Mark McGruder

Managing Director/Head of Municipal Trading/Underwriting

BOK Financial Securities, Inc.

Mark McGruder joined BOK Financial Securities, Inc.'s Texas Municipal Finance Team in March 2019, and is responsible for the daily management of the firm's municipal trading and underwriting activities. Prior to joining BOKFS, Mr. McGruder was a Senior Vice President for the Investment Banking division at UMB Bank, and previously served as Managing Director and Head of Municipal Syndication for Hilltop Securities Inc., where he served as the senior municipal underwriter for 14 years. Mr. McGruder has more than 26 years of industry experience. Mr. McGruder is a Financial Industry Regulatory Authority registered representative, currently holding Series 7, 52, 53 and 63 licenses.

---

Donald Gonzales

Senior Managing Director

Estrada Hinojosa & Company, Inc.

Mr. Gonzales is Senior Managing Director and Manager of the San Antonio office of Estrada Hinojosa & Company, Inc. and also serves on its Board of Directors. He is a Certified Public Accountant with over thirty years of financial consulting and investment banking experience serving governmental entities. He has been the Lead Banker in financings throughout Texas for cities, counties, housing finance corporations, schools (both higher education and public education), enterprise fund supported entities such as water, sewer, electric, gas and airport facilities, hospital districts, and mobility projects. Mr. Gonzales has represented and assisted numerous entities in the preparation of rating agency and insurance company presentations. His transportation financial advisory and underwriting experience includes Alamo RMA, Donna International Toll Bridge, San Antonio International Airport, VIA Metropolitan Transit Authority, Bexar County Rail District, Central Texas Regional Mobility Authority, Brazoria County Toll Road Authority, Hidalgo County Regional Mobility Authority, and Fort Bend Grand Parkway Toll Road Authority. Mr. Gonzales has testified before Congress as an expert witness as well as the predecessor agency of the Texas Commission on Environmental Quality (TCEQ) regarding utility system finance. He has completed more than $400 million of projects through the Texas Water Development Board, numerous single-family housing transactions and completed the first North American Development Bank (NADBank) bond transaction. In the last five years, he has completed municipal bond financings totaling more than $5 billion. Prior to his investment banking career, Mr. Gonzales worked in public accounting and was the Staff Director for the Texas School Performance Review for Texas State Comptroller John Sharp. While working in public accounting, he has performed tax and management consultant services for various accounting firms. Mr. Gonzales' 25+ years of public accounting experience with a concentration in taxation will be of significant value in assisting in the review and analysis of various types of financial and tax-related issues that may be contemplated. Locally, he has served as past Chairman of the Witte Museum Board of Trustees, St. George Episcopal School Board of Trustees and Chaired various committees on the San Antonio Hispanic Chamber of Commerce. He is married and the father of two teenage daughters.

---

Danielle Cody

Vice President

Piper Sandler & Co.

Danielle Bradford is a Vice President with Piper Sandler based in Houston. She has fifteen years of experience providing investment banking services to municipal debt issuers throughout Texas with a focus on the firm's state and local government issuers, transportation, higher education, and school district clientele. She graduated with high honors with a Bachelor of Business Administration in Finance and Accounting from the University of Texas at Austin and is a registered representative currently holding Series 7 and 63 licenses.

---

Stephen Eustis

Managing Director

Baird

Stephen Eustis joined Baird in January 2015 from RBC Capital Markets where he most recently was a senior public finance banker. He also worked as a financial analyst and support banker. He has assisted in the completion of more than 500 special district transactions during his career. Stephen focuses on Texas special districts including municipal utility districts, levee improvement districts, municipal management districts and improvement districts. He has provided financial advisory services to several master-planned communities including The Woodlands, Sienna, Springwoods Village, Clear Lake City Water Authority and Woodforest. Stephen holds a Bachelor of Science degree in finance from Trinity University. Mr. Eustis is registered with FINRA and holds the Series 7, Series 50, Series 53, Series 54 and Series 63 licenses.

---

Ester Flores

Senior Vice President

Hilltop Securities Inc.

Ester Flores is a Senior Vice President at Hilltop Securities Inc., based in Dallas. She has twelve years of experience providing investment banking and financial advisory services to municipal debt issuers throughout Texas, Colorado, Oklahoma, Mississippi and Kentucky. She joined Hilltop, formerly First Southwest Co. in 2009. She has helped structure and execute more than 240 transactions totaling par amount of approximately $25 billion for issuers including higher education institutions, state agencies and transportation authorities. In 2020 the Bond Buyer named Ms. Flores among its 2020 Rising Stars. The program honors municipal finance professionals under the age of 40 whose strong leadership and innovative thinking have improved their community and the public finance industry. She currently serves on the Texas Women in Public Finance Executive Council. She holds a B.B.A. in Finance with a minor in Spanish from University of North Texas and holds the Series 7, 50 and 63 licenses.

