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CIT Group Inc (CIT)

CIT on New York Consolidated

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27 Feb 2017
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Summary

Name Age Since Current Position

Ellen Alemany

60 2016 Chairwoman of the Board, Chief Executive Officer

Carol Hayles

55 2015 Chief Financial Officer, Executive Vice President

Matthew Galligan

62 2015 President - CIT Real Estate Finance

Marc Heller

2016 President - CIT Commercial Services

James Hudak

52 President - CIT Commercial Finance

Michael Jones

2016 Managing Director - CIT Equipment Finance

C. Jeffrey Knittel

57 2007 President - CIT Transportation Finance

Steven Solk

61 2016 President - CIT Consumer Banking and President, California

James Duffy

56 2016 Chief Human Resource Officer, Executive Vice President

Edward Sperling

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

Gina Proia

2016 Executive Vice President, Chief Marketing and Communications Officer

Robert Rowe

54 2016 Executive Vice President, Chief Risk Officer

Stuart Alderoty

57 2016 Executive Vice President, General Counsel, Corporate Secretary

Kenneth Brause

2015 Executive Vice President, Treasurer

Raymond Matsumoto

60 2016 Executive Vice President and Chief Administrative Officer

Denise Menelly

Executive Vice President and Head of Technology and Operations

Kelley Morrell

36 2015 Executive Vice President and Chief Strategy Officer

John Ryan

70 2008 Lead Independent Director

Michael Brosnan

2016 Director

Michael Carpenter

68 2016 Director

Dorene Dominguez

54 2017 Independent Director

Alan Frank

64 2015 Independent Director

William Freeman

63 2003 Independent Director

R. Brad Oates

62 2009 Independent Director

Marianne Parrs

72 2003 Independent Director

Gerald Rosenfeld

69 2010 Independent Director

Sheila Stamps

58 2014 Independent Director

Peter Tobin

71 2010 Independent Director

Laura Unger

2010 Independent Director

Biographies

Name Description

Ellen Alemany

Ms. Ellen R. Alemany is Chairwoman of the Board, Chief Executive Officer of the Company. She has been Chairwoman, CEO and President of CIT Bank. Alemany is the former head of The Royal Bank of Scotland (RBS) Americas, the management structure that oversees RBS' businesses in the Americas. She also served as chairman and chief executive officer for RBS Citizens Financial Group, Inc. Prior to RBS, she served as chief executive officer for Global Transaction Services at Citigroup. Alemany held a number of senior positions during her tenure at Citigroup, including executive vice president for Commercial Business and president and CEO of CitiCapital. She also held a number of executive positions in Citigroup's Global Corporate Bank, including customer group executive of North American markets, global industry head of Media and Communications, U.S. industry head of Consumer Products, and customer group executive for the Global Relationship Bank in Europe, based in London. Alemany received her MBA in finance from Fordham University. She serves on the boards of Fidelity National Information Services, Inc., Automatic Data Processing, Inc. and the Center for Discovery.

Carol Hayles

Ms. Carol Hayles is Chief Financial Officer, Executive Vice President of the Company. she is responsible for overseeing all financial operations, including the Controllers, Planning, Tax, Treasury, M&A and Investor Relations departments. Previously, Hayles was Executive Vice President and Controller for CIT Group, where she served as the Principal Accounting Officer, responsible for the company's accounting functions, SEC and regulatory reporting and the associated controls activities. Before joining CIT in 2010, Hayles spent 24 years at Citigroup Inc. Most recently, she served as deputy controller, leading the SEC and regulatory reporting functions. Before that, she held various leadership positions in Finance, including 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. During her tenure in Canada, she also worked in internal audit, real estate lending and other finance positions. Hayles started her career at Price Waterhouse in Toronto, Canada. She received her BBA from York University.

Matthew Galligan

Mr. Matthew Galligan is President - CIT Real Estate Finance of the Company. He most recently 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, Galligan 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 and serves on the Board of Directors of Habitat for Humanity New York City. Galligan received a BA in Economics/Accounting from the College of the Holy Cross and an MBA in Finance from New York University Stern School of Business.

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.

