Islam Al Bayaa
Executive Vice President, Managing Director — Kessler Financial Services International

Islam Al Bayaa joined The Kessler Group in June 2004 to lead the company's Investment Banking Group from London.

Prior to joining The Kessler Group, Mr. Al Bayaa worked in M&A at Schroder Salomon Smith Barney, now a part of Citigroup, and Hawkpoint, a corporate finance boutique firm focusing on financial institutions and the consumer finance market. He advised on several transactions, including the sale of Alliance & Leicester's credit card business (£800m), the sale of Abbey National's credit card business (£240m), the MBO of Cabot Financial (£100m), and the London Stock Exchange listing of Investec.

Mr. Al Bayaa qualified as a Chartered Accountant (ACA) with KPMG in 1994. He has a Masters in Finance from the London Business School and a Masters in Mathematics from Cambridge University.

Patrick T. Aylmer
Executive Vice President, Strategic Planning & Operations

Patrick Aylmer is responsible for Strategic Planning & Operations at The Kessler Group. During his tenure, he has worked extensively in the investment banking, business development, and corporate departments on key client relationships, including MBNA, Bank of America, and Fleet.

Mr. Aylmer joined the company in 2002 from Staples, where he was the Director of Global Credit Marketing, overseeing the company's private label credit card and loyalty programs. He also developed Staples' retail, online, and catalog payments strategies, including association interchange negotiations.

Mr. Aylmer holds a BA from Middlebury College and an MBA from Boston College.

Marc Bellanger
Senior Vice President

Since joining The Kessler Group in 2002, Marc Bellanger has held relationship management and marketing roles for some of our key clients, including Bank of America and HSBC. Mr. Bellanger currently manages Kessler's Program Management Team, which is responsible for all acquisition and portfolio marketing for HSBC's Union Plus credit card.

Prior to joining Kessler, Mr. Bellanger held strategic marketing positions with Chase Manhattan, Partners First Holdings, and MBNA in both the US and UK. His experience in the credit card and consumer finance industries covers product development, new account acquisition, existing account retention, and loyalty program development.

Mr. Bellanger holds a Bachelor of Science in Business Administration from Georgetown University and an MBA from Babson College.

Sean Bourgeois
Senior Vice President, Corporate Development

As a member of the corporate team, Sean Bourgeois works with executive management to build businesses within The Kessler Group that are successful and results-driven. In this role, he is responsible for understanding the competitive dynamics of each of The Kessler Group's businesses, recognizing new opportunities, developing new business initiatives, and implementing corporate and business level strategies for the company.

Mr. Bourgeois joined The Kessler Group from Yahoo!, where he was a member of the senior management team. His responsibilities included managing daily operations of the Publisher Network while overseeing strategy and international expansion for the company's paid search and contextual advertising products.

Prior to Yahoo!, Mr. Bourgeois was General Manager of Euroweb International, a pan-European Internet services company. Earlier in his career, he held senior positions at AIG, Xerox, and Putnam Investments.

Sean holds a BA from Brown University and an MBA from the University of Chicago Graduate School of Business.

Keryn N. Brunner
Executive Vice President, Managing Director — Australia

Keryn Brunner joined The Kessler Group in August 1998 to manage the company's business in Australia. In this role, Ms. Brunner has positioned The Kessler Group as the market leader in Australia's affinity market and spearheaded the company's expansion into Taiwan.

Prior to joining The Kessler Group, Ms. Brunner spent a year working on co-brands and product development for MasterCard International in Australia and five years leading global marketing initiatives for MasterCard International in the U.S. Before joining MasterCard, Ms. Brunner worked for five years at Ernst & Young in Wellington, N.Z., and Sydney, in both marketing and auditing roles.

Ms. Brunner has a Master of Commerce from the University of New South Wales, Australia, and a Bachelor of Business Studies (Marketing and Accounting) from Massey University, New Zealand.

Diane R. Brusnighan
Executive Vice President

Since joining The Kessler Group in 1991, Diane Brusnighan has been a major contributor to the rapid expansion of the company's direct mail business, which totals more than 1 billion pieces of mail and has grown dramatically in complexity. Ms. Brusnighan is responsible for overseeing all direct mail activities for more than 10 major programs, including HSBC, Genworth, and a variety of key new business efforts.

