting needs and market data contracts for multiple business groups. He also served as a member on the firm’s Integration Steering Committee. Previously, Philip was a senior analyst supporting the commercial finance businesses of Merrill Lynch Capital and RBS Asset Finance.Philip earned a B.S. in finance from the University of Illinois at Urbana-Champaign. He also holds the Chartered Financial Analyst designation and is a member of the CFA Institute and the CFA Society of Chicago.�

Ian is a Director with KPMG’s Infrastructure Advisory practice in the United States and leads the Rail Sector team.� He provides financial, commercial, and strategic advice to public and private sector clients for the financing and delivery of infrastructure assets. He specializes in feasibility analysis, valuations, and transaction structuring and execution in the rail and road sectors.Detail on recent rail clients is provided below.California High-Speed Rail:Ian currently manages the KPMG team that is team assisting the California High‑Speed Rail Authority to deliver the first high‑speed rail project in the United States. In this role, he manages a team of over 50 financial professionals.� KPMG has been providing financial, commercial, and strategic advisory services to the Authority since 2011. Ian has advised the Authority on three procurements, including a $1 billion infrastructure procurement, a second $1.5 billion infrastructure procurement, and an ongoing $1 billion rolling stock procurement. Ian is also responsible for managing a team that performs feasibility and valuation analysis, funding and financing strategy assistance, and delivery options analysis for the Authority on project segments and elements (e.g., power, track, systems, operations, stations).Northwest Indiana Regional Development AuthorityIan is currently the project manager for KPMG’s team that is team assisting the Northwest Indiana Regional Development Authority (RDA) on their commuter rail and transit oriented development project.� The project consists of a new commuter rail extension, double tracking of an existing commuter rail line, upgrade of four existing stations, and new build of four new stations.KPMG will lead the market sounding process to gauge investor interest and develop a strategy for leveraging innovative financing and investment into the project.��Other Relevant experienceIndiana Finance Authority – advised on the structuring and closing of a P3 project valued at over $300 million.� Continue to provide financial and commercial advice on the State of Indiana’s P3 projects.�Indiana Department of Transportation – advising the Innovative Delivery Program across numerous initiatives to procure and implement projects through innovative delivery mechanisms to enhance value to the departmentNevada Department of Transportation – served as the Project Director for an engagement to provide financial and commercial advice to NDOT in the structuring of an availability payment P3 project in Las Vegas, Nevada.California Department of Transportation – provided financial and commercial advice on a transaction valued at over $300 million using a P3 contract model with an availability payment mechanism.State of Michigan – provided financial and commercial advice on setting up the state’s public-private partnership program and analyzing numerous projects for innovative delivery cross a variety of sectors