Center on Municipal Capital Markets Advisory Council
Dwight D. Burns
Treasurer, Dallas Area Rapid Transit
Dwight Burns, a 1995 LBJ graduate, is the Treasurer of Dallas Area Rapid Transit and has 25 years of wide-ranging experience in governmental finance. He served as Executive Director of the Texas Public Finance Authority, as Vice President/Senior Analyst at Moody’s Investors Service and in numerous roles as an investment banker and financial advisor in the municipal bond industry. Burns is a sixth-generation Texas native.
Kimberly Edwards
Public Finance Manager, Treasury Operations Division, Texas Comptroller of Public Accounts
Kimberly Edwards has over 30 years of experience in public finance and fixed-income capital markets. She joined the Texas Comptroller’s Office in January 2024 as the Public Finance Manager in the Treasury Operations Division. Previously, she was a Managing Director at Piper Sandler & Co., serving state agencies, cities, and educational institutions in Texas and Oklahoma. Edwards has also led the Texas public finance practice for Fidelity Capital Markets and held leadership roles with the Texas Public Finance Authority and the Municipal Advisory Council of Texas. She holds degrees from Rice University, UT Austin, and the LBJ School of Public Affairs.
Don Gonzales
Senior Managing Director, Estrada Hinojosa
Don Gonzales is a Senior Managing Director, Shareholder, and Vice Chairman of the Board at Estrada Hinojosa & Company, Inc., a Dallas-based investment banking firm. He leads client development and serves as the Lead Banker for key clients like CPS Energy, San Antonio Water System, and University Health. With over 30 years of investment banking experience, Gonzales also completed the first U.S. financing through the North American Development Bank. A Certified Public Accountant, he has testified before the U.S. Congress and spoken on public finance issues nationwide.
Paul Jack
Senior Managing Director, Estrada Hinojosa
Paul Jack is a Senior Managing Director and Board member at Estrada Hinojosa, with over 25 years of experience in structuring and issuing debt for political entities in Texas and across the U.S. He has managed or supported over $35 billion in bond issuances for projects ranging from transportation and city infrastructure to utilities, schools, and hospitals. Prior to joining Estrada Hinojosa, Jack worked at J.P. Morgan, Public Financial Management, and Citigroup. He also served as a U.S. Navy officer before his public finance career.
R. Paul Kinscherff
Special Advisor, The University of Texas at Austin
Paul Kinscherff has served as a special advisor in the Office of the President at The University of Texas at Austin since August 2022, previously leading the development of UT Austin's strategic plan, "Change Starts Here." He joined the university in 2017 as an executive in residence at the LBJ School and McCombs School of Business. Before UT, Kinscherff held senior finance roles at Boeing, including corporate treasurer. He holds degrees from USC and UT Austin, where he actively supports advisory councils, the Texas Exes Investment Committee, and the Kinscherff Fellows endowment.
Leslie Martin
Senior Vice President and Senior Tax-Free Fixed Income Portfolio Manager, Cavanal Hill Investment Management
Leslie Martin is Senior Vice President and Senior Tax-Free Fixed Income Portfolio Manager at Cavanal Hill Investment Management, BOK Financial's asset management subsidiary. She leads the firm's tax-free fixed income investment team and oversees municipal bond portfolio management, investment strategy, and credit research for institutional and private clients. Prior to joining Cavanal Hill, Martin worked at Moody's Investors Service and the Municipal Advisory Council of Texas. She holds Bachelor of Science degrees in Business and Economics from the University of Kansas and a Master of Public Affairs degree from the LBJ School of Public Affairs at The University of Texas at Austin.
Julie Meyer
Vice President – Ratings, Moody’s Ratings
Julie Meyer is an Assistant Vice President - Analyst on Moody’s Global Project and Infrastructure Finance team, based in Dallas. She covers a range of infrastructure issuers, including public power, airports, toll roads, seaports, and project finance issuers. Previously, she worked on Moody’s Local Government team. Meyer serves on the Executive Council of the Texas Chapter of Women in Public Finance and is a member of the National Federation of Municipal Analysts. She holds a bachelor's degree from Washington State University and a master's degree from the LBJ School of Public Affairs at UT Austin.
