BUSINESS LEADERS

Dan Hermann joined Ziegler in 1987. In 2018 he was named President and CEO. He also is the Head of Investment Banking, a member of the Ziegler Board and Executive Committee. As the Head of Investment Banking, Dan is directly responsible for managing Ziegler’s Investment Banking activities. He not only fosters the growth of existing practices, but also pursues potential new practices. With a focus on cross-practice collaboration, he plays on active role in maximizing synergistic opportunities across all investment practices, especially within the healthcare and senior living sectors.

As the head of both the healthcare and senior living practices, Dan was instrumental in the creation of and fundraising for the Ziegler Link•Age Longevity Fund, L.P. (the “Fund”). The Fund is one of the first to focus on the aging market and companies that provide innovative products, services and technologies to meet the growing needs of seniors and senior living providers in this changing era of healthcare reform.

During his 30-year tenure with Ziegler, Dan has become a leading investment banker in the senior living industry. He has structured and led or co-led more than 325 senior living financings exceeding $8.2 billion, cumulating far-ranging experience in the management, structuring and financial analysis of every type of senior living financing.

Dan has utilized his expertise to create financing structures for a large clientele – from stand-alone nursing homes to multi-facility, multi-state systems, including start-up campuses and campuses undergoing major renovation projects. His particular emphasis in recent years has been to provide resources for key decision-makers in an organization to effectuate sound financial and strategic planning initiatives. To that end, Dan has assisted numerous multi-facility systems in their corporate planning efforts. When appropriate, he assists these and other organizations in the structuring of their financings and has developed financing alternatives using the broadest range of financing structures available to maximize yields and flexibility for his clients: traditional fixed rate issues, credit enhanced variable rate structures, extendable rate unenhanced issues, derivative applications, and off-balance sheet financings. Prior to joining Ziegler, he worked for a “Big Four” public accounting firm.

Dan currently resides on a number of investment committees, including the Ziegler Link•Age Longevity Fund, and is on the Advisory Board for Caremerge and the Board for Masterpiece Living. In October 2005, Dan was named to the Contemporary Long Term Care 2005 CLTC Power & Influence Top 25 listing, the magazine’s selection of today’s decision makers “who hold the reins and help shape the path” for senior living. He has lectured at Harvard and internationally on senior living finance (its historical trends, strategic positioning issues, growth potential and other), and served as a member of the CARF-Continuing Care Accreditation Commission’s Financial Advisory Panel.

Dan received a B.S. in finance and accounting from Illinois State University, Normal, Illinois, and an M.B.A. with an emphasis in health services management from Kellogg Graduate School of Management at Northwestern University, Evanston, Illinois. He is a Certified Public Accountant and holds a number of securities certifications.

Neil Borg joined Ziegler in 2006. As a senior managing director, he is responsible for the management of the firm’s M&A advisory practice focusing on healthcare services and information technology. Neil also focuses on Ziegler’s for-profit strategic advisory and principal investing efforts and is a managing partner of the Ziegler Linkage Longevity Fund. 

Prior to joining Ziegler, Neil was in the Healthcare Services Investment Banking divisions of J.P. Morgan (previously Chase H&Q and Hambrecht & Quist) and Friedman, Billings, Ramsey & Co. While at Hambrecht & Quist, Neil was a partner in an affiliated venture capital fund, H&Q Serv*s Ventures, focused on early stage healthcare investments on behalf of Hambrecht & Quist and Johnson & Johnson.

Over his career, Neil has completed over 70 transactions including strategic advisory assignments, public and private equity financings and equity investments principally for emerging growth, middle market companies in the healthcare services and healthcare information technology sectors. In addition, Neil was most recently on the Board of Directors of Auditz, LLC prior to its sale to Transunion, LLC in 2016; on the Board of Directors of Ingenios, LLC prior to its sale to Almost Family in 2015; and on the Board of Directors of Certify Data Systems, Inc. prior to its sale to Humana Inc. in 2012.

Neil earned an M.B.A. from Columbia Business School and a B.A. in economics and minor in philosophy (cum laude) from Denison University.

Miyun Cho Fellerhoff joined Ziegler in 2014. As a managing director, she is responsible for the management of the firm’s general municipal and structured finance practice.

Prior to joining Ziegler, Miyun was a managing director at Stern Brothers & Company where she developed and maintained client relationships in the general municipal, project finance, healthcare, higher education and not-for-profit sectors, resulting in sole, senior or co managed underwriting assignments. Throughout Miyun’s career, she has held similar high-level positions at GE Capital, Chicago Housing Authority, MB Beitler Company and First Chicago Capital Markets, Inc.

