The 12^th Annual Wharton Value Investing Conference - Projecting 2020: Investment Themes for the Decade

Jed A. Hart

Portfolio Manager and Senior Managing Director, Centerbridge

Prior to joining Centerbridge, Mr. Hart was a Managing Director and Chief Portfolio Manager for the distressed securities funds of Angelo, Gordon & Co., L.P. Before joining Angelo in 1995, Mr. Hart worked in the High Yield Trading Group at Merrill Lynch & Co. At Merrill Lynch, Mr. Hart focused on distressed and special situation investing. Prior to that, Mr. Hart worked in investment banking specializing in financial institutions at Fox-Pitt, Kelton Inc. Mr. Hart has served on numerous creditors committees and has been deeply involved in many U.S. and overseas restructurings. Some representative official and adhoc creditors committees have included CIT, Washington Mutual, Refco, Healthsouth, Harnischfeger, Conseco, Finova, Worldcom (MCI), Comdicso and Cornerstone Propane. Mr. Hart has invested in a diverse set of industries including financial services, insurance, healthcare, industrial manufacturing, distribution and apparel. He has also invested in many liquidations and litigations. Mr. Hart received a B.S. from the Wharton School at the University of Pennsylvania.

J. Carney Hawks

Portfolio Manager and Partner, Brigade Capital Management

Carney Hawks is an original partner of Brigade Capital. Prior to joining Brigade, he was a Portfolio Manager/Analyst in the High Yield division of MacKay Shields from 1998 through August 2006. At Mackay, he worked on a team that managed over $17 billion in retail and institutional high yield assets as well as a hedge fund product. Prior to joining MacKay, Mr. Hawks was an investment banker in the Financial Entrepreneurs Group at Salomon Smith Barney. In his role at Mackay Shields and Brigade Capital, Mr. Hawks has worked on numerous bankruptcies and out of court restructurings in a wide range of industries. Currently, he serves on the official creditors committee or ad hoc committee for several active restructurings. He is a graduate of the University of Virginia's McIntire School of Business (BS with Distinction) and is a CFA charterholder.

Daniel Krueger

Partner and Managing Director, Owl Creek Asset Management

Daniel Krueger is a Partner and Managing Director at Owl Creek Asset Management, a hedge fund based in New York, where he heads the distressed debt team. Mr. Krueger has been with Owl Creek since inception in February 2002 when the firm started with $17 million under management. Today, Owl Creek manages approximately $5 billion, investing in event-driven value opportunities across all parts of the capital structure. Prior to Owl Creek, Mr. Krueger worked at Angelo Gordon and Chase Securities Inc. Mr. Krueger is an adjunct professor at Columbia Business School where he has taught a class on distressed debt investing since 2006. He is on the Board of Directors of Timco Aviation Services and has served on and been heavily involved with numerous ad hoc creditor and equity committees, such as Northwest Airlines, Stelco Inc, and Washington Mutual. Mr. Krueger earned his A.B. from Harvard College and his M.B.A. from Columbia Business School.

Mike Sukhadwala

Portfolio Manager and Partner, MatlinPatterson

Mr. Sukhadwala, who runs the Fund, has 9 years of investing experience with a focus on distressed investing. Mike was a senior PM of the MatlinPatterson Distressed Opportunities Fund since launch. Prior to joining MP in December 2006, Mr. Sukhadwala was a SVP at Whippoorwill Associates, a hedge fund affiliated with Harvard Management Corporation. While there, his responsibilities included analyzing, positioning and trading the book. He invested opportunistically in a broad array of industries across the capital structure.

From 2002 to 2004, Mike was a senior analyst at Clinton Group, focused on US and European distressed debt and special situations. He was also an analyst at Normandy Asset Management (New York Office) focusing on merger arbitrage and special situations from their NY offices. Mr. Sukhadwala began his career at KPMG’s Washington National Tax Office (1999-2000) as a senior tax specialist, focusing on the taxation of financial instruments.

Mr. Sukhadwala holds an LLM (Taxation) from New York University School of Law, a JD and MS from Florida State University, and an MA and BA from the University of Central Florida. He is fluent in Hindi.