---

Randall Hawkins

Managing Director

Raymond James

Randall Hawkins is a Managing Director at Raymond James & Associates, Inc. While currently underwriting and trading municipal debt throughout the country from the Dallas office, Randall has placed a keen focus on Bank Qualified issuers in Texas. Within the last 13 years, his Bank Qualified group has competitively underwritten (mostly sole managed) over 2,300 transactions in municipal debt , with over 600 transactions of those issuers domiciled in Texas. After initially hired at Morgan Keegan in 2005 as an Institutional Portfolio Accountant, Randall became proficient on a wide variety of Fixed Income products. He later moved on to the firm's Asset/Liability group, specializing in depository financial sheet performance and interest rate shock analysis. Utilizing his experience with banks’ portfolio parameters and liquidity needs, Randall applied his knowledge and skillset to both negotiated and competitive new issue underwriting and secondary trading roles in 2008. He received his Bachelor’s degree in Business Administration in Finance from The University of Tennessee at Knoxville and his MBA from the University of Memphis. He currently holds Series 7 and 63 security licenses. Randall and his wife reside in the DFW metropolitan area with their 3 young children.

---

Shawnell Holman

Executive Director

UBS Financial Services Inc. - Public Finance

Shawnell Holman, Executive Director for the UBS Public Finance Department, focuses on municipal financings for issuers across the Southwest region. Ms. Holman has participated in the issuance of over $30 billion of municipal bonds. Prior to joining UBS in 2017, Ms. Holman served as Managing Director of Siebert Williams Shank's Houston office. Ms. Holman also enjoyed a long tenure in the City of Houston Controller's Office, managing the City's multi- billion debt and investment portfolios for nearly a decade. She holds the following industry licenses: Municipal Securities Representative (Series 52), Municipal Securities Principal (Series 53), Municipal Advisor (Series 50) and Uniform State Law (Series 63). A native Houstonian, Ms. Holman earned a BA in Economics and English from Rice University and an MBA from the University of Houston at Victoria. In addition to serving as the President of the Texas chapter of the National Association of Securities Professionals (NASP) from 2012-2017, Ms. Holman is a Leadership Houston alum (Class 35), and currently chairs the Mentoring Committee for Women in Public Finance-(Texas chapter). An active community participant, she previously served on the boards of Project Rowhouse, an arts and life enrichment outreach effort, and Row House Community Development Corporation, an organization focused on providing affordable housing. A lifelong lover of the arts, Ms. Holman currently serves as a Board Advisor for the Theater Under the Stars (TUTS).

---

Derek Honea

Managing Director

RBC Capital Markets

Derek Honea is a Managing Director with RBC Capital Markets. Mr. Honea has been in the Municipal Finance Group of RBC Capital Markets for over 20 years, all of which was in the Dallas office. Mr. Honea has extensive experience providing financial advisory and underwriting services to municipal debt issuers throughout Texas, including school district, higher education, city, county, state, and special district issuers, having worked in a senior banking role on transactions totaling over $13.6 billion. Mr. Honea's responsibilities include providing investment banking services to the firm's clients while playing an advisory role in the analytical and quantitative analyses performed for the firm's issuer clients. Mr. Honea's experience has included all aspects of new money and refunding transactions in both long and short term modes, including virtually all types of security structures as well as certain derivative instruments. Mr. Honea holds a BBA in Finance from The University of Texas at Austin and is a FINRA registered securities representative, currently holding Series 7, 50, 63 and 79 licenses and is a former and current member of the Board of Trustees of the Municipal Advisory Council of Texas.

---

Desrye Morgan

Managing Director

Wells Fargo Securities

Desrye Morgan is a Managing Director with the Southern Public Finance group of Wells Fargo Securities, based in Houston. She is an accomplished lawyer and investment banker with over 21 years of experience, advising and structuring municipal financings for housing, infrastructure, transportation, water and sewer systems and other public benefit projects. Ms. Morgan has served as the lead banker on over $18 billion in financings. At Wells Fargo, Ms. Morgan also serves on the Houston Leadership Reputational Council and the Diversity and Inclusion Council. As a lawyer, her area of practice consisted of public finance, corporate and business transactions with concentration on business acquisitions and regulatory compliance. Ms. Morgan attended the University of Houston earning a Bachelor's of Art degree in Political Science. She went on to earn a Juris Doctorate from South Texas College of Law. Ms. Morgan holds the Series 7, 63 and 53 FINRA registered representative licenses.

---

Robin Redford

Senior Managing Director

Ramirez & Co., Inc.

Robin Redford is a Senior Managing Director at Ramirez & Co., Inc., leading the Texas Group since joining the Firm in 2011. Robin also co-leads the Firm’s national Housing Finance team. Robin has more than 20 years of general markets and specialty underwriting experience beginning in New York City at her prior firms where she specialized in housing finance, including providing financial advisory services to the Texas Department of Housing and Community Affairs and the North Carolina Housing Finance Agency. Prior to entering the public finance field, she lived in Washington, D.C. and worked in the Urban Institute’s Housing Policy Center conducting field research and contributing to publications on a wide variety of topics including Community Development Corporations, non-profit parks organizations and public participation in the arts. Robin is active in, and a founding member of, the Texas Chapter of Women in Public Finance and past president of the Chapter. She is a former board member and executive officer of National Women in Public Finance and chair of its 2019 National Conference. She is a past recipient of the Women’s Bond Club of New York’s “Rising Star” award. Robin has been active in charitable organizations, serving on non-profit boards such as LifeTime Arts and Thomas Cole National Historic Site. Robin is originally from Austin, Texas and played college soccer and post-college select teams, and now continues her love of the sport coaching her sons’ soccer teams. Robin has a BA in both economics and history from Rice University, a Master of Public Affairs from the University of Texas at Austin and holds Series 7, 53 and 63 licenses.

---