Well-regarded subject matter expert in public and private sector finance and capital markets with in-depth experience in public administration management, municipal credit analysis across multiple bond sectors, investment portfolio surveillance, state and local government budget matters and debt issuance, and public policy and program analysis.

1. Stewart Simon, Ph.D.
Professional Background
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2. Beacon Lights Advisory, LLC
Stewart Simon, Principal
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Beacon Lights Research & Advisory, LLC is a public sector finance consulting
practice providing municipal advisory services to state & local governments,
municipal bond investment managers, and public policy researchers

3. Public Finance Consulting Assignments
2012 - 2018
A.M. Best Developed claims paying model
Bain & Company Bond pricing and Evaluation
Bank of America Merrill Lynch Municipal Default & Ch. 9 Bankruptcy
Coleman Research Detroit and Puerto Rico Updates
Goldman Sachs Municipal Default & Ch. 9 Bankruptcy
Legg Mason Bond Insurance & Ch. 9 Bankruptcy
GLG Research Public Finance 101
Lumesis Socio-Economic-Finance Indicators
McKinsey & Co. Bond Pricing & Credit Stress Tests
Nathan Associates Airport Advisory
Savader Asset Advisors Bond Portfolio Surveillance
Taconic Capital Puerto Rico Economic Situation
Western Asset Bond Portfolio Surveillance
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4. DirectGovernment-RelatedWorkExperience
444
New York City Department of Housing & Development (FT)
New York State Division of the Budget (FT)
New York State Department of Agriculture & Markets (FT)
New York State Assembly Ways & Means Committee (Internship)
Ulster County, New York, District Attorney Consumer Fraud (Internship)
Federal – State – Local Task Force: Ft. Drum, NY Military Realignment
Federal – State Task Force: Voluntary Metric System Conversion
Rye Brook, NY, Westchester Co. Airport Advisory Board (Representative)
US Dept. of Labor, CETA Project (NYS Dept. of Agriculture & Markets)
Albany, New York Transportation Commission (Community Representative)
Nassau County, New York, Dept. of Parks & Recreation (Summer Positions)

5. Services
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Stewart Simon: Municipal Advisor, Team Leader

7. The Working Group For The Fiscal and Economic Recovery of
Puerto Rico
June 27, 2016
Puerto Rico Restructuring Counterproposal
Bonistas Del Patio
Stewart Simon, Ph.D.
Beacon Lights Research & Advisory, LLC
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Conference Presentation

8. Public Pensions
Breaking Budgets
Fact or Fiction?
Stewart Simon, PhD
January 28, 2014
Presentation

9. Webinar
Detroit Bankruptcy Filing:
Implications for Bond Insurers
and Municipal Market
Stewart Simon, Ph.D.
August 21, 2013
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10. UBS Municipal Research
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Stewart Simon

12. Workouts, Remediation & Advisory
Workouts: Led New York State efforts to develop specific solutions and remedial
courses of action for fiscally distressed local governments to reduce the need for
state financial assistance, including New York City, Yonkers and Utica
Transaction Structuring: Negotiated terms, conditions, and protective covenants for
the issuance of bonds and insurance policies
Financial Analysis: Strong ability to analyze GAAP and GASB financial statements,
analyze cash flows, pro forma statements and projections
Municipal Credit Analysis: Demonstrated analytical proficiency in a broad-range
of bond sectors, including tax-backed, higher education facilities, housing
agencies, transportation projects, utility systems, and 501(c)(3) entities

13. Municipal Credit Analysis: Demonstrated analytical proficiency in a broad-range of
bond sectors, including tax-backed, higher education facilities, housing agencies,
transportation projects, utility systems, and 501(c)(3) entities
Special Projects: City of New Haven, CT property tax collections and securitization;
Orange County HEFA permitted investments (GICS) and debt defeasance; and City of
Philadelphia, Pa insurance policy contract dispute
Risk Management: Developed earthquake risk policy based on the Mercalli Intensity
Scale
Special Projects: City of New Haven, CT property tax collections and securitization;
Orange County HEFA permitted investments (GICS) and debt defeasance; and City of
Philadelphia, Pa insurance policy contract dispute
Workouts, Remediation And
Advisory, Cont.

14. Intergovernmental Relations: Served on special committees, including the National
Bureau of Standards to implement metric system conversion in New York State, and
the federal-state-local task force that developed the plan to implement the huge
expansion of the U.S. Army’s Ft. Drum, New York
Management and Program Reviews: Conducted management reviews that
enhanced the capability of the NYS Department of Environmental Protection to
improve statewide wastewater treatment plant performance and strengthened the
Department of Banking oversight of state-chartered banks
Data Base Construction: Developed database systems that strengthened New York
State’s ability to monitor finances of 1,600 local entities
Workouts, Remediation And
Advisory, Cont.

15. Community Service
• Rye Brook, NY representative on Westchester County Airport Advisory
Board (2015 – Present)
• New York City PENCIL and “Principal of the Day” Program: Advised
Principal of PS 65 (K-5) Brooklyn, New York on budget development and
physical space expansion (2005 – 2006)
• Elfun Society (General Electric’s volunteer charitable organization)
sponsoring education and public service events; also appeared in GE
television commercial on volunteerism (1999)
• Everybody Wins Volunteer Program. Read one time per week to a child
in need remedial assistance at PS 1, New York, NY, serving the Chinese
community of lower- Manhattan (1997 – 2001)
• Community representative on the Capital District Transportation
Commission-Pine Bush Area (Albany, N.Y. (1985 – 1986)
• NYS Gubernatorial recognition for enactment of key legislative initiatives
(1984 & 1985)