Michael Weinstock

Co-Founder and Portfolio Manager, Monarch Alternative Capital

Michael Weinstock is co-founder and co-Portfolio Manager of Monarch. Prior to joining Monarch in March 2002, Mr. Weinstock was a Managing Director of Lazard and served as co-Portfolio Manager of the Lazard Debt Recovery Funds. In 1992, he joined Lazard’s then-recently formed High Yield Bond Department as a Vice President to build a distressed debt research effort. Under Mr. Weinstock’s leadership, Lazard’s distressed debt research team was ranked #1 in the distressed debt category by Institutional Investor magazine in 1998. Prior to joining Lazard, Mr. Weinstock became a distressed debt research analyst in 1991 when he joined R.D. Smith & Co., a pioneer in the field of distressed debt investing. Prior to that, he was an investment banker for seven years at Salomon Brothers and Goldman Sachs working on corporate finance, securitization, and mergers and acquisitions transactions. He currently serves on the Investment Committee of the Jewish Community Foundation and Board of Directors of Protection One Inc. Mr. Weinstock graduated from the Wharton School of the University of Pennsylvania, summa cum laude, with a B.S. in Economics and from Harvard Business School with an M.B.A.

Keith Barnett

Director, Merrill Lynch Global Commodities

Keith Barnett is Director, Strategic Analysis for Merrill Lynch Global Commodities. He is responsible for the longer term fundamental analysis of global energy commodities and their markets for Merrill Lynch’s global commodity trading platform. He has more than 25 years experience in energy analysis, marketing, trading, production, drilling and other aspects of the energy business. Keith has worked for Brown & Root, Chevron, Columbia Gas, and most recently with American Electric Power. Keith led the natural gas task force for Edison Electric Institute for several years and testified before FERC and the U.S. Senate Energy Sub-Committee on natural gas and power related matters. He also was the Power Generation Lead on the National Petroleum Council 2003 Natural Gas Study in addition to serving on the Coordinating Sub-Committee and other sub-groups of that study. Keith was also serving on the NPC’s current Global Oil & Gas study prior to joining Merrill Lynch in early 2007. Keith also served as a board advisor to a private E&P company prior to joining MLCI.

David W. Palmer

Vice President and Equity Research Analyst, Wellington Management

David is an equity research analyst and portfolio manager on the Opportunistic Value team, which searches for value-oriented, low P/E securities. While his research encompasses many industries, David’s primary areas of coverage are in the energy, basic materials, finance, automotive and IT services industries. His analytical support benefits a number of Wellington Management’s specialized portfolios, including the Mid Cap Value and Value Cap App products. Prior to joining Wellington Management in 1998, David worked in equity sales, trading, and research at Cantor Fitzgerald, Ltd. in London (1993 — 1996). David earned his MBA in finance, with distinction, from the University of Pennsylvania (Wharton, 1998) and his BA in English, with distinction, from Stanford University (1993). He holds the Chartered Financial Analyst designation and is a member of the CFA Society of Philadelphia.

Timothy Parker

VP, T. Rowe Price Group

Timothy Parker is a vice president of T. Rowe Price Group, Inc., and T. Rowe Price Associates, Inc. He is also a research analyst in the U.S. Equity Division following the exploration and production and energy services components of the energy sector. Tim is a vice president and Investment Advisory Committee member of the New Era, Blue Chip Growth, Dividend Growth, and Capital Opportunity Funds. He is also a vice president of the New Horizons Fund. Tim joined the firm in August 2001 after serving as a summer intern at T. Rowe Price in 2000, covering storage area networking equipment companies. Prior to this, Tim was a financial analyst in the Corporate Finance Department of Robert W. Baird & Co. Tim earned a B.S. in commerce from the McIntire School of Commerce at the University of Virginia and an M.B.A. with highest honors from the Darden Graduate School of Business Administration, University of Virginia, where he was a Shermet Scholar. He also has earned the Chartered Financial Analyst accreditation.

Phillip J. Ream

Managing Director, CRT Investment Banking LLC

Phil joined CRT in 2009 with eighteen years of energy investment banking and industry experience. Phil was previously with Bear Stearns where he was a Managing Director in the firm's power and utilities group. Before joining Bear Stearns he was a Director at SG Barr Devlin and prior to that also served as a Director at Salomon Smith Barney. Phil began his banking career at CS First Boston in New York as an associate in the firm's natural resources group. He has extensive experience in both mergers and acquisitions and capital raising transactions for companies throughout the energy value chain. Phil holds an MBA degree from The Wharton School of the University of Pennsylvania and a B.S. degree in Petroleum Engineering, with honors, from The University of Texas at Austin.

