Past PhAMAS Events

Topic: Electric Industry Transition Including Disruptive New Technologies Such as Battery Storage

Date: Thursday, January 18, 2018

Time: 3:00 - 5:00 pm, with a "Post-Holiday Reception" sponsored by Janney Montgomery Scott to follow


Janney Montgomery Scott LLC
1717 Arch Street, 20th Floor
Philadelphia, PA 19103

Featuring a distinguished panel assembled by Dan Aschenbach of Moody's:

Dan Aschenbach, Senior Vice President, Moody’s Investors Service will moderate the discussion and offer some perspective on cost recovery risk for public power electric utilities as electric transition takes place. Download Dan's presentation.

Michael Hagerty is a Senior Associate at The Brattle Group with experience in electricity wholesale market design, renewable and climate policy analysis, transmission planning and development, and strategic planning for utility companies. Michael has worked on several analyses in support of cost of new entry (CONE) estimates for ISO-NE and PJM. Michael has also focused on analyzing opportunities and challenges of existing and proposed renewable energy and climate policies, including the EPA’s Clean Power Plan (CPP), state-level Renewable Portfolio Standards (RPS), and California’s GHG cap-and-trade market. Mr. Hagerty holds a B.S in Chemical Engineering from the University of Notre Dame in South Bend, Indiana and an M.S. in Technology and Policy from the Massachusetts Institute of Technology in Cambridge, Massachusetts. Download Michael's presentation.

Tom Falcone is the CEO of the Long island Power Authority who is not only responsible for leading one of Nation’s largest utilities but has been at forefront of introducing new technology into the power grid.  Tom will  provide the context of the use of battery storage from the CEO utility perspective. Download Tom's presentation.

Emily Schapira, Executive Director of the Philadelphia Energy Authority is leading this major city’s efforts on solarizing Philadelphia and will discuss the opportunities and constraints on this effort including role of battery storage and solar. Download Emily's presentation.

Topic: Rainy Day Funds and State Credit Ratings: Presentation and Panel Discussion

Date: Thursday, September 21, 2017

Time: 4:00 - 6:00 pm


PFM Financial Advisors
1735 Market Street, 42nd Floor
Philadelphia, PA 19103

Refreshments will be served.

Presentation: Rainy Day Funds and U.S. State Ratings by Dr. Jon Moody, followed by a panel discussion led by Arnold Foundation’s Brenna Erford. Panelists include Baye Larsen from Moody's and Erin Kelly from Vanguard.

Topic: Trump: First 100 Days

Date: Thursday, July 27, 2017

Time: 4:00 - 6:00 pm


Ballard Spahr
1735 Market Street, 51st Floor 
Philadelphia, PA 19103


George Friedlander, Managing Partner, Court Street Group Research

John Godfrey, Government Relations Director, American Public Power Association

Pension Risks Moving from Balance Sheets to Budgets

Date: Thursday, June 1, 2017

Time: 3:00 - 6:00 pm


Cozen O'Connor
1650 Market Street, 28th Floor 
Philadelphia, PA 19103


Tom Aaron and Tim Blake, Moody's

Note: This event is closed to the press.

Sponsor: National Public Finance Guarantee

Inside the Mind of a Bankruptcy Expert: Thoughts on The Need for U.S. States to Access Bankruptcy and Puerto Rico's Status

Date: Wednesday, May 3, 2017

Time: 4:00 - 6:00 pm


PFM Financial Advisors 
1735 Market Street, 42nd Floor 
Philadelphia, PA 19103


David Skeel, UPENN Law, member of Puerto Rico Oversight Board

Note: This event is open to the press.

2017 Municipal Market Outlook

Date: Thursday, January 19, 2017

Time: 4:30 - 7:00 pm (the discussion will be in two parts with a networking break in-between)


Janney Montgomery Scott
1717 Arch Street
20th Floor
Philadelphia, PA 19103


Join your industry colleagues for the Philadelphia Area Municipal Analyst Society’s 2017 Municipal Market Outlook. This year the format will be an Unconference - a free-form exchange of ideas among top industry leaders in a peer-to-peer learning session. Audience participation is encouraged throughout the sessions.  Leading the discussion are:

· Sean Carney, BlackRock
· Natalie Cohen, Wells Fargo Securities
· Tom McLoughlin, UBS
· Tom Weyl, NPFG
·  Matt Posner, Court Street
·  Michael Zezas, Morgan Stanley 

Stephen Winterstein from Wilmington Trust will serve as moderator.

