Banco Popular de Puerto Rico

Mr. Carlson joined RBC Capital Markets in 2001. Mr. Carlson is the primary investment banker for RBC�s Direct Purchase Program. His experience includes structuring and purchasing over $2.0B of direct purchase transactions for a variety of issuer clients including utility, transportation, healthcare, power, housing, and special district sectors. Over $1.5B of this amount has been in the form of SIFMA Indexed Floating Rating Notes. Prior to his role in Municipal Products, Mr. Carlson was an investment banker in RBC�s Florida market and served on the financial advisory and underwriting teams for a variety of general governmental clients. He was part of the financial advisory team on the transaction that won the 2004 Bond Buyer Deal of the Year. Mr. Carlson was previously an officer in the United States Navy for 9 years where he was an F-14 Radar Intercept Officer (RIO) and flew 33 combat missions over Iraq during Operation Southern Watch. Mr. Carlson graduated with honors from the United States Naval Academy with a BS in Political Science. He earned his MBA from The Citadel, and his MS in Finance from the University of Florida. Mr. Carlson is a NASD General Securities Representative.

Dennis Tupper works in Deutsche Bank’s Municipal Capital Markets Group and is a member of the North America Flows Rates and Credit Trading Executive Committee. During his time at Deutsche Bank, the Municipal Capital Markets Group has grown into a municipal market leader with unmatched execution efficiency and substantial credit capacity for our clients as demonstrated through our industry-leading derivatives and structured products business. Dennis has also been the architect for Deutsche’s ongoing expansion in the Municipal market with four new products lines having been introduced over the past two years. For issuer clients, Dennis works through Deutsche Bank’s network of regional broker-dealer and advisory partners as well as direct client relationships to structure transactions including new swaps, swap novations, credit transactions and private placements. For investor clients, Dennis has structured a wide range of transactions including total return swaps, structured notes and lending or liquidity facilities. Dennis has also devoted considerable time to analyzing the impact of pending regulatory and capital changes on the municipal market and has structured products and solutions to ensure that Deutsche Bank continues to provide its clients with smart transactions. In his broader role at Deutsche Bank, Dennis is responsible for managing balance sheet and capital capacity across the North America Flow Rates and Credit Trading platform and has a leading role in restructuring business lines and transactions to fit into the new and pending regulatory regime.Dennis graduated summa cum laude from The Wharton School of the University of Pennsylvania with a B.S. in Economics.

Deputy Treasurer Katie Carroll was appointed by California State Treasurer Bill Lockyer in February 2009 and oversees the issuance of debt for the state. She also represents the Treasurer on the governing boards of several authorities and commissions, including the California Earthquake Authority, the California Housing Finance Agency, the California Infrastructure and Economic Development Bank, and the California Debt and Investment Advisory Commission.Prior to her appointment as Deputy Treasurer, Ms. Carroll was the Director of the Public Finance Division in the Treasurer’s Office. She started her career in public finance with the State Treasurer’s Office in 1986, and has since served in numerous capacities supporting the issuance and management of state debt. Ms. Carroll has also held various finance and accounting positions in the Federal Government, the State Controller’s Office and private industry. She is a graduate of California State University, Sacramento.

Brett Whysel is a managing director on the Healthcare Finance team taskedwith leading a variety of quantitative and information-intensive initiatives tohelp Ziegler’s clients achieve their mission. These endeavors include theongoing development of next generation asset-liability and risk managementtools that clients can use to maximize financial results and control riskholistically. Brett works with Ziegler’s clients to identify opportunities and setstrategy and tactics in debt management, derivative products and assetmanagement in a coordinated, prudent and rigorous fashion.Previously, Brett led the risk analytics effort at Citigroup’s public financedepartment performing asset-liability studies, research and development, planof finance consultations and information management. During his 15 yearsthere, he worked with a wide range of healthcare systems and municipalitiesand authored a series of white papers on capital markets dynamics and productdevelopments. Brett's innovations, including a reduced basis risk structure forinterest rate swaps and the first asset-liability model to apply modern portfoliotheory to debt and derivative management, have had industry-wide impact. Hebegan his public finance career in 1988 at Merrill Lynch.Brett earned his M.A. in philosophy at Columbia University and his M.S. inmanagerial economics and French at Carnegie Mellon University.

Cornell University’s Vice President for Finance and Chief Financial Officer, Joanne M. DeStefano, as custodian of Cornell’s financial records, is responsible for directing business, financial and informational services in support of academic programs. As part of this responsibility, DeStefano has custody and control of the University’s funds and has general responsibility for the maintenance of financial records of the University.Joanne’s vice presidential duties include responsibility for the divisions of Financial Affairs (DFA) and Information Technology (CIT). Units within DFA that report to her are: the University Controller, which includes general accounting, payments, tax, payroll, the university business service center, and financial research administration, (sponsored financial services, cost analysis, and capital assets); Supply Management Services, which includes Cornell business services and the procurement office; and the University Treasurer, which includes cash and debt management, the university bursar, the university policy office, and finance training. Responsibility for CIT includes administrative oversight of the Chief Information Officer, who is responsible for the oversight of information and technology strategies and their investment decisions. Joanne holds a B.S. from Syracuse University (1978, Accounting), and an MBA from Cornell University (1997, Finance). She came to Cornell in 1990 as General Accounting Manager for the contract colleges and has since held a number of progressively responsible roles in the finance division, most recently as Vice President for Financial Affairs. Prior to joining the university, Joanne worked in the corporate sector, as controller for Racemark International, Inc., and as accounting manager for Schlumberger, Inc.Joanne held national Board of Directors positions with the Kuali Foundation and the Council on Governmental Relations (COGR). She is also a member of NACUBO, locally serves as Chair of the Board of Directors for Challenge Industries, and was the Chair of the Cornell 2008 United Way Campaign.