Mahmoud Sharaf

Research Analyst, Fidelity Management & Research

Mahmoud Sharaf is a research analyst for Fidelity Management & Research Company (FMRCo.), the investment advisor for Fidelity’s family of mutual funds. Fidelity Investments is the largest mutual fund company in the United States, the No. 1 provider of workplace retirement savings plans, the largest mutual fund supermarket, a leading online brokerage firm and one of the largest providers of custody and clearing services to financial professionals. Mr. Sharaf joined FMRCo in 2007 and has primary coverage responsibilities across Energy Services, Pipelines and Master Limited Partnerships. Previously, Mr. Sharaf served as a summer equity analyst in 2006, where he initiated coverage of the Commercial Printing sector.

Prior to joining Fidelity Investments, Mr. Sharaf served in numerous strategic planning roles within IAC/InterActiveCorp, a leading consumer internet conglomerate, from 2002 -2005. In theses roles, he was responsible for executing the firm’s M&A transactions in the Local Services division and for developing and driving strategic, operational and financial initiatives. Mr. Sharaf began his finance career in 2000 as an analyst in the Investment Banking division of Merrill Lynch & Co.

Mr. Sharaf received his bachelor of science in business administration from the University of Southern California in 2000 and his MBA from The Wharton School in 2007. He currently holds his FINRA Series 7 and 63 licenses.

Prof. Andrew Jackson

Practice Professor, Mechanical Engineering and Applied Mechanics, University of Pennsylvania (Moderator)

After obtaining a PhD in Mechanical Engineering from Imperial College in London, Andy Jackson joined the Central Research Laboratory of Mobil Oil in 1974. During 35 years of basic research in industry and of service to the engineering technical community, Andy became a recognized leader in the field of tribology. He was President of the Society of Tribologists and Lubrication Engineers (STLE) in 1995-96. From July 2002 to December 2009, he served as Editor of Tribology Transactions. His research in tribology, rolling contact fatigue, engine lubrication and synthetic lubricants resulted in 15 patents and over 45 papers, with four best paper awards. He wrote the Mobil EHL Guidebook, used worldwide for gear and bearing lubricant selection. He received an ACS Hero of Chemistry award with a Mobil team for work on synthetic lubricants. Recent work on the effects of lubricants on diesel exhaust emission resulted in two SAE papers, one of which received the prestigious Arch T. Colwell award in 2003. He received the ASME Mayo D. Hersey Award and the STLE International Award in 2005. He is a Fellow of ASME, IMechE and STLE. In 2009 he was elected to the National Academy of Engineering.

Andy retired in September, 2009 from the position of Senior Scientific Advisor at ExxonMobil Corporate Strategic Research in Clinton, NJ. In January, 2010, he was appointed Practice Professor in Mechanical Engineering and Applied Mechanics at the University of Pennsylvania. He teaches courses on energy and on tribology.

Seth M. Birnbaum

Portfolio Strategist, Bridgewater Associates

Seth is a Portfolio Strategist at Bridgewater Associates. He is a senior member of the research group with expertise in portfolio structuring and the foreign exchange, interest rate, commodity, and equity markets. He also works with Bridgewater’s clients to develop investment strategies that meet their objectives and to provide insight into the research group’s thinking on global markets and economic conditions. Seth has been with the firm since 2002. He received his B.A. from Amherst College (magna cum laude) with majors in economics, political science, and philosophy.

Sam Ginzburg

Partner and Senior Trader, First New York Securities

Samuel Ginzburg is a Partner and Senior Trader at First New York Securities, where he runs a long/short event and catalyst driven fund. Previously, Samuel was Senior Managing Director and Head of Global Sales and Trading at Gruntal & Co., LLC. In 2003, Samuel founded and served as Chairman of the Mount Sinai Hospital Department of Medicine Advisory Board, and served for several years as a member of NASDAQ CAES/ITS Subcommittee. Samuel has been featured on CNNfn, Marketwatch.com, TheStreet.com, and NPR radio. Samuel graduated from the University of Massachusetts with a Bachelor’s in Marketing, and was a four year letterman Varsity Soccer member.