Presentation and Holiday Party

Date: Thursday, December 1, 2016

Time: 5:30 - 8:00 pm

Drinks available from 5:30 to 6, Nathan will speak, take questions for about an hour, sign books and heavy appetizers and drinks will be served


Ballard Spahr LLP 
1735 Market Street, 48th Floor 
Philadelphia, PA 19103


Nathan Bomey, former Detroit Free Press reporter (now at USA Today)


Nathan Bomey covered the Detroit bankruptcy while at the Detroit Free Press. His book, Detroit Resurrected: To Bankruptcy and Back covers the filing, the negotiations and near-term results. 

Sponsor: Assured Guaranty


Reception for Attendees of the NFMA Introduction to Credit Seminar

Date: Thursday, November 17, 2016

Time: 6:00 - 8:00 pm


Ladder 15
3rd Floor Private Room
1528 Sansom Street
Philadelphia, PA  19102

Featuring:  Heavy hors d'oeuvres stations

Who's Invited:  PhAMAS members, NFMA Intro Session Presenters, and Conference Attendees.

Sponsors: PhAMAS and National Public Finance Guarantee Corporation

The FBI and the Bernie Madoff Investigation

Date: Tuesday, September 20, 2016

Time: 12:00 - 1:30 pm


Racquet Club of Philadelphia
215 S 16th Street
Philadelphia, PA 19102

Hear from the FBI Case Agent who worked the notorious Bernard L. Madoff Investment Securities Ponzi Scheme investigation. Learn what it took to convict Madoff and his fraudster co-conspirators. Hear about aspects of the investigation not released to the public. Learn about some of the key players involved, and see photographs taken during search and seizures (including Madoff's office).  

This fascinating case study will detail the complexities of an investment scandal that cost its victims billions of dollars, and the trial that resulted in the convictions of five defendants on thirty-one guilty counts. 

Patrick J. Duffy is a Special Agent with the Federal Bureau of Investigation, Philadelphia Division. SA Duffy is currently assigned to a White Collar Crime Squad that specializes in Corporate and Securities Fraud, where his principal duties include the investigation of violations of federal securities laws. SA Duffy's cases include investigations of Insider Trading, Market Manipulations, and Ponzi schemes.

SA Duffy received a bachelor's degree in Accounting from LaSalle University in 2002. From 2002 to 2008, SA Duffy worked within the audit practice of KPMG, LLP Philadelphia where he was employed as an associate and senior associate on both public and private client engagements.

Sponsor: This program is co-produced by PhAMAS and CFA Society of Philadelphia. Visit them on the web at

Public Pension Day #2 (of 2), 2016

Date: Wednesday, July 13, 2016

Time: 10:00 am - 5:00 pm

Ballard Spahr, 1735 Market Street, 48th Floor, Philadelphia, PA 19103


Trends in Pension Funding around the US Post GASB 67 & 68Les RichmondBuild American Mutual

Pension Reform: Lessons from Around the CountryShannon D. Farmer, partner at Ballard Spahr 

Review of New Pension Accounting Standards for GASB 67 & 68Dean Mead, Research Manager at the Government Accounting Standards Board (GASB)

History and Politics of Pennsylvania PensionsJohn D McGinnis, PA Representative for District 79 (Blair County, including Altoona)

Public Pension Day #1

Date: Thursday, June 9, 2016 

Time: 9:00 am

Location: Janney Montgomery Scott, 1717 Arch Street, Philadelphia


Tom Aaron and Tim Blake from Moody's

Dr. Dan DiSalvo, CUNY and author of Government Against Itself, will give a presentation titled, "Pensions and Public Sector Unions: The politics of legacy costs."

