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CIT Group Inc (CIT)

CIT on New York Consolidated

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29 Jul 2016
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Summary

Name Age Since Current Position

Ellen Alemany

60 2016 Chairwoman of the Board, Chief Executive Officer

Matthew Galligan

62 2015 President, Real Estate Finance

James Hudak

52 2015 President, Commercial Finance

Steven Solk

61 2015 President, Business Capital

Carol Hayles

55 2015 Chief Financial Officer, Executive Vice President, Controller

John Erickson

54 2016 President of Consumer Banking and President, California

Marc Heller

2016 President - CIT Commercial Services

C. Jeffrey Knittel

57 2007 President - Transportation and International Finance

Bryan Allen

48 2012 Chief Human Resource Officer, Executive Vice President

Edward Sperling

51 2015 Executive Vice President, Principal Accounting Officer, Corporate Controller

Robert Ingato

55 2002 Executive Vice President, General Counsel, Secretary

Kenneth Brause

2015 Executive Vice President, Treasurer

Matsumoto Matsumoto

60 2016 Executive Vice President and Chief Administrative Officer

Kelley Morrell

36 2015 Executive Vice President and Chief Strategy Officer

Margaret Tutwiler

65 2010 Executive Vice President, Head - Communications and Government Relations

Stacey Goodman

53 2015 Chief Information and Operations Officer

Robert Rowe

54 2015 Chief Risk Officer

John Ryan

70 2008 Lead Independent Director

Michael Carpenter

68 2016 Director

Steven Mnuchin

53 2016 Director

John Oros

2016 Director

Alan Frank

64 2015 Independent Director

William Freeman

63 2003 Independent Director

R. Brad Oates

62 2009 Independent Director

Marianne Parrs

71 2003 Independent Director

Gerald Rosenfeld

69 2010 Independent Director

Sheila Stamps

58 2014 Independent Director

Peter Tobin

71 2010 Independent Director

Laura Unger

55 2010 Independent Director

Biographies

Name Description

Ellen Alemany

Ms. Ellen R. Alemany has been re-designated as Chairwoman of the Board, Chief Executive Officer of the Company., effective 10 May 2016. She as been appointed to the position of Chief Executive Officer of the Company., effective April 1, 2016. She is President of CIT Bank. She was an Independent Director of CIT Group Inc. Ms. Alemany is the retired Head of RBS Americas, the management structure that oversees The Royal Bank of Scotland’s businesses in the Americas, and Chief Executive Officer of RBS Citizens Financial Group, Inc., an RBS subsidiary. Ms. Alemany retired from RBS in September 2013. She joined RBS as the Head of RBS Americas in June 2007, and was named to the additional role of Chief Executive Officer of RBS Citizens Financial Group, Inc., a bank holding company, in March 2008. She was also appointed the Chairman of RBS Citizens Financial Group, Inc. in March 2009. Ms. Alemany joined RBS from Citigroup, where she served as the Chief Executive Officer for Global Transaction Services from February 2006 until April 2007. Ms. Alemany joined Citigroup in 1987, and held a number of senior positions during her tenure, including Executive Vice President for the Commercial Business Group from March 2003 until January 2006, and also CitiCapital, where she served as President and Chief Executive Officer from September 2001 until January 2006. Prior to being appointed Executive Vice President for the Commercial Business Group in 2003, Ms. Alemany also held a number of executive positions in Citigroup’s Global Corporate Bank. Ms. Alemany has served on the Board of Directors of Automatic Data Processing, Inc. since 2011 and the Board of Fidelity National Information Services, Inc. since July 2014, and also currently serves as a director of The Center for Discovery.

