The foundations for success we've experienced at Scott Balice rests solely on the minds and shoulders of Scott Balice experts who have served at the highest levels of the finance industry in the widest possible array of arenas.  Because of their broad and deep experiences, we can offer the wealth of knowledge required to address the extraordinary financial challenges and opportunities presented by the evolving economy as it relates to the specific challenges you face.  Our experts can also provide you with innovative, blue-sky thinking because of their solid grounding in the basics.

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Lois Scott co-founded Scott Balice Strategies in 2003 after spending twenty years in the public finance and government sectors where she provided financial advisory and underwriting services to nationally-known clients.  Her innovative financing ideas have been repeatedly recognized for bringing important new ideas to leading governments, earning her a nomination as a White House Fellow where she assisted in addressing the liquidity crisis in Southeast Asia and chaired the management committee of the U.S. Export-Import Bank.

Ms. Scott managed the Midwest public finance offices for DLJ (now Credit Suisse) as well as Bank of America.  She has participated in over $50 billion of bond transactions encompassing transportation, water, sewer, general government, economic development, convention and sports facilities, health care, K-12 school systems, higher education, non-profit organizations and energy projects. Her diverse range of experience encompasses virtually every type of bond used by governments, the entire spectrum of credit qualities and issuance sizes.  In recent years, she has steered the firm into the emerging field of public-private partnership (P3) finance, advising and guiding governments on P3 opportunities and providing the rigorous quantitative and policy analysis that P3 dictates.

Ms. Scott has served on the board for several privately held companies as well as numerous charitable organizations including the White House Fellows Foundation, Better Government Association and Children’s Memorial Hospital.

Ms. Scott earned a Bachelor of Science in Labor Economics and a Master’s of Business Administration in Finance from Cornell University.

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Dean Balice, a co-founder of Scott Balice Strategies, has over thirty years of business experience within corporate finance, public sector and project management.  Mr. Balice has extensive experience with bankruptcy finance and financial workout/restructuring transactions.

Prior to Scott Balice, he served as Senior Advisor to Wilhelm and Conlon Public Strategies, where he provided financial advisory services to both for-profit and non-profit companies.  In 1999, Mr. Balice co-founded the Succession Fund, created to provide counsel to small family businesses facing succession issues.

Mr. Balice has provided leadership for several financial institutions nationwide.  He led the National Banking Group for Crédit Agricole, where he managed corporate business, structured finance and private equity investment activities for the U.S. head office.  He built and directed a $10 billion client portfolio comprised of traditional, leveraged and international financial commitments and served as a member of the U.S. Executive Committee, U.S. Credit Committee, Asset and Liability Management Committee and Pension and Benefits Committee.  Additionally, Mr. Balice organized and managed a new department for Société Genérale consolidating all aspects of loan workout and asset recovery for U.S. commercial operations.

A proponent of hard work, hard play and building relationships, Mr. Balice is currently a member of the University Club of Chicago and the Chicago Club.

Mr. Balice earned a Bachelor of Arts in Philosophy and Political Economy from Marietta College and a Master’s in International Affairs from the Graduate School of International Affairs at Ohio University.

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Tim Carden has pioneered innovative financial structures for public agencies and governments throughout his thirty year career in both the public and private sectors.  At Scott Balice, he specializes in structured finance, lease financing, privatization finance and policy development.  Prior to Scott Balice, Mr. Carden served on the project management team for the Chancellor of the New York City schools and was responsible for the restructuring of the Department's administration, redirecting hundreds of millions of dollars from central office use into schools and classrooms.

For the State of New Jersey, he assisted the Commission of Transportation, served as Cabinet Secretary to the Governor of the State and was appointed Commissioner of Human Services.  He remains a gubernatorial appointee to the board of the New Jersey Economic Development Authority, and serves on the boards of the Association for Children of New Jersey and the New Jersey Conservation Foundation.

In the 1980s & 1990s, Mr. Carden was a public finance banker at Kidder, Peabody & Company and subsequently at Donaldson, Lufkin & Jenrette.  In 1996, he established his own advisory practice.

Mr. Carden earned his Bachelor of Arts from Harvard University.

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Tom Morsch brings more than twenty-five years of experience in the development, operation, finance and privatization of transportation infrastructure to Scott Balice's public-private partnerships (P3) practice.  He also offers experience gained as a government official and as a principal and advisor to private sector investors.

