James Taylor, President
Mr. Taylor’s area of expertise is developing non-recourse project finance strategies for transportation infrastructure. Prior to joining Mercator Advisors in 2006, he worked as an investment banker for a total of 19 years in the Public Finance Departments of Bear Stearns, Lehman Brothers and Smith Barney.
Mr. Taylor is currently advising the Metropolitan Washington Airports Authority on its efforts to expedite completion of the Dulles Metrorail Project and other transportation improvements within the Dulles Corridor by leveraging Dulles Toll Road revenues and other state and local resources. He served as a lead investment banker for private not-for-profit organizations created to construct and operate new toll facilities – the Pocahontas Parkway in Virginia and the Southern Connector in South Carolina – and he has structured debt financings for private toll roads in Virginia, Texas and California. Mr. Taylor also was one of the lead investment bankers on the 1995 revenue bond financing for the E-470 Toll Road Project in Denver, Colorado, a transaction recognized by Institutional Investor magazine as a “Project Finance Deal of the Year.”
Catherine Reddick, Vice-President
Ms. Reddick has over 15 years of professional experience in investment banking and public-sector financial management. She joined Mercator Advisors in 2008 as a Senior Associate and became a Principal of the firm in 2019. Her practice at Mercator includes both policy work related to revenue and financing mechanisms, as well as directly assisting state and local agencies with putting those tools into practice to advance major infrastructure projects. She provides project management and analytical support for the firm’s project finance and infrastructure development initiatives.
Ms. Reddick creates customized quantitative tools and data visualizations to help clients quickly understand quantitative information and utilize it to guide decision-making and advance projects. She has also developed and facilitated professional trainings on P3s and other finance topics for diverse audiences.
Ms. Reddick is currently a member of the National Academy of Sciences Transportation Research Board (TRB) Committee on Economics and Finance.
Bryan Grote, Treasurer
Bryan Grote has over 30 years of experience in federal finance and infrastructure policy. His background and expertise in federal budget issues, credit policies and management practices has enabled him to contribute to numerous financial policy analyses for government agencies and stakeholder groups.
Prior to co-founding Mercator Advisors in 2001, Mr. Grote served as senior advisor to the USDOT’s Assistant Secretary for Budget and Programs and Chief Financial Officer. In that capacity he coordinated legislative proposals, financial policies, special projects and new programs for the USDOT–including the design and implementation of the TIFIA credit assistance program.
As a principal of Mercator Advisors, he works with state and local governments to develop and implement financial assistance programs. He helps public sponsors of major projects design their plans of finance and identify sources of capital. He also advises clients on federal policies and assists with the development of financing strategies that can support their initiatives.
David Seltzer
David Seltzer, Principal, co-founded Mercator Advisors in 2001 with Bryan Grote. He has over 40 years of experience in public and project finance, advising governmental issuers on finance strategies and assembling debt financings. David spent two decades in public finance/investment banking, where he assembled and advised on transportation and infrastructure financings for E.F. Hutton, Lazard Frères and Lehman Brothers. He subsequently served as in-house financial advisor to the Federal Highway Administrator regarding development and implementation of “innovative financing” initiatives, including TEA-21 finance provisions (1996-1999). He played a central role in conceptualizing and implementing USDOT’s TIFIA credit program. At Mercator, David has advised on both specific transactions and federal and state policy initiatives.
David has taught graduate-level courses in finance and accounting at the Wharton School and the Fels Center of Government at the University of Pennsylvania and for the University of Southern California. He has served on the Executive Committee of the Transportation Research Board and has served as Chairman of the Board of Philadelphia Gas Works and currently chairs the Philadelphia Youth Sports Collaborative. David also serves on the boards of the Philadelphia Museum of Art and Starfinder Foundation.
Max Inman
Mr. Inman worked for the Federal Highway Administration (FHWA) for 33 years. Serving for 12 years as the Chief of the Federal-aid Financial Management Division, he was responsible for developing and administering financial policies for the Federal-aid Highway Program, including FHWA’s innovative finance programs. He has an extensive background in transportation policy, having been involved in the development and execution of transportation reauthorization legislation from the 1982 act to the 2005 act.
While serving as Chief of the Federal-aid Financial Management Division, Mr. Inman also served in an interim capacity as the Director of the Office of Fiscal Services with overall responsibility for FHWA’s budgeting, accounting and financial management activities; as the Chief of the TIFIA Joint Program Office overseeing the federal transportation credit program; and as FHWA’s Budget Officer with responsibility for the development and execution of FHWA’s $39 billion budget. Prior to his Washington Office assignment, Mr. Inman served in FHWA field offices in North Carolina, South Carolina, Washington, and Missouri, gaining on-site experience with issues relating to highway construction and the operation of state transportation agencies.