Miyun completed coursework toward a Ph.D. in finance from the University of Indiana School of Public and Environmental Affairs, a M.A. in public administration from The University of Akron, a M.P.A from American University and a B.S./M.D. from Northeast Ohio Universities College of Medicine. 

John Hanley joined Ziegler in 2003. As senior managing director and head of healthcare finance, he is responsible for the management and direction of the healthcare practice line. John has more than 20 years of experience providing a broad range of capital market solutions and strategic, financial advisory services to clients throughout the country. His clients consist of large regional healthcare systems and independent community hospitals.

Over his career, John has structured a diverse number of tax-exempt and taxable debt solutions. In addition, he has provided unique and innovative capital solutions for complex projects,­­ which include the use of off-balance sheet financing and sale-leaseback structures. Most recently, he has spent a considerable amount of time on strategic planning discussions with clients resulting in his participation in acquisitions.

Prior to joining Ziegler, John was a co-head of healthcare for the investment banking division of National City Bank. He received his B.A. from the University of Detroit in Michigan.

Dan Revie has been with Ziegler for over 23 years. As a Managing Director and practice head, he is responsible for the management of the firm’s Senior Housing & Care Finance Practice. Dan specializes in strategic advisory assignments including: mergers, acquisitions, divestitures, and recapitalizations for healthcare entities including: skilled nursing, assisted living, memory care facilities, and entrance fee and rental Continuing Care Retirement Communities (CCRCs)/ Life Plan Communities (LPCs).

During his 20+ years with Ziegler, Dan has completed M&A assignments for public, private, and non-profit organizations. Dan has also been involved with recapitalization assignments for large assisted living and skilled nursing portfolios. He has frequently represented Ziegler’s nonprofit clients with divesting non-core assets. Recently, Dan and his team have been heavily involved with distressed situations in the senior and long-term care living space, including bankruptcies. Dan also has extensive experience with FHA/HUD financing programs.

Dan has been frequently quoted in senior housing and long-term care publications and is a frequent speaker at industry conferences.

Dan’s background is in accounting. Prior to joining Ziegler he worked for PriceWaterhouseCoopers (PWC) as an audit manager, as well as an accounting manager for Northwestern Mutual.

Dan holds undergraduate degrees in both accounting and finance from the University of Wisconsin – Madison, and an M.B.A. from the University of Wisconsin – Milwaukee. Dan has also passed the Certified Public Accountant (CPA) exam. 

Brian Riordan joined the higher education team at Ziegler in 2013. As a managing director, he is responsible for the management of the higher education practice.

Brian has an extensive finance and development background in higher education and in advising higher education borrowers on the implementation of complex financing structures. He brings a wealth of knowledge specifically from the higher education sector, as well as public finance and commercial banking experience spanning more than 18 years. He has managed a wide variety of bond structures and security pledges, ranging from fixed-rate revenue bond issues, private placements and advisory work, to more complicated engagements such as variable rate obligations, interest rate swap and other derivative products, synthetic advance refundings, and off-balance sheet student housing and development projects.

Throughout his career, Brian has worked with institutions such as Anderson University, Averett University, Wright State University, West Virginia University, Saint Vincent College, Point Park University, Asbury University, Quincy University, Tusculum College, Saint Joseph’s College of Maine, Bryan College, and Dominican University.

Brian earned an M.B.A. from John Carroll University and a B.B.A. in Finance from Ohio University. Prior to joining Ziegler, Brian worked for Huntington Investment Company, GE Capital Public Finance, and JP Morgan Chase.

Scott Rolfs joined Ziegler in 1992. As a Managing Director, he is responsible for the management of the K-12 & Charter School facilities finance team. Scott works directly with educational organizations nationwide in addition to responsibilities managing the overall group. He is involved in day to day operations as it relates to Ziegler’s underwriting capabilities for private K-12, charter schools and faith-based organizations. During Scott’s tenure as manager, his practice lines at Ziegler have financed in excess of $4.0 billion for non-profit organizations nationwide.

This broad experience allows him to be well versed in many different modes of financing solutions for borrowers, including tax-exempt bonds, taxable bonds, bank structures and early stage seed capital finance. He can also provide advice and guidance on interest rate hedging strategies, debt capacity and derivative instruments.

Scott has a strong background in project finance, assisting borrowers with project planning including site selection, construction, zoning and land entitlement issues. His focus is to help borrowers achieve a successful outcome to their facilities project.

