Banco Popular de Puerto Rico

Stephen Drizos joined the Commonwealth of Pennsylvania and was appointed Executive Director of the Pennsylvania Economic Development Financing Authority in 2004.� Prior to joining the Commonwealth he was an officer in the Army and the Pennsylvania Army Reserve National Guard. He then achieved more than 30 years of diversified business experience in various financial and operational positions, with a concentration in public finance.� His roles included senior investment banker and manager of fixed income and public finance.� He is a past member of the Issuer Advisory Group of the Municipal Securities Rulemaking Board (MSRB), which develops rules regulating securities firms.

Craig Ebert serves as the President of the Climate Action Reserve where he is responsible for ensuring that the organization’s activities meet the highest standards for quality, transparency and environmental integrity.� He oversees the organization’s continued leadership and commitment to ensuring offsets are a trusted and powerful economic tool for reducing emissions.� In his role, he also leads the organization in identifying and entering into other opportunities that build upon its knowledge and expertise and further its work under its mission and vision.� One developing opportunity Craig is overseeing is the launch of a climate finance assessment program that quantifies the climate impact of investments.During his career, Craig has helped create the foundations for international, national and state policies to address climate change. He supported U.S. negotiations on international climate change agreements, including negotiations leading up to the creation and signing of the Kyoto Protocol, and helped develop the Clean Development Mechanism (CDM) and Joint Implementation (JI) provisions under the protocol. Craig’s work also involved pioneering efforts on carbon accounting principles and methodologies. He served as the technical director of Estimation of Greenhouse Gas Emissions and Sinks, which was adopted by the IPCC as its GHG Inventory Programme, and was a key architect behind the development of the official U.S. national GHG inventory to meet commitments under the UNFCCC.Prior to joining the Reserve, Craig advised the Western Climate Initiative (WCI) and served at ICF for nearly 34 years.

Mr. Sheehan, Director, has over 16 years of public and private finance experience with a primary investment banking focus on economic development finance. �Mr. Sheehan has served as investment banker for numerous development and redevelopment financings, including Public-Private financings, Tax Increment Finance Districts, Special Taxing Districts and Special Assessment Districts across the county.�� �Mr. Sheehan has completed economic developments financings for the Cities of Baltimore and Hyattsville, the Counties of Howard County (which was the County’s first P3 financing), Prince George’s and Anne Arundel in Maryland as well as Stafford and Prince William Counties in Virginia. �In addition, he has served as investment banker for numerous municipal entities, including cities, counties, states and educational institutions on new money and refunding issues.� Mr. Sheehan has extensive experience with housing and real estate finance and worked with the Department of Housing and Urban Development (“HUD”) to develop and implement a financing vehicle that has allowed public housing authorities to borrow over $4 billion from the bond markets in order to finance capital improvements. Mr. Sheehan is the co-author of a monthly research report that is distributed to Stifel clients on the market for economic development financings. �Mr. Sheehan is active in the Urban Land Institute (ULI), and is a member of the Baltimore Chapter of Lambda Alpha International (LAI), the Maryland Government Finance Officers Association and a member of the Board of Trustees for the Council for Development Finance Agencies (CDFA).

Sakinah has over 15 years of public finance experience, including ten years of commercial and investment banking experience providing the day-to-day transaction and analytical support for the issuance of tax-exempt and taxable bonds for a variety of municipalities and non-profit organizations in the Midwest and Northeast.�Currently, Sakinah Rahman is a Vice President in the Philadelphia Industrial Development Corporation’s (“PIDC”) Financial Services Group.� Ms. Rahman is responsible for developing, managing and marketing PIDC’s tax-exempt financing programs.� PIDC is Philadelphia’s primary economic development corporation.� PIDC was founded in 1958 as a non-profit, joint venture between the City of Philadelphia and the Greater Philadelphia Chamber of Commerce with the mission of attracting and supporting business growth as well as development within the City of Philadelphia.�Since joining PIDC in September 2008, Ms. Rahman coordinated the development of the City of Philadelphia’s Recovery Zone Facility Bond Program, created pursuant to the American Recovery and Reinvestment Act of 2009, and the Philadelphia Authority for Industrial Development’s (“PAID”) tax-exempt equipment leasing program as well as restructured PAID’s variable-rated pooled loan program for non-profits after the downgrade of the letter-of-credit provider.�Ms. Rahman earned a B.S. in Finance from Morgan State University and a M.B.A from The Wharton School, University of Pennsylvania.�

Mark D. Brodsky is the Chairman of Aurelius Capital Management, LP, an investment manager. This essay does not constitute investment advice or a solicitation.

Mr. Eaddy joined Estrada Hinojosa and opened the Firm’s New York City office in December 2010 in midtown Manhattan. He brings over 30 years of banking, rating agency, insurer, and legal municipal finance expertise, which includes a diversity of water and sewer, various transportation-related, housing, general obligation, school district, student loan, higher education, public/private partnership, taxable municipal, municipal lease and short-term note transaction experience.Mr. Eaddy began his career as an associate with Hawkins, Delafield & Wood in New York City. His career includes a combined nine years as a senior analyst at MBIA, Standard & Poor’s, and Fitch Ratings. Mr. Eaddy headed the Public Finance department at LaSalle Financial Services in Chicago 2006 – 2007 and helped M.R. Beal & Company reopen its Chicago office in 2005. He has worked at Siebert Brandford Shank, Prudential-Bache Capital Funding, and Cabrera Capital Markets as well.A graduate of the Northwestern University School of Law and The Johns Hopkins University, Mr. Eaddy maintains General Securities Representative, Municipal Securities Principal, and Uniform State Agent licenses and is slated to take the Series 50 exam in the ensuing months.

