Banco Popular de Puerto Rico

Rebecca Olsen is Deputy Director in the Office of Municipal Securities at the U.S. Securities and Exchange Commission.� The Office of Municipal Securities is responsible for administering SEC rules on practices of broker-dealers, municipal advisors, investors, and issuers in the municipal securities area and coordinating with the Municipal Securities Rulemaking Board (MSRB) on rulemaking and enforcement actions.� The Office of Municipal Securities advises the Commission and other SEC offices on policy matters, enforcement, and other issues affecting the municipal securities market and oversees MSRB rulemaking and the SEC’s municipal advisor registration program.� Prior to joining the SEC, Ms. Olsen worked as public finance attorney at the law firm of Ballard Spahr LLP for over a decade where she served as underwriter’s counsel, bond counsel, lender’s counsel and borrower’s counsel on a wide variety of public debt offerings and private placements.� Ms. Olsen has a B.A. in Political Science from Boston College, a J.D. from the Georgetown University Law Center and an LL.M. in International Business Law from the Vrije Universiteit Amsterdam, The Netherlands.

Paul Renken is the Director of Advisor Tools and Portfolio Analytics at Tradeweb direct and functions in a business development capacity. Prior to this role, Mr. Renken served as an Executive Vice President at E*TRADE Capital Management and Vice President for E*TRADE Securities. Mr. Renken was responsible for Fixed Income Trading, Sales and Product as well as heading the Sales Liaison, Syndicate and Capital Markets Desks. Prior to this Mr. Renken worked at Bank of Montreal, Credit Suisse, Donaldson Lufkin & Jenrette and Dain Bosworth in various capital market capabilities. Mr. Renken earned a bachelor�s degree in Business Administration from The University of St. Thomas. He holds the Series 7, 24, 53, 63, 66 and 99 licenses.

Sara Hailstone was named Director of Community and Economic Development for the City of Allentown, Pennsylvania, in March 2010. A senior member of the Mayor�s cabinet, Hailstone is responsible for a broad range of planning and organizational activities as well as directing the City�s Bureaus of Health, Building Standards and Safety, Planning and Zoning and Economic Development and their programs. She also coordinates economic development with other City departments, citizen groups, governmental and other public agencies, and private enterprise and oversees the City Community Development Block Grant Program.In April 2012, Hailstone was elected interim Executive Director of the Allentown Neighborhood Improvement Zone Development Authority, the nine-member City organization that oversees construction of the Allentown arena and evaluates applications from members of the private sector pursuing financing for development within the zone.Prior to her current position, Hailstone served as Regional Director for the Pennsylvania Department of Community and Economic Development (DCED) since 2007. In that role, she acted as DCED liaison to economic and community development projects in 15 counties in Northeast Pennsylvania and worked to improve neighborhoods with community-changing high-impact multifaceted development projects.From 2002 to 2007, Hailstone was Executive Director of the Office of Economic and Community Development in Scranton, Pennsylvania, where she directed the distribution and administration of $20 million in Community Development Block Grants as well as $5 million in small business loans that created more than 400 new jobs. During that time, she also oversaw the financing of the City�s new parking garage and marketed Scranton to new businesses and businesses wishing to relocate.Prior to that, Hailstone was Project Director for Scranton Tomorrow and First Night� Scranton from 1999 to 2002. She has also served as chairperson or co-chair of several additional major community celebrations and fundraisers in and around Scranton. Hailstone began her career as an Admissions Counselor for Marywood University in Scranton from 1996 to 1999.Active in the community, her current board memberships include the Allentown Economic Development Corporation, the Allentown Housing Authority and Allentown Parking Authority. �She previously served on the boards of Penns Northeast, Scranton Community Concerts, United Cerebral Palsy, United Way of Lackawanna County and Nay Aug Conservancy.Hailstone earned both a master�s degree in public administration with a concentration in nonprofit organizations and also a bachelor�s degree from Marywood University. She resides in Allentown.

Scott Shearer joined Public Financial Management, Inc. in its Pennsylvania Municipal Group in 1998 and in 2010 was promoted to Managing Director. In his tenure at PFM, Mr. Shearer has worked on over 750 transactions for local governments and other authorities in Pennsylvania. He is highly renowned in the municipal finance market as an expert in handling complicated transactions often involving complex and intertwined financing techniques.As a partner of PFM in the Pennsylvania Municipal Group, Mr. Shearer serves approximately 250 clients comprised of municipal authorities, school districts, cities, counties and townships. Mr. Shearer is a member of the firm�s national utility cluster as well. His expertise includes the structuring of both tax-exempt and taxable fixed rate bond issues, variable rate bond pool financings, bank loans and interest rate swap derivatives. In this capacity, he assists local governments in the areas of capital planning, financial analysis, refinancing opportunities, debt structuring analysis and budget forecasting.One of Scott�s particular areas of expertise lies in the complicated field of variable rate financings and interest rate swaps. Following the financial downturn in late 2008, Mr. Shearer was instrumental in assisting and advising many local governments throughout the Commonwealth on the most cost efficient way to manage their increasing debt burden, developing innovative and effective solutions.In addition to utility and general credits in the Commonwealth, Mr. Shearer has also led project teams for very significant economic development financing including the Allentown Neighborhood Improvement Zone Development Authority and many other TIFs. Most recently, Mr. Shearer is also very active in the public private partnership sector, with a focus on utilities, leading the first of its kind procurement process for the concession lease successfully completed in Allentown in August 2013.He is a graduate of the Pennsylvania State University with a degree in Actuarial Science.

