Academy Securities is our nation’s first Post-9/11 veteran-owned and operated investment bank with strengths in capital markets, asset management, public finance, geopolitical intel, fixed income and equity trading. We operate at the intersection of geopolitical risk and finance.
Paul Chatalas leads the State’s bond issuance and debt management efforts through the Governor’s Office of Management and Budget (GOMB), where he oversees a $30 billion bond portfolio. Since 2019 Paul has been responsible for the execution of more than $10 billion of Illinois debt. He also serves as the Chief Financial Officer of the Railsplitter Tobacco Settlement Authority (RTSA) and on the Investment Advisory Panel of the Illinois Student Assistance Commission (ISAC). Paul is currently Chair of the Debt Committee of the Government Finance Officers Association (GFOA) and is a member of the state-level debt committee for the National Association of State Treasurers (NAST).
Paul has nearly 30 years of combined public policy and public finance experience, with the prior 15 years in public finance with investment banks in Chicago and New York. Before entering public finance Paul spent several years working on Capitol Hill for members of the U.S. House and Senate, including members of the Budget and Appropriations Committees, and served as Executive Director of an NGO that focuses on US/UN relations. He holds a Master of Public Administration degree from Columbia University’s School of International and Public Affairs (SIPA) and a B.A. from the University of Oregon. Paul is a resident of Chicago.
The national law firm of Ice Miller positions its broad collective insights and deep bench to provide the highest level of service to its clients, helping businesses, investors, and state and local governments deploy their capital, solve complex problems, and make smart business decisions. We bring the right team of lawyers from across our unified platform to address client needs with rigor and vision. Together we collaborate to offer the right legal and business solutions tailored to our clients and their specific needs.
Liang is a director in PFM’s Arlington office. She joined PFM as an analyst in July 2010, focusing on transportation financings and long-term transportation capital planning. Her client engagements frequently include design and implementation of complex plans of finance for large capital programs, refunding opportunity evaluation and execution, and credit analysis. The project financings that Liang has completed or is currently working on include Grand Parkway in Texas, Louisville Bridges in Kentucky, Parallel Thimble Shoal Tunnel, Hampton Roads Express Lane Network, Long Bridge Project in Virginia, and Hudson Tunnel Project between New York and New Jersey, as of 6/12/2026. She specializes in USDOT/Build America Bureau’s direct loan programs (TIFIA and RRIF), having completed twelve loan transactions representing borrowers and also serving as financial advisor to the Bureau. She oversees PFM’s Transportation Analyst financial modeling training program. Liang has participated on debt transactions totaling over $10 billion, including one Bond Buyer Regional Deal of the Year.
Brendan Mannion is a seasoned municipal finance leader with more than a decade of experience helping governments, infrastructure authorities and educational institutions navigate complex financing. He spent ten years in Citigroup’s Public Finance Division, where he worked with municipal issuers across sectors including utilities, infrastructure, transportation and higher education. In 2021, he joined DebtBook, rising from Director of Client Success to Vice President roles, first overseeing the Treasury Product line and now guiding overall product development. Today, as Vice President of Product, Brendan leverages his deep public finance expertise to shape modern treasury and accounting solutions that meet the evolving needs of state and local governments, universities and other public sector issuers.
Collin Teague, Managing Director, has served as a public finance banker for close to 20 years, having served as lead or execution banker on over $30 billion in total par, including on several relevant transactions for transit, toll road and state transportation agencies. He has executed transactions for transit agencies including New York Metropolitan Transportation Authority / Triborough Bridge and Tunnel Authority, Chicago Transit Authority and Dallas Area Rapid Transit; toll road agencies including Grand Parkway Transportation Corporation, Central Texas Regional Mobility Authority, Illinois State Toll Highway Authority and Harris County Toll Road Authority; and state and large local issuers including TxDOT, Michigan DOT, Michigan State Building Authority, Indiana Finance Authority and Indianapolis Local Public Improvement Bond Bank. Collin has significant experience developing comprehensive plans of finance for surface transportation issuers, which have included but are not limited to the structuring of new credits/liens and master indentures for startup project financings; the structuring, negotiation and execution of TIFIA loans; interim financing programs including public and private note programs and TIFIA bond anticipation notes; and the refinancing of TIFIA loans. Collin also brings significant experience structuring financings secured by sales and other special tax for state and local governments, as well as real estate financing and other project financings.
Thomas J. McKone was named the Chief Financial Officer and Treasurer of the Authority in August 2024. Mr. McKone first joined the Authority in 2012 as Vice President of Budget, Management, & Capital Finance, during which time he led the development and execution of the Authority’s operating and capital budgets and served as Acting Chief Financial Officer. He spearheaded the efforts to balance the Authority’s operating budget after the recent economic recession and helped lead the Authority’s multi-billion-dollar capital infrastructure modernization efforts. In 2016, Mr. McKone took the role of Chief Administrative Officer, overseeing the administrative departments responsible for hiring, employee benefits, workforce development, agency performance management, transit asset management, purchasing, and EEO. He also serves as chair/vice-chair of the Retiree Healthcare Trust and Retirement Plan for Authority Employees. He is a graduate of the University of Chicago with a Master’s in Public Policy and a B.A in economics and statistics from Northwestern University.
Blaylock Van, LLC is Wall Street’s longest continuously operated African American investment banking and financial services company, providing corporate debt and equity underwriting, sales and trading and municipal finance for over 30 years.
Margot is Head of Research for municipal fixed income at Nuveen. She leads the municipal credit research team, which is among the largest and most experienced in the industry. Margot is also a Portfolio Manager for several investment grade closed-end funds.
She is a thought leader who co-authors the Munis in Your Community series that explores the connection between effective muni bond investing and the communities where Americans live and work. Margot’s group was named the best team in the 2025 Smith’s All-Star Municipal Analysts Awards.
Margot joined Nuveen in 2009 as municipal credit research analyst specializing in the education sector that includes higher education and charter schools. She is considered an expert in municipal bonds that are used to finance education infrastructure, and she is a leading voice who helps establish credit standards and disclosure practices for credits in the municipal market. Before joining the firm, Margot was a municipal credit analyst on the higher education and not for profit ratings team at Moody’s Investors Service. She started her career in 2002 in equity research at Credit Suisse.
Margot graduated with a B.A. from the University of Pennsylvania and a M.P.A. from New York University. Margot is a member of the Chicago Municipal Analysts Society and the National Federation of Municipal Analysts, where she mentors early talent in the municipal bond industry. She is also a sponsor of the Women in Nuveen program.
Madison is an Executive Director in Oppenheimer’s Public Finance Investment Banking group in Chicago, recognized for her high‑impact transaction work and hands‑on client coverage. Throughout her career, she has played key roles in financings for major issuers including the City of Chicago, the State of Wisconsin, and the Indianapolis Local Public Improvement Bond Bank. She was part of the senior managing finance team on the City of Chicago’s Sales Tax Securitization Corporation 2023 transaction, which won The Bond Buyer’s 2023 Deal of the Year award. Madison was subsequently named a Rising Star by The Bond Buyer in 2024.
Madison’s dedication to the public finance community extends well beyond her day‑to‑day work. She is President of The Municipal Bond Club of Chicago and has previously held multiple leadership positions within Women in Public Finance, including Chair of the inaugural Emerging Leaders Council, where she guided national initiatives to elevate rising professionals and expand access, visibility, and engagement for the next generation of public finance leaders.