My Diary 698 --- PAUL A. THOMAS

http://www.cstonecp.com/management/thomas.html

PAUL A. THOMAS

President and Chief Investment Officer
Chair, Management Committee

Mr. Thomas has over 18 years of international fixed income experience. Most recently, he was a Managing Director and Co-Head of the Merrill Lynch Global Rates Group in New York, responsible for a multi-billion dollar revenue stream and overseeing 250 fixed income traders globally. Paul has also served in many regulatory and governmental advisory roles, including selection to the United States Treasury Borrowing Advisory Committee.

Current Professional Focus

Cornerstone Capital Partners
As a founding partner and Chief Investment Officer, Paul has direct responsibility for global macro and fixed income arbitrage trading, and oversees all domestic and offshore investments.

Professional Experience

Merrill Lynch, Inc. (New York, 2002-2003)
Managing Director and Co-Head, Global Rates Group. Oversaw multi-billion dollar revenue stream, and 250 traders in government bonds, mortgage-backed securities, municipal securities, commodities, financing transactions, and derivatives.

• Selected to United States Treasury Borrowing Advisory Committee of the Bond Market Association, a 15-member committee established by federal statute that meets quarterly at the Treasury Department. Membership is comprised of senior representatives from "buy-side" institutions and a number of the major commercial and investment banks. The Borrowing Committee makes observations to the Treasury department on the overall strength of the U.S. economy as well as providing recommendations on a variety of technical debt management issues.
• Selected as Vice-Chairman, Board of Directors, BrokerTec, a wholesale bond broker bought by ICAP for £180 million. Daily electronic broker volumes currently exceed US$300 billion per day.
• Selected as Co-Chairman, Global Debt Markets Title Committee.

Merrill Lynch Government Securities, Inc. (New York, 1999-2002)
Managing Director, President, and Chief Executive Officer responsible for the US Treasury and Agency businesses globally which doubled revenue and profitability during his tenure. Mr. Thomas also served on the debt title, risk management, and corporate diversity committees.

• Member of the Board of Directors of The Bond Market Association; selected as association Chair for the Primary Dealers Committee in 2000.
• Member of the Board of Directors of the Government and Federal Agency Division; selected as the division's Chair in 2001.

Merrill Lynch Canada (Toronto, 1993-1998)
President and Managing Director responsible for Canadian Debt Market operations.

• Selected as Chairman of the Investment Dealers Association Capital Markets Committee.

Goldman Sachs Canada (Toronto, 1988-1992)
Vice President and Senior Bond Trader

Citibank Canada (Toronto, 1985-1987)
Vice President and Senior Bond Trader

Athletic Achievements

• Team Canada Olympic Hockey Program, 1984
• Colorado Rockies Professional Hockey Organization (now the New Jersey Devils), 1980-1981
• Coaching Association of Canada, National Coaching Designation Certificate

Education

• Institute of Chartered Financial Analysts, Chartered Financial Analyst (CFA) 1992
• University of Western Ontario, Richard Ivey School of Business, Honors Business Administration (HBA) 1985
  • Dean's List 1984/1985
  • G. Howard Ferguson Award for highest achievements in athletics, academic and university life