Greg Pappajohn

Managing Partner, Pappjohn Securities

Greg Pappajohn is the Managing Partner of Pappajohn Capital Partners, LP, a global macro hedge fund which focuses on intermediate to longer term investment opportunities. Mr. Pappajohn has been involved in the financial markets since receiving a Masters of Business Administration from The Wharton School, University of Pennsylvania in 1993. He worked at Bear Stearns as a fixed income trader from 1993 – 1996 and has since worked in various portfolio management capacities for Isos Trading Group, Ritchie Capital & Vara Capital Management. Mr. Pappajohn has also, since 2002, advised several large fund complexes in identifying Black Swan positions involving European sovereign yield divergence and European Monetary Union.

Dennis Scurletis

Managing Partner, ScurlyDog Capital

Dennis Scurletis is the Managing Partner of ScurlyDog Capital, LLC, a registered investment adviser. Mr. Scurletis worked at Goldman Sachs from 1985 to 1995 as a Vice-President in Fixed Income Sales and at Morgan Stanley from 1995 to 2007 as a Managing Director with various management responsibilities. These included running Capital Markets, Structuring and Syndication for Securitized Products, co-managing Fixed Income Sales and managing the Global Equity and Fixed Income Listed Derivatives Business. Mr. Scurletis received a Masters of Business Administration from The Wharton School, University of Pennsylvania in 1985.

Ravi Suria

Founder and Managing Partner, Valmiki Capital LLC

Ravi Suria is the founder and Managing Partner of Valmiki Capital LLC and an adjunct professor of finance at the A.B. Freeman School of Business at Tulane University. Previously Mr. Suria managed global equity portfolios at Moore Capital Management with a heavy emphasis on emerging market equities. Prior to that he was a managing director at Duquesne Capital Management where he worked with global strategy and emerging market equities. Before his buy side career, Mr. Suria spent six years as a sell-side analyst heading up convertibles research at Lehman Brothers and PaineWebber during when he was recognized as an All-Star analyst by Institutional Investor and Fortune magazines. His approach to equity investing includes a strong macro component derived from bottom up analysis of various equity sectors.

Andrew Gillan

Investment Manager, Aberdeen Asset Management

Andrew Gillan is an investment manager on the Asia Pacific (ex Japan) equity team. He joined the company in 2000 as a graduate trainee on the UK equity desk, via the acquisition of Glasgow-based Murray Johnstone, before moving to Singapore and his current role in 2001.

Andrew graduated with an MA in French and European History from the University of Edinburgh.

Mitchell Green

Senior Analyst, Eastern Advisors

Mitchell Green is an investor at Eastern Advisors, an Asian focused hedge fund seeded by Julian Robertson in 2003. Mitchell primarily invests in public and private companies in the consumer, internet, software and digital media sectors in Asia and the US. On the private side, the fund was an early investor in Alibaba Group, the largest internet/ecommerce company in China as well as Bazaarvoice, a late stage US software company. Prior to joining Eastern Advisors, Mitchell was an Analyst at Bessemer Venture Partners. Prior to Bessemer, Mitchell worked at UBS Investment Bank in the Mergers & Acquisitions Group. Mitchell graduated from Williams College with a Bachelor of Arts in Economics and an MBA from the Wharton School at the University of Pennsylvania.

Julie Pfeffer

Senior Analyst, Artisan Partners

Julie Pfeffer, CFA is a senior analyst for Artisan Partners’ emerging markets portfolios, primarily focusing on companies in South Africa, India, Central and Eastern Europe, and the Middle East, as well as natural resources companies in Latin America. Prior to joining Artisan in April 2006, Ms. Pfeffer spent eight years as an analyst for DuPont Capital Management’s emerging markets equity portfolios. From 1993-1996, Ms. Pfeffer was a financial advisory services consultant for Ernst & Young in Moscow.

Ms. Pfeffer holds a BA in Economics and Soviet Studies from Cornell University, an MA in International Policy Studies from the Monterey Institute of International Studies, and an MBA in Finance from the Wharton School of Business.

F. Chapman Taylor

Senior Vice President, The Capital Group

F. Chapman Taylor is a senior vice president of Capital International Research, Inc. with research responsibilities for telecommunications companies in the Asia Pacific region (ex. Japan) and as a country generalist for Indonesia, the Philippines and New Zealand. He also serves as co-research director for the emerging markets group, as well as emerging markets equity research portfolio coordinator. Mr. Taylor has an MBA in finance and strategic planning from The Wharton School at the University of Pennsylvania and he also holds a BS in physics and theology from Tulane University. Prior to joining our organization in 1994, he worked as a consultant for seven years with SRI International and Strategic Planning Associates advising ASEAN, U.S. and U.K. companies on business strategy. He is based in Washington, D.C. Mr. Taylor also serves on the non-profit boards of For Love of Children, L'Arche Greater Washington D.C., and Karya Salemba Empat.