Stockton Williams is Managing Principal of the Washington, DC office of HR&A Advisors. He advises local communities, business leaders, and social investment innovators on the strategic opportunities at the intersection of economic development, community revitalization, and environmental sustainability. Stockton leads HR&A�s participation in the SC2 Network, a new national initiative assisting cities across the U.S. in achieving locally identified priorities for economic growth and job creation. Previously, Stockton served as a Senior Advisor at the U.S. Department of Energy and the U.S. Department of Housing and Urban Development. He has also held senior management positions at Living Cities and Enterprise Community Partners.

Michael is a senior director in Fitch Rating�s public finance group, manager for local government ratings in Fitch�s East region, and a chairperson of Fitch�s public finance rating committee. Michael is based in Fitch�s New York City, New York office.Prior to joining Fitch in 2008, Michael served as a vice president at Financial Guaranty Insurance Company�s (FGIC). Michael was responsible for providing credit analysis of municipal issuers requesting bond insurance across a broad spectrum of municipal sectors including transportation, infrastructure, general government, higher education, and project finance. Michael began his career in municipal finance at Standard & Poor�s rating agency in 1996.Michael received his B.B.A from Baruch College, City University of New York and is a member of the National Federation of Municipal Analysts/Municipal Analysts Group of New York.

Neene Jenkins is a Vice President- Municipal Credit Research Analyst has extensive experience with distressed credits including Jefferson County, Detroit, and Illinois. In addition, she covers high grade and high yield debt with a focus on Higher Education, Charter School, State and Local credits. She previously spent almost five years on Moody�s Investors Service Public Finance Team. Neene holds a BA in applied mathematics from the University of Buffalo and an MPA in public finance from the Robert F. Wagner School of Public Service at New York University, where she occasionally adjuncts.

Todd Fraizer is a Managing Director in Public Financial Management�s (�PFM�) Charlotte, NC, office. �Mr. Fraizer leads PFM�s Pricing Group, which provides pricing resources and negotiation support for PFM�s clients nationwide. The Pricing Group is continually enhancing, expanding and centralizing the firm�s bond pricing expertise. �Mr. Fraizer has assisted in pricing thousands of transactions totaling more than $250B of municipal bonds for PFM issuer clients.Prior to joining PFM, he was the Vice President of Finance for the Kansas Development Finance Authority. In this role, he served as the primary project manager for over $2 billion of general purpose, higher education, pension obligation, transportation, and SRF transactions. Before that, Mr. Fraizer gained futures� and options� trading experience while at the Kansas City Board of Trade.Mr. Fraizer has a Bachelor of Arts in English Literature from the University of Kansas and a Masters of Business Administration and Finance from the University of Missouri-Kansas City. He is a CFA charter holder, as well as a member of the CFA Institute and the Charlotte Society of Financial Analysts.

Daniel J. Alfonso is the City Manager at the City of Miami.� He is implementing various initiatives aimed at improving the City�s finances, employee morale, productivity, and customer service. Previously, he served as Director of Management and Budget for the City and held multiple administrative positions with Miami Dade County.He holds degrees in Finance and Business Administration from Florida International University and an Associate Degree in Accounting from Miami Dade College.Mr. Alfonso also served honorably in the United States Army from 1986 to 1991. He lives in Miami with his wife of 27 years, son and daughter.

Joe Casey has been the Deputy County Manager for Henrico County, Virginia since January 2013. Henrico County, a Triple AAA bond rated county is over 230 square miles with over 10,000 employees and a total budget over $1.0 billion. Previously, he served as Deputy County Administrator and Director of Finance for Hanover County, Virginia; which had the distinction of being the smallest populated Triple AAA bond rated county in the country. He previously worked with KPMG and still retains his CPA license. Since 1998, he has also served as an adjunct professor for Virginia Commonwealth University�s (VCU) and Virginia Tech�s graduate public administration program. He received his undergraduate degree from the University of Richmond in 1986, a graduate degree in public administration from VCU in 1995 and PhD in public policy from VCU in 2013. He currently serves on Virginia Local Government Managers Association (VLGMA) Executive Board, Virginia Association of Counties (VACO) Compensation and Retirement Committee, Vice Chair of Housing Opportunities Made Equal Board; and previously served on the national Government Finance Officers Association (GFOA) Executive Board and as Past-President of the Virginia GFOA. Contact info: cas052@co.henrico.va.us.