Matthew Galligan

Mr. Matthew Galligan President, Real Estate Finance of the Company. Mr. Galligan was Executive Vice President of Real Estate Finance since November 2011. Previously, Mr. Galligan served as Managing Director and Head of U.S. Property Finance for Bank of Ireland where, under his leadership, his team negotiated and closed more than 30 transactions totaling $2 billion. Before joining Bank of Ireland, he served as Executive Vice President for Real Estate Capital Markets at DebtX. He has also worked for Fleet Boston Financial, Bank of Boston and Chase Manhattan in executive level positions in credit, real estate lending, debt distribution and capital markets. Galligan sits on the Commercial Real Estate Board of Governors for the Mortgage Bankers Association. Mr. Galligan received a BA in Economics/Accounting from the College of the Holy Cross and an MBA in Finance from the New York University Graduate School of Business Administration.

James Hudak

Mr. James L. Hudak President, Commercial Finance of the Company. He served as President and Co-Head of Corporate Finance since October 2008. Previously, Mr. Hudak was President of CIT’s Communications, Media and Entertainment business since 2001. In 1994 he co-founded the Telecom Financing Group at AT&T Capital, a predecessor of CIT. Mr. Hudak originally joined AT&T Capital in 1991 in its Capital Markets Division, focusing on large project financings and leveraged leases. He started his career at Philadelphia National Bank, completing a formal bank training program and initially concentrated on commercial real estate projects, and thereafter had roles at both Merrill Lynch and Citibank, where he worked in the Leveraged Finance division. Mr. Hudak received a BA from Bucknell University and an MBA from Cornell University. He is a former officer in the U.S. Army and Army Reserves.

Steven Solk

Mr. Steven Solk is President, Business Capital of the Company. He is responsible for CIT’s Direct Capital, Capital Equipment Finance, Equipment Finance, and Commercial Services businesses. Previously, Mr. Solk was an Executive Vice President of Commercial Finance at RBS Citizens Bank and a member of Citizens’ Executive Leadership Group. In this role, he was responsible for executing growth strategies for four commercial banking specialty businesses, which included Franchise Finance, Business Capital, Asset Finance and Commercial Real Estate. Prior to RBS, Solk served in several executive roles in the financial sector, including more than 20 years at Citigroup. At Citigroup, he managed multiple lending and leasing specialty businesses and attained leading market positions in core target markets. Solk began his career at Bank of America, where he underwrote and managed corporate relationships. Mr. Solk earned a BA in Finance from Arizona State University.

Carol Hayles

Ms. Carol Hayles is Chief Financial Officer, Executive Vice President, Controller of the Company. She spent 24 years at Citigroup Inc., including serving as Deputy Controller of Citigroup, Inc. since January 2008, leading the SEC and regulatory reporting functions. Before that, she held various leadership positions at Citigroup, including Chief Operating Officer of Citigroup Commercial Business, Senior Analyst in Investor Relations, Chief Financial Officer of Citibank’s e-Business, CFO of Citigroup’s Global Relationship Bank and CFO of Citibank Canada. Ms. Hayles began her career at PricewaterhouseCoopers LLP in Toronto, Canada. Ms. Hayles received her BBA from York University.

John Erickson

Mr. John C. Erickson is President of Consumer Banking and President, California of the company. He comes to CIT following his retirement in 2014 after a 31-year career at Union Bank. Erickson's two most recent operating roles were as Vice Chairman, having acted as Chief Corporate Banking Officer from 2009 to 2013 and as Chief Risk Officer from 2007 to 2009. As Chief Corporate Banking Officer, he was responsible for managing a diverse group of units including treasury management, wealth management, commercial banking, real estate, and capital markets which comprised over 80% of Union Bank's income. In this role he was a member of Union Bank's Executive Management Committee and a member of the Mitsubishi UFJ Financial Group U.S. Management Committee. Prior to this role, in 2007 Erickson was appointed Vice Chairman and Chief Risk Officer to provide risk leadership through the financial crisis. He was responsible for enterprise-wide risk management and addressing certain key regulatory issues. He has served on several other boards, including The Music Center, The Living Desert, and UnionBanCal Equities. He earned a BA in Economics and an MBA in Finance from the University of Southern California.

