Directors & Executive Management

Directors and Executive Management of the Bond Bank

MCG headshot

Michael Gaughan

Executive Director
t:(802) 654-7377

Mr. Gaughan is a resident of Winooski, Vermont. He became Executive Director and Secretary of the Bank and Executive Director of the Vermont Educational and Health Buildings Financing Agency on January 2, 2018.  He was previously a Director and a Public-Private Partnerships Manager for a national community development finance nonprofit. He also has related experience as a public finance banker focused on governmental, housing, and community facilities transactions. Mr. Gaughan earned a Bachelor of Arts degree from Middlebury College and a Master of City Planning degree from the University of Pennsylvania.

Elizabeth Pearce

Ex-Officio Member

Treasurer Pearce is a resident of Barre, Vermont and has more than 30 years of experience in government finance at both the state and local levels.  She served as Vermont’s Deputy Treasurer for more than seven years before assuming her current role as Treasurer.  Prior to joining the Vermont State Treasurer’s Office, she served as Deputy Treasurer for Cash Management at the Massachusetts State Treasurer’s Office from 1999-2003; Deputy Comptroller for the Town of Greenburgh, New York; and Accounting Manager and Financial Operations Manager for the Town of West Hartford, Connecticut.  In addition, she has served as a fiscal officer with the Massachusetts Department of Social Services and as a project director for the Massachusetts Executive Office of Human Services.  Ms. Pearce has a Bachelor of Arts degree from the University of New Hampshire.

David Kimel


Mr. Kimel is a resident of the City of St. Albans, Vermont. He is a retired broadcast group owner and business consultant. He is a member of the Vermont Association of Broadcasters Hall of Fame. He is currently the Manager of the Collins Perley Center. Mr. Kimel also sits on the District Six Environmental Board. He holds a Bachelor of Science degree in Business Administration.

Deborah Winters


Ms. Winters is a resident of Swanton, Vermont and an owner of Firetech Sprinkler Corp. She is a member of the board of Directors of the Champlain Valley Exposition. She holds a Bachelor of Science degree in Civil Engineering and Operations Research from Princeton University and a Master of Business Administration from Boston University

David Coates


Mr. Coates is a resident of Colchester, Vermont and a retired partner in the Burlington office of KPMG. He is a past president of the Vermont Society of CPA’s and currently serves on the Governor’s Council of Economic Advisors. He is a member of the Board of Directors of Green Mountain Power and is also on the Board of Directors of National Life of Vermont.

Mary Alice McKenzie


Ms. McKenzie is a resident of Colchester, Vermont and is a consultant.  She was formerly the Executive Director of the Boys and Girls Club of Burlington, General Counsel to the Vermont State Colleges, and CEO of McKenzie of Vermont. Ms. McKenzie holds a Bachelor of Arts degree in Business Administration from St. Mary’s College and a Juris Doctor degree from Valparaiso University School of Law.