David J. Eckhart | Robert W. Jones | Martin J. Stallone | E. Gilbert Carpenter
Kevin E. Finley | Robert R. Kintner

DAVID J. ECKHART, President Managing Director

Experience : Mr. Eckhart has been involved in the derivative and reinvestment marketplace since 1988. Mr. Eckhart is one of the founding principals of IMAGE, established in November, 1992. Since then, IMAGE has grown to be one of the largest independent firms in the marketplace, managing the placement of over $100 billion of derivative products. Mr. Eckhart is an innovator in the marketplace, developing ideas such as escrow restructuring strategies that create significant value for municipal issuers. Under Mr. Eckhart, IMAGE has completed more than 70 escrow restructuring transactions totaling nearly $14 billion in escrow size. He also served as an investment banker with Shearson Lehman Hutton, Inc. for seven years, where he was involved in structuring several innovative financings for many types of issuers including cities and counties, hospitals, airports, prisons, resource recovery and others.

Education : Mr. Eckhart received his B.S. degree in Marketing and his M.B.A. in Finance from The Pennsylvania State University.

MARTIN J. STALLONE, Managing Director

Experience : Marty joined IMAGE in 1999 as a Managing Director.  Prior to this, Marty was the founding partner and President of Hamilton Consulting, Inc., a Pennsylvania based, full service financial advisory firm.  He also served as Vice President of the Corporate and Municipal Finance Department of Meridian Capital Markets.  Marty specialized in structuring complex capital finance transactions for business corporations, nonprofit entities and governmental units.  Marty’s extraordinary financial and analytical skills, coupled with nearly twenty years of experience in the public markets, enables him to provide unparalleled insight into even the most complex finance transactions.

Mr. Stallone has pioneered the firm’s efforts in interest rate swap and derivative transactions.  IMAGE now represents several of the largest issuers of municipal bonds in the Country who, with IMAGE’s assistance, are on the cutting edge of municipal derivative technology.  Several transactions that Marty and IMAGE have completed include: the largest hedging program ever implemented by a public issuer, one of the largest BMA Index swaps ever completed by a public issuer, first of its kind option structures, and certain transactions that had been written off as “undoable” by others before them.  Marty’s resume of completed swap transactions ranks second to none in the public/municipal swap industry.  Marty is renowned for his ability to synthesize the myriad complexities of any derivative transaction and provide a concise, understandable explanation and evaluation of products to his clients.  His extensive experience in municipal and structured finance has allowed Marty to expand and improve the use of these types of products to better serve IMAGE’s clients.

Professional Activities : Marty has been the featured speaker regarding these topics for many organizational and professional seminars including numerous national municipal derivative conferences, Bond Buyer conferences, the Government Finance Officer’s Association and more.

Education : Marty is a graduate of Cornell University (BA) where he was honored as a National Merit Scholar and a member of the All-Ivy League football team.

ROBERT W. JONES, Managing Director

Experience : Mr. Jones is one of the founding principals of IMAGE, established in November, 1992.  Prior to that he served as Senior Vice President at Shearson Lehman Hutton, Inc. where he was an investment banker and Manager of the firm’s Philadelphia Public Finance Department.  He was directly accountable for the firm’s tax-exempt investment banking activities in Pennsylvania, New Jersey, Delaware, Maryland and Virginia.  During this time, his group was responsible for some unique infrastructure financings such as the first zero coupon bond issue and agricultural bonds.  Mr. Jones’ vast experience in public finance plus his managerial capabilities has helped IMAGE to become one of the premier independent bidding agents for the reinvestment of bond proceeds and other derivative products.

Education : Mr. Jones received his B.A. in Business Administration from Drexel University.

E. GILBERT CARPENTER, Managing Director

Experience : Mr. Carpenter joined IMAGE in 1995.  Prior to that he was a refinancing and new products specialist with Wheat First Butcher Singer's Public Finance Group for nine years.  Mr. Carpenter has structured and implemented hundreds of refinancing programs for a variety of municipal clients and project developers.  Today, Mr. Carpenter's areas of expertise include all forms of debt restructuring and cash flow analysis, escrow funding and optimization programs, refunding of multipurpose bond issues, replacement proceeds issues and transferred proceeds analysis.  He is available at all times to provide computer modeling and technical analysis with respect to any financial scenarios our clients wish to explore.

Education : Mr. Carpenter received his B.S. in economics from the Wharton School of the University of Pennsylvania.

KEVIN E. FINLEY, Managing Director

Experience : Mr. Finley joined IMAGE in 2001.  Prior to that he was the founding Partner of an industrial and commercial development company involved in the financing, building and operating of manufacturing facilities.  He also served as Managing Director of the Capital Markets Group of Wheat First Securities where he was the co-head of the Fixed Income Group in Philadelphia.   In that capacity, Mr. Finley had direct oversight responsibility for the investment banking professionals within that group, as well as primary deal responsibility.  Mr. Finley specialized in the structuring of complex project financings for both corporate and municipal clients.

Since joining IMAGE, Mr. Finley has helped to develop the firm’s efforts in facilitating innovative project finance techniques to assist IMAGE’s large Issuer and Investment Banking client base.

Education : Mr. Finley is a graduate of The Pennsylvania State University where he received his B.S. degree in Finance.

ROBERT R. KINTNER, Vice President, Director of DerivActiv’s Valuation & Reporting Services

Experience : Mr. Kintner joined IMAGE in 2004.  Prior to joining IMAGE, he served as Short-Term Municipal Underwriter and Trader at Tucker Anthony, Inc. and an Assistant Trader and Underwriter for Hopper Soliday & Co., Inc.  During that time, he assisted in the development and management of a $200 million Tender Option Bond Program, performed underwriting and remarketing for short-term and variable rate municipal issues, and assisted with proprietary trading and hedging strategies for municipal bonds.  Mr. Kintner joined IMAGE to provide valuation, monitoring, advisory and reporting services.

Education : Mr. Kintner earned a Bachelor of Science degree in Business Management from Millersville University, Pennsylvania.