Banco Popular de Puerto Rico

Mr. Olson has over 25 years of diversified experience in higher education including 13 years with Drexel University. During his tenure, Mr. Olson has been participated in the remarkable financial growth of the University and the College of Medicine through his management of Drexel’s financial resources and investments, strategic planning and forecasting. Additionally, he fosters ties with the larger higher education community as Drexel’s representative on the Philadelphia Region Area Programming Committee of the Eastern Association of College and University Business Officers and with the greater Philadelphia community as a Leader of the Boy Scouts of America. Prior to serving at Drexel, he rose through the ranks at Coopers and Lybrand (now PriceWaterhouse Coopers) as an Audit Manager with an industry specialty in Higher Education.

Mr. Arndt is the Authority�s chief executive officer. He holds a Masters Degree in Business Administration from Lehigh University and a Bachelor of Science Degree from Ursinus College. He joined Lehigh County Authority in 1974. He is past President and Regional Director of the Pennsylvania Municipal Authorities Association (PMAA); Chair of its legislative committee (administration); and served on various standing and ad hoc committees. He is a recipient of PMAA�s William H. Markus Award of Excellence for distinguished service to the municipal authorities of the Commonwealth of Pennsylvania, the Sahli Service Award and Extended Service Award. He is a member of American Water Works Association (AWWA), the AWWA Water Utility Council (legislative and regulatory affairs) and Chair of the Infrastructure Financing Committee. He has also chaired a steering committee on the use of Private Activity Bonds to finance water infrastructure.

Laura Jackson serves as the Deputy State Treasurer of External Affairs for the Office of the State Treasurer. A graduate of Mississippi College, Laura began her career in state government in 1987 as a staff auditor for then-State Auditor Ray Maybus. She remained there for 13 years, until she was hired by State Treasurer Marshall Bennett in 2000 to serve as the Bond and Collateral Director for the Office of the State Treasurer. She served in that capacity for six years, the majority of that time serving under Treasurer Tate Reeves. As the Bond and Collateral Director, she had oversight responsibility for the payment of debt service for the State of Mississippi and the Statewide Collateral Pool and Public Funds Guarantee State Bond Commission. As the Bond Advisory Director, she was responsible for guiding the State Bond Commission through the process of issuing general obligation bonds for various capital improvement and economic development related projects. In January 2012, at the request of Treasurer Lynn Fitch, Laura rejoined the staff at the Office of the State Treasurer as the Deputy Director. Laura is a graduate of Mississippi College in Clinton with a Bachelor of Science in Business Administration degree with an emphasis in Accounting. She also holds a Master’s in Business Administration from Mississippi College. She currently serves on several school-related boards in her local school district and has served on the Mississippi College School of Business Alumni Advisory Board and the Clinton Chamber of Commerce Board of Directors.

Robert G. Flanders, Jr., a partner in the law firm of Hinckley, Allen & Snyder LLP, chairs the firm’s municipal restructuring and business litigation practice groups. A graduate of Brown University and Harvard Law School, he is a former Justice of the Rhode Island Supreme Court. He also recently chaired the State Board of Regents for Elementary and Secondary Education and served as a Governor on the State's Higher Education Board. In February of 2011, Governor Chafee appointed Justice Flanders to serve as the State Receiver for the financially troubled City of Central Falls, which he is now leading through a Chapter 9 bankruptcy reorganization.

Joseph Harris, a certified public accountant and certified internal auditor, is the emergency manager for the City of Benton Harbor. He was the auditor general for the City of Detroit from 1995 to 2005, and Detroit’s chief financial officer from 2008 to 2009 under interim mayor Kenneth Cockrel. Prior to his employment with the City of Detroit, Mr. Harris was the controller for Domino’s Pizza Distribution. Mr. Harris also served as a full-time accounting instructor for Wayne State University from 1980 to 1986, and afterwards as an adjunct accounting professor until 2005. Mr. Harris has an MBA degree from the University of Michigan and a BBA degree from the University of Detroit. He is a U.S. Army veteran.

John Bonow, a 20-year veteran of PFM, was selected to lead the firm as its Chief Executive Officer effective January 2012 after a national search that involved candidates from both inside and outside PFM. In this capacity, he sets the firm's strategic direction as well as being responsible for the overall daily management of the firm. He also chairs the PFM Management Committee, the primary policy-making body in the firm, and serves on the PFM Group's Board of Directors. After joining PFM in 1991 as a financial analyst, Mr. Bonow was promoted through all professional levels of the firm before being named a partner in 2001. He spent his first eleven years with PFM expanding the firm's west coast Financial Advisory practice in the San Francisco office. In 2002, he opened PFM's Seattle office to better serve clients in the Pacific Northwest, and has grown that practice to one of PFM's largest geographic presences. Under Mr. Bonow's management, the firm’s western financial advisory practice, including the Pacific Northwest and western environmental utilities practices, meets a wide range of client needs and serves a diverse client base, including: cities, counties, health care and higher education institutions and related financing agencies, water utilities and water districts, public power utilities, airports, flood control districts, and special tax/assessment districts. Mr. Bonow and his colleagues have worked to assist clients in numerous key areas, including funding plan development, credit analysis, capital planning, rate setting, debt transaction management, and asset/liability analysis. He has helped clients raise billions of dollars for important capital projects and refinance or restructure prior debt obligations. When appropriate, Mr. Bonow has also involved professionals from PFM Asset Management LLC on his project teams to best serve the needs of clients. This teamwork and use of the PFM Group's deep resources have enabled him to provide clients with comprehensive ideas to effectively manage their balance sheets. Mr. Bonow has a Bachelor of Arts degree in Economics from Yale University.

Mikhail Foux is part of Citi's municipal strategy team. His title is Director. He is mainly involved in identifying trends and relative value opportunities in municipal cash and derivatives markets. Mikhail has a broad background in credit. Before joining municipal strategy he was covering US high grade corporates. Prior to joining Citi, Mikhail was a US credit derivatives strategist at Credit Suisse and traded emerging markets bonds at Banco Santander Central Hispano.

As chief credit officer – public finance, Mr. Penchoff chairs the Municipal Credit Committee and oversees the credit review and underwriting process for the approval of all public finance transactions.  Prior to being appointed to his current role in July 2009, he served as president and chief operating officer of Assured Guaranty Re Ltd., beginning in December 2005.  He had been the chief underwriting officer for AG Re since 2004.His previous experience included 10 years at MBIA Insurance Corp., where he was a managing director for public finance with responsibility for business development and underwriting. Prior to MBIA, he was vice president in the Bond Insurance Ratings Group at Standard & Poor’s and was an investment officer at Aetna Life and Casualty. Mr. Penchoff’s career began as the program planning manager for the Town of West Hartford Connecticut. Mr. Penchoff received his graduate degree in public administration from the University of Southern California and his undergraduate degree from the University of Connecticut.  He is a member of the National Federation of Municipal Analysts (NFMA).