Our Board of Directors presently consists of nine members: Joseph A. Jolson
, our Chief Executive Officer and Chairman, Craig R. Johnson, our Vice Chairman, Carter D. Mack, Mark L. Lehmann, Kenneth M. Karmin, our Lead Director, Glenn H. Tongue, H. Mark Lunenburg, David M. DiPietro and Jonathan M. Orszag.
Mr. Jolson has served in the combined roles of Chairman and Chief Executive Officer since 2004.
We believe that Mr. Jolson's
dual roles as Chairman and Chief Executive Officer are in the best interest of the Company and its shareholders as such structure creates unified leadership and a cohesive strategic vision for the Company.
As a founder, and with his
long history in the industries in which we operate and deep involvement in the operations of the Company, we believe Mr. Jolson
is uniquely positioned to identify and recommend to the Board strategic initiatives in light of company culture and opportunities.
Joseph A. Jolson, age 56, co-founded the Company in 1999, and is our Chief Executive Officer, the Chairman of the Board of Directors, and a member of our Executive Committee.
Mr. Jolson has served as our CEO since September 1999 and as Chairman of our Board of Directors since August 2004.
Mr. Jolson is also the Chief Executive Officer of Harvest Capital Strategies LLC and JMP Capital LLC and is a Portfolio Manager of Harvest Opportunity Partners II, L.P. and its related funds, one of our family of hedge funds and has served in such positions since 1999, 2007 and 2002, respectively.
Previously, Mr. Jolson 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.
was ranked as a top-five thrift analyst every year from 1985 through 1994 by Greenwich Associates
Mr. Jolson received a MBA degree with distinction from The Wharton School at the University of Pennsylvania and a BA degree from Yale University.
The Board believes that Mr. Jolson should serve as a director due to, among other factors, his status as a founder of the Company, his experience in the industries in which we operate and his successful management of the operations and the strategic directives of the Company since inception.
, Lehmann, and Mack, each of whom is both a director and an executive officer of the Company or one of its subsidiaries, may be found in the section above entitled "Nominees for Election as Directors.
Joseph A. Jolson
After consideration of such factors, as well as the bonus pool relative to the applicable compensation ratio with respect to the revenue mix, the Compensation Committee approved the grant of a bonus on the basis of such factors, as well as the performance of the funds and other business units to which our CEO, Mr. Jolson, contributes.