Banco Popular de Puerto Rico

Eric manages Moody�s California Local Government Ratings Team, which is located in both San Francisco and New York. The team assigns and monitors ratings for state�s highest profile local governments and essential purpose enterprises. After 20 years with Moody�s, Eric has personally been the lead analyst for many of these high profile issuers, including the City of Los Angeles, the City and County of San Francisco, the Metropolitan Water District of Southern California, and the California Department of Water Resources. He frequently represents the firm at industry conferences, covering topics ranging from municipal pensions and bankruptcy to California water issues and Moody�s land-secured bond rating methodology. He is a senior member of Moody�s Rating Committee and a member of the firm�s Public Finance Credit Policy Committee, Liquidity Task Force, and Annual Appropriation Working Group. Prior to joining Moody�s in 1993, Eric held positions in economic consulting and public policy in both Sacramento and Washington D.C., most recently with the California Governor�s Office of Policy and Research. He has a Master of Public Policy degree from the University of California at Berkeley and is a Phi Beta Kappa graduate of the University of Maryland, with a BA in Economics.

Karl Pan is the chief financial officer for the Port of Los Angeles, the number one containerport in the nation and — with its AA and Aa2 bond rating — the highest-rated U.S. seaport operating without tax support. Appointed in February 2008, he directly oversees the Port’s Finance Division, which includes the Accounting and Budget, Debt Management, Financial Management, Management Audit and Risk Management sections and associated functions.Pan brings to the post 29 years of domestic and international finance experience in commercial lending, risk management, operatiional and capital planning, marketing, and economic resources allocation. Prior to his appointment to the Port, Pan served as the deputy executive director of finance at Los Angeles World Airports (LAWA), a position he held since April 2006. He previously served as the acting chief financial officer at LAWA since September 2005. Pan moved to that position after having served as financial manager of LAWA’s Debt and Treasury Management division since January 2004. As financial manager, his responsibilities included overseeing debt management, rates and charges and capital programs. He also oversaw LAWA’s grant and passenger facilities charge activities.Prior to his position with LAWA, Pan served as an executive vice president at the Bank of Hawaii in Honolulu where he was on the management committee and in charge of the bank’s Global Market. His responsibilities included oversight of more than 40 branches across the Asia-Pacific region, an operating budget of $90 million, and management of nearly $5 billion in assets. He also previously worked for Chemical Bank in New York and the Bank of China in Los Angeles. Pan holds an M.B.A. in finance from the University of California, Los Angeles and a bachelor’s degree in liberal arts from the University of Texas, Austin.

Carmen Vargas is a Senior Vice President for Cabrera Capital Markets. Ms. Vargas joined Cabrera in July 2010 after 10 years with Citigroup’s public finance department and 2.5 years with Stone & Youngberg’s public finance department. Ms. Vargas is managing Cabrera’s efforts to expand Cabrera’s investment banking practice and senior manager participation in financings throughout California. Ms. Vargas has extensive experience with California financings and has senior managed 137 transactions with a total par amount of over $9.7 billion over the course of her career. Moreover, she has worked with a broad array of issuers throughout California including cities, counties, K-14 school districts, utility districts, airports, non-profits and higher education institutions. She a specialist in structuring and managing complex tax-exempt and taxable, fixed, variable and synthetic fixed rate bond financings. Ms. Vargas earned Bachelor of Arts Degrees in Political Science and Ethnic Studies from Brown University. She is an Associate Member of the California Society of Municipal Finance Officers (CSMFO) and a Member of the Association of Women in Water, Energy and Environment (AWWEE). Ms. Vargas also serves as Treasurer and Past President of the Board of Directors of the YWCA Pasadena-Foothill Valley and serves on the Board of Directors of Women in Public Finance (WPF).

Alison J. Radecki, a partner in the New York office, is a member of the Public Finance Department. Ms. Radecki has broad experience in tax-exempt finance, having served as bond counsel, underwriter�s counsel, borrower�s counsel and credit enhancer�s counsel.Ms. Radecki has worked on a variety of financings including revenue bonds, special tax bonds, variable-rate debt and general obligation bonds. These transactions have included the financing, or refinancing, of certain projects for healthcare institutions, educational institutions, public power agencies, cultural institutions and industrial development facilities.

