Ronald Grobeck, CFA
Managing Director, Portfolio Manager and Head of Credit Portfolio Management
Ron Grobeck is responsible for the overall management of Rabobank's Corporate Securities Portfolio Management group, including portfolio management, trading, structuring, analytics and operations. Mr. Grobeck has over 20 years of experience in corporate credit investment and analytics.

Mr. Grobeck came to Rabobank from the Carlyle Group, where he was a Managing Director and Portfolio Manager, as well as head of marketing and investor relations in their Leveraged Finance Group. Prior to Carlyle, Mr. Grobeck was at Fischer Francis Trees & Watts (FFTW), a global fixed income management firm with over $35 billion under management, where he served as Senior Portfolio Manager and Head of High Yield Investments. While at FFTW, Mr. Grobeck established the firm's high yield business, launched its first U.S. high yield mutual fund, and managed the high yield assets of its institutional clients. Prior to FFTW, Mr. Grobeck spent nine years with Reliance Group Holdings as Vice President of Investments, where he served as portfolio manager for the firm's high yield and emerging market portfolios. Mr. Grobeck also has prior experience as a high yield and bankruptcy analyst at R.D. Smith and Company, and held senior positions at Ropart Partners as a Managing Director and at JP Morgan as a Vice President of Corporate Finance.

Mr. Grobeck, a chartered financial analyst, earned an M.B.A. in Finance and Accounting from Columbia University Graduate School of Business and a B.A. in Economics from the University of California, Berkeley.

Doreen Crawford, CPA, CFA
Managing Director and Senior Portfolio Manager
Doreen Crawford oversees the team that selects and evaluates CDO investments across Rabobank's Conduit, balance sheet and CDO portfolios. She also manages several ABS CDO portfolios. She has 19 years of experience in structuring CDOs, ABS and interest rate/credit derivative products.

Prior to joining Rabobank, Ms. Crawford was a Director at Merrill Lynch, where she structured CBOs and CLOs totaling over 1.5 billion. Previously, she spent over ten years in the derivative products groups of both Lehman Brothers and Bear Stearns where she was responsible for structuring and selling structured interest rate and credit products.

Ms. Crawford has a B.A. from Queens College and an M.B.A. from the Stern School of Business, New York University. She is a Chartered Financial Analyst and a Certified Public Accountant.

John Randolph Watkins
Executive Director, Head of Research and Portfolio Manager
Mr. Watkins acts as both portfolio manager and head of research for Rabobank's Corporate Securities Portfolio Management group. His responsibilities are divided into overseeing the research and analysis of specific industries with a view towards making recommendations of market weight, under/over weight, underwriting individual transactions, and monitoring the credit quality of each of the portfolios.

Prior to joining Rabobank in October 2002, Mr. Watkins had been a Managing Director at Société Générale which he joined in 1993 to head Société Générale's Loan Syndications efforts in the Americas. Mr. Watkins had been involved in all aspects of loan syndications including structuring, pricing and distributing transactions. He had focused on a variety of industries including Automotive, Real Estate, and Sponsored deals, handling deal volume averaging $10 billion annually. Before joining Société Générale, Mr. Watkins worked in a variety of credit capacities on both the lending side as well as in syndications at Swiss Bank, Citibank and Chemical Bank.

Mr. Watkins has over 25 years of credit experience over a broad number of industries. Mr. Watkins successfully completed Chemical's Credit Training Program, and holds a B.A. from Princeton University.

John T. Spellman
Executive Director, Research
John T. Spellman is an investment professional with nearly thirty years of experience as an analyst. He has focused on the energy and utility sectors for much of his career, and has significant experience analyzing companies across a broad range of industrial sectors as well, covering both high grade and high yield debt markets. Prior to joining Rabobank, Mr. Spellman was Director of Research at Crossroads LLC, a firm involved in consulting to companies and creditors involved in workouts and restructurings, as well as process improvement. Earlier, he was a senior "sell-side" fixed income analyst at CIBC World Markets and at Deutsche Bank Securities. Mr. Spellman led analyst teams at Moody's Investor's Service, and was responsible for energy and telecommunications ratings as well as food, tobacco and spirits, hotels and casino ratings. His "buy side" experience includes private placement lending at two leading U.S. insurers. Mr. Spellman completed corporate credit training at Manufacturers Hanover (now JPMorgan Chase). He earned his MBA at Columbia Business School and his bachelor's degree at Brown. Mr. Spellman is a member of a number of professional analyst groups, including the New York Society of Security Analysts, the Fixed Income Analysts Society, and the Wall Street Utility Group.

