Investor Roundtable
Nicolo Pinoli
Partner
Novogradac & Company LLP
Nicolo Pinoli is a partner in the Portland, Ore., office of Novogradac & Company LLP, where he specializes in affordable housing and community development, including the low-income housing tax credit (LIHTC), new markets tax credit (NMTC), historic rehabilitation tax credit (HTC) and tax-exempt bond financed transactions. Mr. Pinoli has extensive experience in financial statement audits, tax return preparation, transaction underwriting and consulting on transaction structuring and LIHTC and NMTC compliance. He has published many articles on various technical issues confronting the affordable housing and community development industries. Mr. Pinoli received a bachelor’s degree in accounting and a master’s degree in professional accounting from Brigham Young University and is licensed in California, Oregon and Washington as a certified public accountant.
Maria Bustria-Glickman
Business Development Officer
U.S. Bancorp Community Development Corporation
Maria Bustria-Glickman manages new markets tax credit (NMTC) and historic tax credit (HTC) origination activities throughout the Western region of the United States. She has more than 13 years of combined experience in finance, affordable housing and management consulting in the private and nonprofit sectors. Since joining U.S. Bancorp Community Development Corporation (USBCDC) in 2007, Ms. Bustria-Glickman has participated in tax credit transactions that have included mixed-use, commercial, office, hospitality, retail and community facilities. Earlier in her career, she worked for Seedco, a community development intermediary, and JP Morgan. She’s interested in experiences that blend economic gains with positive social and community impacts. Ms. Bustria-Glickman serves on the board of Endeavor College Prep, a charter middle school, and Abode Communities. She also sits on the Low Income Investment Fund Western Region Advisory Committee. Ms. Bustria-Glickman holds a master’s degree in public policy and administration from the School of International and Public Affairs at Columbia University and a bachelor’s degree in finance and accounting from Boston College.
Brad Calloway
Executive Vice President & Tax Credits Manager
First NBC Bank
Brad Calloway is an executive vice president and tax credits manager at First NBC Bank. Through this position, he leads the tax credit programs for First NBC Bank, which includes origination and structuring investments in new markets tax credits (NMTCs), historic tax credit (HTCs) and low-income housing tax credits (LIHTCs). His responsibilities include leverage lending and equity investments in addition to providing NMTC allocations through the First NBC Community Development Fund LLC, First NBC Bank’s community development entity. Since 2009, First NBC Bank has initiated and invested approximately $250 million in tax credit investments, involving 101 different project developments exceeding $800 million with primary emphasis on HTCs and NMTCs. Mr. Calloway has been responsible for the application, award and placement of the First NBC Community Development Fund’s allocations totaling $118 million. Mr. Calloway has extensive experience in twinning multiple funding sources including not only federal and state historic and NMTCs, but also Community Development Block Grant (CDBG) funds, tax-free bond issuances and special purpose grants and funding sources. Mr. Calloway completed a bachelor’s degree from Mississippi State University and completed the CPA certification process in Mississippi. His previous work experience includes financial auditing for Arthur Andersen & Co. before beginning his banking career focused on commercial lending and tax credit financing.
Spencer Gagnet
Managing Director and Manager of the Public Finance Department
Capital One Bank
Mr. Gagnet has more than 32 years of experience in the financial sector, including 30 in banking and finance. Mr. Gagnet is a managingdirector and manager of the public finance department, housed within the Capital Market’s team at Capital One. His team is responsible for the management of all New Market Tax Credit (NMTC) investment activities (investor, CDE, leveraged lender, asset management), as well as management of Capital One’s alternative energy investment business. Previously, Mr. Gagnet managed the oil and gas specialty lending department for seven years at Hibernia National Bank, prior to its acquisition by Capital One in 2005. Prior to that, Mr. Gagnet managed Hibernia’s debt capital markets department, focused on interest rate derivatives and private debt placements. Mr. Gagnet holds a bachelor’s degree in finance from Louisiana State University, and a master’s in business administration from Tulane University’s A. B. Freeman School of Business.
En Jung Kim
Vice President
Chase
En Jung Kim is vice president of community development banking, New Markets Tax Credit (NMTC) Group at Chase Bank, where she is primarily responsible for the origination, deal structuring and closing of NMTC investments in the Eastern region. Before joining Chase, Ms. Kim was acquisition manager at National Equity Fund Inc., where she supported the placement and management of NMTC activities of the Local Initiatives Support Corporation (LISC) since 2004. Established in 1979 by the Ford Foundation, LISC is a national nonprofit organization that provides grants and loans to support community development in low-income communities. Previously, she worked as an associate in the global technology group at the investment banking division of Lehman Brothers, where she performed valuation and financial analyses and participated in the execution of various types of transactions, including equity offerings and mergers and acquisitions. Additionally, she worked in Seoul, South Korea, in the global financial services group at Lehman Brothers. Ms. Kim has bachelor’s degrees in international relations and economics from the Wharton School of Business at the University of Pennsylvania.
Mary A. Thompson
Senior Vice President
Bank of America Merrill Lynch
Mary Thompson is a senior vice president and senior equity originator in the tax credit investment group at Bank of America Merrill Lynch. Based in Boston, Ms. Thompson is responsible for originating, structuring and closing new markets tax credit (NMTC) and historic tax credit (HTC) investments nationally with a focus on originating investments in the Eastern region of the United States. She has worked for Bank of America and its predecessor entities since 1994 in various real estate groups. Her experience includes commercial real estate lending, portfolio management and the managing and disposition of an other real estate owned (OREO) portfolio. In 2004, she joined Bank of America’s community development banking group as a credit products officer, specializing in NMTC debt underwriting. She joined the tax credit origination group in October 2010. Before joining Bank of America, Ms. Thompson worked for several residential real estate companies managing new homes sales and corporate-owned homes. She has a bachelor’s degree from Providence College.