Banco Popular de Puerto Rico

Clarence D. “Clay” Armbrister has had a nearly thirty year career in the private and public sectors that have either been directly or tangentially involved in public finance.  In his most recent stint in the public sector, Mr Armbrister served as Chief of Staff to the Honorable Michael A. Nutter, Mayor of the City of Philadelphia. Mr. Armbrister has also served in senior positions in the higher education arena, serving up until recently as Senior Vice President and Chief of Staff to the President of Johns Hopkins University--building on four years of service at Temple University where Mr. Armbrister served as Executive Vice President and Chief Operating Officer prior to joining the Nutter Administration. Mr. Armbrister began his professional career as a lawyer in the public finance department of Saul, Ewing Remick and Saul, leaving as a partner in 1994 to begin what was thought to be a short term hiatus from the practice of law to serve as City Treasurer under then Mayor Edward G. Rendell. He went on to serve as the Managing Director of the Philadelphia School District (serving simultaneously as the Chief Financial Officer and the Chief Operating Officer) and as an investment banker, joining PaineWebber--which subsequently became UBS--where he left as a Director in the Public Finance Department in 2003 to join Temple University. Mr. Armbrister received his J.D. from the University of Michigan Law School in 1982 and his B.A. degree in political science and economics from the University of Pennsylvania in 1979. Mr. Armbrister is a native of Miami, Florida.  He, his wife Denise, and their family reside in the Overbrook Farms section of Philadelphia.

Brian A. Crumbaker is a shareholder with Hopping Green & Sams, P.A., in Tallahassee.  His practice focuses on the financing, construction and management of infrastructure necessary for the development of large-scale residential, commercial and mixed-use projects, including representation of landowners/developers before the Florida Land and Water Adjudicatory Commission and local governments in relation to the establishment of community development districts.  Mr. Crumbaker also provides counsel to indenture trustees, bondholders and community development districts on matters involving land secured, tax-exempt debt including, but not limited to, landowner bankruptcies, distressed/defaulted debt and agreed upon restructurings.Mr. Crumbaker received his Bachelor of Arts degree from The Florida State University, and his Juris Doctor degree from the University of Miami School of Law.

Ms. Arnone leads Barclays� coverage of New York State and its related entities, the City of New York, major Midwest issuers and the Firm�s tax-exempt securitization initiatives. Ms. Arnone has senior managed transactions for over $20 billion of New York City and New York State debt as well as several large Midwest clients including the States of Illinois, Indiana, Iowa, Michigan, Minnesota, Ohio and Wisconsin.Ms. Arnone has covered NYC for 20 years and assisted NYC in its creation of the TFA PIT and BARB credits. Ms. Arnone is recognized as the industry expert on tobacco securitizations and often presents before organizations such as the National Federation of Municipal Analysts and the Municipal Analysts Group of New York (MAGNY) on the status of the tobacco market. Having led 31 tobacco securitizations totaling in excess of $39.0 billion, Ms. Arnone's tobacco transactions include the $1.4 billion restructuring for New York City�s TSASC, a $3.62 billion restructuring for New Jersey which lowered the percentage of TSRs pledged and New York State�s highly successful $959.2 million appropriation/tobacco refunding through the TSFC in June 2011. She has extensive knowledge of the municipal market having led virtually every credit structure and product type.Ms. Arnone received a B.A. in finance from St. John�s University.

David Pollak has spent more than two decades working at the intersection of Public Policy and the financial markets. He is currently a Senior Strategic Advisor and Independent Consultant at McKenna, Long & Aldridge. He is also Director of Marketing at Pegasus Capital Advisors, L.P, a private equity fund manager that provides creative capital and business solutions to middle market companies. David is a member of the Democratic National Committee where he serves on the Credentials Committee.In 2008 David was the New York State Director for the Obama for America Campaign. From 2006-2008 Mr. Pollak served as Co-Chairman of the New York State Democratic Party, where he was unanimously elected by Party members. Prior to 2006 David was an investment banker at Donaldson, Lufkin & Jenrette, PaineWebber and UBS. His investment banking experience includes transactional work in the areas of asset management, municipal bonds, public power, transportation, public-private partnerships, and land-use.David is a regular political commentator on MSNBC, the FoxNews Channel, NY1 and CNN. He has spoken internationally about US politics, economics and financial policy. He has also been heard on National Public Radio, Air America, WNYC and WWRL and other radio stations nationwide.David serves on the Board of Trustees of The Community Service Society which is dedicated to alleviating poverty in New York. He is also on the Board of The Center for Arts Education, an organization dedicated to restoring and sustaining arts education in New York City's public schools. He also serves on the Board of Governors of the Arab American Institute based in Washington DC.He was named one of New York’s “Freshest Faces” by the Daily News, and a New York “Power Baby” by the New York Observer.David received his Master’s degree in Public Policy from Harvard University, and his BA in Economics and Politics from the Colorado College.