Michael Nicholas
Chief Executive Officer, Bond Market Association
Michael Nicholas is the CEO of the Bond Dealers of America, a D.C.-based trade association representing securities firms and banks in the U.S. bond markets. He oversees all aspects of the BDA, including federal lobbying, advocacy, strategy, and member relations. Previously, he spent a decade as Managing Director at the Securities Industry and Financial Markets Association (SIFMA) and Vice President at The Bond Market Association. Nicholas also worked at Morgan Keegan & Company and served as a district field representative for U.S. Representative Don Sundquist. He is a graduate of the University of Memphis with graduate work at Duke University.
Tom Oppenheim
Senior Managing Director, Raymond James
Thomas K. Oppenheim is a Senior Managing Director at Raymond James, where he joined the firm in 1995 to establish and lead the Southwest Municipal Finance operation, helping to build it into a highly respected platform across the region. He has 40 years of industry experience, including 31 years with Raymond James, advising a diverse range of municipal issuers throughout the Southwest and serving as lead banker on more than $40 billion in senior-managed transactions. Tom holds an A.B. in Economics from Dartmouth College and a Master of Science degree from the Massachusetts Institute of Technology (MIT) and is a member of Raymond James’ Public Finance Leadership Team, where he is recognized for his strategic insight, deep market expertise, and trusted client relationships. His professional and civic leadership includes service on the Board of the North Texas Commission as Treasurer and Chairman of the Finance and Audit Committee, the Board of the Municipal Advisory Council of Texas, and as past Co-Chair of the Texas Bond Buyer Conference, as well as roles with the Dartmouth National Alumni Council and the Super Bowl XLV Host Committee and Finance Subcommittee. He was recognized by Governor Rick Perry for his leadership in the passage of Texas S.B. 876 related to municipal bonds, He holds the SIE and FINRA Series 7, 52, 63, 79, and 99 licenses, along with the Series 53 Municipal Securities Principal designation.
Patricia Rodriguez
Executive Director, Texas Capital
Patricia Y Rodriguez is an Executive Director at Texas Capital with more than 25 years of industry experience she works with government, education and nonprofit clients. Over those years she has served her clients as a Municipal Advisor, underwriter and as a government banker but always working with public/nonprofit agencies. Before joining Texas Capital, she served as a Managing Director, at Janney Montgomery Scott, Director for Loop Capital, Director for Huntington Bank and Vice President, at JP Morgan and in Commercial Banking for Wells Fargo. Patricia earned a Master of Public Affairs from The University of Texas at Austin’s LBJ School of Public Affairs and a Bachelor of Arts from Southern Methodist University.
David Saustad
Vice President, HJ Sims
David Saustad is a Vice President at HJ Sims, an investment bank that provides capital sourcing and advisory services to healthcare organizations and charter schools. He helps not-for-profit senior living organizations implement strategic initiatives by structuring and sourcing capital for expansion, advising on acquisitions, and managing mergers. Prior to joining HJ Sims, Saustad worked at MuniCap, Inc., where he supported economic development projects for local governments and real estate developers, focusing on project management, financial modeling, and revenue studies for bond financings. He holds a bachelor's degree in economics and political science from Boston College and a master's degree in public affairs from the LBJ School at the University of Texas at Austin.
Geoffrey Schechter
Head of Municipal Portfolio Management/Investment Officer, MFS Investment Management
Geoffrey is an Investment Officer at MFS Investment Management where he serves as the firm’s Head of Municipal Portfolio Management. He has over 35 years of experience managing municipal bond portfolios, including retail mutual funds, closed end funds and institutional separate accounts, with mandates ranging across the maturity and quality spectrum, including a meaningful allocation to Below Investment Grade/Non-Rated. Schechter previously worked in the investment department at Liberty Mutual Insurance. He holds a bachelor's degree in accounting from the University of Texas at Austin and a master’s degree from Boston University. He holds the Chartered Financial Analyst (CFA) and Certified Public Accountant (CPA) designations.
Alex Wallace
Managing Director, Head of Municipal Products Group President of Flagstar Public Funding Corp.
Alex Wallace, Managing Director at Loop Capital Markets, is a 29-year veteran of the municipal securities industry with broad experience across many aspects of municipal finance. After his initial time at Loop in 2008-09, he spent 11 years at U.S. Bank, where he started the U.S. Bancorp Municipal Products Group and served as the Head of the Public Finance Group. Previously, Mr. Wallace was Co-Head of the Municipal Securities Group at Wachovia Securities (1996-2008). He began his career working for the Department of Revenue and the State Treasurer's Office of the State of North Carolina. Mr. Wallace currently serves as Chairman for the North Carolina State University Board of Investments and the Board of Advisors for the University of Chicago's Harris School of Public Policy Center for Municipal Finance. He is also a member of the Board of Directors for the Bond Dealers of America (BDA). Mr. Wallace has BA degrees in Economics and Business Management from North Carolina State University and a Master of Public Administration (MPA) with a concentration in Public Finance from North Carolina State University.
