Banco Popular de Puerto Rico

Michael Patrick George was appointed to a four-year term as Delta Watermaster beginning in January, 2015.� The position of Delta Watermaster was created by the 2009 Delta Reform legislation.� The Delta Watermaster is an independent officer of the State reporting jointly to the State Water Resources Control Board and the Delta Stewardship Council.� The Watermaster has statutory responsibility for administering water rights within the Sacramento/San Joaquin River Delta and the Suisun Marsh.� Additionally, the Delta Watermaster advises the Board and the Council on related water rights, water quality and water operations in and affecting the Delta, which is, simultaneously, a critical estuarine habitat, a vital agricultural area, and the hub of California’s water infrastructure.Prior to starting his term, Mr. George was active in western water law and policy as a water lawyer, as the CEO of a publicly traded water resource management company, as a senior executive of an investor owned water company and as an investment banker serving both public and private entities in the water industry.� He is an honors graduate of The University of Notre Dame where he was elected to Phi Beta Kappa and of the Georgetown University Law Center where he was an editor of Law and Policy in International Business.� Mr. George has lectured on California water resource issues at the University of California San Diego, the University of Southern California and the University of California at Berkeley.� He is a member of the California Bar.

Mark joined KNN Public Finance as a Managing Director in June 2014 and opened KNN’s new Los Angeles office for the firm.� Mr. Young brings over 30 years of experience serving municipalities and has worked on over $30 billion in short and long-term debt. Mr. Young’s experience includes serving both as financial advisor and investment banker, most recently as a Managing Director and Co-Head of the Western Region for Loop Capital Markets. Prior to Loop, he was a Principal at the financial advisory firm of Gardner, Underwood & Bacon LLC.� His clients have included the counties of Los Angeles, San Bernardino and San Diego, the cities of Los Angeles, San Diego, Long Beach, Manhattan Beach, Poway, Redondo Beach and Phoenix, San Diego and Los Angeles Unified School Districts, Long Beach Airport, the Port of Los Angeles, the Los Angeles Department of Water and Power and the Metropolitan Water District of Southern California.� Mr. Young has a B.A. in Economics with departmental honors from the University of California, Berkeley.� Mark passed the MSRB’s pilot Municipal Advisor Representative Qualification Examination (Series 50).

John Finke is President of the Public Facilities Group, a nationally recognized not-for-profit specializing in P3 delivery of public facilities. �PFG uses the New American Approach for P3 delivery which blends a DBFOM model with 100% Tax-Exempt financing to achieve the most efficient and cost effective form of project delivery. �Mr. Finke has completed 28 projects using the American Approach with a total cost of $2 Billion. �Each project was delivered on or ahead of schedule and at or under budget. � In addition each came in substantially below his governmental client’s expectations for both cost and schedule when compared to a traditional public works delivery. � Prior to forming Public Facilities Group Mr. Finke founded and lead the P3 program at the National Development Council. ��

Frank Shafroth is director of the Center for State and Local Leadership at George Mason University.

Assemblyman Mike Gatto, a regular feature in the California media, has been extensively published on the issues of fiscal and monetary policy.�Mike was elected to the Assembly in June 2010, after a series of three elections in seven weeks.� In his second term, he was named Assistant Speaker Pro Tempore, presiding over meetings of the Assembly.� He is the longest serving current member of the Assembly’s Banking & Finance Committee and served as Chairman of the state Assembly’s fiscal committee (Appropriations) from 2012-2014.� Previously, he worked as an attorney at O’Melveny & Myers, advising clients on high-stakes matters.�Mike is responsible for several landmark pieces of legislation, many which required a near-impossible bipartisan, supermajority vote for passage.� He authored California's Rainy Day Fund, significantly improving the state’s credit rating.� He was the Principal Co-Author and a lead negotiator of the Water Bond of 2014.� He authored AB 1839 (2014), to return high-paying film and television jobs to California and also authored the only substantive Prop 65 amendment ever, AB 227 (2013),� providing a safe harbor for businesses, shielding them from costly meritless lawsuits.In the words of the Orange County Register, Mike is considered “a too-rare instance of fiscal restraint and good sense.” �NBC LA reported that Mike was “virtually alone in offering proposals that are big enough to address the state’s big structural problems.”�� Lastly, he was praised in Forbes Magazine because he “created over a thousand local businesses” in California.�Mike Gatto is now the longest-serving current member of the State Assembly.� He is married to Danielle, and they have two young daughters, Elliana Vivienne and Evangelina Felicity.

