Executive Management

Monte L. Miller

Founder & Executive Chairman

Monte Miller has over 45 years investment management and trust banking experience. Prior to founding The KeyState Companies in 1991, he served as SVP and Trust Division Manager for Valley Bank of Nevada (now Bank of America Nevada). Monte holds a B.S. in Business Administration from the University of Nevada Reno and his M.A. in Economics from the University of Nevada Las Vegas. He currently serves on the Board of Directors and as Treasurer of Keystone Corporation, an organization that promotes a business-friendly environment in the State of Nevada. Outside of his leadership role at KeyState, Monte has been active throughout his career, serving on corporate and community boards. Some of these include the Nevada Development Authority, the University of Nevada, Reno Foundation, the College of Southern Nevada Foundation, and the Federal Home Loan Bank of San Francisco.

Joshua C. Miller

Chief Executive Officer

Josh Miller has served as CEO of The KeyState Companies since 2011, first joining the firm in 1998. KeyState works with over 130 community and regional banks across the US, managing their tax-advantaged investment and insurance structures. Under his leadership, KeyState’s registered investment advisory business has grown assets under management to over $17 billion. In 2019, Josh launched KeyState’s SOLCAP solar tax credit investment platform, which sources, deploys and manages solar tax credit investments for community and regional banks. To date, SOLCAP has raised and deployed over $350 million in solar tax equity, financing over 60 solar projects throughout the US. He received his B.A. in economics and foreign affairs from the University of Virginia and serves in board and leadership roles with various companies, industry groups, and non-profit organizations.

Nick Miller

President & Chief Operating Officer

Nick Miller joined The KeyState Companies in 2007 as a management analyst and has worked in various areas within the firm during his tenure. Nick currently serves as Executive Vice President & Chief Operating Officer, leading all efforts in operations management, IT, and human resources. He received his B.S. in Business Administration with an emphasis in Finance from Brigham Young University.

Larry M. Wood

Evp - financial institutionS group

Larry Wood joined The KeyState Companies in 2008 with 20 years of capital markets experience. As EVP of the Financial Institutions Group, he is a senior member of the team of investment officers. Previously, Larry served as the corporate investment portfolio manager for Associated Bank (a $21 billion regional bank) and prior to this ran the fixed income investment portfolio for the Employees Retirement System of Texas. He holds an MBA from the University of Texas, a BSBA in Finance & Banking from the University of Arkansas, a Certified Treasury Professional accreditation from the Association of Financial Professionals, and Series 7 & Series 66 licenses.

David Guerino


David Guerino joins KeyState with over 22 years of captive management experience. Prior to joining the team, David held the roles of Managing Director and Senior Account Executive while the captive practice managed 140 captives and he worked through various captive phases, including, captive feasibly, implementation and ongoing management. David has managed pure captives, protected cell companies, risk retention groups, association captives, industrial insureds, rent-a-captives and public entity pools. Industry experience includes real estate, REITS, construction, healthcare, financial institutions, insurance companies, retail, manufacturing, energy and public utilities. David holds a Bachelor of Science Degree in Account from Champlain College and he has served on the Vermont Captive Insurance Associator conference committee and has served as a participant on a number of conference panels.

Brian Amend

EVP – Operations and Administration

Brian Amend joins KeyState with over 25 years of service in senior leadership positions in government and business. In addition to working at KeyState, he is a Colonel in the Marine Corps Reserve. Brian spent ten years as a logistics officer before transferring to the Reserves. He left active duty to pursue additional education and serve in business leadership positions at various institutions, including Amazon and DynCorp International. During his time at DynCorp, Brian worked in Afghanistan as the Site Manager, leading nearly 3,000 employees of the largest camp supporting US Marines. He holds a B.S. in Business Administration-Finance from the University of Nevada, Las Vegas, an MBA from the Kogod School of Business at American University, Washington, D.C, and has his Series 65 license.

Steve Hibbard


Steve Hibbard joined KeyState Renewables in 2021 with a wealth of solar project finance experience from the perspective of the solar developer and the tax-equity investor. In previous roles, Steve closed numerous tax equity financing transactions, investing more than $400 Million of tax equity across 500MW+ of utility-scale, distributed generation and residential projects. With KeyState, Steve leads developer relationship management and outreach, all aspects of underwriting and deal negotiation, and solar project asset management. He earned his undergraduate degree in Economics from Williams College followed by an MBA from the Wharton School at the University of Pennsylvania and an MA in Japanese.