Mr. Morsch has served in high-level positions with the Governor’s Office of the State of Illinois.  He was Executive Director of the Illinois State Toll Highway Authority, founder and President of Intelligent Traffic Systems, and was a Senior Vice President for the insurance and consulting units of the Marsh and McLennan Companies.  Throughout his career, he has been involved in numerous public, project-based, and private financings in the toll road, transit and real estate industries.  Mr. Morsch has also played a leadership role on numerous boards and associations, the Housing Trust in Lake Forest, Illinois, Metropolitan Planning Council in Chicago.

Mr. Morsch earned his Bachelor of Arts in English from Beloit College.

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Rusty Saylor leads the firm’s practice in Education Finance.  He brings more than twenty years of experience in both Taxable and Tax-Exempt Fixed Income Finance as well as a strong background in Structured Finance.  Mr. Saylor has developed market leading structured finance businesses at two financial institutions during his career and continues to provide strategic and financial advice to many of the leading student loan Issuers.

Prior to joining Scott Balice, Mr. Saylor was Managing Director and Head of the Education Finance Group within Citigroup’s Global Securitized Markets division, where he lead a group that provided over $18 billion of annual warehousing facilities to the student loan industry, and served as Lead Manager on over $12 billion of annual Fixed Income securities.  During his time at Citigroup, he developed the first large-scale private loan warehousing facilities, funded through the issuance of commercial paper and provided innovative tax-exempt issuances for not-for profit lenders to finance the floating rate student loans with fixed rate tax-exempt proceeds.

Mr. Saylor was Managing Director and Head of the structured finance group at PNC Bank prior to joining Citigroup, where he worked with corporate and insurance related industries.  Prior to PNC he was a Vice President at CS First Boston in the structured finance group specializing in transportation and student loan companies.

Mr. Saylor earned his Bachelor of Arts in Humanities and Economics from Davidson College, an MM with honors from the University of Southern California, an Master’s of Business Administration from the Darden School of the University of Virginia, and was a Hesse Scholar at the Britten-Pears School for Advanced Study in England.

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Julia Harris is a key resource in the development of privatization strategies and also heads up the firm’s Higher Education and Health Care practice.  She brings a combination of Wall Street investment banking, rating agency and governmental experience to Scott Balice Strategies.

Prior to Scott Balice, Ms. Harris served on Chicago Mayor Richard Daley’s staff, focusing her efforts on departmental reorganizations and downsizing, service privatization and managerial efficiencies.  She was a key player on the Goldman Sachs’ higher education and health care investment banking team and has provided investment banking services to a wide variety of health care and higher education institutions.  Ms. Harris helped open the Midwest office of Moody’s Investors Service.

Ms. Harris earned her Bachelor of Arts from the University of Illinois, where she graduated Magna Cum Laude and Phi Beta Kappa, a Master’s in International Relations from the London School of Economics and a Master’s in Public Policy from Harvard University Kennedy School of Government.

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Marty Luby’s primary focus at Scott Balice Strategies is on financial strategic projects including modeling and structuring capital finance programs, pricing bond and derivative transactions, authoring debt and swap policies and addressing the public policy implications of emerging finance techniques and public-private partnership (P3) transactions.  He offers the experience of twelve years in the public finance industry, including service to state and local government entities as a financial and swap advisor, investment banker and arbitrage consultant.  Mr. Luby also served as a public finance analyst at Bear Stearns and tax specialist at Chapman and Cutler.  He is a published author on state and local government financial policy and a distinguished speaker on public policy implications of financing strategies.

Mr. Luby earned his Bachelor in Science in Finance from DePaul University and his Master’s in Public Affairs and Politics from Rutgers.  He is currently a Ph.D. candidate at Indiana University’s School of Public and Environmental Affairs concentrating in the areas of public finance and public management.

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Debra Schnebel, Senior Vice President and head of the firm’s Anchorage office and energy initiative, has over thirty years of finance experience in the public and private sectors.  Ms. Schnebel works with clients to develop and implement financial strategies by identifying and evaluating funding and financing options, analyzing risks, conducting cost-benefit analyses and designing and executing finance plans.