James Hudak

Mr. James L. Hudak is President - CIT Commercial Finance of the Company. He has more than 25 years of experience in corporate and leverage banking, specifically targeting middle-market companies. He has served in a number of capacities on the credit, underwriting and origination sides. Hudak’s areas of expertise include private equity and M&A trends, capital markets and trends and convergence in the media, information services and technology, entertainment and gaming, sports and communications sectors. In the mid-1980s, Hudak started his career in a commercial real estate bank training program at Philadelphia National Bank. Hudak was soon working at Merrill Lynch, followed by Citibank, where he worked in the Leveraged Finance division, leading many middle-market transactions. In 1991, he joined AT&T Capital in its Capital Markets Division and focused on large project financings and leverage leases. He soon joined with a partner and co-founded AT&T Capital's Telecom Group, eventually augmenting it with media, entertainment and other technology sector capabilities. Over the years, Hudak successfully guided the group through several accretive acquisitions, including Nomura, Newcourt Capital, Tyco and CIT. For the past six years, Hudak has run the Corporate Finance Group at CIT, which comprises leading industry verticals in Aerospace & Defense, Commercial & Industrial, Communications, Media & Entertainment, Energy and Healthcare. The group is dedicated to servicing the specialized financing and advisory needs of small- and middle-market companies in the U.S. and Canada. 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.

Michael Jones

C. Jeffrey Knittel

Mr. C. Jeffrey Knittel is President - CIT Transportation Finance of CIT Group Inc. He is responsible for the management of four businesses: CIT Aerospace-Commercial Airlines, comprised of approximately 350 aircraft operated by more than 100 customers in 50 countries (an additional 140 aircraft are on order, with a retail value of approximately $10 billion); CIT Business Aircraft, which includes whole and fractional business aircraft finance assets; CIT Rail, one of the youngest major global fleets with over 130,000 railcars and more than 600 locomotives; and CIT Maritime, a financier/lessor of ships around the world. With over 30 years of experience in the transportation industry, Knittel began his career with the Cessna Finance Company and later joined Manufacturers Hanover Leasing Corporation. In 1986, he transferred to the CIT Group, acquired by Manufacturers Hanover, where he held several senior management positions. Knittel is a member of the Board of the USO of Metropolitan New York. He is a former President and current member of the Board of Governors of the Wings Club. Knittel is a former member of the Board of Trustees at Embry-Riddle Aeronautical University. He is also the former Chairman of the Board of Just One Break, a not-for-profit institution for the disabled founded by Eleanor Roosevelt. Knittel received a BS in Aviation Management from Embry-Riddle Aeronautical University. He also graduated from the University of Pennsylvania's Wharton School of Business Advanced Management Program.

Steven Solk

Mr. Steven Solk serves as President - CIT Consumer Banking and President, California of the Company. He was President - CIT Business Capital of the Company. Previously, 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 was responsible for retail banking and consumer and commercial lending for Commerce Bank of Harrisburg. Additionally, Solk served in several executive roles in the financial sector, including more than 20 years at Citibank where, 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. Solk earned a BA in Finance from Arizona State University.

James Duffy

Mr. James (Jim) Duffy 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. Duffy was previously chief human resources officer at Ally Financial Inc., where he was responsible for HR, including compensation, staffing, leadership development, talent management, and acquisition, employee relations and organizational development. Prior to Ally, Duffy was the chief human resources officer at CIT Group Inc. Prior to joining CIT in 2006, he served as senior vice president of Human Resources for Citigroup's Global Consumer Group, a $13 billion business offering a full range of consumer products with more than 200,000 employees in 50 countries. Before joining Citigroup, Duffy held senior HR positions at other major banking and manufacturing companies, including AlliedSignal, Ingersoll-Rand, Bankers Trust and GE.

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.

Gina Proia

Ms. Gina Proia serves as Executive Vice President, Chief Marketing and Communications Officer of the Company. Proia was the chief communications officer at Ally Financial, responsible for all communications activities at the company, including developing strategic communications plans and managing media relations, internal communications, digital media, executive communications, and corporate citizenship efforts. She joined Ally in December 2006 to lead external and financial communications just as the company was beginning its journey as a standalone entity following 90 years as a subsidiary of General Motors. In June 2009, she was named head of all communications and corporate citizenship efforts. Prior to joining Ally, Proia held various positions at General Motors in the areas of financial communications, marketing communications, and product publicity. She began her career at a documentary production company in Washington, D.C.

Robert Rowe

Mr. Robert C. Rowe is Executive Vice President, Chief Risk Officer of the Company. He is responsible for independent oversight of the company's Risk Management, including Credit Administration, Enterprise Risk, Compliance and Credit Review. Rob has been with CIT for five years. Previously, he served as CIT's Chief Credit Officer. Prior to joining CIT, Rowe 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. Rowe received a BA degree in Economics from Boston College and an MBA in Finance from Indiana University.