Howard Cure
Partner, Evercore Wealth Management
Howard Cure is a partner and Director of municipal bond credit research for Evercore Wealth Management. Previously, he worked at Financial Guaranty Insurance Company, the investment banking firm of Prager & Co., Moody’s Investors Service, and the New York State Senate Finance Committee. He has also written topical pieces and quoted in The Wall Street Journal, Bloomberg News, Barron’s, Reuters and The Financial Times and appeared on CNBC, National Public Radio and Bloomberg News. Cure received a bachelor’s degree in economics from SUNY Albany and earned a joint master’s degree in public affairs and an MBA from the University of Texas at Austin.
Jonathan Frels
Partner, Bracewell LLP
Jonathan Frels is a partner with Bracewell LLP, where he serves as bond counsel, underwriter’s counsel, and disclosure counsel in public finance transactions for school districts, cities, counties, state agencies, navigation districts, port authorities, economic development corporations, water authorities, and other special districts. In addition to his experience in private practice, Frels served as Deputy Attorney General for Legal Counsel at the Texas Office of the Attorney General under then Attorney General Greg Abbott, where he supervised the Office of the Attorney General’s non-litigation civil legal divisions, including the agency’s Public Finance Division, Opinion Committee, General Counsel Division and Open Records Division. He also served as Chief of the Office of the Attorney General’s Public Finance Division, where he oversaw the division’s review and approval of public securities.
Daniel Hartman
Chief Executive Officer, PFM Financial Advisors LLC
Dan Hartman is the Chief Executive Officer and Managing Director at PFM, with over 30 years of public finance experience. Before becoming CEO, he led PFM’s Financial Advisory and Consulting practice and managed the firm’s national utilities group. Hartman has served as a financial advisor to major U.S. water, wastewater, and public power agencies, including the Los Angeles Department of Water and Power and CPS Energy. He has been involved in issuing over $75 billion in utility and revenue bonds and previously held senior roles at Bear Stearns and Citigroup. He graduated from the University of North Carolina – Chapel Hill.
Mark Kim
Chief Executive Officer, Municipal Securities Rulemaking Board
Mark Kim is the President and CEO of the Municipal Securities Rulemaking Board (MSRB), overseeing the $4 trillion municipal securities market. Before becoming CEO, he served as Chief Operating Officer and was a member of the MSRB Board of Directors. Prior to the MSRB, Kim was CFO of D.C. Water, where he led an award-winning bond financing program. He has also held senior roles with the City of New York and worked as an investment banker at UBS and Goldman Sachs. Kim holds a Ph.D. from Harvard, a law degree from Cornell, and a bachelor's from Northwestern.
Hasan Mack
Partner, McCall, Parkhurst & Horton L.L.P.
Hasan Mack is a partner with McCall, Parkhurst & Horton L.L.P., where he serves as bond counsel, underwriter’s counsel, and disclosure counsel for state agencies, cities, water districts, municipal utility districts, river authorities, and economic development corporations.
Before joining McCall, Mack served as Deputy General Counsel and Director of Intergovernmental Relations for the Texas Lieutenant Governor. He has also represented the Lieutenant Governor on the Texas Bond Review Board, overseeing the issuance of state debt by state agencies and certain institutions of higher education.
Mack was appointed by Governor Greg Abbott to the Texas Southern University Board of Regents, where he served as Chairman, and he currently serves as a Commissioner for the Texas Alcoholic Beverage Commission on behalf of the Governor.
John L. Martin, Jr.
Senior Managing Director, Hilltop Securities
John Martin has over 40 years’ investment banking experience representing state and local governments. Martin joined Hilltop Securities’ predecessor firm, Southwest Securities, in 1994, after spending the first ten years of his career with another regional firm. His focus is primarily serving as a municipal advisor to Texas cities, counties, school districts, and special districts, and includes an extensive and diverse client list.