Marc Heller

Mr. Marc Heller is President - Commercial Services of the Company, effective February 1, 2016. Prior to being appointed President of CIT Commercial Services, Heller served as the Northeast Regional Manager and International Manager for the business unit. He joined CIT in January 2004 when CIT acquired the factoring portfolio of HSBC. He had previously held the position of Executive Vice President and New York Regional Manager of HSBC Business Credit (USA) Inc. Heller had been with HSBC and its predecessor, Republic Business Credit Corporation, since 1991 and has been in the financial services industry since 1970. Heller is a recipient of a number of industry awards, including the Financial Services Industries Award from the American Jewish Congress, the Partners in Kindness Award from Sephardic Bikur Holim and the Community Achievement Award from ORT. He has been honored with the Leadership in Education Award from the New York Institute of Credit, and the Top Hat Award from the National Association of Credit Management.

C. Jeffrey Knittel

Mr. C. Jeffrey Knittel is President - Transportation and International Finance of CIT Group Inc., Mr. Knittel served as President of Transportation Finance since 2007 and CIT Aerospace since 1997 and Executive Vice President of CIT Group/Capital Finance since 1992, and in several other senior management positions within CIT Group/Capital Finance since 1986. Mr. Knittel also served in various senior management positions with Manufacturers Hanover Leasing Corporation since 1982 and Cessna Finance since 1980. Mr. Knittel received a BS in Aviation Management from Embry-Riddle Aeronautical University. He also attended the University of Pennsylvania’s Wharton School of Business Advanced Management Program.

Bryan Allen

Mr. Bryan D. Allen is Chief Human Resource Officer, Executive Vice President of the Company. He is responsible for overseeing the human resources function, including the development and implementation of the Company’s global employee talent programs, employment policies, compensation and benefits. Prior to CIT, he served as Chief Human Resources Officer for Hanover Insurance Group. Previously, he was Managing Director, Head of Human Resources at U.S. Trust. Prior to U.S. Trust, he held a number of leadership positions at Morgan Stanley, including serving as Global Chief of Staff for Human Resources. He received a BS in Industrial and Labor Relations from Cornell University and an MBA from Columbia University.

Edward Sperling

Mr. Edward K. Sperling is Executive Vice President, Principal Accounting Officer, Corporate Controller of the Company. Prior to being named to this position, Mr. Sperling was Senior Vice President and Deputy Controller since 2011. Mr. Sperling has held numerous leadership roles at CIT in corporate accounting, internal audit, credit, financial planning and analysis, investor relations, technology and treasury. Mr. Sperling holds a BS in Accounting from Rutgers University and an MBA in Finance from Seton Hall University.

Robert Ingato

Mr. Robert J. Ingato is Executive Vice President, General Counsel, Secretary of the Company. Mr. Ingato served as Executive Vice President and Deputy General Counsel since November 1999. Mr. Ingato also served as Executive Vice President of Newcourt Credit Group Inc., which was acquired by CIT, since January 1998, as Executive Vice President, General Counsel and Secretary of AT&T Capital Corporation, which was acquired by Newcourt, since 1996, and in a number of other legal positions with AT&T Capital since 1988. Mr. Ingato received his JD degree with honors from Cornell Law School and his BS in Business Administration with honors from Bucknell University.

Kenneth Brause

Mr. Kenneth A. Brause is Executive Vice President, Treasurer of the Company. Brause has been with CIT for eight years. Previously, he was Executive Vice President and Chief Financial Officer for CIT's North America Banking segment and, before that, Head of Investor Relations. Before joining CIT, Brause spent more than 20 years in various financial roles at several major financial institutions.

Matsumoto Matsumoto

Mr. Raymond D. Matsumoto is Executive Vice President and Chief Administrative Officer of the Company. Mr. Matsumoto served as Executive Vice President and Head of Corporate Services and Client On-Boarding for CIT Bank, N.A. Prior to that, Mr. Matsumoto served as Executive Vice President and Chief Information Officer for OneWest Bank N.A. until its acquisition in August 2015 by CIT. Before that, Mr. Matsumoto worked at Indymac from 1995 to 2008 filling various executive roles including credit, administration, human resources and information technology. From 1977 to 1995, Mr. Matsumoto worked as a senior manager at KPMG for 13 years and then as Chief Financial Officer for five years of a consumer food products company. Mr. Matsumoto earned a BS in Accounting and Finance from the University of California, Berkeley.

