Banco Popular de Puerto Rico

Sheila Amoroso is a senior vice president, co-director of the municipal bond department for the Franklin Templeton Fixed Income Group and portfolio manager of Franklin Federal Tax-Free Income Fund.Ms. Amoroso joined Franklin Templeton Investments in 1986.Ms. Amoroso holds a bachelor of science degree from San Francisco State University and an M.B.A. from Notre Dame de Namur University. She is a member of the California Society of Municipal Analysts and the National Federation of Municipal Analysts.�

Gilbert (Gil) Gonzalez served as Deputy Undersecretary and Acting Undersecretary of the United States Department of Agriculture (USDA) Rural Development mission area in Washington, D.C. He managed Rural Housing Services, Rural Utilities Service and Rural Business-Cooperative Service managing efforts related to minority home ownership, broadband, renewable energy, small business and faith-based programs. While at USDA Mr. Gonzalez also served as an advisor to Secretary of Agriculture Ann Veneman during the Katrina and Rita hurricane recovery efforts in the State of Louisiana.In 2006, Mr. Gonzalez joined the Department of Homeland Security, Office of the Federal Coordinator for Gulf Coast Rebuilding team, as deputy director where he facilitated the long-term rebuilding efforts in Louisiana and in the Mississippi Gulf Coast Region.Prior to his appointment to USDA, Mr. Gonzalez served as president of the Community Development Loan Fund (CDLF), Inc. overseeing the company�s investment and loan portfolio. The CDLF was a collaborative between the City of San Antonio, U.S. Department of Treasury�s Community Development Financial Institution program and 21 bank investors which serve the credit and capital needs of small businesses and non-profit organizations.On Sept. 1, 2009, Mr. Gonzalez joined the University of Texas at San Antonio Institute for Economic Development to serve as Director of the Rural Business Program (RBP). He manages the RBP which focuses upon rural development, capacity-building and business development within the South-West Texas Border Small Business Development Center Network.Since 2010 Mr. Gonzalez participated and worked on several Eagle Ford Shale joint studies pertaining to economic impact, workforce and housing with the Center for Community and Business Research, Center for Urban and Regional Planning and College of Public Policy. As Director of the RBP he works with small and rural communities in the Eagle Ford and Cline Shale oil and gas impacted regions educating community leaders and municipalities on seizing the opportunities created by the shale energy boom to diversify their local economy, create jobs and develop sustainable communities.He currently serves as a co-chair on the economic development and community investment committees of the Eagle Ford Consortium (EFC). The EFC is a community-based organization that represents the twenty-four county Eagle Ford Shale region. The membership of the EFC is comprised of municipal, workforce, education, energy and production companies, landowners, economic development organizations, healthcare and housing representatives.Mr. Gonzalez also serves as co-chair of the D. C. based Association of Small Business Development Centers (ASBDC) Shale Energy Special Interest Group; a national effort connecting small business clients with supply-chain opportunities being created by the energy sector.�

Trey�s principal area of practice is public finance, urban development law, and state legislative matters.� He regularly represents special districts whose chief purpose is developing water, sewer, drainage, parks, and road infrastructure.� Trey also represents developers in connection with the creation and operation of tax increment reinvestment zones (TIRZ�s), local government corporations, municipal management districts, and other financing mechanisms used to facilitate development and the financing of public works and infrastructure.� Trey serves as general counsel and bond counsel to special districts and local governments.� Trey works with developers to structure development agreements with cities and other local government entities for public participation in commercial, residential and mixed-use developments.

Jessica Kane is the Director of 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 Office of Municipal Securities, Ms. Kane worked in the Division of Corporation Finance and the Office of Legislative and Intergovernmental Affairs at the SEC. �Ms. Kane holds a bachelor’s degree from Georgetown University and a law degree from George Mason University School of Law.

