| Our People
Municipal Capital Markets Group, Inc. is very proud of its professionals, and the quality of service that
they provide to the clients of the firm. MCM is very proud to have retained several large clients for
nearly the entire period of operation of the firm since 1989. To make this happen, the firm focuses on
providing a partnership approach to serving its clients, and the firm works diligently to provide its
clients with cutting edge techniques of financing, in order to obtain the lowest interest rates in the
market. These are some of the people who "make it happen" for you:
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Jim Anderson is Senior Vice President and Managing Director of the Denver, Colorado office. Mr. Anderson has been in the Public Finance industry since 1971. During this time he has been employed in large regional and major national investment banking firms. Mr. Anderson was President and CEO of Anderson, DeMonbrun Inc., building that firm into a significant specialty firm before it was acquired by Prudential-Bache Securities. Over the years Mr. Anderson has developed expertise in the areas of public utility financing, lease-purchase financing for governmental bodies, and advance refunding transactions. In addition to his work as an investment banker, Mr. Anderson has published articles on public finance for leading professional periodicals and has served on community service boards and commissions. He brings to the firm an outstanding background in public finance and public service. Mr. Anderson has a degree in business administration from the University of Denver.
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Dan Askenazi joined MCM’s investment banking unit in January 2002 as a banker and business development consultant. Since joining the firm, Mr. Askenazi has helped develop our capital lease program and has provided investment banking services to various clients. Prior to joining MCM, Mr. Askenazi identified and analyzed investment opportunities for Madison Capital Management, LLC, a firm specializing in distressed debt investing. In addition, he was an associate with PricewaterhouseCoopers, LLP where he provided audit services to companies in various industries. Mr. Askenazi holds a Bachlor’s Degree in Business Administration and a Master’s Degree in Accounting from the University of Texas at Austin. Mr. Askenazi is a Certified Public Accountant in the State of Colorado.
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Fred Cornwall , President of MCM, began his career in the public finance industry in 1975, in Denver, Colorado with Hanifen, Imhoff & Samford, Inc. In 1982 he became a partner in Anderson, DeMonbrun, Inc., a specialty firm which grew to an extent that it was purchased in 1984 by Prudential-Bache Securities. He then became Southwestern Regional Manager of the Public Finance Division of Prudential Bache Securities in Dallas, Texas. In 1989 Mr. Cornwall was one of the founders of Municipal Capital Markets Group, Inc., and became its President.
During his years in the municipal bond industry, Mr. Cornwall has been personally involved in providing financing for borrowers with needs ranging in size from $.2 million to over $300 million. His experience with MCM over the last eighteen years has provided him with extensive experience in pooled loan financing and health care financing. In addition, Mr. Cornwall has either developed, or has been personally involved in virtually every positive change in the way social service providers have obtained bond financing over the last eighteen years, from the pooling of providers into a larger bond issue to reduce costs, to the development of bond ratings through Standard & Poor’s for this industry, to the development of the over-collateralization program now used by social service providers to obtain bond ratings that are higher than the agency merits on its own, thereby lowering their cost of financing.
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Kendal Cornwall joined MCM in 2003 as a credit analyst after 18 years in the airline industry. She brings mathematical analysis, problem solving, customer service and marketing skills to our firm. She graduated from Colorado State University with a Bachelor of Science degree in Psychology.
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Jim Craft, Ed.D. is Senior Vice President of Municipal Capital Markets Group, Inc., has a background in mental health and mental retardation services. He spent twenty-three years in public administration, serving thirteen years with the Texas Department of Mental Health and Mental Retardation at the institutional level and in the central administration as Deputy Commissioner. After leaving the state organization, Dr. Craft became Executive Director of the Dallas County Mental Health and Mental Retardation Center (one of the largest community mental health centers in the nation) where he served for over eight years. In 1989 Dr. Craft became one of the founders of Municipal Capital Markets Group, Inc. He has a working knowledge of community-based social service programs and capital funding. Dr. Craft has a Doctor of Education degree in educational psychology and administration from Baylor University.
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Ron Davis is Senior Vice President of Municipal Capital Markets Group. Mr. Davis has over twenty-five years experience in all phases of investment banking. While head of underwriting and securities sales in the dealer bank division of United Bank of Denver (now Wells Fargo), Mr. Davis was also involved in portfolio management functions for affiliate banks. During his tenure at United Bank of Denver, he served as President and Chairman of the Colorado Municipal Bond Dealers Association. Subsequently, he was Senior Vice President and fixed income sales and marketing manager for major Denver investment banking firms, and served on their Board of Directors. Currently he heads the Sales Department for Municipal Capital Markets Group. Inc.
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John Grafelman is a Vice President of Municipal Capital Markets Group, Inc., and a senior member of the Investment Banking Department.
He has specialized in working with clients to structure and fund transactions that require a high level of creativity and structuring expertise to accomplish their financial needs and requirements. He has successfully completed financing and consulting projects throughout the United States and has been active in charter school facility finance, education, alternative energy and recycling projects.
John received his Masters of Business Administration from the University of Minnesota. Prior to joining the firm, he was an Investment Banker for a regional investment banking firm, a Trust Investment Officer with a large local bank, a professor of Business Administration with a state university, and an Investment Analyst and Portfolio Manager with a major insurance company. He was appointed to the State of Minnesota Office of Environmental Assistance where he advised on financial matters for state-supported recycling projects. He served with distinction in the U.S. Navy Security Group and in Naval Intelligence.
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Mike Harling is Executive Vice President of MCM. Mr. Harling has been working in the area of public finance for nearly two decades. Prior to becoming one of the founders of MCM, Mr. Harling was President of his own firm, specializing in tax-exempt leasing of real estate and equipment to municipal borrowers from coast to coast. Financing for these leases is provided through the sale of tax-exempt securities. Mr. Harling is one of the country’s leading authorities on lease financing for correctional and other public purpose facilities to local and state governments. Mr. Harling has published articles in major trade periodicals and served on panel presentations on the financing of correctional facilities. In addition, he has developed expertise in the area of multi-family housing developments.
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Jay Hromatka is a Senior Member of the Investment Banking Department and Vice President of Municipal Capital Markets Group, Inc. Prior to joining MCM, Jay spent 14 years with a Minneapolis based regional investment-banking firm; he was a Regional Manager for a major East Coast bank and headed the Midwest regional office for that bank. He has nearly twenty years experience as an originator of educational and correctional facility transactions, lease-purchase transactions and has structured and placed a wide range of IDB and 501(c)3 financings.
Jay received a BSB from the University of Minnesota, majoring in accounting and finance. He is a Registered Representative with the National Association of Securities Dealers (NASD) and previously worked for a Wall Street Brokerage firm. He is a member of the Association for Government Leasing & Finance (AGL&F), a member of the Minnesota Association of School Business Officials (MASBO), and a member of the Michigan Association of Public School Academies (MAPSA).
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Cleve Schorr is in charge of the firm's Retirement and Estate Planning Division, working primarily with businesses in settting up retirement programs for employees. As a Registered Investment Representative, he has invested over $30 million for both individuals and companies for the past nine years. Cleve has a Masters Degree in International Relations from Rutgers University.
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Karen Woodliff joined MCM in May of 2002 from Grant Thornton LLP, where she was a Senior Associate in the Tax Department. At MCM, Karen is in charge of the firm's accounting department and is involved in credit analysis of each applicant seeking bond financing through MCM. Her background is in accounting, with a Bachelor’s degree and a Masters degree in Accounting both from Texas A&M University. She is also a licensed Certified Public Accountant.
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