Paul serves as the Deputy Director of the Georgia Municipal Association (GMA), an association that represents almost all 538 cities in the state of Georgia.  .  Prior to joining GMA in 2001, Paul spent some 22 years with the Georgia Department of Community Affairs, serving in a number of different capacities, including deputy commissioner.As Deputy Director of GMA, Paul is responsible for the organization’s policy, communications, research, downtown development, outreach and governmental relations activities. Paul is also responsible for the management of the Georgia Cities Foundation, a 501(c)(3) non-profit foundation. Earlier in his career, Paul served as an economic and community development director of several Georgia regional commissions.  He has also served as a county manager.Paul received his Bachelor degree from Roanoke College in Salem, Virginia and his Masters in Urban Affairs from Virginia Tech.

David Rosenzweig is a partner in the New York office of Fulbright & Jaworski L.L.P. and practices in the area of bankruptcy, reorganization and creditors' rights. Mr. Rosenzweig handles transactional, litigation and advisory work related to chapter 11 cases, non-bankruptcy workouts and restructurings and commercial and municipal finance transactions. His experience includes rendering bankruptcy opinions in connection with securitizations and municipal bond financings, and he is a member of the firm's Municipal Bankruptcy & Insolvency Practice Group. Mr. Rosenzweig's experience also includes cross-border insolvency proceedings, property acquisitions and dispositions including the purchases of substantially all of the assets of chapter 11 debtors, and structuring transactions to minimize the risks associated with future insolvency and bankruptcy proceedings.

Henry Reyes, Managing Director, joined J.P. Morgan in early 2007 after working as the national head of Public Finance at Raymond James. His previous experience includes 15 years in public finance at Citigroup, where he was a Managing Director and served as Deputy Head of Public Finance and four years as a Certified Public Accountant in the Tampa Bay office of Ernst and Whinney where he specialized in municipal finance clients. Mr. Reyes has participated on over $25 billion of senior managed transactions for a variety of issuers including: Citizens Property Insurance Corporation, $2.0bn Series 2010A Bonds, the Florida Hurricane Catastrophe Fund $620mm Series 2010A Bonds, the State of Florida’s Public Education Outlay Program; Dade, Broward, Hillsborough, Lee and Sarasota Counties; the Cities of Tampa, Miami, St. Petersburg; H. Lee Moffitt Cancer Center and Research Institute; Tampa General, Baycare Health System; and Tampa Airport. His transportation experience includes serving as senior manager to the Orlando Orange County Expressway Authority, the Puerto Rico Highway and Transportation Authority, Miami, Tampa and Orlando Airports. Mr. Reyes has served as a senior manager on Water or Water and Sewer financings for Hillsborough County, Tampa Bay Water, Sarasota County, Miami-Dade County, Charlotte County, the Cities of Tallahassee, Sarasota, St. Petersburg ; and storm water Utility-related financings for Charlotte and St John's Counties. He has served on the following similar issues as senior manager: West Coast Regional Water Supply Authority, Florida Refunding Bonds, $40mm (approx.) Series 1989 (Hillsborough County Project); West Coast Regional Water Supply Authority, Florida Refunding Bonds, $20mm, Series 1995 (Hillsborough County Project); $104mm Charlotte County Florida Utility System Revenue Bonds (GDU Water Utility Acquisition Bonds); Tampa Bay Water Revenue Bonds, $372mm Series 1998; $19.5mm Series 1995 West Coast Regional Water Supply Authority (Hillsborough County Project); $ His utility experience includes senior-managing the following Puerto Rico Electric Power Authority financings: $1.9 billion 2007 Series TT&UU; $697 million 2008 Series WW; $822 million 2010 Series XX; $316 million 2010 Series CCC; and $218 million 2010 Series DDD. Mr. Reyes’ community involvement includes participation as a member of Orange County's Office of Economic Development Puerto Rico Trade Mission in 2000, serving on Governor Jeb Bush's Certificate-of-Need Workgroup in 2002 and 2003 and volunteering as a host/sponsor for Quest Inc. of Central Florida. He was also selected for the Florida Chamber's Leadership Florida Class of 2002. Mr. Reyes received his BS in Accounting with high honors from the University of Florida and earned an MBA in Finance and Strategic Planning from the Wharton School of the University of Pennsylvania.