C. Cathleen Raffaeli has been a director of the Company since April 2003 and Lead Independent Director since March 2008. Ms. Raffaeli is President and Managing Director of Hamilton White Group, LLC, an investment and advisory group providing strategic partnering, business development, and sales and marketing strategy to companies in financial services growth markets and education sectors. From 2004 through 2006, Ms. Raffaeli was the Chief Executive Officer and President of Cardean Learning Group, a privately held company that develops and delivers innovative online education using advances in cognitive science and technology. Prior to 2004, she was a Managing Partner of Hamilton White Group, LLC, the position to which she returned in 2006. Ms. Raffaeli serves as a Washington appointed, public interest Director of the Federal Home Loan Bank of New York. She is also a Director of American Home Mortgage Holdings, Inc. Ms. Raffaeli received a Bachelor of Science degree from the University of Baltimore and a Master of Business Administration degree from New York University. Ms. Raffaeli is the Chairman of the Compensation Committee.