Scott is a well-known author on topics related to 501(c)(3), educational and faith based organizations. He has been frequently quoted on finance topics in many national media organizations including the Wall Street Journal, NPR, The Bond Buyer, The Los Angeles Times and the Atlanta Journal Constitution, among others.

Scott received his B.S. in business and economics from Ripon College and a Juris Doctorate from the University of Wisconsin.

Kevin Strom is an executive managing director and head of Ziegler Capital Markets (ZCM). In his role, Kevin is responsible for all aspects of institutional sales, trading, underwriting and operations of ZCM. Kevin serves on Ziegler’s Executive Committee and also serves on Ziegler's Board of Directors.

Kevin joined Ziegler’s sales team in 2007 and rapidly became the national sales manager. At the direction of the Ziegler Board of Directors and Ziegler senior management, he was tasked with building out a more robust fixed income capital markets presence for Ziegler. Through market crisis and its aftermath, ZCM has grown to a team of well over 30 fixed income professionals.

Kevin has spent the last 36 years developing, growing and managing fixed income trading and sales teams in Chicago. Prior to joining Ziegler, he held institutional sales and overall department management roles at Griffin, Kubik, Stephens & Thompson, Inc., LaSalle/ABN AMRO and Dain Rauscher, Inc./RBC Capital Markets.

Kevin received his bachelor of science degree in 1981 from Wheaton College with a degree in political science.

Kevin holds Series 7, 24, 52, 53, 63, and 99 licenses.

Nancy Infelise joined the sales and trading team at Ziegler in June of 2009 as a secondary municipal trader. She has over 20 years of trading experience, most recently at Fifth Third Securities and also Legg Mason and Kemper Securities.

Nancy has a degree in economics from University of Illinois and an M.B.A. from Northwestern University’s Kellogg School of Management.

Craig Naish joined the capital markets team at Ziegler in 2001. Craig is a managing director and heads the Interest Rates & Structured Products trading desk for Ziegler Capital Markets. He has served as a senior vice president, managing the variable rate demand bond (VRDB) book and as a director, overseeing all short-term trading until his appointment to Managing Director in 2010. In his tenure with Ziegler, Craig has overseen the pricing and placement of over $9 billion in short-term fixed income product originated by the firm’s investment banking team, implemented a fully integrated and electronic trading platform for variable interest rate, distressed structure & asset-backed securities, and cultivated key relationships with institutional clients and financial counter parties. He is directly responsible for managing ZCM’s Interest Rates & Structured Products trading desk and also serves as a senior member of the capital markets strategy committee.

Craig began his career in 1996 as a junior trader with Banc One Capital Markets (now JP Morgan) working primarily with the funding and rates desk until promoted to associate director of the Structured Products group where he played a key role in daily interest rate risk trading, product distribution and the creation and execution of the proprietary Municipal Trust Certificate (MTC) Program. In 1999, with the acquisition of First Chicago Bank, he relocated to Chicago to assume a lead role in the consolidation of trading platforms, the placement of over $16 billion in short-term fixed-income securities and derivatives, and the daily market making activities for the firm’s institutional and middle market accounts.

Craig earned a bachelor’s degree in economics from The Ohio State University, Columbus, OH. He is a weekly volunteer tutor and mentor for the Chicago Lights tutoring program and has served as an officer on the boards of the University of Chicago Booth School of Business Partners’ Club and Chicago Lights. He is a FINRA registered representative, a principal, and a member of other industry and professional organizations.

Ms. Schmitz is the Head of Principal Investing and Fund Management at Ziegler and the Chief Administrative Officer of the Ziegler Link•age Funds, a venture capital fund family with an investment policy designed to support innovation, collaboration and growth among entrepreneurs and senior living and healthcare providers.

With over 10 years of operating and investing experience, she oversees both operations, and development and execution of the Ziegler Link•age Fund’s strategic value proposition. She also manages the funds’ investment pipeline and leads investment execution, including holding investment committee seats in four venture funds representing, in aggregate, over $150mm in commitments. As a strategic investor, Ms. Schmitz takes an active role with many of the companies in which the Ziegler Link•age Funds have invested, including holding seats on four portfolio company Boards of Directors, Smartcare Software, Cosan, LifeSite, and Embodied Labs.

Ms. Schmitz has a strong foundation in US GAAP, internal controls, and mergers and acquisitions through her experience working in the Audit and Transaction Advisory practices of Grant Thornton. She earned a BBA in accounting and Masters of Accountancy from the University of Wisconsin – Madison, is a Wisconsin Certified Public Accountant and maintains Series 7 and 24 securities licenses.