Ms. Brusnighan has been instrumental in raising The Kessler Group's level of sophistication and value to our clients by continually finding ways to reduce costs while shortening timelines in an industry that has become increasingly challenging.

Ms. Brusnighan holds a BA from Iowa State University.

Robert F. Curry
Executive Vice President, Managing Director

Bob Curry is responsible for consumer credit card loan portfolio acquisition activities for The Kessler Group, including business planning and financial analysis. Mr. Curry joined the company in May 2001 from Citigroup, where he led business development and credit card acquisition activities. He has completed over $25 billion in consumer credit acquisitions and is an accomplished and recognized consumer portfolio valuation expert.

Mr. Curry holds a BE in Mechanical Engineering from Manhattan College and an MBA in Finance from Long Island University.

Todd J. DaCosta
Executive Vice President

Todd DaCosta is the national sales manager for all business development and acquisition activities in the Financial Institution marketplace of The Kessler Group. He joined the company in 1988 and has 19 years of experience in the credit card business. Prior to joining the company, Mr. DaCosta was employed at First Data Resources.

Mr. DaCosta holds a BSBA from Nichols College.

Greg Fisher
Senior Vice President

Greg Fisher currently manages The Kessler Group's Risk Syndication business and is responsible for facilitating the sales and marketing aspects of various client partnerships.

In 2000, Mr. Fisher left Kessler to start an Internet marketing company working with clients such as Discover Card and Dun & Bradstreet. The company grew to 25 marketing and technical consultants before being sold to the largest independent media conglomerate in Europe. In 2002, Mr. Fisher returned to Kessler to lead the Alternative Channels department, at which point Risk Syndication was included in his responsibilities.

Prior to Mr. Fisher's first stint at Kessler, he worked in Moscow, Russia, for two years at a USAID-funded investment firm that had been founded to help medium-sized Russian businesses transition to a free market economy. Mr. Fisher is proficient in Russian.

Mr. Fisher has a BA from the College of the Holy Cross and an MBA from the Carroll Graduate School of Management at Boston College.

Steven P. Fuld
Senior Vice President

Steven Fuld founded and is responsible for the credit union business unit within The Kessler Group. Under his leadership, the company has developed credit card outsourcing solutions for credit unions to improve the financial returns of their portfolios and dramatically enhance the products and services offered to their members. Mr. Fuld continues to evolve the company's credit union business unit by developing solutions to complement and enhance auto loan and real estate based lending offerings in the credit union market.

Prior to joining The Kessler Group in 1999, Mr. Fuld spent six years at companies now part of Citigroup, in marketing, finance, and business development roles.

Mr. Fuld holds a BA from Emory University.

Mitchell A. Glazier
Senior Vice President

Mitch Glazier oversees marketing strategy, creative development, and analytics for all marketing programs managed by The Kessler Group. Mr. Glazier has been a part of the company's marketing department for more than 15 years and has worked on existing and new business development for many of the company's partners, including HSBC, US Bank, AMEX, FNBO, Bank of America, Genworth, and The Hartford.

Prior to joining the company in 1988, Mr. Glazier held various senior marketing positions at Fortune 500 companies, including Fidelity Investments and SmithKline Beecham.

Mr. Glazier holds a BA from Bowdoin College and an MBA from Columbia University.

Adèle MacKinlay
Client Director, Kessler Business Solutions

Adèle MacKinlay joined The Kessler Group in 2006 to serve as Client Director for Kessler Business Solutions (KBS), a new business unit within Kessler Financial Services International. KBS focuses on building new business relationships with clients who are interested in growing their business through partnership and other distribution channels. KBS provides clients with strategic marketing advice, channel and campaign marketing, relationship management solutions, and credit risk management. Ms. MacKinlay is responsible for overseeing the day-to-day relationship of each KBS client while also supporting Andrew Pople as part-time Administration Director for KFSI.

Prior to joining The Kessler Group, Ms. MacKinlay spent 13 years at MBNA UK in operational, marketing, and administration senior positions.

Ms. MacKinlay received a BA in Modern Languages from the University of Manchester in 1993.

