Columbia Capital's Staff Team


	Dennis W. Lloyd	Mr. Lloyd is co-founder and Managing Director of Columbia Capital Management. In addition, Mr. Lloyd leads the firm's Housing Finance Group that specializes in financial advisory services on single and multi-family housing revenue bonds for state and local issuers. Mr. Lloyd began his career in the municipal finance industry in 1981. Since then he has executed a large variety of transactions, including single and multi-family housing bonds, refundings, restructurings, temporary notes, asset sales, variable rate demand bonds, grantor trusts, swaps and other derivative activities. His accomplishments include managing a series of transactions resulting in cash savings to the City of Chicago of more than $25 million, establishing the financing structure and bond covenants for the City of Topeka, Kansas, Water and Wastewater Utility System, implementing an interest rate lock hedging program for the Kansas Turnpike Authority, educating a number of issuers regarding the disadvantages of premium callable bonds, and creating the first privately administered statewide mortgage credit certificate program in the country. Mr. Lloyd's experience is unusual for the breadth and variety of the transactions he has executed. His background includes the development of innovative financing concepts, as well as the origination and execution of transactions. Mr. Lloyd has provided advice on complex transactions for a number of large issuers, including: the Birmingham Water Works Board; City of Chicago; the Kansas Development Finance Authority; the Kansas Turnpike Authority; the Missouri Housing Development Commission; the State of Missouri; Kansas City, Missouri; Prince Georges County, Maryland, Housing Finance Authority; Topeka, Kansas; and St. Louis, Missouri. Previously, Mr. Lloyd was Senior Vice President and Manager of Midwest Public Finance for George K. Baum & Company. He is also an attorney and applies that background in providing financial advisory services to clients. Prior to joining George K. Baum & Company, he was employed by law firms specializing in the issuance of municipal bonds. Mr. Lloyd holds a B.S. in Economics and J.D. from the University of Kansas.

	Michael M. McMahon	Mr. McMahon is Executive Vice President of Columbia Capital Management, joining the firm in 2004. Mr. McMahon has years of experience and expertise in the finance industry. He has spent his entire professional career in municipal finance as an investment banker for fifteen (15) years and operated MG McMahon & Co., an independent financial advisory firm, since 1989. In April 1999 MG McMahon & Co. merged with CSG Advisors Incorporated making Mr. McMahon a Senior Financial Advisor with the firm. Mr. McMahon left CSG Advisors to join Columbia Capital in order to better serve his clients. Mr. McMahon has served as financial advisor on over 95 transactions aggregating in excess of $2.5 billion in bonds. Mr. McMahon has acted as senior manager on numerous financings throughout the country from which he has developed an in-depth knowledge of the underwriting, sale, trading and distribution of municipal securities to both the institutional as well as the retail segments of the municipal bond market. From 1977 through 1988, Mr. McMahon was an investment banker for Lehman Brothers (and its predecessors), a national investment banking/brokerage firm as a Senior Vice President and Regional Manager. Prior to joining Lehman Brothers, from 1973-1977 Mr. McMahon was a Vice President responsible for underwriting and financial advisory activities for a Kansas City based investment banking firm which specialized in the underwriting, trading and sale of municipal bonds for Missouri local governmental units. Mr. McMahon's prior experience as a senior vice president of a major national investment banking firm allows him to offer invaluable advice in the selection, structuring and implementation process of negotiated or competitive sale of municipal bonds with national, regional and local investment and commercial banking firms. During Mr. McMahon's public finance career he has worked on housing financings with several state as well as local housing finance agencies and municipal issuers. Mr. McMahon received his Bachelor of Science, Business Administration with a dual emphasis in accounting and finance from the University of Missouri graduating with honors in 1971.

	Randy S. McPhail	Mr. McPhail joined Columbia Capital Management in 2000 as a Senior Vice President and provides professional assistance to our clients in both the financial and investment advisory arenas. Prior to joining Columbia Capital Management Mr. McPhail was a Vice President and Corporate Trust Officer for UMB Bank, N.A. and has ten years of corporate trust experience. Mr. McPhail administered corporate trust portfolios with $500,000 to $100,000,000 in assets. His corporate trust administration responsibilities included carefully reviewing trust documents, forward delivery agreements and guaranteed investment contracts. He also worked with issuers to invest bond proceeds in order to maximize their earnings potential. The bond issues Mr. McPhail administered had an outstanding principal balance of over $1.7 billion. Mr. McPhail managed accounts for several large issuers, including: St. Louis, Missouri; Bi-State Development Agency; National Benevolent Association; Saint Louis University; and Washington University. In addition, he managed a large group of health care related issues. Mr. McPhail's responsibilities include the bidding and review of guaranteed investment contracts, forward delivery agreements and escrow defeasance portfolios. Mr. McPhail currently solicits guaranteed investment contracts and forward delivery agreements for the Missouri Housing Development Commission, the Environmental Improvement and Energy Resources Authority of the State of Missouri, and the City of St. Louis, Missouri. Mr. McPhail also assists in providing financial advice to a number of Columbia Capital's clients, including the Housing Authority of Prince Georges County, Maryland, the Office of the Treasurer for the City of St. Louis, and the City of Aurora, Illinois. Mr. McPhail holds a BS in Personnel Administration from the University of Kansas.

