Sebastian Espinosa, Managing Director

Sebastian has more than 20 years' experience advising governments and central banks around the world on complex financial matters, and has led teams advising the sovereign debtor on a high proportion of the sovereign debt workouts taking place in the emerging markets in recent years.

Examples include leading the advisory teams providing expert financial advice on the debt restructurings of countries including Ecuador, Pakistan, Iceland, Barbados, Mozambique, the Dominican Republic, Seychelles, Grenada, Belize, and many others. Sebastian also provides financial advice in relation to the debt and other financial challenges faced by state-owned enterprises across all key industrial sectors, and has led pioneering work on climate financing (including debt-for-nature swaps). Sebastian also recently led the financial advice to a key private sector architect of the Transparency in Lending initiative now being spearheaded by the Institute for International Finance (IIF). Sebastian currently serves on the G7 private sector Working Group tasked with making recommendations to G7 ministers of finance in relation to certain aspects of the international financial architecture.

Prior to co-founding White Oak Advisory, Sebastian was a Managing Director with Houlihan Lokey's sovereign advisory team and, before that, a senior member of UBS Warburg's sovereign advisory practice. Sebastian started his career with The Economist Intelligence Unit and Fitch IBCA.

David Nagoski, Executive Director

David has provided advice to a host of sovereigns over the last two decades, ranging from Serbia and Jordan, to Iceland and several countries in the Caribbean and Africa. A former official of the US Treasury and the European Bank for Reconstruction and Development (EBRD), David is a co-founder of White Oak Advisory and has developed an unrivalled expertise in debt sustainability analyses and the execution aspects of complex sovereign bond restructuring operations.

David’s debt sustainability experience includes extensive work on debt crises under fixed and floating rate exchange rate regimes, as well as in the context of monetary unions. He often provides expert advice to governments under duress on the potential impact of debt restructurings on the balance-of-payments and fiscal accounts. David also frequently helps governments to assess the impact of sovereign debt restructurings on domestic banks, national insurance schemes, central banks, and other public enterprises. His work often extends to helping state-owned enterprises to clean up their balance sheets through negotiations with creditors and suppliers. He has extensive experience with the design and execution of arrears clearance strategies.

David holds graduate degrees from Harvard University and Dartmouth College.

Glenn Kim

Glenn is a senior executive with 30+ years of advisory and capital markets experience, having advised a wide range of corporates, banks, parastatals, and governments in Asia, the Americas, the Middle East, Africa, and Europe. He brings a long and demonstrable track record providing senior leaders of both private and public-sector enterprises in developed and less developed markets with relevant independent objective advice and applicable financial and capital markets-related expertise. His strong understanding of global macro landscapes and deep appreciation of how to drive outcomes within the operational confines of complex private and public sector-related entities, and especially those operating under adverse macroeconomic environments, has been particularly valued in connection with global financial crisis assignments, and more recently in his capacity as senior financial advisor to the Hellenic Republic, Republic of Iceland and the Federal Republic of Germany’s Finanzagentur. Glenn spent over 20 years at Lehman Brothers, and was a partner at Moelis & Co.

Vincenzo Zinni

Vincenzo is a senior capital markets and commodities banker, who started his career in 1997 on the emerging markets research team at Credit Suisse First Boston (CSFB), where he helped to build an econometric model able to predict emerging markets currency crises. He later moved to CSFB’s emerging markets sales and distribution team, where he held numerous positions, including head of CEEMEA sales and coverage — a position he held until 2014. In 2015 he joined the Noble Group, where he was head of Asia treasury and trade finance based in London, before moving to Singapore to run the group’s hard commodity treasury. In July 2017, Vincenzo left the Noble Group and returned to the UK to set up his own advisory business focused on commodity markets. Vincenzo is actively involved in EMpower, an emerging markets charity. He holds a Master in Economics from CORIPE in Turin, and a Degree in Economics and Banking from the University of Siena. He joined the TCX Pricing Committee in June 2014.