Garry MacKinlay
Managing Director, Kessler Business Solutions

Garry MacKinlay joined The Kessler Group in 2006 to create and manage Kessler Business Solutions (KBS), a new business unit within Kessler Financial Services International. KBS focuses on building new business relationships with clients who are interested in growing their business through partnership and other distribution channels. KBS provides clients with strategic marketing advice, channel and campaign marketing, relationship management solutions, and credit risk management.

Prior to joining The Kessler Group, Mr. MacKinlay was a Director at MBNA Europe, where he fulfilled a number of senior executive roles over the course of eight years. He was the Marketing Director from 2001 to 2004, responsible for all MBNA Endorsed, Affinity, and Co-Brand relationships, new customer acquisition, and existing customer marketing. Prior to 2001, he ran Customer Marketing, Database Marketing, Pricing Strategies, and Telemarketing. Mr. MacKinlay worked in Q&P (Six Sigma) at GE prior to MBNA, and before that he was an officer in the Royal Marines Commandos.

Mr. MacKinlay holds an MSc from the University of Edinburgh and BSc from the University of St. Andrews.

Kevin B. Mulligan
Senior Vice President

Kevin Mulligan is responsible for all portfolio acquisition activity for the Community Financial Institution market. He has been with The Kessler Group since 1997. Mr. Mulligan brings over 15 years of credit card experience to his position.

Prior to joining the company, Mr. Mulligan spent two years with First Data and four years with BayBank, now a part of Bank of America.

Mr. Mulligan holds a BS in Economics and Finance from Bentley College.

Ray Nakhwa
Associate Director of Investment Banking, KFSI

Ray Nakhwa joined The Kessler Group in 2006 and is the Associate Director of Investment Banking for Kessler Financial Services International (KFSI). In this capacity, Mr. Nakhwa manages the execution of portfolio transactions and origination of whole business transactions in Europe.

Prior to joining The Kessler Group, Mr. Nakhwa was a member of the Financial Institutions Team at KPMG Corporate Finance, specializing in consumer finance transactions and involved in the successful completion of a number of finance deals, including the following: advised WesBank, a division of FirstRand Bank, on its acquisition of the business and assets of Carlyle Finance, a motor finance provider (total assets £250m); advised Kingfisher plc on the sale of their retail finance arm, Time Retail Finance to GE Capital (£149m); and advised Wesleyan Assurance Society and Commonwealth Bank of Australia on the disposal of their UK mortgage portfolios (total assets £130 million).

Mr. Nakhwa holds a BSc from the University of Warwick and is a member of the Institute of Chartered Accountants in England and Wales.

John L. Schilhab
Senior Vice President

John Schilhab is charged with developing, implementing, and growing the US affinity insurance market for The Kessler Group. Mr. Schilhab sets the business level strategy for the unit, establishes strategic product and distribution relationships, provides multigenerational product planning, and directs a team of account acquisition business development officers.

For the 13 years prior to joining The Kessler Group, Mr. Schilhab held various national positions with GE Financial/Genworth Financial, including that of National Director of Strategic Relationships.

Mr. Schilhab holds a Bachelor of Science in Business Administration from the University of Houston.

David Silberman
Executive Vice President

David Silberman manages The Kessler Group's insurance business, whose clients include the Hartford Life & Accident Insurance Co., Union Labor Life Insurance Co., and the AFL-CIO Mutual Benefit Fund. Mr. Silberman also serves as a Senior Marketing Strategist for the company's strategic marketing practice.

Prior to joining the company's management team in 1999, Mr. Silberman held a variety of positions with the AFL-CIO. He was one of the founders of Union Privilege, the benefits arm of the AFL-CIO, served as its General Counsel for 12 years, and then as its President and Chief Executive Officer for five years.

Mr. Silberman is a graduate of Brandeis University and Harvard Law School.

David Smith
Senior Executive Vice President, Managing Director

David Smith is responsible for Kessler's North America mergers and acquisitions.

Mr. Smith brings deep expertise in the payments industry to Kessler, having spent 10 years at First Annapolis Consulting where he co-managed the firm's card-issuing practice — its largest and most successful practice area — and worked with leading financial institutions around the world.