Ravi Suria

Founder and Managing Partner, Valmiki Capital LLC

Ravi Suria is the founder and Managing Partner of Valmiki Capital LLC and an adjunct professor of finance at the A.B. Freeman School of Business at Tulane University. Previously Mr. Suria managed global equity portfolios at Moore Capital Management with a heavy emphasis on emerging market equities. Prior to that he was a managing director at Duquesne Capital Management where he worked with global strategy and emerging market equities. Before his buy side career, Mr. Suria spent six years as a sell-side analyst heading up convertibles research at Lehman Brothers and PaineWebber during when he was recognized as an All-Star analyst by Institutional Investor and Fortune magazines. His approach to equity investing includes a strong macro component derived from bottom up analysis of various equity sectors.

Pavel Savor

Assistant Professor, Finance Department, The Wharton School (Moderator)

Pavel Savor is an Assistant Professor in the finance department at the Wharton School, where he teaches a course on buyouts and acquisitions. His research focuses on how capital market inefficiencies impact firm and investor decision-making, and on the relationship between information and security returns. His work has been published in the Journal of Finance and has been featured in national news and business periodicals including the Wall Street Journal.

Professor Savor received a Ph.D. and A.M. in business economics from Harvard University, an M.A. in economics from Yale University, and bachelor’s degrees in economics and international studies from Yale University. Prior to his graduate work, he was a consultant at Cornerstone Research and led the M&A group at Pliva dd. He serves as a consultant to a number of hedge funds.

Martin Anidjar

Portfolio Manager, Baffin Advisors

After completing his PhD in Economics from the University of Chicago (where he worked for Nobel laureate, Robert E. Lucas), Martín joined JPMorgan’s EM Fixed Income Strategy Team in August 1998, where he worked both on JP Morgan's Asia Sovereign Strategy group and Latin America team. Among other activities, Martín focused on the strategy of crises credits (Argentina, Uruguay during 2001/2002). Those crises allowed him to introduce new concepts and methods of analysis to value debt restructuring episodes and sovereign sustainability scenarios. Martín joined Morgan Stanley in early 2004 to head the Latin American Strategy team. His research put him on several media outlets frequently, as well as a regular participant in policy circles and market congresses and conferences. At the beginning of 2007, Martín joined UBS to set up and co-head an EM proprietary trading desk. Since June 2009 Martín is a co-founder and the Managing partner of the Baffin Capital Group and Baffin Advisors. His global macro blog (http://martin-anidjar.blogspot.com) has received more than 15,000 hits. It has been included in Nouriel Roubini’s RGE Monitor service. This blog will soon morph into Baffin services.

Steve Koenig

Managing Director, Co-Head of Latin America Sales & Trading, JPMorgan

Steven Koenig is a 24 year veteran of the financial markets. He is a managing director and co-head of Latin America Sales and Trading at JP Morgan in New York. In this position, Steve manages a team of 45 traders and 30 salespeople located in New York, Argentina, Brazil, Chile, Colombia, Mexico and Peru. His market specialty is currency, and currency option, trading. Steve has been at JP Morgan for 13 years and was previously chief currency trader at Bank Brussels Lambert in New York. He lives in Bedford Corners New York with his wife and four Border Collies.

Paul Rogers

Managing Director, Fidelity Management & Research

Paul Rogers is a managing director of research for Fidelity Management & Research Company (FMRCo.), the investment advisor for Fidelity’s family of mutual funds.  Fidelity Investments is the largest mutual fund company in the United States, the No. 1 provider of workplace retirement savings plans, the largest mutual fund supermarket, a leading online brokerage firm and one of the largest providers of custody and clearing services to financial professionals.  Mr. Rogers works in the Equities division of FMRCo and is responsible for managing a team of emerging markets research analysts.