Craig Bonder
Executive Director and Senior Portfolio Manager
Craig Bonder joined Rabobank in 1998 and has extensive experience in analyzing, sourcing and trading synthetic and cash RMBS and CDOs. Mr. Bonder serves as Senior portfolio manager for two of Rabobank's cash mezzanine ABS CDOs , Solstice I and Vermeer I. He also has led Rabobank's efforts in the Synthetic and Hybrid ABS arena serving as the Portfolio Manager for Bayberry Funding CDO and Hamilton Gardens, Rabobank's first Long Short ABS CDO. Mr. Bonder is responsible for the evaluation and acquisition of a variety of structured securities (ABS, MBS, CMBS and CDOs).

Previously, he worked as a trader on the money markets desk, actively trading a $12 billion Commercial Paper program and funding Rabobank's balance sheet in the USD and Euro cash market.

Mr. Bonder has a B.S. in Applied Economics and Business Management from Cornell University and an MBA from Columbia University.

Wendy Rosenfeld
Vice President and Portfolio Manager
Ms. Rosenfeld is responsible for quantitative and qualitative evaluation of structured securities concentrating predominately on the Residential and Student Loan sectors. She is the portfolio manager for two ABS CDO portfolios: Fox Trot CDO and Vermeer II ABS CDO. Ms. Rosenfeld joined Rabobank in 2002.

She has a B.A. in Economics from the University of Rochester and an M.B.A. in Finance and Strategy from the Yale School of Management.

Eric Hurshman
Executive Director, Research
Mr. Hurshman is a research industry analyst performing quantitative and qualitative analysis on the portfolio investments in the Corporate Securities Portfolio Management. Mr. Hurshman has been with Rabobank for more than seven years and came to the Corporate Securities Portfolio Management Group from the bank’s Chicago office, where he was head of credit for the Food & Agribusiness and Media & Telecommunications groups. In this capacity, Mr. Hurshman supervised a team of analysts and oversaw all aspects of the credit process for a large portfolio of syndicated leveraged loans. Before joining Rabobank, Mr. Hurshman worked for five years at two other banking institutions with a focus on cash flow lending. Mr. Hurshman holds an MBA from DePaul University in Illinois, with a concentration in Management Accounting, and a B.S. degree in Economics and History from DePauw University in Indiana.

Tina Cao
Vice President
Ms. Cao joined Rabobank in April 2006. She is responsible for analyzing and modeling potential CDO purchases for Rabobank's various vehicles as well as prospective structures to be managed by the team. Prior to joining Rabobank, Ms. Cao worked at JPMorgan Chase & Co. for five years, most recently in the CDO group where she structured CLOs.

Ms. Cao has a B.S. in Biochemistry from Cornell University.

Jeremy Wilcox
Associate
Mr. Wilcox supports senior team members with the quantitative and qualitative evaluation of structured securities. He assists in the various aspects of execution, surveillance, and portfolio composition for Rabobank's vehicles. Mr. Wilcox was a member of Rabobank's Investment Banking Services division for five years before joining Structured Product Portfolio Management. Prior to Rabobank, he spent three years in operations at Bank of Tokyo-Mitsubishi.

Mr. Wilcox has a B.A. from Cornell University.

Tamara Zaliznyak
Vice President
Ms. Zaliznyak began her career with Rabobank in May 2005. She supports senior team members with the quantitative and qualitative evaluation of residential mortgage-backed transactions. Prior to joining Rabobank, Ms. Zaliznyak worked in the Asset Finance group at Moody's Investors Service for five years. At Moody's, Ms. Zaliznyak analyzed numerous asset-backed and mortgage-backed securities covering all aspects of the securitization process.

Ms. Zaliznyak holds a B.B.A in Finance from Baruch College/CUNY and is a candidate for a M.S. in Real Estate from New York University.

Daymian Campbell
Vice President, Research
Mr. Campbell is a research industry analyst performing quantitative and qualitative analysis on the portfolio investments in the Corporate Securities Portfolio Management. Mr. Campbell joined Rabobank in August 2002. In 2001, Mr. Campbell worked as a Summer Associate in Rabobank's Loan Syndications Group, while attending the Yale School of Management. Prior to attending the Yale School of Management, Mr. Campbell was an Assistant Vice President in Market Risk Assessment at HSBC. While employed at HSBC, Mr. Campbell was responsible for publishing and reviewing the Global Market Risk Reports used by senior management to make critical decisions regarding trading and investment portfolio content and policy. Mr. Campbell graduated from the Yale School of Management with an M.B.A in Finance and Strategy in May 2002. Mr. Campbell also holds a B.S. in Mechanical Engineering from Yale University.