Guy Yandel is an Executive Vice President with George K. Baum & Company and Co-Manager of the firm�s Municipal Finance Division.� Mr. Yandel started with George K. Baum & Company in 1991 as a banker in the Firm�s National Housing Finance Group.� His prior positions at the firm have included the Manager of the National Housing Finance Group and the Head of Public Finance.� Mr. Yandel is a graduate of Rice University with a Master�s Degree in Business and Public Management, and a graduate of the United States Merchant Marine Academy with a Bachelor�s Degree in Marine Engineering.�

Jim was selected by the Board of the Pittsburgh Water and Sewer Authority (PWSA) to serve as its Executive Director effective June 1, 2015.� In this position, he is responsible for overseeing day-to-day operations of the Authority and implementing the policies established by the Board.� The PWSA provides water and sewer services to over 300,000 people in Pittsburgh and neighboring communities.�Since 2012, Jim had been serving as the Interim Executive Director of PWSA as an employee of Veolia North America, his previous employer since 2001.� He held various positions with Veolia including Executive Vice President of Veolia Water’s West Region, a $100 million municipal water and wastewater contract operations business with contracts in seven states. From 2001 to 2006, he was VP of Municipal Business Development for Veolia’s West Region, responsible for securing new municipal business in states from Texas to Hawaii.�From 1994 to 2001, Jim was Vice President, Corporate Communications and Marketing, for the California Water Service Company (Cal Water). At Cal Water, he was responsible for acquisitions and contract opportunities, government relations and public relations. Jim led Cal Water into the first long-term lease of a water system in California, as well as into its first out-of-state acquisitions.�Prior to coming to Cal Water, Jim was Director of Congressional Relations for the National Association of Water Companies (NAWC) from 1991 through 1994. In that role, he served as the investor-owned water industry’s Congressional lobbyist, presenting the industry’s views on such issues as the tax on contributed capital and the Safe Drinking Water Act.�From 1985 through 1991, Jim worked for U.S. Senator Harry Reid (D-Nevada) in a variety of legislative roles. His last position with the Senator was as Deputy Legislative Director. His responsibilities included managing the legislative staff, developing the annual legislative agenda and overseeing economic, transportation and housing issues.�A native Californian, Jim was graduated from Cornell University in 1985 with a BA in Government, and in 2000 from Golden Gate University with an MS in Finance.

Jim DeMasi manages Stifel’s Fixed Income Research and Strategy Group from the company’s Baltimore, MD office.� The Research and Strategy Group provides analysis, market insight, and portfolio management advice to a wide range of institutional bond investors, including depositories, insurance companies, money managers, and public funds.Jim authors Alpha Advisor, a monthly publication that provides commentary on the economy, monetary policy, and bond market strategies.� He is a frequent speaker at investment seminars and banking conferences and has made several appearances on CNBC, Bloomberg Television, and Fox Business News.� ��Prior to joining Stifel in 2000, Jim worked for the Federal Deposit Insurance Corporation (FDIC) in Washington, DC.� During his 13-year career with the FDIC, Jim served as a bank examiner, securities analyst, and capital markets section manager.� His primary responsibilities at the FDIC included managing the capital markets training program for examiners and assisting bankers in complying with regulatory policies regarding securities and interest rate risk.�Jim’s post-graduate education includes the Chartered Financial Analyst program, the Stonier Graduate School of Banking, and the Securities Industry Institute at the Wharton School of The University ofPennsylvania.� He received a bachelor's degree in finance from West Virginia University in 1987.� His professional affiliations include membership in the Baltimore Security Analysts Society and the CFA Institute.�

LeeAnn Ghazil Gaunt has served as the Chief of the Enforcement Division’s Municipal Securities and Public Pensions Unit since 2013.� As Chief of the Unit, Ms. Gaunt oversees enforcement attorneys and industry specialists in eight Commission offices. The Unit investigates potential violations of the federal securities laws in the $3.7 trillion municipal securities market and in connection with the $2.7 trillion in assets held by public pension funds.� Ms. Gaunt joined the Commission in 2000 and has investigated and supervised matters in various areas, including pay-to-play, offering fraud, investment adviser fraud, insider trading and financial fraud.� Prior to joining the Commission, Ms. Gaunt practiced securities litigation with the law firms of Skadden Arps and Goodwin Procter LLP in Boston.� She obtained her bachelor’s degree from Fairfield University and her law degree from Northeastern University School of Law.� �