Kelley Morrell

Ms. Kelley Morrell is Executive Vice President and Chief Strategy Officer of the Company. She is responsible for leading the evaluation and execution of a wide range of strategic initiatives, including large-scale strategic mergers and acquisitions, as well as for partnering with senior leaders across the organization to develop the Company’s strategy and execute its strategic priorities. Prior to joining CIT, Ms. Morrell served as a Senior Director of the U.S. Treasury’s Automotive Industry Financing Program, the Federal government’s $81 billion portfolio of investments in the American automotive industry, which originated during the 2008 Financial Crisis. She oversaw the Government’s investments in Chrysler Financial, and in Chrysler Group following its emergence from bankruptcy, and through its restructuring and successful exit from government ownership. Morrell also led the development of strategic alternatives for Ally Financial, and was part of the team that executed the initial public offering of General Motors after its emergence from bankruptcy. Previously, Ms. Morrell was an investment professional at Hellman & Friedman, the San Francisco-based private equity firm. She began her career as an investment banker at Goldman Sachs in its Financial Institutions Group. Ms. Morrell graduated magna cum laude from Harvard College and received her MBA with distinction from Harvard Business School.

Margaret Tutwiler

Ms. Margaret D. Tutwiler is Executive Vice President ,Head of Communications and Government Relations of the Company. Ms. Tutwiler served as Senior Vice President and Head of Global Communications and Public Affairs of Merrill Lynch and Bank of America Corporation from December 2007 to February 2009. Before that she was Head of Global Communications and Government Relations of NYSE Euronext and its predecessor company NYSE Group, Inc. from 2004 to December 2007. Ms. Tutwiler has also spent 16 years in government service, including various senior level positions in the Reagan and both Bush Administrations. Ms. Tutwiler received a BA from the University of Alabama.

Stacey Goodman

Ms. Stacey Goodman Chief Information and Operations Officer of the Company. She has oversight of all aspects of technology and operations at CIT globally. She is responsible for identifying opportunities for improved efficiencies and determining key areas for innovation and investment. Prior to that, Ms. Goodman served as Executive Vice President and Chief Information Officer since April 2012. Prior to CIT, Ms. Goodman served as Managing Director of Global Technology & Operations at Bank of America. Before that, she was Managing Director, Information Technology at UBS. She also served as Department Head, Global Fixed Income at BT Alex Brown and has held other senior level positions with various financial institutions over the course of her career. Ms. Goodman holds a BA in Liberal Arts from Syracuse University.

Robert Rowe

Mr. Robert C. Rowe is Chief Credit Officer of the Company. Mr. Rowe previously served as Executive Vice President and Chief Credit Officer of CIT since June 2010. Prior to that, Mr. Rowe served as Senior Credit Officer — Commercial Banking of FirstMerit Bank until May 2010. Prior to that, Mr. Rowe also served as Chief Credit Officer of National City Bank after spending 20 years in various roles of increasing responsibility in its Corporate Banking and Credit departments. While at National City, he also served as Division Head of the Equity Sponsor Group and had transaction approval responsibility for various segments that included Leveraged Finance and Asset-Based Lending. Before National City, Mr. Rowe served as Account Officer and Assistant Treasurer of Irving Trust (now Bank of New York Mellon). He received a BA degree in Economics from Boston College and an MBA in Finance from Indiana University.

