David B. Ryan



David B. Ryan is a partner and business lawyer with Foley & Lardner LLP. He has extensive experience in revenue bond financings, including as bond counsel, underwriter’s or purchaser’s counsel, and borrower’s counsel and in asset-backed securitization financings. He currently serves as primary bond counsel for the State of Wisconsin's general obligation, state revolving fund revenue bonds, and master lease credits. David has worked on new markets tax credit-enhanced revenue bonds for hospitality, housing and industrial projects. He has also served as lead issuer’s counsel on over $30 billion of asset-backed debt issuances for receivables financings.  David also frequently represents financial institutions in providing credit and liquidity facilities for taxable and tax-exempt debt financings. He is a member of the firm’s Finance & Financial Institutions and Public Finance Practices.

Thought Leadership

David has over 30 years of experience in student loan finance, including Federal Family Education Loan (FFELP) and private loan program development, warehouse financings and term securitizations, and portfolio purchases and sales. He has been a frequent panelist at Education Finance Council and National Council of Higher Education Loan Program conferences and seminars, and played a major role in the development of the first common form of FFELP promissory note.


David was selected for inclusion in the Chambers USA: America's Leading Business Lawyers in 2016 and 2017. In 2010, 2011 and 2012, the Legal 500 recognized David for structured finance. He has been selected by his peers for inclusion in The Best Lawyers in America© since 2011 in the specialty of structured finance law, and was named the 2014 “Milwaukee Public Finance Law Lawyer of the Year” and the 2017 “Milwaukee Securitization and Structured Finance Law Lawyer of the Year” by Best Lawyers.


A native of Alton, Illinois, David was a 1981 Phi Beta Kappa graduate of Coe College. He graduated, magna cum laude, from the University of Illinois College of Law in 1984, where he served on the University of Illinois Law Forum and was elected to the Order of the Coif.

Professional Memberships

David is a member of the National Association of Bond Lawyers.