Managing Directors

John M. Holland - Kansas City

John "Jack" Holland has been an investment banker with Oppenheimer & Co. Inc. and several regional investment banks for more than 30 years. Currently, Mr. Holland is a Managing Director of Oppenheimer & Co. Inc. He directs the firm's public finance practice based in Kansas City, Missouri. He is a graduate of the University of Missouri and University of Missouri-Kansas City Law School and serves on a number of civic boards.

Mr. Holland has been involved in financing projects of regional and national significance, including The Harry S Truman Sports Complex (Arrowhead and Kauffman Stadiums), Sprint Arena, Power & Light District, Kansas Speedway, Kansas City International Airport, Kemper Arena, Kansas Turnpike, Springfield-Branson National Airport, Hammons Field, Cox Health System, Health Midwest Hospitals, Truman Medical Center, Country Club Plaza, Brush Creek Flood Control Project, Bartle Hall Convention Center, American Royal Exhibition Center, Marriott Muehlbach Hotel and Zona Rosa.

Ralph L. McGinley - Minneapolis

Mr. McGinley serves as Managing Director of the Fixed Income Investment Banking Department of Oppenheimer & Co. Inc. in Minneapolis. He has over 25 years of investment banking experience. Prior to joining Oppenheimer, he was Head of Fixed Income for MJSK/John G. Kinnard and Manager of the Originations Group at Dougherty Dawkins. Before he joined the financial services industry in 1982, he served in the public sector for 12 years with the Metro Inter-County Council in St. Paul, the Toledo, Ohio Council of Governments and as County Administrator in Anoka County, Minnesota. Building on this strong base of local government expertise, he has focused his investment banking activities on city, county, school district and infrastructure projects.

In addition to his work in the not-for-profit sector, with a special emphasis on education and long-term care providers, Mr. McGinley has recently been heavily involved in the project finance banking of a number of alternative fuel developments throughout the country. His industry resume includes managerial experience at Juran & Moody, Dougherty Dawkins and John G. Kinnard.

Mr. McGinley holds a Master's Degree in Business Administration from the University of Toledo and a Bachelor's Degree in Economics from Wittenberg University. He holds the Series 7 (General Securities Representative License), 63 (Uniform Securities Agent State Law Examination and 53 (Municipal Securities Principal).

Bonnie Siegal - Northeast Public Finance Group

Ms. Siegal, a Managing Director in Oppenheimer's Municipal Capital Markets Group and the Manager of the Northeast Public Finance Group, made up of individuals in our New York and New Jersey offices, has over 27 years of municipal investment banking experience. She has served as lead banker or financial advisor on over $7 billion of municipal transactions nationally and is known for her expertise in working with complex, or "story," credits.

Ms. Siegal has been responsible for a number of firsts, including the first public offering for one of the nation's largest municipal healthcare systems; the first debt rating of a medical school independent of a university; a first-time rating and the first bond financing for several universities nationwide; the first unrated healthcare transactions in a number of states and the first hospital swap transactions for hospitals in several states. She has also served as advisor on a number of difficult nationally based M&A transactions such as advisor to the State of New Jersey on the sale of United Hospital in Newark out of bankruptcy; the merger of the Medical University of Ohio and the University of Toledo; the merger of non-sectarian and Catholic hospitals in a number of states and the privatization of Quincy Hospital and its affiliation with Boston Medical Center. Ms. Siegal is currently working on transactions for various national proton and carbon ion cancer treatment facilities.

Prior to joining Oppenheimer, Ms. Siegal was Co-Director of the Municipal Finance Group at Ryan Beck. Prior to her work at Ryan Beck, Ms. Siegal managed groups at several firms, among them Legg Mason, Alex Brown and Sons, Donaldson Lufkin & Jenrette and Bear Stearns. Prior to joining Bear Stearns, Ms. Siegal was a senior rating officer at Standard & Poor's in New York.

Ms. Siegal received a Bachelor of Science degree from the University of Pennsylvania and an M.B.A. with a major in healthcare administration from Temple University. While at Temple University, she completed residencies at the Philadelphia V.A. Hospital and at the Hospital of the University of Pennsylvania. She has served as author for publications for the Healthcare Financial Management Association and frequently serves as a speaker at conferences for the HFMA, Standard and Poor's and The Bond Buyer. She co-chaired the Bond Buyer healthcare conference in October 2008 and ran a panel on proton and carbon ion facility financings. Ms. Siegal holds the Series 7 (General Securities Representative License), 63 (Uniform Securities Agent State Law Examination and 53 (Municipal Securities Principal).

Allison F. Fleitas II - Philadelphia

A recognized veteran of the industry, Allison "Al" Fleitas brings to Oppenheimer 38 years of experience in the short-term municipal business. Introduced to Wall Street in the 1970's, he has witnessed major developments in the financial industry and has played an integral role in the resolution of liquidity and credit crises in the municipal market. His experience has enabled him to steer a steady course in today's market. Al heads the Municipal Note Public Finance Group and the Municipal Short Term Department, both of which have national scope. As a rule, his department submits bids on all investment grade short-term issues throughout the country. Specializing in research, Al's department has developed a specialty for bringing to market issues that are not rated or that do not have official statements. Oppenheimer & Co. Inc. in 2009 ranks nationally in the top five for number of new issue notes underwritten.

Al's previous employment history in New York included Lehman Brothers, Ehrlich-Bober and Morgan Stanley. A Philadelphia native, he returned to head the short-term department for Commerce Capital and Janney Montgomery Scott prior to joining Oppenheimer & Co. Al is a graduate to the University of Delaware and holds licenses for series 7 (General Securities Representative License) , 24 (General Securities Principal), 53 (Municipal Securities Principal) and 63 (Uniform Securities Agent State Law Examination).

Richard F. Carolan - Providence

Richard "Dick" Carolan, Managing Director of the Providence, Rhode Island Public Finance Department, has been in tax-exempt bond business for over 40 years and has spent his entire business career working with municipal bonds and municipal financings. He retired as Vice Chairman from the prestigious Business Conduct Committee of District 13 of the National Association of Securities Dealers. The area covers all of New England, upstate New York, Canada and Western Europe.

Mr. Carolan is also a former member of the municipal finance committee of the Securities Industry Association (SIA), a member of Save the Bay, a Trustee Emeritus of Brown University, a former Director of Almacs Super Markets, and Lee Engineering and a former President of the Brown University Sports Foundation. He is currently a director of the Gilbane Building Company.