Ivan Farris

SVP - Financial InstitutionS Group

Ivan Farris joined The KeyState Companies as Vice President in the Financial Institutions Group in October 2011 following KeyState's acquisition of M&I Portfolio Services from BMO Financial Group. Ivan joined M&I Portfolio Services in 1995. Ivan holds the position of President and Investment Officer for numerous investment subsidiaries of financial institutions and corporations. Ivan received his B.S. from the University of Nevada, Las Vegas in 1988. After college, Ivan spent 7 years at Valley Bank of Nevada and Bank of America where he performed supervisory, audit, conversion, and settlement functions.

David Oceguera


David Oceguera joined KeyState in 2023 with over 6 years of experience in fixed income portfolio management. Prior to joining KeyState, David served as an Investment Manager with Wells Fargo Wealth Management in Long Beach, CA, where he served individual, trust, charitable, and pension clients. He has a Bachelor of Science in Finance from California State University of Long Beach. David also was awarded the CFA charter in February 2022. As a member of KeyState’s investment management team, David co-manages a group of investment subsidiary client and captive insurance client portfolios.

Ronald V. Samuels

Managing Director and Investment Officer – Delaware

Ronald V. Samuels joined KeyState in 2022 with over 35 years of service in senior leadership positions in banking and finance. Ronald spent eighteen years as the Senior Vice President, Treasurer, and Director of Capital Markets at Wilmington Savings Fund Society, FSB. In addition to his employment at KeyState, Ronald serves as a Trustee on the Delaware Historical Society. He holds a B.S. in Political Science from the University of Delaware and a M.S. – Finance from the University of Delaware.


Julia Ryan

Senior Manager, Renewables Finance

Julia Ryan joined KeyState in May 2023 with 10 years of energy solutions experience in project finance and accounting. Prior to joining KeyState, Julia spent 5 years supporting solar project development by providing financial modeling and analysis along with transactional support and diligence for diversified Greenfield and M&A portfolios. She holds a Master of Business Administration degree with a concentration in Business Finance from the University of North Carolina at Charlotte. As a member of KeyState’s renewable finance team, Julia is primarily responsible for supporting tax equity structuring, negotiations, execution, and project finance modeling.

Patrick Hidden

Director – Renewables Finance

Patrick Hidden joined KeyState full-time in 2017 after 14 months as an Investment Intern. Patrick currently serves as Director-Renewables Finance supporting KeyState’s Renewables group in deal execution, due diligence, and underwriting in relation to the solar tax equity platform. Prior Patrick worked in the Financial Institutions Group as an Investment Officer. Patrick received his BS in Business Administration with an emphasis in Finance from University of Nevada Las Vegas and has his Series 65 license.

Shemree Naegele

Group Controller - Renewables

Shemree Naegele, CPA, joined KeyState in 2022 as a seasoned financial expert with 17+ years of experience. With 7 years in public accounting, Shemree has mastered financial reporting and compliance. As an Internal Audit Director for 5 years, she enhanced risk management at a community bank. In her years as a Controller, Shemree streamlined financial operations and guided budgeting. Her leadership and dedication to excellence make her a trusted resource for strategic financial guidance. Shemree received her MAcc from Southern Utah University.


Alicia Huskes

VP, Captive Client Services

Alicia Huskes joins The KeyState Companies with over 14 years of captive experience. Her most recent role was managing junior account managers to meet deadlines and client objectives while supporting financial statement preparation for pure captives and risk retention groups. Alicia was the principal client liaison for all matters, including annual audits, regulatory files, period state examinations and presenting in numerous Board meetings. Alicia received a Bachelor of Science Degree in Accounting in 2006 and attained the Associate in Captive Insurance (ACI) designation in 2010.

Pamela J Cote, CPA


Pamela J. Cote, CPA joined KeyState in 2020, with over 25 years of public accounting experience with specific emphasis on the captive insurance companies. Previously, she served as Audit Partner with Crowe LLP and Saslow Lufkin & Buggy LLP. She was the lead audit partner for over 100 captive insurance companies from a broad range of industries, including financial services, real estate and REITs, healthcare, manufacturing, retail, and professional services. Pam has significant experience in both GAAP and Statutory accounting reporting. Pam received a B.S. in Accounting from Bryant College and is currently a Certified Public Accountant in the states of Connecticut, Florida, Hawaii, District of Columbia, and New York. Pam previously served as a member of the Arizona Captive Insurance Association board of directors and the Western Region Captive Insurance Conference. She has also participated in various panel discussions at the Vermont Captive Insurance Association, Captive Insurance Company Association, and Western Region Captive Insurance conferences.

