The ASBCM Team

	Senior Leaders
	Peter M. Welber Chief Executive Officer, Board Director Peter Welber is Chief Executive Officer of ASB Capital Management. He also is President and CEO of Chevy Chase Trust Company, and Director of the Callander Funds, a Luxembourg-based mutual fund complex. Prior to joining ASB Capital Management, Mr. Welber was President of Wachovia Trust Company and, before that, First Union Trust Company, in Charlotte, North Carolina. Mr. Welber also has served as President and Chief Executive Officer of CoreStates Asset Management, and Chief Operating Officer of Meridian Asset Management, both in Philadelphia. He received his undergraduate degree in Mathematics from Bucknell University and his Juris Doctor from Case Western Reserve University School of Law. Mr. Welber is a member of the Economic Club of Washington and Board Chairman of the Montgomery County Community Foundation.
	Walter R. Fatzinger, Jr. Vice Chairman Mr. Fatzinger is responsible for the strategic management for ASB Capital Management. He joined the firm in February of 1999. He has been in the investment business for over 34 years. Previously, Mr. Fatzinger served as President of First National Bank of Maryland’s greater Washington region and Executive Vice President of First National’s Institutional Bank beginning in 1994. In that role, he served as Chairman of Allied Investment Advisors, Inc., First National’s investment subsidiary. Prior to joining First National, he served as President of American Security Bank from 1991 to 1994. From 1988 to 1994, Mr. Fatzinger was appointed President and served as Chief Trust Officer of Security Trust Company (an affiliate of American Security Bancorp). He received a BA in Mathematical Statistics from George Washington University and a JD degree from American University.
	Investment Management Division
	John A. Edwards , CFA Chief Investment Officer Mr. Edwards is responsible for fixed income management at ASB Capital Management. He has 19 years of investment management experience. Mr. Edwards began his career with GIT Investment Funds, a mutual fund company, where he was responsible for security selection, asset allocation, research, and trading for fixed income and equity mutual funds. In October, 1996, Mr. Edwards joined First Virginia Bank, where he managed investment portfolios for institutional clients and high net worth individuals and families. He joined ASB Capital Management affiliate Chevy Chase Trust in January, 2003. Mr. Edwards is a graduate of the University of Maryland, where he earned both an undergraduate degree in Microbiology and a Masters in Business Administration with a concentration in Finance. He has earned the Chartered Financial Analyst designation.
	Ronald F. Perrone, CFA Client Service Mr. Perrone is responsible for overseeing all client service activities. He has 30 years of investment experience and joined ASB Capital Management in March 2000. Prior to joining ASB Capital Management, he was a Managing Director with Allied Investment Advisors and Director of Marketing with Legg Mason. Prior to that, Mr. Perrone had his own Investment Consulting firm. He attended Towson University, is a Chartered Financial Analyst, a member of the CFA Institute and an Associate member of Baltimore Society of Security Analysts.
	Brian Charles, CFA Sr. Vice President Mr. Charles is responsible for Corporate Credit Risk analysis and Corporate sector strategy and research. Before joining ASB in 2006, he spent 11 years in credit research, most recently as a senior high yield analyst with Friedman, Billings, Ramsey & Co. Prior to that, he was a senior investment grade analyst with Banc One Capital Markets, Inc. Mr. Charles received a BA in English from Colorado College and an MBA with a concentration in Finance from Georgetown University. He also holds the Chartered Financial Analyst designation.
	Sheryl Hudson Assistant Vice President Ms. Hudson is responsible for management of structured credit products, encompassing agency and non-agency mortgage-backed securities and consumer based asset-backed securities. She has 10 years of capital markets experience, including 4 years of trading and mortgage-backed securities research at GMAC-RFC. She started her career at the Federal Reserve Board Division of Research and Statistics, and also has worked with the Freddie Mac Securities Sales and Trading Group, Barclays Capital Interest Rate Strategies Group, and Banc of America Securities Risk Management Technologies Group. Ms. Hudson earned a degree in Economics and Finance from the State University of New York College at Buffalo, and a Masters degree in Financial Economics from American University.
	Martin J. McLaughlin Managing Director, ASB Capital Management President, Killian Asset Management Mr. McLaughlin is responsible for management, operations, and investment oversight of Killian Capital Management, a division of ASB Capital Management. Before joining Killian Asset Management in 1995 and being named its President in 2000, Mr. McLaughlin was Marketing Manager for two Fortune 500 companies, Pitney Bowes and SmithKline Beecham. Prior to that, he was an Investment Analyst at Investment and Capital Management Inc., obtaining his Securities licenses in 1987. He holds a B.A. in Business Administration from Illinois Wesleyan University.
	Kevin D. Moore, CFA Director of Equity Investments Mr. Moore is responsible for active equity portfolio management at ASBIM and its subsidiaries. He started his career as an analyst at the Ohio Company and then became Senior portfolio manager with First of America Corporation. Kevin next moved to Monetta as senior portfolio manager and was quickly promoted to Chief Investment Officer responsible for oversight and direction of five of Monetta’s seven funds. Mr. Moore graduated from the Greenville College with a B.A. in English and a B.A. Biology. Mr Moore received his M.B.A. from the University of Michigan and gained his Chartered Financial Analyst designation in 1990.
	William B. Hanley Portfolio Associate/Client Services Mr. Hanley is responsible for client service, consultant reporting, and business development in the Midwest. Mr. Hanley began his career at Edward Jones and Co. in 1996. He then joined Health Cost Control Recoveries Inc. servicing unions and public health plans. Mr. Hanley worked for 5 years at Killian Asset Management prior to joining ASB Capital Management. Current responsibilities include client service activities, research, reporting, and trading assistance. Mr. Hanley received a B.A. in Business Administration from Regis University in 1996.