Avy Hirshman is a Managing Director and Chief Investment Officer. Mr. Hirshman is responsible for investment strategy, asset allocation and security selection. He earned his BS in International Finance from Northeastern University and was formerly a research analyst with Scudder, Stevens & Clark. Mr. Hirshman joined Newgate in 1993. He has lived and traveled throughout the emerging markets and his comments regularly appear in The Wall Street Journal, The New York Times, Barron's, BusinessWeek, Emerging Markets Week and Bloomberg Business News.

James Trainor is a Managing Director and Senior Portfolio Manager. He is responsible for asset allocation, portfolio management and security selection. He holds an MBA in Finance from Columbia University, a BS in Mechanical Engineering from the University of Vermont, and the Certified Investment Management Analyst (CIMA) and Certified Investment Strategist (CIS) designations from IMCA. He is an Editor of the Newgate Market Monitor and a frequent emerging markets lecturer for the Investment Management Consultants Association and Smith Barney's Consulting Group University. Mr. Trainor's reports have been published nationally in the IMCA Monitor, and his comments on international markets have appeared regularly in The Wall Street Journal, The New York Times, Barron's, The Wall Street Transcript, World Equity and Bloomberg Business News.

Sonia Rosenbaum, Ph.D., is a Managing Director and Director of Research. She is responsible for all quantitative systems and research. In 1982, Dr. Rosenbaum founded Newgate as one of the first purely quantitative investment research firms. She holds BS, MS and Ph.D. degrees from Purdue University and was a Professor at the University of Massachusetts. During Dr. Rosenbaum's distinguished academic career, she authored four books on statistical analysis and research methods, including Quantitative Methods and Statistics. Born in Latin America, Dr. Rosenbaum speaks five languages. As one of the earliest proponents of modern portfolio theory in the City of London, Dr. Rosenbaum pioneered the development of practical applications of quantitative analysis in international investing.

Matthew Peterson is a Director and Portfolio Manager. He is responsible for portfolio risk management and product development. Prior to joining Newgate, he was the Chief Investment Officer at Lydian Wealth Management from 1995 to 2005. Mr. Peterson holds a Master of Science in Industrial Administration (MBA) with concentrations in Finance and Economics from Carnegie Mellon University and a Juris Doctor degree with specialized study in Corporate Securities, Banking and Tax law from the University of Pittsburgh School of Law. He was also awarded a cum laude Bachelor of Arts Degree from the University of Connecticut. He is a member of the Bar Association of the District of Columbia and adjunct faculty at American University.

David K. Lee is a Portfolio Manager and Investment Director. He is responsible for portfolio risk management, product development and portfolio customization. He holds a BS degree from the Wharton School of Finance, University of Pennsylvania and an MBA degree from the Anderson Graduate School of Management, UCLA. Prior to joining Newgate in 2007, Mr. Lee was Portfolio Manager/Asia Equity as part of the Global Emerging Markets multi-strategy fund for the Rohatyn Group from 2003 to 2007 and Lead Portfolio Manager-Global Emerging Markets at Lazard Asset Management from 1994 to 2001. Mr. Lee is conversant in Korean.

Maria Eugenia Tinedo is a Director and Portfolio Manager. Prior to joining Newgate, Ms. Tinedo was equity research analyst at Deutsche Bank and Citigroup Asset Management. At Citigroup, she was also portfolio manager of a Latin American focused fund. She holds a degree in Industrial Engineering from the Universidad Católica and an MBA from El Instituto de Estudios Superiores de Administración (IESA), both in Caracas. In addition, she earned a Masters in Economics and Finance from the University of Warwick in England. Born in Venezuela, Ms. Tinedo is a fluent Spanish speaker.

Judith Timoll is a Director and Portfolio Advisor. She joined Newgate's Investment team in 1994. She is responsible for product development, portfolio customization and institutional client relations. She has lectured on emerging markets at numerous educational seminars throughout the country. She has an MBA in International Business from Fordham University, a BA from the State University of New York and is an active member of the Investment Management Consultants Association (IMCA). Born in London, Ms. Timoll is a fluent French speaker.

John Edwards is a Director and Investment Specialist. He is responsible for product development and portfolio customization. Mr. Edwards has over 20 years of international investment advisory experience. Prior to joining Newgate, Mr. Edwards was the National Director for Ivory & Simes and Managing Director for State Street Global Advisors. Born in London, Mr. Edwards has traveled extensively throughout the world and is a frequent speaker at industry conferences, educational seminars and investor forums. He holds a BS in Economics from Worcester College in England.

Gregory MacFarlane is a Director and Head of Global Trading. He is responsible for managing the firm's U.S. and international equity securities trading function, supervising all traders on a 24 hour trading desk. Mr. MacFarlane works with the firm's investment committee and risk management professionals to monitor overall trading expenses and quality of execution. He joined Newgate in 2003 and became a Member of the Firm in 2006.  He graduated with a BA in Economics from Colby College in Maine. Prior to Newgate, Mr. MacFarlane was an equity trader at Para Advisors, a New York based hedge fund.