Martin volunteers his time serving several non-profit and charitable organizations in a variety of roles. He is a Paul Harris Fellow through Rotary International. He is also an active member of the Church of the Incarnation in Dallas, where he currently serves on the Finance Committee as well as The Incarnation Foundation. A native Texan, Martin is an Eagle Scout and a graduate of the University of Oklahoma, earning a Bachelor of Business Administration.
Drew Masterson
Chief Executive Officer, Masterson Advisors LLC
Drew Masterson is the Chief Executive Officer at Masterson Advisors LLC. Drew has more than 41 years of experience in the public finance sector and provides advisory services for issuers of tax-exempt bonds such as: charter schools, cities, municipal utility districts, tax increment reinvestment zones, convention centers/hotels, and others. Since inception in 2018, Masterson Advisors LLC has priced more than 42 billion in bond issuances, including over 3 billion in charter school financings. He holds a bachelor’s degree in Mathematics and Economics from Vanderbilt University and an MBA in Finance from the Wharton School of Business at the University of Pennsylvania. Drew currently serves on the boards for the Texas Public Charter Schools Association and the City of Houston Investment Committee, and is a former board member of YES Prep Public Schools and former Chair for the Municipal Advisory Council of Texas.
Laura Powell
Managing Director, Co-Head of Higher Education and Non-Profits, Jefferies
Laura Powell is a Managing Director at Jefferies in San Antonio, where she leads the firm's national higher education practice. With 25 years of public finance experience, she has managed over $30 billion in financings for higher education institutions, nonprofits, governments, and utilities. Powell previously worked at Wells Fargo, J.P. Morgan, and UBS, and has expertise in various financial products, including variable rate debt and private placements. She holds degrees from Stanford, UT Austin, and Columbia Business School and serves on the boards of the San Antonio Parks Foundation and Arboretum San Antonio.
Robin Redford
Senior Managing Director, Ramirez & Co., Inc.
Robin Redford is a Senior Managing Director at Ramirez & Co., Inc., where she leads the Texas Finance Group and co-leads the national Affordable Housing Finance Group. With over 20 years of experience in housing finance, she has provided advisory services to the Texas Department of Housing and Community Affairs and the North Carolina Housing Finance Agency. Before her finance career, she conducted research at the Urban Institute’s Housing Policy Center and managed projects for the Austin Parks Foundation. Redford serves as Vice-Chair of the Texas Municipal Advisory Council and is a founding member and past president of the Texas Chapter of Women in Public Finance. She has received the Women’s Bond Club of New York’s “Rising Star” award and has served on the boards of several charitable organizations. Redford holds degrees from Rice University and the LBJ School at UT Austin and is licensed for Series 7, 53, and 63.
Richard Ryffel
Professor of Practice, Executive Director of Business Leadership, Mitchell E. Daniels School of Business, Purdue University
Richard Ryffel is the Executive Director of Business Leadership and a Professor of Practice at Purdue University, where he leads outreach efforts to the practice community. He previously served as a Professor of Finance Practice at Washington University in St. Louis and has over 35 years of experience in public and corporate finance and wealth management. Ryffel has advised various institutions on financings and capital structures, leading numerous taxable and tax-exempt financings, and managed investments for high-net-worth families and endowments. His industry background includes roles at A.G. Edwards, Bank of America, Edward Jones, and J.P. Morgan. He holds a bachelor's degree in mechanical engineering from Tufts University and an MBA in finance from Boston University, and he founded several finance research conferences.
Laura Slaughter
Executive Director, Municipal Advisory Council of Texas
Laura Slaughter is the Executive Director at the Municipal Advisory Council of Texas (Texas MAC). Texas MAC is a membership organization whose purpose is to promote effective and efficient investment banking, underwriting, trading and sales of municipal debt by collecting, maintaining and distributing information relating to issuing entities. As Executive Director, Slaughter is responsible for the day-to-day operations of the organization and its thirty employees. She has been with Texas MAC since 1983 and is a graduate of The University of Texas at Austin.
Dusty Traylor
Managing Director, RBC Capital Markets
R. Dustin Traylor has been with RBC Capital Markets since 2001. He is a Managing Director in the firm’s San Antonio, Texas office. His primary role is serving as financial advisor and underwriter to Texas Municipalities. He has a BBA in accounting from Texas A&M University and an MBA from Baylor University. Client Base includes Texas ISD’s, cities, counties, and hospitals focusing on the planning and implementation of long term capital improvement financing plans for entities throughout the state.