Eugene DePasquale, Auditor General of Pennsylvania, will review his office's work on public sector pensions

Jay Hines ad Jeff Ammerman from the Pennsylvania Association of School Business Officials (PASBO)

Sponsored by: Assured Guaranty

A Compromise for Puerto Rico

Date: Friday, June 3, 2016

Time: 12:00 pm

Location: Janney Montgomery Scott, 1717 Arch Street, Philadelphia

Featuring: Kent Hiteshew, Director of the US Treasury Department's Office of State and Local Finance, who will discuss H.R. 5278 PROMESA 

Sponsored by: PhAMAS

Philadelphia Academic Medical Centers: Transforming from Volume to Value

Date: Thursday, April 14, 2016 

Time: 3:00 pm

Location: Cozen O'Connor, One Liberty Place, 1650 Market Street, Philadelphia


Herbert P. White, FHFMA, Assistant Vice-President at Temple Health

Dr. Daniel Quirk, Thomas Jefferson University Hospital

2016 Municipal Market Outlook

Date: Wednesday, February 17, 2016 

Time: 4:00 pm

Location: Ballard Spahr LLP, 1735 Market Street, 51st Floor, Philadelphia


Blake Anderson, Managing Director, High Yield Securities, Mesirow Financial

Natalie Cohen, Head of Municipal Research at Wells Fargo, N.A.

Michael Zezas, Managing Director and Chief Municipal Strategist, Morgan Stanley

Sponsored by: National Public Finance Guarantee Corporation

Presentation and Holiday Party

Date: Thursday, December 10, 2015 

Time: 4:00 pm

Location: Top of the Tower, 1717 Arch Street, Philadelphia

Featuring: Terry Smith, Founder and CEO of Smith's Research and Gradings

Sponsored by: Assured Guaranty

Accelerating Technological Change: Things for the Muni Market to Think About

Date: Thursday, November 19, 2015 

Time: 4:00 pm

Location: Arch Auditorium on the University of Pennsylvania Campus, Philadelphia

Featuring: George Friedlander, Municipal Strategist, Citigroup

Hosted by: Fels Institute of Government

Politics and Public Opinion in Pennsylvania

Date: Wednesday, October 14, 2015 

Time: 12:00 - 2:00 pm

Location: Ballard Spahr, 1735 Market Street, 48th Floor, Philadelphia

Featuring: G. Terry Madonna; Director of the Franklin & Marshall College Poll and Professor of Public Affairs at Franklin & Marshall College.

Sponsored by: Build America Mutual

The Municipal Information Age: New Media in the Municipal Bond Market (focus on Twitter)

Date: Thursday, October 1, 2015 

Time: 11:00 am - 3:00 pm

1600 Market Street
Philadelphia, PA 19103

Featuring: Kristi Culpepper, State of Kentucky; Joe Mysak, Bloomberg

Sponsored by: National Public Finance Guarantee Corp.

What are the Newest Perspectives on Puerto Rico Bond Investing?

Date: Thursday, July 30, 2015

Panel Participants:
Alan Schankel, Janney Capital Markets (Moderator)
Dan Loughran, Oppenheimer Funds
Hector Negroni, Fundamental Advisors LP
Tom Weyl, National  Public Finance Guarantee 

Sponsor:  National Public Finance Guarantee


April 9, 2015: US Public Pensions: Past Promises, Today’s Credit Challenge, by Moody’s Investor Service Tim Blake and Tom Aaron

January 15, 2015: 2nd Annual Municipal Analyst Market Outlook with presentations from: 2015 Municipal Outlook-- Tom Kozlik & 2015 Municipal Outlook- Chris Mier; Sponsored by BAM

November 4, 2014: Putting City Credit Quality Back Into the Spotlight -- The Post Detroit Aftershock - presentation by Rich Ciccarone of Merritt Research and Review of Creditscope Products

September 25, 2014: State of the Philadelphia Region's Housing Market by Dr. Kevin Gillen of the University of Pennsylvania 

March 6th, 2014: 1st Municipal Analyst Market Outlook, Speakers included: Peter DeGroot from J.P. Morgan; John Hallacy from Assured; and Meghan Robson from Morgan Stanley; Sponsored by Assured Guaranty 

Nov. 14, 2013: Nancy Winkler, Treasurer of the City of Philadelphia; Sponsored by Assured Guaranty