John Ryan

V. Adm. John R. Ryan is Lead Independent Director of the Company. He has been President and Chief Executive Officer of the Center for Creative Leadership in Greensboro, North Carolina since May 2007. Previously, Mr. Ryan served as Chancellor of the State University of New York from June 2005 to June 2007. Mr. Ryan also served as President of the State University of New York Maritime College from June 2002 until June 2005 while also serving as the Interim President of the State University of New York at Albany from February 2004 until February 2005. From 1998 to 2002, Mr. Ryan was Superintendent of the U.S. Naval Academy, Annapolis, Maryland. Mr. Ryan served in the U.S. Navy from 1967 to July 2002, including as Commander of the Fleet Air Mediterranean in Naples, Italy from 1995 to 1998, Commander of the Patrol Wings for the U.S. Pacific Fleet in Pearl Harbor from 1993 to 1995, and Director of Logistics for the U.S. Pacific Command in Aiea, Hawaii from 1991 to 1993. Mr. Ryan currently serves as a Director and member of the Audit Committee of Cablevision Systems Corporation, as Lead Director and member of the Compensation Committee and Chair of the Corporate Governance Committee of Barnes & Noble Education, Inc., and has previously served as Chairman of the Board of the U.S. Naval Academy Foundation.

Michael Carpenter

Mr. Michael A. Carpenter has been appointed Director of the company. Effective May 10, 2016. He has over 30 years of experience in banking and financial services, most recently served as CEO of Ally Financial Inc. from 2009 until 2014.Mr. Oros is a Managing Director at J.C. Flowers & Co. LLC ("JCF"), with over 40 years of financial services experience. In connection with Mr. Oros' nomination to the Board, the Company has entered into an agreement with JCF, which owns approximately 3.5% of CIT Group's common stock.

Steven Mnuchin

Mr. Steven T. Mnuchin is Director of the Company. Prior to joining CIT, he was Chairman and Chief Executive Officer of IMB Holdco LLC, a Bank Holding Company owned by him and a consortium of private investors, and Chairman of OneWest Bank N.A. Mr. Mnuchin is also Chairman and Chief Executive Officer of Dune Capital Management LP, a private investment firm. He has extensive experience in investing and financing the entertainment business. He has financed major blockbusters such as American Sniper, Gravity, Avatar, and Life of Pi. Prior to this, Mnuchin spent 17 years at Goldman Sachs, where he was a Partner in the firm and served as the firm’s Chief Information Officer and a member of the firm’s Management Committee. He is a member of the Board of the Museum of Contemporary Art Los Angeles (MOCA), the Los Angeles Police Foundation, the UCLA Health System Board and a Life Trustee of New York Presbyterian Hospital. He is also a member of the Board of Directors of Sears Holding Corporation and Chairman of its Corporate Governance Committee.

John Oros

Mr. John Joseph Oros has been appointed Director of the company. Effective May 10, 2016. He has served as a Managing Director at J.C. Flowers & Co. since 2006 and is currently a member of the firm's Management Committee. Mr. Oros joined the firm in 2000 as an operating partner. From 2000 to 2010, Mr. Oros held a number of executive positions at Enstar Group Limited, including the role of Executive Chairman from 2000 to 2010. Prior to that, Mr. Oros was an investment banker in the Mortgage Finance and Financial Institutions Groups of Goldman Sachs for almost 20 years, where he became a General Partner in 1986 and served as head of the Latin American Financial Institutions Group from 1995 to 2000. In addition, Mr. Oros was appointed Chairman of the Federal Savings and Loan Council in 1987, where he served for two years. Mr. Oros currently serves on the board of Cabot Group Holdings Limited. Previously, he served on the boards of Flowers National Bank, OneWest Bank N.A. (a predecessor to CIT Bank, N.A.), Encore Capital Group Inc., Banco BTG Pactual and Enstar Group Limited and various other private companies. Mr. Oros received a B.B.A. from the University of Wisconsin School of Business and served in the United States Army Reserves from 1968 to 1974 achieving the rank of 2 nd lieutenant.

Alan Frank

Mr. Alan Frank is an Independent Director of the Company. Mr. Frank spent 40 years with Deloitte & Touche LLP and retired in December 2012. With Deloitte & Touche, he led audit service teams from 1983 to 2012 and he led the Southern California consumer business and middle market audit practices from 1986 through 2010. Mr. Frank has significant experience with mergers and acquisitions, initial public offerings, and high growth companies. Mr. Frank graduated from the University of Southern California with a Bachelor of Science Degree.