Prior to Scott Balice Strategies, Ms. Schnebel was a partner at Jones Day as well as Gardner, Carton & Douglas. Ms. Schnebel also served as a Vice President of PaineWebber Inc.  She began her distinguished career at the U.S. Securities and Exchange Commission, focusing on the regulation of the operations of broker-dealers, investment companies and investment advisers.

Ms. Schnebel holds professional affiliations with the Advisory Working Group for the Alaska Railbelt Electrical Grid Authority, the Chicago Finance Exchange and the Board of Directors for CCS Early Learning in the Head Start program.

Ms. Schnebel earned a Bachelor of Arts from Allegheny College, a Juris Doctor from Northwestern University and a Masters of Business Administration from the University of Chicago.

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Phoebe Selden heads up the firm’s Transportation Group, with over 24 years of government and public finance experience, is a recognized as a local government finance expert.  Ms. Selden has focused her career on developing innovative financial plan and rating agency strategies.  She has completed over $16.0 billion of bond financings.

Ms. Selden began her career at Ernst & Young, serving public sector clients such as the Chicago Transit Authority, Illinois Toll Highway Authority, various suburban municipalities and the states of Illinois and Wisconsin, along with numerous commercial and M&A/LBO assignments.  She was Comptroller for the City of Chicago where she had responsibility for the City’s $5 billion financial operations and led financings for O’Hare and Midway Airports, Sewer and Water and the Chicago Skyway.  Before joining Scott Balice, Ms. Selden launched and led the Chicago office of Moody’s Investors Service.

Ms. Selden is currently a member of the Government Finance Officers Association’s (GFOA) Committee on Governmental Debt Management.

Ms. Selden earned a Bachelor of Science in Accounting from DePaul University.

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Claire Goodman serves as the firm’s lead economist, conducting both qualitative and quantitative analysis.  As an economist skilled in evaluating the capital markets, she offers a keen understanding of both market dynamics and credit fundamentals and added expertise in debt structuring, cash flow modeling, rating agency strategy, post-employment benefit analysis, and structuring and privatization analysis and valuation.  Ms. Goodman has designed detailed cash flow models, performed refunding analyses and is a published author in game theory, risk management and market competition.  She is the sole author of Scott Balice Strategies’ Weekly Market Commentary that is distributed to hundreds of government leaders around the world and prepares detailed local and regional economic analysis for select clients.

Prior to Scott Balice, Ms. Goodman performed strategic planning for numerous non-profit entities and taught and conducted economic research at the University of Georgia Terry College of Business.

Ms. Goodman earned her Bachelor of Arts from the University of Lethbridge in Canada and her Master’s in Economics from the University of Georgia.

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Kevin Hoecker is Head of Derivatives and serves as lead on several Scott Balice accounts. Kevin analyzes, structures and executes bond and derivative transactions, develops complex financial models and conducts industry and product research.  Pleased clients include, the State of Illinois, the Illinois Tollway, Alaska Railroad, the State of Tennessee, DeKalb County, New Jersey Higher Education Student Assistance Authority and the Chicago Transit Authority.

Mr. Hoecker brings valuable investment banking experience to the firm having worked for JP Morgan Investment Bank in their public finance department and for ABN AMRO Financial Services, Inc.’s public finance department.

Kevin earned his Bachelor of Science in Finance from DePaul University, completed graduate level coursework in Economics from the University of Chicago and his Master’s in Business Administration from the Ross School of Business at the University of Michigan.

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At Scott Balice is spearheading the firm’s expansion into the Mid-Atlantic and Northeast regions.  Ms. Holiday works in our New York and Ohio offices consulting with a wide range of clients in the transportation, alternative finance, public-private partnership (P3), and general government fields.  Clients include the City of Baltimore, the Port Authority of New York and New Jersey, New Jersey Transit and the States of New York, New Jersey and Ohio, among others.

Prior to Scott Balice, Ms. Holiday worked for Goldman Sachs Municipal Finance group.  She also worked with a number of governmental, political, and urban development organizations and has been a leader in affordable housing and economic development projects in New Orleans, Providence, San Diego and Cleveland.

Ms. Holiday earned a Bachelor of Arts in History and a Bachelor of Science in Political Science from Xavier University (OH) and a Master’s of Public Policy with a concentration in public finance and urban development from Harvard University Kennedy School of Government.  Ms. Holiday is Series 7 and 63 NASD securities certified.