Prior to joining Fidelity in March 2008 under his current title, Paul served as a portfolio manager for Deutsche Asset Management in Boston, Massachusetts.  Mr. Rogers joined Scudder, Stevens and Clark (later acquired by Deutsche Bank) in 1994 as an equity analyst on their Latin America team.  In 1997 he was named portfolio manager for the Argentina Fund, Inc., a closed end fund listed on the NYSE and in 1998 he was named portfolio manager for the Brazil Fund, Inc., also listed in the NYSE.  In 2000 he was promoted to managing director of active equities for Latin America and was named portfolio manager of the Scudder (now DWS) Latin America Fund.    From 1985 to 1994, Mr. Rogers worked at Chemical Bank now (JPMorganChase) in New York City and Mexico in the corporate banking department and previously worked for the Americas Society.

Mr. Rogers received a bachelor of arts in political science from the University of Vermont in 1979.  He also received an MBA in finance from the New York University Stern School of Business in 1989.  Mr. Rogers is a CFA charterholder.

John H. Welch

Global Chief Economist, Itau Bank

John H. Welch is the Global Chief Economist of Banco Itau. He is a former Senior Managing Director and Head of Latin America Research at Bear Stearns. Dr. Welch’s primary responsibilities encompass global sovereign and macroeconomic research with special emphasis on Latin American and Brazil. Prior to joining Bear Stearns, Dr. Welch was Senior Vice President, Sovereign Strategy at Lehman Brothers, chief economist for Latin America and Head of Latin American Fixed Income Research at West LB AG. He held the same position at Barclays Capital and BNP Paribas. Before that, Welch served as senior economist with the Federal Reserve Bank of Dallas and was an assistant professor at University of Texas, Austin, University of North Texas, and Oakland University. Dr. Welch has also published extensively in professional journals and edited books in addition to his own book entitled: Capital Markets in the Development Process: The Case of Brazil (University of Pittsburgh Press, 1993). Dr. Welch earned his Ph.D. in economics at the University of Illinois and his AB in economics from Columbia University.

Pricila Maziero

Assistant Professor, Finance Department, The Wharton School (Moderator)

Pricila Maziero is an Assistant Professor at the Finance Department of the Wharton School. Ms. Maziero holds a PHD in Economics from the University of Minnesota, and a M.A. and B.A. in Economics from the University of Sao Paulo. She was also a Research Assistant at the Federal Reserve Bank of Minneapolis and an Economist at Itau Bank in Sao Paulo, Brazil.

Wai Lee

Managing Director, Neuberger Berman

Wai Lee, PhD, Managing Director, joined Neuberger Berman in 2004. Wai is the Chief Investment Officer and Director of Research for the Quantitative Investment Group (QIG) with overall responsibility for the quantitative investment function. Previously, he was the Head of the Quantitative Engineering group at Credit Suisse Asset Management (CSAM), responsible for the application of quantitative research across various products and strategies. He joined CSAM in 2000 from J.P. Morgan Investment Management, where he was in charge of quantitative research and risk management for the Global Balanced group. Previously, he was a postdoctoral research fellow at the Harvard Graduate School of Business. Wai is the author of the book Theory and Methodology of Tactical Asset Allocation. He has served on the Advisory Board of The Journal of Portfolio Management since 1997. His research work has appeared in academic refereed journals and industry journals. Wai holds a BS (with honors) in Mechanical Engineering from the University of Hong Kong and MBA and PhD degrees in Finance from Drexel University.

Jeffrey Morrison

Investment Officer, MFS Investment Management

Jeffrey D. Morrison, CFA, is an Investment Officer at MFS Investment Management® and is Growth Equity Institutional Portfolio Manager. In his role, he participates in the research process and strategy discussions, customizes portfolios to client objectives and guidelines, and communicates investment policy, strategy, and tactics. He joined MFS in 2006. Previously, he served eight years as a portfolio manager for Franklin Templeton Investments; six years as U.S. equity analyst/portfolio manager for MulVihill Capital Management; two years as a capital markets analyst and one year as a bond/money market trader for CT Investment Counsel (CTIC). Jeffrey earned a Bachelor of Business Management (BBM) degree from Ryerson Polytechnical Institute. He has a Chartered Financial Analyst certification.

Jocelin Reed

Director, Senior Portfolio Manager, Active Equity Strategies, Mellon Capital Management

M.B.A., University of Pittsburgh, Finance.
13 years of investment experience.

• Manages portfolio teams responsible for large cap core, large cap value and market neutral strategies, including client portfolios with socially responsible mandates
• Responsible for articulating active strategies to clients and prospects
• Former Principal Officer of Mellon Equity Associates, LLP
• Member of the CFA Institute

Matthew S. Rothman, Ph.D.