Jeffrey J. Vigne

SENIOR Director of Insurance Services

Jeff Vigne joins KeyState with over 31 years of insurance experience. He began his career as a claims adjuster which culminated in a position as the litigation manager for a regional insurer. He spent the next decade in the product development, marketing and compliance functions for a carrier. His most recent role was at Willis Towers Watson Global Captive Practice, the country’s third largest captive manager, where he customized captive insurance policies for a wide variety of captive owners and clients. Jeff has attained various professional designations including Chartered Property and Casualty Underwriter (CPCU), Certified Insurance Counselor (CIC), Associate in Claims (AIC), Associate in Risk Management (ARM), Associate in Management (AIM), Associate in Reinsurance (ARe) and Certified Compliance Professional (CCP). Jeff received a B.A. in Psychology with honors from the University of Vermont, where he was also a member of the hockey team.


Travis Holdman

SVP-National Sales Mgr/Financial Inst Grp

Through an independent consulting arrangement, Travis Holdman serves as SVP & National Sales Manager for KeyState's Financial Institutions Group. Travis has over 15 years of banking experience, having served on a community bank board prior to being asked to lead the bank as CEO. He has experience in bank mergers, investment and REIT subsidiaries, and has conducted an number of strategic planning sessions for banks and bank related entities. He is also a former Board Chairman for a statewide banking association and also served on the public board of a state banking regulator. In addition to his work with KeyState, Holdman is a licensed attorney and currently serves as a member of the Indiana Senate.

Sanford Fleck

SVP & Director of Business Development

Sanford Fleck joined The KeyState Companies as an Advisor in 2023. In his role as SVP and Director of Business Development, he is responsible for co-leading a team of senior business development professionals focused on introducing KeyState’s SOLCAP Solar Tax Equity Platform to community banks and corporate investors across the country. Prior to joining KeyState, Sanford spent 21 years with Crowe LLP in several leadership roles including revenue growth strategy for the firm’s Tax practice and co-leading the Office of Corporate Development, which he helped to establish. Sanford holds a BBA/Accounting from Texas State University.

Tim Swiat

SVP, Business Development

Tim Swiat joined The KeyState Companies in July of 2023. In his role as SVP, Business Development, he leads all sales to community and regional banks in a defined and exclusive four state territory. Presents the high-level benefits of solar tax equity investments, qualify the potential investors, schedule, and lead business development meetings, respond to questions from the potential investors and address objections and concerns. Tim studied at the University of Detroit, where he received a BS in Economics and a minor in English. Prior to joining KeyState Tim worked as a risk advisor in the insurance industry and as a relationship manager in the banking industry, holding positions at PNC, Vectra Bank, Commerce Bank and Independent Financial.

Accounting & Administration

Lorine D. Ellwood

VP- Client Accounting

Lorine Ellwood joined KeyState in 2007 through KeyState's acquisition of a business segment from a strategic partner. Prior to joining KeyState, Lorine had been working with KeyState in our Nevada offices for over 15 years. Lorine has over 20 years of portfolio accounting experience and she serves as a VP of Client Accounting and a member of the Financial Institution Group's portfolio accounting team. She holds a BA in accounting and economics from Thiel College, Pennsylvania.

Carolyn Koerber

VP, Corporate Controller

Carolyn Koerber joined KeyState in 2018 as the Controller. She has over 18 years of insurance accounting experience at a nationwide risk retention group (all 50 states plus DC and PR). Carolyn has been a Certified Public Accountant (CPA) since 1999 and is currently licensed in the State of Nevada and has attained her professional designation of Associates in General Insurance (AINS). Carolyn received her B.A. in Physics and Mathematics from Lewis University in Romeoville, IL.

Trish Taafe-McMenamy

Director of Client Operations

Trish Taafe-McMenamy joined The KeyState Companies in 2013. In her role as Director of Client Operations she oversees all client operations including new client onboarding, state and local licensing and compliance, as well as various marketing functions. Trish has studied Organizational Leadership at Colorado State University and Business Administration at the University of Nevada Las Vegas. Prior to joining KeyState Trish worked in the banking industry holding positions at Bank of America and Washington Mutual.