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Indiana Finance Authority Members

Ryan C. Kitchell (Chairman):

Ryan C. Kitchell was named Director of Indiana's Office of Management and Budget (OMB), reporting to Governor Mitch Daniels effective June 1, 2007. Prior to this role, Mr. Kitchell served as the Public Finance Director of the State of Indiana from January 2005 through May 2007. 

Prior to assuming his responsibilities with the State of Indiana, Mr. Kitchell served in various corporate treasury and controllership roles at Eli Lilly and Company. Preceding his job at Eli Lilly, Mr. Kitchell was a Research Associate for the Indiana Fiscal Policy Institute. Prior to this position, Mr. Kitchell was a Senior Analyst for Prudential Capital Group, a merchant banking arm of Prudential Insurance.  Mr. Kitchell holds an economics degree with high distinction from Indiana University. He received a Masters of Business Administration degree from the Tuck School of Business at Dartmouth, graduating as an Edward Tuck Scholar. Mr. Kitchell also holds the Chartered Financial Analyst (CFA) designation.

Mr. Kitchell currently serves as Chairman for the Indiana Finance Authority and is a board member of the Public Employees Retirement Fund, Teachers Retirement Fund, Education Savings Authority, the Indiana Seed Fund and the Indiana Deferred Compensation Committee. Mr. Kitchell is also involved in various philanthropic endeavors and currently serves as Treasurer of the Caleb Mills Organization and on the executive committees for Indiana Council for Economic Education and the Indianapolis Big Ten basketball tournament.

Mark Ryan (Vice Chairman):

Mark Ryan recently retired as an executive from Eli Lilly & Company, where he served as an executive for 20 years. He began his career at Price Waterhouse Coopers in 1973. In 1978 he joined Data Graphics as a manager of finance. In 1981, he joined Eli Lilly and served in several capacities until his retirement in 2001. Among his many positions, he served as Corporate Controller and CFO of IVAC Corporation. Mr. Ryan received his B.S. from the University of California, Berkley and an MBA from Harvard Business School. He is a Certified Public Accountant.

Mr. Ryan was appointed as a member of the IFA in May 2005; his appointment is effective until May 15, 2011.

Richard Mourdock (Member):

Richard Mourdock was elected as Indiana State Treasurer in 2006. He is a business leader and scientist with a 30-year record of success in the Hoosier energy, construction and environmental industries.

Richard served two terms as County Commissioner of Vanderburgh County (1995 to 2002), where he gained a reputation as a results-oriented leader by setting goals and measuring progress. As State Treasurer and Chairman of the Indiana Bond Bank, Richard plans to use his experience to assist local governments in financing needed infrastructure. He also is committed to helping provide continuing education to county and municipal finance officials charged with investing local tax dollars.

Mr. Mourdock holds a M.S. degree in Geology from Ball State University and a B.S. degree from Defiance College in Ohio. He is a licensed Professional Geologist. During his time as County Commissioner, he became and continues to be self-employed as a private consultant in the environmental and energy businesses. Prior to beginning his consulting practice, he spent 16 years as a top executive with Koester Companies, Inc. Mr. Mourdock and his wife, Marilyn, live near Evansville, Indiana. 

Mr. Mourdock, as the State Treasurer, is a statutorily required IFA member.

Bud Melton (Member):

Owen B. (Bud) Melton, Jr. retired on December 31, 2003 as President and Chief Executive Officer and a member of the Board of Directors of First Indiana Bank, N.A., a national bank, and as President and Chief Operating Officer and a member of the Board of Directors of First Indiana Corporation. Before being elected President of First Indiana in October 1983, Mr. Melton held the position of Chairman, President and Chief Executive Officer of Diamond Savings and Loan Company, Findlay, Ohio. Prior to his arrival at Diamond Savings and Loan Company, Mr. Melton held the position of Executive Vice President and Chief Operating Officer of Skokie Federal Savings and Loan Association, Skokie, Illinois.

Before his experience at Skokie Federal, Mr. Melton served as the Assistant to the Chairman and Chief Administrative Officer of the Federal Home Loan Bank Board in Washington, D.C. The Federal Home Loan Bank Board was the predecessor independent federal agency to the current Office of Thrift Supervision of the Department of Treasury. As Chief-of-Staff of the Federal Regulatory Agency charged with the supervision and regulation of all federally-insured and federally-chartered savings and loan associations in the nation, his responsibilities included the Federal Savings and Loan Insurance Corporation, the Federal Home and Mortgage Corporation, the Neighborhood Reinvestment Corporation and the twelve regional Federal Home Loan Banks.

A graduate of Indiana University, Mr. Melton received a B.S. degree in Finance. He completed the graduate program of the Graduate School of Savings and Loan at Indiana University, Class of 1982, and was elected President of his class. Mr. Melton served in the active duty of the U.S. Air Force in various Air Force bases including California, Okinawa, Republic of South Vietnam, Thailand and Delaware.

Mr. Melton was reappointed in May 2006 to continue his service as an IFA member through May 15, 2010.

Steven R. Schultz (Member):

Mr. Schultz is currently First Vice President and General Counsel with Irwin Financial Corporation. In September 2004, Governor Mitch Daniels appointed Mr. Schultz as his General Counsel -- a position he held until January 2006, when he returned to Irwin Financial. He originally joined Irwin Financial in 2001 and was eventually named General Counsel of the company. Prior to his time at Irwin Financial, he practiced law at Fried, Frank, Harris, Shriver and Jacobson, where, as a corporate associate based in London, he specialized in cross-border mergers and acquisitions and capital markets financings. Just out of Law School, he practiced law at Barnes & Thornburg in Indianapolis for six years.

Mr. Schultz graduated from Manual High School, Indianapolis, in 1984. He attended Butler University, where he studied history and political science and played intercollegiate football on two Heartland Conference championship teams. After graduating summa cum laude from Butler in 1988, he served as an aide to Governor Bob Orr until the end of the Orr Administration in January 1989.

Mr. Schultz was appointed as a member of the IFA in August 2006. His term as a member of the IFA will be effective through May 15, 2011.