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,
MSc, Transport Planning & Management, University of Westminster,
Chartered Civil Engineer
Visiting Research Fellow, University of Leeds (School of
Technical Committee Member, FODEIM 1 (Latin American
2007 to date: Managing Director, RBconsult Ltd
Independent consultant providing technical and credit-related
advice on transportation projects and PPPs to the financial
services sector, regulators and government agencies.
Long-term engagements have included on-going work for Standard &
Poor's (and the rating agency's consulting division Risk
Solutions) and a two-year framework contract with the EIB (in
Luxembourg). Other repeat-business clients include the EBRD, the
European Parliament, Canadian pension funds, US equity funds and
insurance companies, state and federal agencies in the US and
Australia, and global law firms (as expert witness).
Recent assignments have involved reviewing demand and revenue
forecasts, credit risk modelling and credit risk training
(mainly for banks).
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, bus and PPP sectors – covering corporate and structured
finance (mainly project finance transactions and securitisations).
Primary analytical responsibilities for $4.5bn of issued debt.
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
Office manager of the company’s full-service Caribbean office in
Puerto Rico for six years (1995-2001).
Fellow, Institution of Civil Engineers
Fellow, Chartered Institution of Highways & Transportation
Fellow, Institute of Credit Management
Member, Expert Witness Institute
Lecturing & Training
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).
Professional development and institutional capacity-building
courses and workshops (on traffic risk, credit risk, project
finance and PPPs) delivered in the UK, South Africa and
Doctoral thesis examined the structuring and use of private
finance for infrastructure (mainly highway) projects.
On-Going Research Interests
- Transport demand modelling
- Predictive capability and forecasting accuracy
- Credit risk modelling
Author of over 50 papers published in peer-reviewed journals,
conference proceedings and transportation / finance magazines.
Topics have included traffic risk, the predictive accuracy of
traffic and transit demand forecasting models, credit ratings,
lessons from public-private partnerships and numerous
credit-related articles on transportation issues (see
articles & papers for more
Author of two recently published books: "Toll Road Traffic &
Revenue Forecasts - An Interpreter's Guide" (ISBN
978-0-9561527-1-8) and "Privately-Financed Roads in Britain: A
Policy Assessment" (ISBN 978-0-9561527-0-1). The Traffic &
Revenue Forecasting book is available in Spanish and Chinese –
books for more detail.
Peer reviewer for a number of internationally-recognised
academic journals. Recent examples include:
- Transportation Research Part A: Policy & Practice
- Transport Policy
- Transport Reviews
- The European Journal of Transport and
- Journal of the American Planning Association
- Journal of Transportation and
- Neural Computing & Applications
Insurance (global cover)
Professional Indemnity (EWI): HU PI6 1427234
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