Stuart Alderoty

Mr. Stuart A. Alderoty is Executive Vice President, General Counsel, Corporate Secretary of the Company. Before joining HSBC, Mr. Alderoty was Managing Counsel at American Express and before that he was a partner with the law firm of LeBouef, Lamb, Green and MacRae, specializing in litigation. Mr. Alderoty serves on the Board of the Minority Corporate Counsel Association, a not-for-profit association that advocates for the expanded hiring, retention and promotion of minority attorneys in corporate law departments and the law firms that serve them. He also serves on the Board of the Count Basie Theatre, a not-for-profit community arts center in Red Bank, New Jersey. In addition, Mr. Alderoty is on the advisory committee of the Corporate Law Center at Rutgers University Law School.

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.

Raymond 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.

Denise Menelly

Ms. Denise M. Menelly is Executive Vice President and Head of Technology and Operations of the Company. Previously, Menelly spent six years with Bank of America Merrill Lynch, most recently as Head of Enterprise Shared Services. In this role she managed and transformed functions shared by the bank's corporate, commercial and consumer business lines. She joined Bank of America in 2010 as the Chief Operating Officer for Corporate Banking and then became the Global Head of Commercial and Corporate Bank Operations, managing functions in more than 28 countries. Menelly implemented positive change in each role through digitization, process simplification, performance improvement, risk reduction, business alignment and talent management. Prior to joining Bank of America, Menelly served as the Head of Operations for RBS Citizens and Vice Chairman of Citizens Bank. In these roles her responsibilities included the U.S.-based banking operations for Consumer Banking, Commercial Banking and Global Transaction Services. Previously, Menelly spent 12 years at Citigroup from 1996 to 2008, implementing technology and process changes while increasing her responsibilities in various Operations and Technology roles. These included: Global Head of Securities & Fund Services (SFS) Operations and Client Delivery, Head of Operations for the Commercial Business Group, Head of CitiCapital Operations, Head of Global Transaction Services Client Delivery and Head of Domestic Cash Management Operations. She began her career with Bankers Trust Company in 1983 and spent the next 13 years managing various operations and technology functions. When she left in 1996, she was the Director of Operations and the Head of Global Treasury and Trade Operations.

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.

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 Brosnan

Mr. Michael L. Brosnan is Director of the Company. He has served as the Examiner-in-Charge for Midsize Bank Supervision in the Office of the Comptroller of the Currency (OCC) from May 2013 to May 2016. Prior to that he was Senior Deputy Comptroller for Large Bank Supervision from December 2010 to April 2013. In addition, he served as a member of the OCC's Executive Committee and the Committee on Bank Supervision. From 2004 to 2008, Mr. Brosnan served in executive management roles at MBNA and Bank of America, including Enterprise Operational Risk Executive, Global Technology and Operations, Chief Administrative Office, and Supplier Risk Management organizations of the bank. Mr. Brosnan previously served as Compliance Executive for Bank of America Card Services, and he oversaw the Operational Risk Management Division of MBNA America. Prior to his tenure with MBNA and Bank of America, Mr. Brosnan spent 21 years with the OCC. In 2003, he was named Senior National Bank Examiner, the highest honor and designation available to bank examiners. Mr. Brosnan earned a BA and an MBA from Lynchburg College in Virginia. He also earned the Chartered Financial Analyst designation. CIT Director since November 2016. Also a member of the CIT Bank, N.A. Board of Directors.

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.

Dorene Dominguez

Ms. Dorene C. Dominguez serves as Independent Director of the Company. She also serves as a member of the Regulatory Compliance Committee. Ms. Dominguez is an active member of various community improvement projects, boards and commissions, including chair of The Dominguez Dream, which serves elementary schools in underserved communities by providing academic enrichment programs in math, science, language arts and engineering. She is a current member of the Latino Studies Board of Notre Dame University in South Bend Indiana, Pride Industries Board of Directors, Coca-Cola Hispanic Advisory Council and Cal Chamber Board, and sits on the Board of the University of Southern California, Lusk Center for Real Estate. Dominguez formerly served as a member of the American River Bank Board of Directors, the New America Alliance and the National Council of La Raza. Ms. Dominguez graduated from the University of Notre Dame and holds a bachelor's degree in business finance. She also earned a Certificate for Corporate Governance from the Center for Business and Government, John F. Kennedy School of Government, Harvard University.

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.