Jeff Schaub is a managing director in Fitch Ratings' public finance department, where he heads Fitch’s nonprofit healthcare ratings group. Based in New York City, he covers the acute care, long-term care, and senior living sectors with analysts located in New York, Chicago, and San Francisco. Since joining Fitch’s healthcare group in 1993, Schaub also has had responsibility for various operational aspects of the department, includinganalytical and operational policies and systems, surveillance and compliance, pricing, electronic product support, budgeting and training. He is a member of the department’s executive and criteria committees. Prior to Fitch, Schaub managed healthcare financial feasibility studies throughout the greater New York area for Coopers & Lybrand’s New York consulting group. He also worked for the Hospital Association of New York State, where he was responsible for financial modeling and analysis, as well as the health economics group’s systems and databases. Schaub holds a B.S. in Engineering from Clarkson University and an M.B.A. in Operations Management from the University at Albany. He is a member of the National Federation of Municipal Analysts, the Healthcare Financial Management Association, and the Municipal Analysts Group of New York.

Californians on November 7, 2006 elected Bill Lockyer as the 32nd State Treasurer. The State Treasurer’s Office will play a prominent role as California meets the challenge of building the future for a growing and increasingly diverse population. As State Treasurer, Lockyer is committed to using the tools of the Office to help provide residents what they need to create a stronger California – more jobs, superior education, improved transportation, quality health care, more affordable housing and a cleaner environment.Lockyer’s priorities will be to wisely and prudently invest taxpayers’ money, to ensure the public gets the accountability and oversight it deserves on infrastructure projects funded by voter-approved bonds, and to work with the Governor and Legislature to put California back on sound fiscal footing. To achieve those goals, Lockyer will draw on leadership, management and policymaking skills developed over a public service career spanning more than three decades.From 1999-2006, Lockyer served as California Attorney General and left a lasting legacy at the Department of Justice. In his eight years, he helped revolutionize crime fighting in California by creating and maintaining the nation’s most sophisticated DNA forensic crime laboratory. He also cracked down on Medi-Cal fraud, securing hundreds of millions of dollars in court-ordered restitution and penalties, established the Megan’s Law website to locate and identify registered sex offenders, and recovered billions of dollars for defrauded energy ratepayers, consumers and taxpayers.Prior to his election as Attorney General in 1998, Lockyer served for 25 years in the California Legislature, culminating his Capitol career with a stint as Senate President pro Tempore. In that leadership position, Lockyer crafted agreements to balance the state budget and reform government programs to make them run more efficiently and effectively for taxpayers.A graduate of the University of California, Berkeley, Lockyer earned his law degree from McGeorge School of Law in Sacramento while serving in the State Senate. He also received a teaching credential from California State University, Hayward.

Stanton C. Hazelroth is the first Executive Director of the California Infrastructure and Economic Development Bank (I-Bank), the Governor’s sole general purpose financing authority. In this capacity, Mr. Hazelroth manages and directs the Infrastructure Bank's day-to-day operations and affairs. He also serves as the I-Bank's principal advocate, providing outreach and representation to senior industry leaders and all levels of government. Under his direction, the I-Bank has achieved a $31 billion portfolio of financing infrastructure, economic development and other governmental needs. Mr. Hazelroth previously has served as president of LTA Development Corporation and Imagine Homes where he managed real estate and construction activities including the development of sites and infrastructure, financing, and marketing. Prior to managing these companies, he engaged in the private practice of law and served as counsel to the California Housing Finance Agency. From 1982 to 1986 he served as District Director for then Congressman Vic Fazio. A distinguished business and community leader for over 30 years, Mr. Hazelroth has successfully advised, directed, and managed real estate development, community service, and political organizations. He has served as President of the Board of WEAVE (Women Escaping a Violent Environment), Chairman of the Port of Sacramento/Yolo, Sacramento County Planning Commission, Building Industry Association, and as Chair of numerous community fundraisers. He earned a Bachelor of Science degree from California State University, Los Angeles, and a Juris Doctorate degree from California Western School of Law.

Cynthia Bryant was appointed by Governor Schwarzenegger in January 2010 as the Chief Deputy Director for Policy for the California Department of Finance.  She represents Director Ana Matosantos on more than 80 boards, commissions, and authorities including, among others, the State Teachers’ Retirement Board (CalSTRS), the Commission on State Mandates, the Public Works Board, California Infrastructure and Economic Development Bank, the State Allocation Board and the Pool Money Investment Board.  She has served the Schwarzenegger Administration since November 2003, first as Chief Deputy Legislative Affairs Secretary and then Deputy Chief of Staff and Director of the Governor’s Office of Planning and Research.  She is also Chairman of the Strategic Growth Council.Prior to joining the administration, Ms. Bryant was the policy director for the Senate Republican Caucus and legal counsel to the Assembly Republican Caucus.Ms. Bryant received her juris doctor from University of California Hastings College of the Law and her B.A. from Lewis and Clark College in Portland, Oregon.