Education
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Boston College, M.B.A., 1994
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Ohio State University, B.S.B.A., 1987
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Michael Scott advises clients on a range of strategic and structural issues principally related to credit, capital, restructurings, privatizations, government sponsored enterprises (GSEs), bailouts/rescues and infrastructure investments involving the U.S. government and other sovereigns, applying his deep experience and expertise in the following areas:
- Federal credit policy and practices (including Federal Credit Reform Act, OMB Circulars A-11 and A-129, rules and regulations)
- Structuring, negotiation and execution of federal loan guarantees and direct loans
- Policy, structuring and implementation of crisis-related bailouts, rescues of private and public entities, and exit strategies for federal financial assets
- Policy (public and regulatory), funding, capital and risk management issues involved with GSEs (including Fannie Mae, Freddie Mac, FHLBs and the Farm Credit System) and government corporations
- Restructuring of federal entities and private sector firms with federal credit/capital
- Policy, structure and execution of federal asset privatizations involving government operations and infrastructure
- U.S. government financial policy and budget-related policy
- Policy and regulatory issues in financial markets
Before joining Patton Boggs, Mr. Scott served in senior leadership positions within the U.S. government and in the private sector. While at the Department of the Treasury (2001-2006), he served as a senior advisor with policy and execution responsibility for federal credit policy and programs, federal credit transactions and the Federal Financing Bank. He was also responsible for federal and private sector restructurings, financial asset sales, privatizations, federal infrastructure options and financing, and a variety of government financial policy and budget-related issues. Mr. Scott advised three foreign governments on sector restructurings and government credit and capital initiatives. He also advised the Office of the U.S. Trade Representative on subsidy-related issues. In 2002, President Bush nominated Mr. Scott to serve as a member of the Board of Directors for the National Cooperative Bank (NCB). During his tenure, Mr. Scott served on the audit and risk management committee of the Securities and Exchange Commission (SEC) registrant and was instrumental in restructuring the debt NCB owed to the U.S. government.
As a senior adviser to the SEC chairman during the financial market crisis in 2008-2009, Mr. Scott advised both Chairman Cox and Chairman Schapiro on their statutory responsibilities related to the Financial Stability Oversight Board (FinSOB) and the Federal Housing Finance Oversight Board (FHFOB). His role advising the chairmen on FinSOB focused on the exercise of authority under the Emergency Economic Stabilization Act of 2008 and the development of exit strategies for the financial interests obtained under the Troubled Asset Relief Program (TARP). While providing guidance on FHFOB to the chairmen, Mr. Scott’s role focused on the conservatorships of Fannie Mae and Freddie Mac, secondary mortgage market policy and the risk management and policy issues related to the Federal Home Loan Banks. In addition, he advised Chairman Cox on financial market crisis-related issues, including credit derivatives, short selling and the congressionally mandated Fair Value Study.
Prior to his work for the SEC (2006-2008), Mr. Scott was managing director and head of the U.S. Government Entities investment banking business at Banc of America Securities, LLC. He advised private sector counterparties of the U.S. government on federal loans and loan guarantees and advised GSEs on capital raising, risk management and regulatory issues. In addition, he advised the U.S. government on a range of market, credit, budget, infrastructure and risk management issues.
After leaving the SEC, Mr. Scott was a partner and managing director at Miller Buckfire & Co., LLC, as well as head of the firm’s U.S. Government Advisory practice. He advised clients on a range of federal credit and restructuring issues.
Professional Affiliations:
- Member, CFA Institute (2000-present)
- The North Carolina Society of Financial Analysts, Inc. (2000-present)
- Member, Board of Directors, National Cooperative Bank (2002-2006)
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