Mike is an Executive Director and heads the National Transportation Group at JPMorgan within the Public Finance Department. Mike began his Public Finance career in government, working for the County of Santa Clara, California. After a decade at another Wall Street firm, Mike joined JPMorgan in 2011 to deepen the firm’s transportation expertise and focus on working with transit, highway and bridge municipal clients throughout the country. Mike has a broad background in Public Finance, working with issuers in the State, Local and Infrastructure sectors on a diverse set of transactions. Specific to transportation, Mike has worked on many of the largest infrastructure projects in the Nation, including senior managing over $8 billion in Toll Bridge Revenue Bonds for the Bay Area Toll Authority’s Seismic Retrofit program. Other clients include the Arizona Department of Transportation, Santa Clara Valley Transportation Authority, Los Angeles Country Metropolitan Transportation Authority and Oregon DOT.Mike received his bachelor’s degree from the University of California at Berkeley and his MBA from Santa Clara University.

Dave is a Managing Director and Sector Head for Healthcare and Higher Education in the Public Finance and Infrastructure Group. His team provides comprehensive investment banking services to health, education and cultural institutions. Mr. Johnson has over 25 years of investment banking experience and has senior managed more than $30 billion of financing transactions for NFP organizations. He advised on the development of Medanta/MediCity, a new 1,600-bed academic medical center in Gurgaon, Delhi India. Mr. Johnson is a frequent speaker and author on topics related to health care policy, markets and finance. This includes authoring a monthly BMO series on market-based healthcare reform. Mr. Johnson and Dean Nancy Kane of the Harvard School of Public Health co-authored a chapter, “The U.S. Health System: A Product of American Values and History”, in The Fragmentation of the U.S. Health System (published by Oxford Press 2010).Mr. Johnson holds a Bachelors of Arts degree in English Literature from Colgate University and a Master’s degree in Public Policy from Harvard University. Mr. Johnson was an Education Peace Corps Volunteer in Liberia, West Africa and a United States Presidential Management Intern. Mr. Johnson is a member of the Visiting Committee of the Harris School of Public Policy at the University of Chicago, a member of the Buck Advisory Council for the Buck Institute and an occasional lecturer at the Harvard School of Public Health and the University of Chicago. Mr. Johnson has the following professional affiliations: he serves on the Board of Directors, Executive and Finance Committees of the Chicago Council on Global Affairs; he is an executive member of the Health Management Academy’s CFO, Senior Executive and Treasurer Forums; he is a member of the Audit Committee for CHRISTUS Health; and he is co-chair of the Chicago Council’s Global Healthcare Roundtable. Mr. Johnson was an elected member of the Overseers Visiting Committee for the Harvard Medical School and the Harvard School of Dental Medicine (2001-2006), the U.S. Chair of the Executive Committee for the British-American Project (1998-2000) and the former Chair of the Finance Committee of the Terence Cardinal Cooke Health Center (1991-1996), a 700-bed health care institution in New York City.

Rondy Jennings, Managing Director, is a member of the Public Sector and Infrastructure Department and is responsible for investment banking relationships with large not-for-profit healthcare organizations. He joined Goldman Sachs as a managing director in 2008. Rondy has executed tax-exempt and taxable financings for a variety of healthcare clients ranging from community hospitals to academic medical centers. In addition, he has served as financial advisor on transactions involving both acute care hospital facilities and managed care organizations. Prior to joining Goldman Sachs, he was a managing director and co-head of the municipal healthcare group at UBS Securities LLC. Rondy began his career at JP Morgan & Co. Rondy earned a BA in economics from Swarthmore College and an MBA from Stanford University. He serves on the Board of Directors for Access Group, Inc.