Managing Director, Barclays Capital

Matthew S. Rothman, Ph.D., joined Barclays Capital in September 2008 and is currently a managing director and the global head of the firm's Quantitative Equities Strategies team. This team is responsible for developing quantitative stock selection as well as working with POINT team in producing global equity risk models. Matthew is also a member of Barclays Capital Investment Policy Committee, which is committed to maintaining the quality and accuracy of the firm's research.

Prior to joining Barclays Capital, Matthew was at Lehman Brothers since 2006. Before that, Matthew was the senior quantitative analyst at Sanford C. Bernstein from 2003 to 2006. During that time, the team achieved First Team status in Institutional Investor’s "All-America Research Team" poll in 2005 and was ranked No. 1 in the Greenwich Associates poll for 2003 to 2006. In addition, Matthew was a senior research analyst/portfolio manager in the Quantitative Equities group at Goldman Sachs Asset Management, and an associate in the Quantitative Equity Derivative and Strategies group at Morgan Stanley.

Matthew earned a Bachelor’s degree from Brown University, a M.A. in Statistics from Columbia University, and a Ph.D. in Finance from the University of Chicago. He is also an adjunct professor of Economics at Brown University, serves on the advisory board for the Center for Accounting Research and Education (CARE) at the University of Notre Dame, and is on the Board of Directors for the Innocence Project.

Richard J. Vella

Managing Director, BlackRock

Richard J. Vella, Managing Director, is responsible for driving the growth and product development of the Quantitative Investments Business at BlackRock. Previously, Richard was both CIO of Merrill Lynch Investment Managers Enhanced/Index investments and Senior Portfolio Manager for the Merrill Lynch Investment Managers Enhanced and Index portfolios. He joined Merrill Lynch Investment Managers in July, 1999. Richard has 25 years of investment experience. Prior to joining Merrill Lynch Investment Managers, Richard spent 14 years at Bankers Trust, where he was Managing Director and Head of the Global Index and Enhanced Index Funds, responsible for the investment of $240 billion in assets. At Bankers Trust he started the EAFE index fund in 1986 and the Enhanced International EAFE fund in 1992. He was the senior portfolio manager for the Enhanced EAFE index fund from 1992 to 1999. He was also member of Bankers Trust Investment Management Committee and the Bankers Trust Investment Operating Committee. Prior to 1983, Richard was a Senior Engineer and Systems Analyst at the Boeing Company where he designed mechanical systems for the 757 and 767 airplanes.

Mr. Vella earned a BS degree in mechanical engineering and a BA degree in business administration from Rutgers University, and an MBA degree in finance from University of Washington in 1985.

Krishna Ramaswamy

Professor of Finance, The Wharton School

Education

PhD, Stanford University, 1978; MBA, Duke University, 1973; BTech, Indian Institute of Technology, Kharagpur, India, 1971

Recent Consulting

Investment Management, Bankers Trust, International Monetary Fund

Academic Positions Held

Wharton: 1985-present (named Edward Hopkinson, Jr. Professor of investment Banking, 1998; Bankers Trust Term Associate Professor of Finance, 1985-90). Previous appointment: Columbia University. Visiting appointment: University of Chicago

Other Positions

Research Coordinator, Institute for Quantitative Research in Finance, 1979-89; Technical Staff Member, Economics Department, Bell Telephone Laboratories, 1977-79.

Anna Haskell

Analyst/Trader, QVT Financial LP

Anna Haskell is an analyst/trader for QVT Financial LP, a multi-billion dollar hedge fund based in New York City. She focuses on investments in energy and metals globally, and has a distressed/generalist mandate in East European emerging markets. Prior to joining QVT in April 2005 she managed her own trading portfolio, and prior to that she was with Duke Energy in Houston in energy acquisitions & divestitures. She has a BS in Economics and an MA in International Economic Relations from the Moscow State University of International Relations and an MBA in Finance and Entrepreneurial Management from the Wharton School of Business.

Renee Haugerud

Chief Investment Officer, Galtere Ltd.

Renee Haugerud is the Founder, Chief Investment Officer and Managing Principal of Galtere Ltd., with assets under management in excess of $1.2 billion. Galtere Ltd. is a registered investment advisor that currently manages three Commodity-based Global Macro Hedge Funds, the first of which was established in 1999.

