Gary Krellenstein

Managing Director

Gary Krellenstein is nationally recognized in the infrastructure, energy finance and alternative energy fields, and is a frequent speaker on energy and finance issues. He has given numerous presentations to utilities, environmental groups, and energy and financial organizations He has also lectured and testified at Harvard University, the U.S. Congress (House Science and Technology Committee), Carnegie Mellon University, the Electric Power Research Institute (EPRI), the National Governors Association, the American Public Power Association (APPA), and the New York Academy of Science. For the past 16 years he has hosted and coordinated one of the premiere annual power and gas conferences in the nation for both utilities and investors. Gary is a Managing Director at Kroll Bond Ratings where he specializes in Public Finance and infrastructure analysis. Prior to coming to Kroll’s in 2011, he spent 11 years as a Managing Director and Investment Banker in J.P.Morgan’s Energy and Environmental Group - specializing in utilities, alternative energy technologies and project financing. Gary has also worked as the Director of Municipal Research at First Albany Corporation, a Senior Vice President at Lehman Brothers and a Vice president and Research Analyst at Merrill Lynch. He holds degrees in Nuclear Engineering and Computer Science, as well as an MBA from Cornell University, and started his career as a nuclear engineer and environmental/licensing analyst for the Envirosphere Company, the U.S. Department of Energy and the U.S. Nuclear Regulatory Commission.Prior to becoming an investment banker, Gary took top honors in the national polls of financial analysts conducted by Institutional Investor Magazine (1st team for 11 consecutive years). He has also been elected to All-American Research Teams (first place in the Utilities, Industrial Development and Pollution Control categories) by the Bond Buyer, Global Guaranty, and Smith’s Research and Rating Review. In addition, the National Federation of Municipal Analysts (NFMA) presented Mr. Krellenstein the “1998 Award for Excellence” for his work in credit research and analysis.He recently served on the Board of Directors of the Climate Response Fund, an NGO which focuses on technologies to address climate change; was a contributing author on two books on Public Finance; and taught the NFMA’s “Intro to Public Power” course for the past decade. Gary is also the former chairman of The Bond Marketing Association’s (now SIFMA*) Municipal Credit Committee as well as the former co-chairman of the NFMA’s “Best Practices” committee for utilities and also sat on the Advisory Committee for Public Utilities Fortnightly magazine. Mr. Krellenstein is a member of the Natural Resource Defense Council (NRDC), the Institute of Electrical and Electronics Engineers, the American Nuclear Society, the IEEE Power Engineering Society, the NYC Partnership Energy Task Force, and the American Association for the Advancement of Science.