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To our strategic financial advisory services, Carol Howarth brings over fifteen years of private sector experience in the U.S. and Europe.  She incorporates rigorous analytics into the development and evaluation of strategic and business plans—whether they are for new products and market entry or for business expansion.  She works to link key operating drivers with financial measurement techniques that help quantify risk and performance for better evaluation.

Ms. Howarth’s background includes five years teaching undergraduate and graduate level finance at the University of Alaska Anchorage.  She has been a valued management consultant both independently and with global companies.

Ms. Howarth earned her Bachelor of Arts from Whitman College and her Master’s in Business Administration from the University of Chicago.

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Brian LePenske brings over seven years of experience in the public finance industry to Scott Balice Strategies.  Mr. LePenske specializes in performing detailed financial analysis and creating detailed debt and valuation models in support of bond and derivative market transactions, as well as privatization valuation.

Mr. LePenske's contributions to each client vary from cash flow modeling, bond sizing, credit analysis, deal negotiation, pricing analysis, tax analysis and market review.  Mr. LePenske has been deeply involved in bond transaction execution for issuers including the RTA, Illinois Tollway and Metropolitan Water Reclamation District of Greater Chicago; financial strategy assignments for government entities such as the Illinois Sports Facilities Authority and Metropolitan Pier and Exposition Authority; and public-private partnerships where he was heavily involved in the long-term management of the concession sale of the Illinois Lottery. 

Prior to joining Scott Balice, Mr. LePenske worked at Chapman & Cutler where he provided post-issuance tax compliance services, particularly arbitrage rebate calculations.  Through his work he minimized rebate liability for government issuers by analyzing the investment income and cash flow of tax-exempt bond proceeds for issuers, including the State of Illinois, Illinois Tollway and City of Cleveland.

Mr. LePenske earned a Bachelor of Arts in Finance, Investment Banking and Risk Management and Insurance from the University of Wisconsin-Madison.

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Shannon Williams specializes in quantitative and qualitative research, financial analysis and rating agency strategy for governmental and non-profit clients.  She is valued at Scott Balice and by our clients for her deep understanding of policy, economic and financial issues, specifically at the state and federal level.

Prior to Scott Balice, Ms. Williams gained experience in corporate restructuring, workout and bankruptcy planning, negotiation and litigation at Kirkland & Ellis LLP in the Restructuring Group.  She held key positions with the Governor of Illinois and a national investment bank.

Ms. Williams earned a Bachelor of Arts and Sciences in Political Science, French and Communication from the University of Pittsburgh and Northwestern University and a Master’s of Public Policy from the University of Chicago.

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Justin Faurer specializes in qualitative, quantitative and economic research with a particular focus on debt issues and public-private partnerships.  His work has covered clients in a variety of public finance sectors, including aviation, surface transportation and non-profit organizations in Illinois, Colorado, California, Indiana, Maryland and Maine.  He has modeled complex debt structures using state-of-the-art analytic tools and developed models for assisting governments set fee for service rates.

Mr. Faurer earned a Bachelor of Arts in Economics from Bates College and studied international finance at the University of Sussex in Brighton, United Kingdom. He is a competitive skier and ski instructor.

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Rob Palutsis plays a key role in transaction support, debt analysis and project logistics for government clients nationwide.  He is instrumental in synthesizing extensive amounts of data and converting it into information that facilitates clear decision making.  Rob’s work is fuelled by his academic credentials in quantitative methods for business and finance.

Prior to Scott Balice, Mr. Palutsis worked in the real estate and asset management industry, developing budgets and financial analysis of residential and commercial properties.

Mr. Palutsis was Captain and MVP of his college soccer team, studying and playing at Rhodes College, Lake Forest College and in Namibia, Africa.

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Jessica is the most recent addition to Scott Balice Strategies, working on a variety of special projects for corporate and governmental clients.  She brings with her over 10 years of administrative, managerial and planning experience from positions held with venture capital, city government, entrepreneurial, non-profit and community–based agencies.

Ms. Carter started her career in the non-profit sector, specializing in organizations assisting people with disabilities led her to positions with San Francisco State University and the city of Foster City, CA.  Since returning to Chicago, she worked in the venture capital industry, including positions with Midwest Venture Partners, Hopewell Ventures and TiE Midwest, a division of the global organization TiE (The International Entrepreneurs).

Ms. Carter earned a Bachelor of Science from Grand Valley State.