While at First Annapolis, Mr. Smith developed comprehensive re-entry strategies for banks with diverse capabilities and outsourcing needs. He was closely involved with all stages of the entry process, from directing RFPs for processing and negotiating contracts to overseeing marketing collateral and direct mail campaigns. During his tenure at First Annapolis, he also assisted in some of the highest-profile M&A transactions of the last decade, including Sony Corporation's $1.2 billion portfolio sale to Chase Card Services.

Prior to his work at First Annapolis, Mr. Smith was Director of Finance at Commercial Credit. He was also head of Strategic Planning at Traveler's Bank.

Mr. Smith holds an undergraduate degree from Duke University and an MBA from the Harvard Business School.

Frank R. Spellman
Executive Vice President, Senior Financial Officer

As Senior Financial Officer, Frank Spellman oversees all of The Kessler Group's budgeting, forecasting, and expense control for the company worldwide.

Prior to joining The Kessler Group, Mr. Spellman worked for several years in commercial credit and lending at Fleet Bank.

Mr. Spellman joined the company upon his graduation from Babson College's MBA program in 1997. He also holds a BA in Economics from the College of the Holy Cross.

Roger J. Van Duinen
Executive Vice President

Roger Van Duinen joined The Kessler Group in 2005 after having spent over 13 years in the credit card industry. Mr. Van Duinen is responsible for the management and growth of multiple lines of business that support the company's relationship with HSBC.

Prior to joining The Kessler Group, Mr. Van Duinen was an owner and Executive Vice President of Marketing and Risk Management of Universal Savings Bank, F.A. Mr. Van Duinen also operated a successful consulting practice, whose clients included FirstRand National Bank of South Africa, Farallon Capital Management, and GE Capital. Previously, he was Executive Director at Providian Financial Group and was subsequently responsible for the credit card operations in the U.K. for Providian.

Mr. Van Duinen has an undergraduate degree from the University of Michigan.

Stephen Varrichio
Senior Vice President

Stephen Varrichio is responsible for the management and growth of multiple lines of business that support the company's marketing relationship with Washington Mutual. In this capacity, he helped oversee the launch and management of Kessler's San Francisco agency. Mr. Varrichio also played an important role in establishing and growing Kessler's Procurement Practice which now delivers over $45 million annually in client cost savings.

Mr. Varrichio initially joined Kessler in 1994 and was responsible for the development of new clients and business opportunities, including the launch of KFS' international division and establishing offices in Australia and Europe.

Mr. Varrichio returned to Kessler after spending several years at Akamai Technologies, where he served as Global Alliance Manager and was responsible for development of the company's strategic channel sales partners.

Mr. Varrichio holds a BA from The University of Vermont.

David C. Wadman
Special Advisor to the Chairman and Managing Director of Marketing and Production

For more than 16 years, David Wadman has played a key role within The Kessler Group's senior management team, serving as Vice Chairman and Chief Financial Officer. In his current role, Mr. Wadman is responsible for managing the company's direct response marketing division. In addition, he serves as a special advisor to Howard Kessler.

Mr. Wadman joined The Kessler Group from The Mediplex Group, Inc. in 1989. Prior to The Mediplex Group, Inc., Mr. Wadman worked for two "Big Five" accounting firms where he gained valuable financial experience and became a Certified Public Accountant.

Mr. Wadman holds a BA from Hobart College and an MBA from Babson College. He is a member of the American Institute of Certified Public Accountants and the Massachusetts Society of Certified Public Accountants.

Steve Webb
Senior Vice President

Since joining The Kessler Group in 1996, Steve Webb has been instrumental in building and managing key accounting and control functions, including cash flow maximization, general ledger reporting, international consolidations, overhead tracking and review, and the implementation of accounting and information technology policies and procedures for all company entities. Mr. Webb also manages the day-to-day operations of The Kessler Group's Accounting and IT departments.

Prior to joining the company, Mr. Webb worked for nearly five years in the audit practice of KPMG Peat Marwick, becoming a Certified Public Accountant in 1994.

Mr. Webb holds a BA from the College of the Holy Cross and an MS/MBA from Northeastern University.