Roger P. Nye, President
Global Investment Advisors, Inc.
Carlsbad, California 92008 USA
Roger P. Nye
Mr. Nye is President of Global Investment Advisors, Inc. (GIA), a capital markets consulting firm which he founded
in 1991. Prior to that, he worked for five years at Moody’s Investors Service in New York as a Senior Analyst in the
Financial Institutions Group, assessing the creditworthiness of government borrowers and banks and assigning credit ratings.
Previously, he headed the International Evaluation department at Atlantic Richfield Company in Los Angeles and was
responsible for evaluating all foreign investment projects for the petroleum company from the standpoint of country risk.
He also supervised a staff devoted to global intelligence and strategic planning.
His years of teaching and consulting
include assignments with Republic National Bank of New York, Monsanto Company, Burns Fry Ltd. and Smith Barney Shearson. Mr.
Nye has published more than three dozen articles and books on investment and ratings-related topics encompassing the Middle
East, Africa, and Asia. He writes and publishes the monthly GIA Bulletin and GIA’s series of Occasional Papers. His
book Understand and Managing the Rating Agencies will be published in 2014.
He has addressed numerous
public and private forums on issues involving direct and fixed-income investment. His degrees include a Ph.D. in international
relations from Washington University and a B.A. in political science from Williams College. Postdoctoral courses in international
trade and finance were completed at the University of Southern California and at New York University.
His latest book, Understanding and Managing the Credit Rating Agencies: A Guide
for Fixed Income Issuers, was published by Euromoney Books in March 2014.
Jonathan L. Golin
Mr. Golin is the managing director of
Independent Company Research, a London-based financial research consultancy he founded to provide independent bank credit
research, as well as related consulting and training services. Clients of the firm have included European and US banks.
Formerly, Mr. Golin was Vice President at Thomson BankWatch in Hong Kong responsible for several Asian markets and
for managing a local rating agency, Thomson Rating Philippines, a joint venture between BankWatch and the IFC. His financial
and research roles included affiliations with the Economist Intelligence Unit and a Hong Kong-based proprietary trading subsidiary
of a major Japanese bank.
Trained as an attorney, Mr. Golin was associated with law firms in the United States
and in Japan before entering the financial industry. He has authored three books, contributed to several others as a general
editor, and has published articles in a number of professional journals. His most recent publication is The Bank Credit Analysis
Handbook: A Guide for Analysts, Bankers and Investors. Mr. Golin is a graduate of the University of California at Berkeley
and of the Harvard Law School.
Thomas B. Harker
Mr. Harker is a career financial professional
with expertise in corporate finance. He managed the Industrial Group at Fitch for fifteen years with responsibility
for all U.S. and international industrial ratings. During that period he also launched a new credit rating agency in
London. Mr. Harker developed rating criteria for private placement and bank syndicated loan ratings. He has spoken at
numerous financial seminars and conferences. After leaving Fitch, Mr. Harker founded an investment banking firm in the U.S.
and has worked in Korea and Poland on capital markets related activities.
Mr. Harker has an MBA in Finance from
Indiana University and is a Chartered Financial Analyst.
Steven H. Hochman
Mr. Hochman is a credit markets professional
with broad knowledge of public sector credit analysis, debt issuance and local government finance in the US and internationally.
He now serves as a Government Debt Advisor with the US Treasury Department’s Office of Technical Assistance, providing
assistance to ministries of finance, central banks and financial institutions in Eastern Europe, Africa, Latin America and
Asia on public finance and debt management matters.
Previously, he was Chief Sub-Sovereign Credit Officer at Moody’s
Investors Service, where he was responsible for ensuring global ratings consistency in the International Sub-Sovereign Group.
Earlier, Mr. Hochman worked with Moody’s U.S. Public Finance Group, having served as Assistant Director of State Ratings.
Mr. Hochman worked at Moody’s from 1980 until January 2008. He conducted credit research on state and
local governments in the US, Mexico, Argentina, Canada and Japan, developed rating methodologies for local/regional governments,
chaired rating committees, conducted analyst training, and spoke on public finance topics at conferences around the world.
