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Our Team: Senior Leadership

Our Team: Senior Leadership

Committed to helping better communities and the environment.

Our leaders are experts in the tax credit industry and among the top advisors in the country. They work closely with partners to leverage the power of tax credit programs and are committed to providing innovative financing solutions that enhance the growth and success of nonprofit and other mission-oriented organizations.


Zack Boyers Chairman and Chief Executive Officer

Zack Boyers
Chairman and Chief Executive Officer

Zack Boyers provides strategic direction and leadership to a team of more than 200 people who manage tax credit community development opportunities nationwide. He joined U.S. Bank in 1994 and has broad experience in commercial banking, community lending, structured finance and direct and fund investments in the tax credit arena.

Zack serves as a director on the boards of the National Equity Fund, St. Louis Regional Commerce & Growth Association, The Partnership for Downtown St. Louis and Crossroads College Preparatory School. He was a founding member of the Alliance for Economic Development and a member of the National Housing & Rehabilitation Association’s New Markets Tax Credit Steering Committee and the New Markets Tax Credit Coalition. He holds an MBA from Washington University and a BA with academic honors from Harvard University.


Beth Stohr Director of Low-Income Housing Tax Credit Investments

Beth Stohr
Director of Low-Income Housing Tax Credit Investments

Beth Stohr manages the Low-Income Housing Tax Credit (LIHTC) production staff. Beth has worked in real estate finance since 1982 and joined USBCDC in 1997. Prior to joining U.S. Bank, she managed the acquisitions of affordable housing investments for Boatmen's Bank (now Bank of America). Her experience includes loan production and management of commercial real estate portfolios for Continental Bank – Chicago (now Bank of America), Boatmen’s Bank – St. Louis (now Bank of America) and Mercantile Bank – St. Louis (now U.S. Bank). She also worked in production for a Fannie Mae-delegated underwriting and servicing lending entity. Beth served as the 2008 President of the Affordable Housing Investors Council and currently serves on its board. She also serves on the board of the Affordable Housing Tax Credit Coalition and on the board of the Regional Housing and Community Development Alliance, a St. Louis nonprofit affordable housing developer. Beth holds a master's in management from Kellogg School of Management, Northwestern University.

 

Meet Our Low-Income Housing Tax Credit Team


Matt Philpott Director of New Markets, Historic, and Renewable Energy Tax Credit Investments

Matt Philpott
Director of New Markets, Historic, and Renewable Energy Tax Credit Investments

Matt Philpott manages the New Markets Tax Credit (NMTC), Historic Tax Credit (HTC) and Renewable Energy Tax Credit (RETC) production staff. He oversees the origination, underwriting and approval of all investments, as well as the evaluation of the impacts those investments have on communities. Prior to joining USBCDC in 2005, Matt had more than a decade of construction management and real-estate development experience. He holds an MS from the University of California-Davis and a BA from Wesleyan University.


Meet Our New Markets Tax Credit Team

Meet Our Historic Tax Credit Team

Meet Our Renewable Energy Tax Credit Team


Bill Bayer Director of Syndications and New Business Initiatives

Bill Bayer
Director of Syndications and New Business Initiatives

Bill Bayer oversees our federal and state syndications division and new business initiatives team. Most recently, Bill acted as vice president of new business initiatives, researching and evaluating new financial structures, partnerships, and opportunities to strengthen USBCDC's overall platform. During his more than 4 years at USBCDC, Bill has also served as a NMTC and HTC project manager, investing more than $140 million of tax credit equity in support of businesses and real estate developments across the country. In St. Louis, Bill has been instrumental in financing the redevelopment of the former St. Louis Centre Mall and its adjoining One City Center office tower, which are major components of the Mercantile Exchange (MX), an emerging residential, shopping, and entertainment district in downtown. He currently sits on the board of the National Blues Museum, which will open in the MX in 2014. Prior to joining USBCDC, Bill worked for 7 years in the audit and tax departments at Ernst & Young. He holds a BS in Accounting and a BA in Communications from Saint Louis University and is a certified public accountant.

 

Meet Our Syndications Team


Kristy Carstensen Chief Financial Officer

Kristy Carstensen
Chief Financial Officer

Kristy Carstensen manages accounting, accounting policy, financial planning and forecasting, treasury, tax, information technology, training and administration. Prior to joining USBCDC in 2011, Kristy worked for the Federal Home Loan Bank of Des Moines for eight years, most recently as the vice president and controller responsible for accounting, external reporting and accounting policy. Earlier, she spent five years with KPMG as an auditor in public accounting. Kristy is a certified public accountant and a member of Financial Executives International.


Kris Switzer Head of Asset Management

Kris Switzer
Head of Asset Management

Kris Switzer oversees all aspects of LIHTC, NMTC, RETC and HTC asset and risk management activities for USBCDC and USBCDE, the Community Development Entity of USBCDC. Kris joined USBCDC in 2004 and began her career with us as a NMTC and HTC project manager, structuring, negotiating and underwriting over 50 complex NMTC and HTC transactions for projects nationwide. She most recently served as director of NMTC, HTC, and RETC asset management for three years. From 1997-1999, Kris worked for U.S. Bank (through Mercantile and Firstar) as a commercial banking officer. She also has over five years of experience in commercial real estate thanks to her career as a senior mortgage representative at The Principal Financial Group in Des Moines, Iowa. Kris holds a BS in Business Administration - Actuarial Science from the University of Nebraska-Lincoln and practiced as an actuary for two years.

 

Meet Our Asset Management Team


Clare Higgins Community and Media Relations Manager

Clare Higgins
Community and Media Relations Manager


Michelle Kostich Executive Administrative Assistant

Michelle Kostich
Executive Administrative Assistant

Equal Housing Lender Equal Housing Lender

U.S. Bank and its representatives do not provide tax or legal advice. Each tax and financial situation is unique. Consult your tax and/or legal advisor for advice and information concerning a particular situation.

U.S. Bank is not responsible for and does not guarantee the products, services or performance of its affiliates and third parties.

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