	Kelsi M. Powell	Ms. Powell is First Vice President of Columbia Capital Management, working from its Kansas City office. Ms. Powell joined Columbia Capital Management in 2004 and provides professional assistance to the firm's clients in both its financial and investment advisory activities. Ms. Powell has extensive experience in financial modeling and quantitative analysis. Prior to joining Columbia Capital Management, Ms. Powell was a financial advisor for a national financial advisory firm where she developed financial models and conducted cash flow analysis for a variety of debt transactions. In South Dakota she worked for the Department of Revenue on the development and progress of the National Streamlined Sales Tax Project. Among her accomplishments, Ms. Powell developed a model of future potential retirement liabilities for a large Kansas city related to the impacts of its contractual obligations for certain employee groups on its payments to the state retirement system. She also authored a cost/benefit model for a community demonstrating the net fiscal impact of property tax abatements on city, county and school district governments. Ms. Powell holds a BS in Business Administration in Economics from the University of South Dakota. Her undergraduate thesis consisted of creating a model capable of examining subnational tax structures and their impact on corporate returns. She presented this research at several national conferences. Ms. Powell has completed one year of coursework toward a Ph.D. in Economics at the University of Kansas.

	Jeff T. White	Mr. White is a Senior Vice President of Columbia Capital Management working from its Kansas City office. Prior to joining Columbia Capital in 2001, Mr. White spent more than a decade as a local government management practitioner. As a city manager, assistant city manager, department head, and budget director in cities from 14,000 to 124,000 in population, Mr. White became very familiar with the financial needs of local governments as debt issuers and investors. As public works director responsible for transportation, building inspection, engineering, parking and water utilities (water, wastewater, and stormwater), he managed annual operating budgets of nearly $55 million and capital programs exceeding $150 million. He enjoys bringing his passion for public service and an understanding of the business of local government to Columbia Capital's clients. Among his accomplishments, Mr. White led the effort to develop the plan of finance and legal structure for the financing of the replacement of a major bridge in Topeka, Kansas, using a new credit based upon a portion of a county-wide sales tax. Additionally, Mr. White led Columbia's efforts as sole financial advisor to the Chicago Housing Authority's $268 million Series 2006 Capital Program Revenue Refunding Bonds, the first refunding completed under HUD's capital fund financing program. Mr. White holds an AB in Political Science from the University of Michigan and an MPA in Local Government Management from the University of Kansas.

	Kevin B. Wickliffe	Mr. Wickliffe joined Columbia Capital Management in 1998 and serves as Senior Vice President. Mr. Wickliffe provides professional assistance to our clients in both the financial and investment advisory arenas. Mr. Wickliffe is a Registered Investment Advisor Representative and is primarily responsible for the investment management, reporting and accounting for Columbia Capital Management's investment advisory clients. Prior to joining Columbia Capital Management, Mr. Wickliffe practiced law for 12 years primarily in the areas of general corporate law, municipal finance and real estate. Mr. Wickliffe's corporate and real estate practice included development and construction of commercial and multi-family residential projects, federal and state income taxation, formation of various business entities and HUD and FDIC compliance. His public finance experiences consist of serving as bond counsel on a variety of transactions, including utility revenue bonds, general obligation bonds and refunding transactions. Mr. Wickliffe holds a B.S. in Business Administration, a Juris Doctorate and a Masters of Business Administration from the University of Kansas.

	Leslie F. Bond, Jr.	Prior to founding Columbia Capital, Mr. Bond held senior positions in both government and the investment banking industry. He served as Deputy General Counsel for the Metropolitan Pier and Exposition Authority of Chicago, with responsibility for the development and financing of the $1 billion McCormick Place Expansion project and the $500 million renovation of Navy Pier. Subsequently, he served as General Counsel to the Comptroller of the City of St. Louis, with additional responsibilities as Fiscal Manager of External Finance. He directed the City’s financing activities for the TWA Dome, Kiel Center and Lambert International Airport. Mr. Bond developed an extensive and detailed knowledge of the City of St. Louis, including its financing issues and programs. Following Mr. Bond’s service in government he became Vice President of Public Finance for George K. Baum & Company. As an investment banker, Mr. Bond focused in the areas of infrastructure and lease revenue finance for large urban issuers and the State of Missouri. Mr. Bond is a licensed attorney in Illinois and Georgia. He received an AB degree from Princeton University as a Woodrow Wilson scholar. He received his J.D. and M.M. in finance and marketing from Northwestern University.