Joseph A. Jolson
Joseph A. Jolson, Chairman of the Board of Directors.
Mr. Jolson co-founded JMP Group Inc., now JMP Group LLC (NYSE: JMP), in 1999 and is its Chief Executive Officer, chairman of the board of directors and a member of the executive committee.
He is also the Chief Executive Officer of Harvest Capital Strategies and is a portfolio manager of Harvest Opportunity Partners II, L.P.
Previously, he was a senior managing director and senior research analyst at Montgomery Securities, now Banc of America Securities, for 15 years.
Prior to that, he was a consulting research analyst at Fidelity Management and Research in Boston in 1983 and 1984 and at Donaldson, Lufkin & Jenrette in New York from 1980 through 1982.
was named to Institutional Investor magazine's All-America Research Team for 10 consecutive years, between 1986 and 1995, for his
coverage of the savings and loan industry and was also selected as an All-Star Analyst by the Wall Street Journal
in the financial services category in 1996 and 1997.
In addition, he
was ranked as a top-five thrift analyst every year from 1985 through 1994 by Greenwich Associates
He received a B.A. degree from Yale University and an M.B.A. degree with distinction from The Wharton School at the University of Pennsylvania.
As a result of these and other professional experiences, Mr. Jolson
possesses extensive knowledge and has deep experience in managing investment companies, financial analysis, corporate governance, strategic planning, business evaluation and oversight, all of which strengthen the Board's collective qualifications, skills and experience.
Presently, Mr. Jolson serves as the chairman of our Board of Directors.
As noted above, Mr. Jolson
is an "interested person" of the Company as defined in Section 2(a)(19) of the 1940 Act.
We believe that Mr. Jolson's history with our company, familiarity with its investment platform, and extensive knowledge of the financial services industry qualify him to serve as the chairman of our Board of Directors.
We believe that we are best served through this existing leadership structure, as Mr. Jolson's relationship with our investment adviser provides an effective bridge and encourages an open dialogue between management and our Board of Directors, ensuring that these groups act with a common purpose.