Mr. Garavente is a former colleague of Tony Cimmarrusti during their tenure at Merrill Lynch. At Merrill, Mr. Garavente was a Managing Director of the U.S. Treasury/Federal agency trading department. He left Merrrill to become the Head of Fixed Income Trading at Paine Webber. At Paine Webber, he was a member of the firm’s Asset/Liability Committee, the Operating Committee and was eventually promoted to the position of Global Risk Manager. In 1996, he resigned to invest privately, to pursue philanthropic endeavors, and to assist his wife, Carol, in raising their four children. Mr. Garavente graduated from Cornell University.