Robert Mattix is a managing director in the FTI Healthcare group of the FTI Corporate Finance practice and is based in Brentwood. Mr. Mattix has 14 years of experience in the healthcare industry. He uses his operational and financial expertise to implement complex improvement initiatives and assess strategic options for FTI Healthcare clients. Mr. Mattix’s expertise also includes project management; operations improvement; financial assessment; financial modeling; bankruptcy and insolvency; creditor relations; physician practice management; diagnostic service development; debt covenant reviews; hospital and physician practice acquisition and disposition; and hospital productivity evaluation. From tracking performance improvement to modeling expansion potential or coordinating sale and divestiture processes, Mr. Mattix has assisted independent not-for-profit hospitals, for-profit physician management companies, large urban teaching hospitals and integrated delivery systems in achieving and surpassing their goals. He often utilizes his organizational and management skills, both onsite and offsite to provide support and coordination to the project. Mr. Mattix develops and delivers high impact presentations, communicating complex issues in a concise, informative and persuasive manner. Recently, Mr. Mattix has assisted a private college of medicine with $1.2 billion in annual revenue through an intensive performance improvement initiative. During his oversight tenure, he facilitated the design and implementation of more than a dozen financial and operational improvement projects that improved the college’s financial performance by more than $60 million (or 5% of revenue) annually. Mr. Mattix was instrumental in achieving an incremental $15 million in annual revenue improvement from its faculty group practice’s healthcare service billings and over $45 million from a myriad of other operational improvements designed to enhance financial performance while preserving mission focus in the clinical, research and teaching arenas. During this project, he served as the budget planning architect and thought-leader in devising an alternative method for the distribution of unrestricted funding to departments and programs based on measureable outcomes criteria for the upcoming fiscal year that will seek to capture an additional $30 million in improvements annually.Mr. Mattix served as a Consultant to a County struggling to restructure over $4 billion in public debt and balance its General Fund operating budget following the loss of over $70 million in annual revenues. He evaluated the County’s departmental budgets and structures; identifying immediately implementable revenue and expense improvement options available balance the budget.Mr. Mattix served as the lead Financial Advisor to a 4 hospital integrated health system facing earnings deterioration and a liquidity crisis. He established a cash management protocol to stabilize liquidity and created a rolling 13 week cash flow projection. He reopened discussions with the creditor constituencies and expanded the project to include a complete operational assessment and turnaround plan development.For a 4 hospital inner-city hospital system in crisis, Mr. Mattix developed daily cash flow reports and 13 week projections. He worked with insolvency counsel to prepare the organization for a chapter 11 filing. He participated in negotiations with three prospective purchasers and oversaw due diligence efforts. He analyzed the liquidation value of the organization and estimated the recovery waterfall by claim status and priority.For a three hospital district in chapter 9 bankruptcy, Mr. Mattix worked as the Financial Advisor to a consortium of bank groups holding secured debt exceeding $80 million. The turnaround plan for the system ultimately required the sale of all hospital operations; providing the bank group with a par plus accrued plus expense recovery.Mr. Mattix served as the Financial Advisor/Chief Restructuring Officer to a non-profit community hospital. He evaluated the recovery options and ultimately maximized the enterprise’s value through court oversight of the asset sales, free and clear of liabilities; allowing for the ongoing mission of the organization.For a two-hospital system in bankruptcy, Mr. Mattix worked as a Financial Advisor to the official committee of unsecured creditors. He monitored the financial performance of the organization and created a weekly tracking vehicle for the critical performance indicators. He participated in mediations with the secured creditors and facilitated the enhanced recovery to the unsecured creditors by 300 percent.For an integrated delivery system, Mr. Mattix performed financial and operations analyses; monitored productivity; tracked EBIDA improvement plan progress; coordinated the asset marketing, due diligence and sale process; and provided post-sale organization wrap-up. For a large, for-profit physician management firm, Mr. Mattix evaluated the existing and proposed business plan. He designed and implemented an organizational restructuring and force reduction. He worked with the management team to prepare the organization for a Chapter 11 filing. He modeled the financial performance of the existing portfolio and evaluated its liquidation value. He participated in divestiture negotiations and asset dispositions.For a large, urban teaching hospital in default of its debt covenants, Mr. Mattix evaluated and projected the impact of the management team’s improvement initiatives on the financial performance of the organization. He developed a model to incorporate the improvement plan into the hospital’s existing budget and, using this model, evaluated the influence of multiple variables on the success or failure of the improvements plans. This analysis assisted the management in negotiating a forbearance agreement with the secured creditors by establishing specific quarterly criteria for monitoring improvement.For a rapidly growing community hospital, Mr. Mattix assessed the global performance of the organization and evaluated a proposed facility expansion project. For a county hospital, Mr. Mattix provided project management and coordination for a complete assessment of the declining organization. He reviewed the senior management team’s effectiveness and made recommendations to the board chair. He compiled and edited the final report and developed the board presentation materials. For many other hospitals or health systems, Mr. Mattix has participated in operations and financial assessments, often serving in the roles of restructuring advisor and project manager, providing final report development and delivering the board presentation. Mr. Mattix joined FTI when it acquired Cambio Health Solutions in June of 2005. He had been with Cambio since 1995. His previous healthcare experience includes serving as the regional vice president of operations for a primary care physician practice management firm, as the project specialist for a national hospital marketing firm and as an operations consultant for a state governor’s office of finance and administration. He holds a M.B.A. in management from Middle Tennessee State University and a B.A. in economics from DePauw University. He is a member of the Association of Insolvency and Restructuring Advisors and the Turnaround Management Association. He is also a certified insolvency and restructuring advisor and a certified turnaround professional.