Banco Popular de Puerto Rico

Lloyd Pepperl is a Vice President in Moody's U.S. Public, Project and Infrastructure Finance Relationship Management Team, and oversees Business Development for the U.S. Southwest region from Dallas, Texas.Mr. Pepperl began his public finance career at the New Mexico Finance Authority. Subsequently, Mr. Pepperl became an investment banker at RBC Capital Markets in Phoenix and Dallas, providing financial advisory and underwriting services to some of the largest governmentalentities in the country. While at RBC, Mr. Pepperl advised and structured over $6 billion of municipal bond debt. �Mr. Pepperl also spent time with UBS Financial Services, Inc., and formed Pepperl Consulting Group, LLC, focusing at each firm on investing options for public finance professionals.Mr. Pepperl holds a BA in Political Science from Arizona State University, and a Master’s in Public Administration, Financial Management, from the University of New Mexico.

Semper Augustus Consulting advises on organizational structure; e-trading; trading, sales and operational systems development; compliance; and operational risk management.Tom joined Morgan Stanley in 1996 and spent 20 years serving as the Global COO of the Interest Rate & Currency Division and COO of Municipal Securities, and held positions in e-commerce, underwriting, and trading.� Tom was a founding member of TMC and previously served as a Board Member.� Previously, Tom was a senior trader at George K Baum and CS First Boston and served in senior roles as an institutional broker.� Tom began his career as a senior treasury analyst at Cablevision Systems Corporation.

Steve Williams, MPA, CGFO is the Assistant City Administrator/Chief Financial Officer for the City of Conroe.� Prior to coming to Conroe, Steve worked for the Town of Flower Mound as the Director of Budget & Research and in the City of Dallas as a Sr. Budget Analyst.� He attended the University of North Texas, earning Master of Public Administration and Bachelor of Arts (Political Science) degrees.�Steve is a member of and has served in key leadership positions in various professional organizations, as well as within the greater Conroe area community.� Such involvement includes the Government Finance Officers Association of the US and Canada, GFOA Texas, serving as a trustee on the Montgomery ISD School Board, the Conroe Noon Lions Club, Leadership Montgomery County Board of Directors, Conroe YMCA, and Education for Tomorrow Alliance.� He is also a Certified Black Belt Head Instructor within the American Society of Karate, teaching a class to approximately 50-60 children and adults, and coaches/coached youth basketball, football, and baseball.�Steve and his family live in April Sound (Conroe, TX), where he previously served on the Property Owners Association Board of Directors.� On a personal note, Steve is happily married to his wife of 23 years, Carrie, and a father of four children:� Kathryn (22); Peter (18); Caleb (16); and Jordan (14).� Carrie is a fourth grade teacher at Montgomery Elementary School, while all four children attend/attended schools within MISD.� Kathryn is a recent graduate of the Bush School at Texas A&M University.� Steve and his family attend Fellowship of Montgomery Church near Montgomery.� They also enjoy participating in a variety of sports and leisure activities, especially area youth sports, MISD extracurricular programs, ASK karate, and water sports.�

Since co-founding Estrada Hinojosa in 1992, Mr. Hinojosa has been responsible for managing the firm’s transactions and growth of the firm. In the past two years alone, the firm participated in 470 transactions totaling $48 billion. As founding partner and CEO he has led the firm in 22 years of consecutive profits.Mr. Hinojosa has built a strong reputation for creative solutions to complex challenges in the public finance arena. He has broad experience as a financial advisor to many diverse type of political subdivisions and municipalities, as well as direct involvement with the firm’s municipal bond underwriting activities.In 2006, Mr. Hinojosa was elected by industry peers to serve on the global board of the Securities Industry and Financial Markets Association (SIFMA). SIFMA is the industry’s think-tank, with offices in New York, Washington, London and Hong Kong. He was appointed in 2002 by the President and confirmed by the United States Senate to serve on the Board of Directors of the Securities Industry Protection Corporation, completing his second term in 2006. Most recently, he was elected to serve on Board of the Bond Dealers of America headquartered in Washington, D.C.As an active member of the community he has participated in many civic and church related organizations. Most recently he was the recipient of the first Monarch Award by Mi Escuelita, Dallas for his many years of service and advocacy for an organization that teaches children how to read, write and speak English and basic math before entering elementary school.Recognized as an authority in the Investment Banking industry, Mr. Hinojosa has provided expert testimony in numerous seminars in the United States, Mexico and Spain.