Richard has extensive experience in public finance, including providing counsel to states, public authorities and municipalities on housing finance, economic development, water, sewer and solid waste infrastructure, public-private partnerships, securitization, special fund financings, transportation and validation. He develops financing program plans and provides legal counsel and assistance once the plan has been instituted. He has drafted significant financing legislation in many states, including Alaska, California, Connecticut, Indiana, Montana, New Jersey, New York, West Virginia and Wyoming, and for the Commonwealth of Puerto Rico and the District of Columbia.Richard has been a long-time trustee of the Citizens Budget Commission, contributing to several special committee reports and has chaired several Bond Buyer and other public finance conferences.He has managed and structured a variety of (tax exempt, taxable, general obligation, revenue-based, private activity, credit-enhanced) bond and securitization issues as bond or finance counsel for various states, public authorities and local governments. He has also served as underwriter’s counsel for various investment banking firms, and has extensive experience in working with state treasurers and budget officials, rating agencies, financial advisers and underwriters on complex and innovative new programs such as state regulatory, financing and oversight statutes for its distressed municipalities.

Frank Fairman is head of Piper Jaffray public finance services where he oversees the firm’s public finance activities, as well as the municipal derivative business. He has held this position since 1991 and is a member of the firm’s executive leadership team. He joined Piper Jaffray in 1983 as an investment banker in public finance. Prior to that, Fairman started his career as a consultant at Arthur Andersen & Co.Fairman holds a bachelor’s degree in Economics from Yale University and a Master of Business Administration degree with a concentration in finance from the Wharton School of the University of Pennsylvania.

Rashmi Khare is a Director on the Social Investment�team, focused on developing financial products designed to drive social progress. She develops collaborative partnerships between key private, nonprofit, and public sector stakeholders, leading the processes of due diligence, program design, financial modeling, contracting and raising capital.�Prior to Social Finance, she spent eleven years as a fixed-income bond trader with Fidelity Investments. Rashmi holds an MBA from the Tuck School of Business at Dartmouth, where she was a Center for Business and Society Fellow, and a B.S. in Economics from the Massachusetts Institute of Technology.

Richard J. Raphael is an independent consultant focusing on sustainable finance. He is currently consulting with Fitch Ratings on Environmental, Social and Governance (ESG) issues. Rich is also an Adjunct Faculty member of Drew University since January, creating and teaching a course on urban governance and finance with three other industry professionals.Rich brings an extensive background in public finance to these areas. �After 36 years in in the municipal ratings industry, he retired from Fitch Ratings on October 30, 2015 where he was Managing Director and Head of Fitch Ratings’ U.S. Public Finance Group since 2009.�� The US Public Finance Group includes over 100 professionals providing ratings and commentary on municipal securities. Rich was previously responsible for the State and Local Ratings Groups.Rich joined Fitch shortly after its recapitalization in 1989 following 10 years with Standard & Poor’s. Rich started up and managed Fitch’s Local Tax-supported Group and later managed the State Ratings Group. He has produced numerous research and rating guideline reports on state and local tax-supported bonds and is a frequent speaker at industry conferences.��Rich is a member and former Chairman of the Municipal Analysts Group of New York (MAGNY) and a former President of the Municipal Forum of New York.� He is also an associate member of the Governmental Finance Officers Association (GFOA) where he serves as a private sector advisor to its Committee on Economic Development and Capital planning. He previously served two three-year terms in the same role to its Government Debt and Fiscal Policy Committee. Rich has also been a trustee of the Citizen's Budget Commission.Rich has received numerous Smith’s Research and Gradings Municipal All-Star awards and received the Career Achievement Award from the National Federation of Municipal Analysts (NFMA) in 2014. Rich was awarded the Austin Koenen Career Achievement Award from The Municipal Forum of New York in2015. ��