Before joining Moody’s, Mr. Hochman was an analyst and team leader with New York City’s Legislative Office
of Budget Review. Steve received his M.A. in Economics from Brown University and holds a B.A. in Politics from Brandeis
University. He is fluent in Spanish.
Mahesh K. Kotecha
Mr. Kotecha is President and founder of
Structured Credit International Corp., which provides financial advisory services on credit ratings and securitization for
clients in Asia. Prior to that, he was Managing Director of MBIA Insurance Corporation. He came to CapMAC
in 1989 from Kidder, Peabody, where he led the firm into the UK mortgage backed securities markets, structured the first public
collateralized bond obligation and advised the International Finance Corporation and Turkey on capital markets issues.
While working at Standard & Poor's Corporation, Mahesh founded and headed the department responsible for international
public sector ratings. Prior to 1979, Mr. Kotecha worked at the New York Fed and at the United Nations Development Program.
Mahesh holds a Master's degree in management from the Sloan School of Management at MIT and a Bachelor's degree in
physics and engineering from Harvey Mudd College. He completed all requirements for a PHD at the N.Y.U. Stern School of Business
in international finance and economics, except the dissertation. Mr. Kotecha is a Chartered Financial Analyst, a member
of the Council on Foreign Relations and a member of the International Advisory Panel of the East African Development Bank.
J. Michael McMullen
Mr. McMullen is the founder and President
of Enterprise Capital, Inc., a merchant banking and financial consulting firm. He spent twenty-four years at Moody's Investors
Service, retiring in 1992 as Vice President, Financial Institutions.
While at Moody’s, Mr. McMullen developed
the analytical methodology that Moody’s employs in rating banks and other financial institutions, and headed rating
committees that decided on bank ratings in Europe and Scandinavia, Japan, Australia and New Zealand. He oversaw the development
of Moody’s bank rating statistical data base and also developed the analytical methodology for the mortgage banking
Mr. McMullen has worked overseas for fourteen years:
(a) In Japan where he was Executive Vice President
and resident executive of Moody’s in Tokyo;
(b) In Poland where he helped establish and manage Poland’s first
domestic credit rating agency, Central European Rating Agency;
(c) In Korea where he served as president of Thomson BankWatch
(d) In Bangladesh where he served as CEO of the Credit Bridge and Standby Facility, helped reform the
mutual fund industry, and organized securitization training;
(e) In Bahrain where he is currently training new analysts
at the Islamic International Rating Agency.
Mr. McMullen is a highly experienced executive specializing in capital
market fundamentals and credit rating agency development. He established three bond market rating agencies, designed
and taught seminars on structured finance, rating agency analysis, the formation of insurance companies, and the characteristics
of sound capital markets.
Mr. McMullen graduated cum laude from Pace University in New York and completed his
Master of Science degree at the Columbia University Graduate School of Business.
S. Melvin Rines
Mr. Rines, a former Senior Vice President
and Managing Director of Kidder, Peabody, has broad investment banking experience in public, corporate and international finance.
He is a specialist in the financing of sovereign and supranational credits. He has served as a financial advisor to sovereigns
and international financial institutions and was active in privatizations and restructurings.
Mr. Rines is an expert
on international credit analysis and rating agency relations. He worked extensively with the African Development Bank to develop
an innovative capital structure that made triple A ratings possible. Mr. Rines also assisted the International Finance Corporation
in its initial credit rating request and achieved AAA/Aaa ratings.
Mr. Rines has testified before the House Banking
Committee of the U.S. Congress on numerous occasions with respect to U.S. support of the IMF, the World Bank, the Inter-American
Development Bank, and the IFC. He has also testified before the Joint Economic Committee of Congress on economic and legal
issues related to China's reform process, published articles on China's debt management, and addressed the Asia Society on
China's external financing strategy.
As an adjunct professor at American University in Washington D.C., Mr. Rines
taught a graduate level course on international capital markets and lectured at the University of International Business and
Economics in Beijing, China. He was co-editor and contributing author of the book The Supranationals (Euromoney, 1986). Mr.
Rines remains actively involved in international finance as an adjunct professor of International Business and Finance at
the University of New Hampshire. His educational background includes a B.A. at the University of New Hampshire.
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