William Freeman

Mr. William M. Freeman is an Independent Director of the Company. Mr. Freeman retired in February 2010 as Chairman of the Board of Arbinet-thexchange, Inc., in which capacity he had served since November 2007. Previously, Mr. Freeman served as President and Chief Executive Officer and Director of Arbinet-thexchange, Inc. from November 2007 until September 2008. Prior to joining Arbinet-thexchange, Mr. Freeman was elected to the Board of Motient Corp., now TerreStar Corporation, in February 2007, and Chairman of Motient/TerreStar in March 2007. Mr. Freeman also served as Chief Executive Officer and Director of Leap Wireless International, Inc. from May 2004 to February 2005 and as President of the Public Communications Group of Verizon Communications Inc. from 2000 to February 2004. Mr. Freeman served on the Board of Directors of Summit Bancorp from 1999 to 2002. Mr. Freeman served as President and Chief Executive Officer of Bell Atlantic-New Jersey from 1998 to 2000, President and Chief Executive Officer of Bell Atlantic-Washington, D.C. from 1994 to 1998, and in a number of other executive and management positions at Verizon since 1974. Mr. Freeman was a founder and co-owner of Synthesis Security LLC, a closely held telecommunications company. Mr. Freeman currently serves, or during the preceding five years served, on the Board of Directors of TerreStar Corporation, the Board of Trustees of Drew University, and as a director of Value Added Holdings, Inc., a privately held communications company, is the Executive Chairman and shareholder of General Waters Inc., a privately held beverage marketing and distribution company, and Chairman of Celadon Global Inc., a privately held mergers and acquisitions research firm.

R. Brad Oates

Mr. R. Brad Oates is an Independent Director of the Company. He currently serves as Chairman and Managing Partner of Stone Advisors, LP, a strategic advisory firm specializing in distressed asset situations, which is currently engaged as a contractor by the Federal Deposit Insurance Corporation (“FDIC”) to assist in resolving bank receiverships. Prior to joining Stone Advisors, Mr. Oates served from 1988 until 2003 as President and Chief Operating Officer of Bluebonnet Savings Bank FSB, responsible for bank operations and strategic planning in a bank turnaround situation, and as Executive Vice President of Stone Holdings, Inc., the holding company for Bluebonnet Savings Bank and a private investment company specializing in banking, information services, risk management and emerging technologies. Mr. Oates currently serves, or during the preceding five years served, as Chairman of the Board of Directors of Stone Advisory Holdings, LLC and NFC Global, LLC, a privately owned provider of due diligence, risk consulting and compliance services, and as a director of each of GearingStone, LLC, a special servicing company for distressed bank assets, and Neways Inc., a privately owned dietary supplement and personal care products company.

Marianne Parrs

Ms. Marianne Miller Parrs is an Independent Director of the Company. Ms. Parrs retired at the end of 2007 from International Paper Company where she had served as Executive Vice President and Chief Financial Officer since November 2005 and as interim Chief Financial Officer from May 2005 to November 2005. Ms. Parrs also has served as Executive Vice President with responsibility for Information Technology, Global Sourcing, Global Supply Chain — Delivery, a major supply chain project, and Investor Relations since 1999. From 1995 to 1999, Ms. Parrs served as Senior Vice President and Chief Financial Officer of International Paper Company. Previously, she served in a number of other executive and management positions at International Paper Company since 1974, and was a security analyst at a number of firms prior to joining International Paper Company. Ms. Parrs currently serves, or during the preceding five years served, on the Board of United Way of the Mid-South, the Board of Rise Foundation in Memphis, Tennessee, on the Board of the New Memphis Institute, Memphis, on the Board of Directors, the Audit and Compensation Committee of Stanley Black & Decker, Inc., and on the Board of Directors, the Audit Committee and Social Responsibility Committee of Signet Jewelers Limited.