Charles Almond has more than 40 years of experience practicing law and specializing in federal income tax matters – in particular, federal income tax matters relating to state and local government bonds and public finance. He can be reached at charles.almond@bracewell.com.

Robert Poole is Director of Transportation Policy and the Searle Freedom Trust Transportation Fellow at the Reason Foundation. He received his B.S. and M.S. in mechanical engineering at MIT and did graduate work in operations research at NYU.His 1988 policy paper proposing privately financed, congestion-relief toll lanes inspired California’s landmark public-private partnership pilot projects law (AB 680), which has served as the prototype for more than 20 similar laws in other states. In 1993 he directed a study that introduced the term HOT Lanes.Poole has been an advisor to the Federal Highway Administration, the Federal Transit Administration, the White House Office of Policy Development, and the DOTs of California, Florida, Georgia, Indiana, Utah, Virginia, Texas, and Washington State. He served on the Caltrans Privatization Advisory Steering Committee, in 1989-90, and was a member of California’s Commission on Transportation Investment in 1995-96.He is a member of the board of the Public-Private Partnerships division of ARTBA and a member of the Transportation Research Board’s Managed Lanes Committee. In 2003-05 he was a member of the TRB’s special committee on the long-term viability of fuel taxes for transportation funding. In 2008 he served as a member of the Texas Study Committee on Private Participation in Toll Roads. In 2010 he served as a member of the Expert Review Panel on Managed Lanes, for the Washington State DOT. He also served on the transition team for Florida’s Gov.-Elect Rick Scott. He writes a monthly column on transportation policy issues for Public Works Financing, and publishes the monthly e-newsletter, Surface Transportation Innovations.

Jesse J. Hereford serves as Director of Public Affairs at the North American Development Bank (NADB).� As Director of Public Affairs, Jesse oversees all departmental functions, recommends policy direction and strategy, manages U.S. federal legislative affairs and acts as an agency spokesperson.Previously, Mr. Hereford served as the Director of Government Relations and Business Development for S&B�Infrastructure (S&BI). Prior to joining S&BI, Jesse worked for U.S. Senator Kay Bailey Hutchison of Texas in both her state and Washington, D.C. offices.He holds a Master of International Business Administration from the University of San Diego and a Master of Public Administration and a Bachelor of Arts from the American University.

Asha Mathew is a Vice President at Assured Guaranty where she is a senior underwriter in the Public Finance Eastern Region group.� Asha analyzes a broad scope of credits, including transportation, utility and excise tax sectors.� Prior to joining Assured Guaranty in 2010, Asha began her career in the municipal bond insurance industry at Radian Asset Assurance where she was a lead analyst reviewing Texas special districts and utility credits.�� She is a graduate of the New York Institute of Technology.� Asha is also a member of the Municipal Analysts Group of New York and National Federation of Municipal Analysts.�

Joined FirstSouthwest in 1996Serves as Managing Director of FirstSouthwestManager of Special District Finance GroupSpecialist in special district bonds in the State of Texas since 1983:� municipal utility district, levee districts, road districts, tax increment districtsClient base includes major master planned communities and residential and commercial projects throughout the State of TexasCoordinates the development and implementation of financing plans, the approval by State of Texas agencies, preparation of all marketing documents and credit assessments necessary to the sale of securitiesFrom 1986 to 1996, served as an executive with Masterson Moreland Sauer Whisman, Inc., which was acquired by FirstSouthwest in 1996From 1983 to 1986, served as an executive with Juran & Moody, Inc.EducationBachelor of Business Administration in Marketing and Finance, University of HoustonCurrent AffiliationsAdvisory Member for the Masters of Land Development at Texas A&M UniversityAdvisory Member for West Houston Quality Planned Development CommitteeLicenses HeldRegistered Representative of the Financial Industry Regulatory Authority (FINRA)General Securities Representative, Series 7Municipal Advisor Representative, Series 50Uniform Securities Agent, Series 63Investment Banking Representative, Series 79�

Earl Heffintrayer is Assistant Vice President/Analyst for the Global Project Finance and Infrastructure Team. Earl is the U.S. airport sector lead analyst, and covers a diversified portfolio concentrated in transportation. Earl also actively leads new ratings on bids in the growing US public private partnership (P3) market.Prior to joining Moody’s, Earl worked at the Port Authority of New York and New Jersey where he primarily analyzed alternative capital project delivery methods. Earl began his career as a civil engineer on large infrastructure projects in the New York City region. Earl holds an MBA from Stern School of Business at New York University and a BS in Civil and Environmental Engineering from the University of Rhode Island.� Earl is a CFA charterholder.