Jorge Hernandez, serves as Aerostar’s Chief Financial Officer.� Prior to that Mr. Hernandez served as Chief Financial Officer for Onelink Communications. Previous work experience includes:Director-Finance for Telefonica Moviles, in Madrid, SpainDirector & Regional Controller for Bellsouth International, a subsidiary of BellSouth CorporationArthur Andersen LLP.�His international experience includes start-up, development and integration of various international ventures in Latin America.�Mr. Hernandez holds a BBA in Accounting Cum Laude from the University of Puerto Rico and is a Certified Public Accountant.� �He has served as a board member for the PR Chamber of Commerce, Commonwealth-Parkville Schools and currently serves as a member of the board of the PR Down Syndrome Foundation and the PR State Society of CPA’s Innovation & Technology Committee.RECOGNITION-AWARDSSelected by CableFax Magazine (major US industry magazine) as the Independent Finance Executive of the Year 2011 (Top Ops Awards 2011)Recognized by the UPR Business School Alumni (AFAE) as Distinguished Alumni November 2010Named Distinguished Business Entrepreneur by the PR Chamber of Commerce PYMES committee in March 2009Selected by the Caribbean Business as one of the top 40 leading executives under 40 (in 2008)

Bryan Kendro is Vice President for Project Development at Star America Infrastructure Partners, an independent US headquartered developer and manager of greenfield infrastructure assets in North America.� Star’s investors include US contractors, pension funds and insurance companies.Prior to joining Star Bryan formed Public Solutions and Strategies bringing more than a decade of public sector experience at both the State and Federal level to his clients.Most recently Bryan was the director of the Office of Policy & Public Private Partnerships at the Pennsylvania Department of Transportation.� Under his leadership, the Commonwealth reached financial close on the Rapid Bridge Replacement P3 Project, which will replace 558 bridges across the Commonwealth in 3 years.Before joining the Corbett Administration and PennDOT, Bryan was a long time aide to Congressman Jim Gerlach both in Washington D.C. and as his District Director in Pennsylvania.� While in Washington he served as a senior policy advisor and liaison to the US House Transportation and Infrastructure Committee.

Neal Attermann is a Director and Co-Head of the Airport Finance Group and the Director of Citi’s Aviation PPP Practice. He has over 25 years of experience as senior managing underwriter on a variety of airport, airline and aviation project financings and has senior managed over $25 billion in financings. He has served as a lead banker to airport clients, such as Phoenix Sky Harbor International Airport, Denver International Airport, Dallas / Fort Worth International Airport, O’Hare International Airport, Orlando International Airport, Massachusetts Port Authority and Los Angeles International Airport. He has served as senior underwriter to a number of airlines for their tax-exempt special facility financings including American Airlines, British Airways, Delta Air Lines, FedEx, JetBlue Airways and United Airlines. Earlier this year he was lead banker for the transaction to finance the redevelopment of Terminal B at LaGuardia Airport by the private consortium, LaGuardia Gateway Partners in a public-private partnership with the Port Authority of New York and New Jersey.� It was the largest AMT, airport and P3 transaction in municipal market history.� Neal has a JD from Tulane University and a BA from Vanderbilt University.

Tim B. Keith serves as chief executive officer of Texas Central Partners (TCP), a private, Texas-based company that is developing a high-speed passenger railway that will connect Dallas and Houston.As a seasoned executive and investor with nearly 25 years of financial and operational experience in large real estate and infrastructure projects, Mr. Keith has developed key relationships and perspectives critical to TCP’s success.Mr. Keith previously co-founded and served as chief investment officer of HKS Capital Advisors, a boutique investment advisory firm founded in 2011. HKS Capital Advisors provides investment advisory services and fund management expertise to high net worth investors with a focus on private enterprise transactions.Prior to HKS Capital Advisors, Mr. Keith was formerly the Global Chief Executive Officer of RREEF/Deutsche Bank Infrastructure Investments, where he managed the worldwide operations of the firm’s infrastructure funds management businesses. He had a 10-year career with RREEF/Deutsche Bank, a New York-based global alternative asset management firm, where he held various senior executive positions and served on the firm’s Global Executive Committee. He was a partner of RREEF America LLC, prior to its acquisition by Deutsche Bank and served as chief executive officer of Cabot Industrial Trust after he led its privatization on behalf of RREEF clients.Previous to RREEF, Mr. Keith served as an executive at Hunt Realty Investments where he helped found, grow, and sell Meridian Industrial Trust.Mr. Keith currently serves as a member of the Westmont College board of trustees, and was formerly chairman of Maher Terminals, USA board of directors and a member of Maher Terminals’ Canada board of directors. He also served on the board of Spark Infrastructure in Australia.Mr. Keith graduated magna cum laude with a Bachelor of Arts degree in economics and business administration from Westmont College in Santa Barbara, California. He and his wife Susan reside in Dallas and have two children.