Gerald Rosenfeld

Mr. Gerald Rosenfeld is an Independent Director of the Company. Mr. Rosenfeld re-joined Lazard Ltd. as Vice Chairman of United States investment banking effective March 1, 2011. He was Deputy Chairman of Rothschild North America from 2007 to 2011 and served as its Chief Executive Officer from 1999 to 2007. Prior to joining Rothschild, he was President of G Rosenfeld & Co LLC, an investment banking firm. Prior to founding G Rosenfeld & Co LLC in 1998, he was Head of Investment Banking and a member of the Management Committee of Lazard Freres & Co. LLC. Mr. Rosenfeld joined Lazard in 1992 after holding significant management positions at Bankers Trust Company, Salomon Inc. and its Salomon Brothers subsidiary and McKinsey & Company. Prior to joining McKinsey, Mr. Rosenfeld was a member of the faculty of the City College of New York, New York University and the University of Maryland. Mr. Rosenfeld currently serves, or during the preceding five years served, as a member of the Board of Directors of Continental Grain Company, on the Board of Overseers of New York University’s Stern School of Business, where he also serves as an Adjunct Professor of Finance, as a Board member of the American Academy of Arts and Sciences, as a Board member of Catalist LLC, on the Board of Trustees of City College of New York Foundation, as a Trustee of the New York University School of Law, where he is also a Professor of Practice, and as a Director of the Charles H. Revson Foundation.

Sheila Stamps

Ms. Sheila A. Stamps is an Independent Director of the Company. She previously served as Executive Vice President of Corporate Strategy and Investor Relations at Dreambuilder Investments, LLC, a private mortgage investment company, from 2011 to 2012. She served from 2008 to 2011 as Director of Pension Investments and Cash Management at the New York State Common Retirement Fund, and from 2004 to 2005 as a Fellow at the Weatherhead Center for International Affairs at Harvard University. Prior to this, Ms. Stamps served as Managing Director and Head of Relationship Management, Financial Institutions at FleetBoston Financial (now part of Bank of America Corporation). From 1982 to 2003, she held a number of executive positions with Bank One Corporation (now part of JPMorgan Chase & Co.) and First Chicago Corporation including Managing Director and Head of European Asset-Backed Securitization and Managing Director and Senior Originator of Asset-Backed Securitization. She holds an M.B.A. from the University of Chicago.

Peter Tobin

Mr. Peter J. Tobin is an Independent Director of the Company. He retired from St. John’s University in May 2005, after serving as Special Assistant in Corporate Relations and Development to the President of St. John’s University since September 2003, and previously as Dean of the Peter J. Tobin College of Business at St. John’s University since August 1998. From March 1996 to December 1997, Mr. Tobin was Chief Financial Officer of The Chase Manhattan Corporation. From January 1992 to March 1996, Mr. Tobin served as Chief Financial Officer of Chemical Banking Corporation, a predecessor of The Chase Manhattan Corporation, and prior to that he served in a number of executive positions at Manufacturers Hanover Corporation, a predecessor of Chemical Banking Corporation. Mr. Tobin currently serves, or during the preceding five years served, as a director of AXA Financial, AllianceBernstein Corporation, a subsidiary of AXA Financial that manages mutual funds, H.W. Wilson, a publishing company, and as an officer and director of Rock Valley Tool.

Laura Unger

Ms. Laura S. Unger is an Independent Director of the Company. Ms. Unger served as Counsel to the United States Senate Committee on Banking, Housing and Urban Affairs. Prior to working on Capitol Hill, she was an attorney with the Enforcement Division of the SEC. Ms. Unger currently serves, or during the preceding five years served, as a director of CA, Inc., Navient Corporation, certain privately-held affiliates of Nomura Holding America Inc., Ambac Financial Group, Inc., the IQ Funds Complex, MBNA Corp. and Children’s National Medical Center. She also has acted as Special Adviser to Promontory Financial Group and as an Independent Consultant to JP Morgan Chase for the Global Analyst Conflict Settlement.