Academic Qualifications
PhD, Privately-Financed Infrastructure, Institute for Transport
Studies, University of Leeds, 2008.
Post-Graduate Diploma, Traffic Engineering, Middlesex
University, London, 1994.
MSc, Business and Economic Forecasting, Kingston University,
London, 1992.
MSc, Transport Planning & Management, University of Westminster,
London, 1989.
Professional Qualifications
Chartered Civil Engineer
Current Appointments
Visiting Research Fellow, University of Leeds (School of
Civil Engineering)
Technical Committee Member, FODEIM 1 (Latin American
infrastructure fund)
Employment
2007 to date: Managing Director, RBconsult
Freelance consultant providing technical and credit-related
advice to institutional investors, infrastructure funds and
insurance companies. Recent commissions have included expert
witness services, the preparation of independent demand study
reviews for credit committees, and rating advisory and financial
structuring services for transportation projects.
Separately, I am retained by the European Investment Bank and
Standard & Poor’s. Work with the EIB involves reviewing their
PPP portfolio and the technical appraisal of candidate
investment transport projects. Work with S&P includes the
preparation of credit estimates, the development and application
of credit models, the provision of credit training services to
banks and management of a large database containing
details of international project finance loan performance (PD &
LGD).
2002-2007: Director, Standard & Poor’s
Director and transportation sector co-ordinator in the agency’s
European Infrastructure Finance Ratings practice. Responsible
for credit analysis, ratings and surveillance in the road, rail,
airport and bus sectors – covering corporate and structured
finance (mainly project finance transactions and
securitisations).
Additional responsibility for transport and
construction-related credit risk research, and credit risk
training (internal and external courses – focused primarily on
project finance risk analysis and transaction structuring).
1988-2001: Associate Director, Steer Davies Gleave
Traffic and transportation consultant with international
experience from Europe, Latin America and Asia. Specialised in
transportation demand modelling (particularly traffic and
revenue studies for investor-financed toll roads) using SATURN
and EMME/2.
Office manager of the company’s full-service Caribbean office in
Puerto Rico for six years (1995-2001).
Professional Memberships
Fellow, Institution of Civil Engineers
Fellow, Chartered Institution of Highways & Transportation
Member, Institute of Credit Management
Post-Graduate Lecturing Experience
Guest lecturer at over 10 universities in the UK & USA (North
Eastern University, Boston and Massachusetts Institute of
Technology, Cambridge). Transportation economics course
supervisor/lecturer (UK & Egypt). Transport investment appraisal
course supervisor/lecturer (Bulgaria).
PhD Research Topic
Doctoral thesis examined the structuring and use of private
finance for infrastructure (mainly highway) projects. Research
topics included construction risk and management, traffic
forecasting accuracy, an economic analysis of alternative
procurement approaches, a financial analysis of private sector
road operating companies, and an examination of the
value-for-money benefits of using alternative capital
structuring and funding sources.
Publications
Author of over 40 papers published in peer-reviewed journals,
conference proceedings and
transportation / finance magazines. Topics have included the
predictive accuracy of traffic and transit demand forecasting
models, a financial analysis of private-sector road operating
companies, regional analyses of the international toll road
sector (eg. Mexico) and numerous credit-related articles focused on
transportation issues (see
articles & papers for more
detail).
My PhD thesis was published as a book in 2008 (ISBN:
978-0-9561527-0-1) and I have just published a technical guide,
“How to Analyse and Interpret Transportation Forecasts” for
credit analysts, investors and public sector promoters. This
guide is available in English (ISBN: 978-0-9561527-0-1), Spanish
(ISBN: 978-0-9561527-2-5) and Chinese (ISBN: 978-0-9561527-3-2)
– see
books for more detail.
References
Consulting, academic and personal references available upon
request. |