Ms. Haugerud is noted for her unique methodology that combines a diverse profile and theme investment strategy along with rigorous risk management techniques. An early focus on exposures employing agricultural instruments and bio energy markets, as well as a belief in the potential of commodity markets since the late 1990s have been among the hallmarks of Ms. Haugerud’s successful investment career.

Ms. Haugerud has been trading in global financial markets on four continents since 1980. Her expertise spans all asset classes and instruments. She began her tenure in financial markets by trading cash commodity markets in the United States and Canada for Cargill Inc. and Continental Grain. Her interests in the relationship between financial markets and geopolitics led to her first international post in Geneva Switzerland, where she ultimately served as Cargill’s Foreign Exchange Trading Manager. During her 15-year career at Cargill, Ms. Haugerud developed expertise in a broad and diverse range of securities by assuming the positions of Manager of the US Fixed Income trading desk, Minneapolis, MN; Financial Division Manager of the Melbourne Australia Office; board membership of Cargill Australia; and finally Vice President/Structural Trading Manager at Cargill’s corporate headquarters in Minneapolis, MN.

Following her years at Cargill, Ms. Haugerud served as the Financial Trading Manager at Hunter Douglas N.A., New York. She also spent two years in Hong Kong with Natwest Markets Asian headquarters as the Head of Proprietary Trading for their Global Financial Markets.

Ms. Haugerud’s insight into how global markets are affected by the psychology and relationships of macroeconomic trends makes her a sought-after speaker and panelist at global investment events. Ms. Haugerud has been interviewed on CNBC, CNN and the PBS Nightly Business Report, and has also been profiled in Barron’s, eFinancial News, Forbes Magazine, ForbesLife Executive Woman, MAR Futures, Time and Trader Monthly.

Ms. Haugerud received her B.S. degree with Honors in Forest Resource Management from the University of Montana in 1980. She is active in the community of women and business leaders, a founding member of the Eleanor Roosevelt Legacy Project, and an active advocate for numerous global health initiatives.

Brigitte Posch

Executive Vice-President, PIMCO

Ms. Posch is an executive vice president in the Newport Beach office and a member of the emerging markets portfolio management team. Prior to joining PIMCO in 2008, she was a managing director and head of Latin American securitization and trading at Deutsche Bank. Ms. Posch was previously a director with Ambac, responsible for developing asset and mortgage-backed securities in emerging markets. Before joining Ambac, she was a vice president and senior credit officer with Moody's Investors Service in New York, responsible for rating asset and mortgage-backed securities in Latin America. She also worked in Sao Paulo, Brazil at Banco Inter-Atlantico/Credit Agricole, Citibank and ABN AMRO. She has 15 years of investment experience and holds an undergraduate degree from Mackenzie University of São Paulo.

Lee Spelman

Head US Equity Client Portfolio Managers, JPMorgan Asset Management

Lee Spelman, managing director,is the head of U.S. Equity Client Portfolio Managers. An employee since 1989, Lee was previously a senior research analyst in the U.S. Equity Research group following the computer systems, personal computer, software and storage sectors. She was also the global technology sector team leader. Prior to joining the firm, she was a partner and Director of Research at Martin Simpson & Co., a sell-side brokerage house specializing in technology research. Lee holds a B.S. in economics from the Wharton School of the University of Pennsylvania and is a CFA charterholder. She is a trustee of the University of Pennsylvania and a founding board member of Project YESS (Young Executives Supporting Schools). She holds FINRA Series 7, 24 and 63 licenses and is a member of The New York Society of Security Analysts.

Heidi Moore

Independent Business Writer (Moderator)

Heidi N. Moore is a financial journalist whose coverage focuses on Wall Street, particularly financial dealmakers at investment banks, private equity funds, hedge funds and in the government. Earlier, Moore was a staff reporter for the Wall Street Journal and lead writer of the paper's award-winning Deal Journal real-time column and Web site - both online and print - about mergers and acquisitions, capital-raising, investment banks, private equity and bankruptcies. Previously, she was U.S. Bureau Chief and senior U.S. correspondent for Dow Jones-owned securities industry publication Financial News and a senior writer covering Wall Street for The Daily Deal, where she was a founding writer of the weekly Movers & Shakers column in the magazine. She has also been a speechwriter for Maryland Lt. Governor Kathleen Kennedy Townsend as well as a writing assistant to the late author Diana Trilling. Heidi graduated from Columbia University in 1998 with a degree in English.