Glenn A. Bickley

Research Analyst
Joined Sands Capital in 2010

Sands Capital (2013-2014)
Arlington, VA • Sr. Research Associate

Sands Capital (2010-2013)
Arlington, VA • Research Associate

Westfield Capital Management (2008-2009)
Boston, MA • Client Service Associate

Middlebury College

BA, Psychology (2008)

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Brandon L. Caywood

Client Relations Supervisor
Joined Sands Capital in 2008

Sands Capital (2008-2015)
Arlington, VA • Sr. Client Relations Analyst

Victory Capital Management (2003-2008)
Cleveland, OH • Sr. Client Services Representative

Key Bank (2000-2003)
Cleveland, OH • Fund Accountant

Cleveland State University

MBA, Finance (2002)

Kent State University

BBA, Finance (2000)

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Emerson F. Bluhm, CFA

Research Analyst
Joined Sands Capital in 2010

Sands Capital (2012-2014)
Arlington, VA • Sr. Research Associate

Sands Capital (2010-2011)
Arlington, VA • Research Associate

Washington & Lee University

BS, Accounting and Business Administration (2009)

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Nadia N. Dettman, CFA

Sr. Manager, Planning and Analytics
Joined Sands Capital in 2008

Sands Capital (2014-2016)
Arlington, VA • Manager, Planning and Analytics

Sands Capital (2012-2013)
Arlington, VA • Sr. Business Initiatives Associate

Sands Capital (2011-2012)
Arlington, VA • Business Initiatives Associate

Sands Capital (2008-2011)
Arlington, VA • Research Associate

Dickinson College

BA, International Business and Management (2008)

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Davis M. Catlin, CFA

Research Analyst
Joined Sands Capital in 2007

Sands Capital (2007-2010)
Arlington, VA • Research Associate

Columbia University

MBA, Columbia Business School (2013)

London Business School

MBA, London Business School (2013)

Washington & Lee University

BS, Business Administration (2007)

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Alexandra E. Williams

Portfolio Communications Analyst
Joined Sands Capital in 2011

Sands Capital (2013-2015)
Arlington, VA • Portfolio Communications Associate

Sands Capital (2011-2013)
Arlington, VA • Business Development Associate

Condo 1 Inc. (2009-2011)
Arlington, VA • Head of Marketing, Financial Analyst

Duke University

MBA, Finance, Fuqua School of Business (2016)

University of North Carolina – Chapel Hill

BSBA, Kenan-Flagler Business School (2009)

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Brian A. Christiansen, CFA

Portfolio Manager
Research Analyst
Joined Sands Capital in 2006

Sands Capital (2008-2013)
Arlington, VA • Research Analyst

Sands Capital (2006-2008)
Arlington, VA • Research Associate

Yale University

MBA, School of Management (2009)
BA, Economics (2005)

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Andrew P. Giordano

Director, Client Relations
Joined Sands Capital in 2010

Sands Capital (2012-2014)
Arlington, VA • Manager, Client Relations

Sands Capital (2010-2012)
Arlington, VA • Wealth Management Associate

Friedman, Billings, Ramsey Capital Markets (2008-2010)
Arlington, VA • Vice President

Friedman, Billings, Ramsey Capital Markets (2006-2008)
Arlington, VA • Associate Vice President

Friedman, Billings, Ramsey Capital Markets (2004-2006)
Arlington, VA • Sales Assistant

Columbia University

MBA, Columbia Business School (2016)

London Business School

MBA, London Business School (2016)

Middlebury College

BA, International Politics and Economics (2004)

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Michael J. Clarke

Portfolio Manager
Sr. Research Analyst
Joined Sands Capital in 2011

Sands Capital (2013-2016)
Arlington, VA • Portfolio Manager, Research Analyst

Sands Capital (2011-2013)
Arlington, VA • Research Analyst

FBR Capital Markets (2007-2011)
Arlington, VA • Senior Associate

Greenberg Traurig, LLP (2003-2005)
Washington, DC • Case Law Manager

George Washington University

MBA, Finance (2007)

University of Redlands

BA, Business Administration and Biological Sciences (2002)

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Katie K. Hanley

Manager, Portfolio Analytics
Joined Sands Capital in 2004

Sands Capital (2012-2016)
Arlington, VA • Sr. Portfolio Communications Analyst

Sands Capital (2006-2011)
Arlington, VA • Sr. Client Service Specialist

Sands Capital (2004-2006)
Arlington, VA • Client Relations Associate

Clemson University

BS, Management (2003)

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Luke C. Iglehart

Executive Managing Director, Client and Consultant Relations
Joined Sands Capital in 2011

Sands Capital (2011-2015)
Arlington, VA • Director, Consultant Relations

Cambridge Associates (2006-2011)
Arlington, VA • Sr. Investment Consultant

U.S. Representative Harold Ford, Jr. (2001-2004)
Washington, DC • Sr. Legislative Assistant

University of Virginia

MBA, Darden School (2006)

Wake Forest University

BA, Political Science (2001)

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Jonathan D. Farber, CFA

Research Analyst
Joined Sands Capital in 2011

Sands Capital (2013-2014)
Arlington, VA • Sr. Research Associate

Sands Capital (2011-2013)
Arlington, VA • Research Associate

Cambridge Associates (2008-2011)
Arlington, VA • Sr. Consulting Associate

Hamilton College

BA, Economics (2008)

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Michael J. Ginder, CFA

Research Analyst
Joined Sands Capital in 2011

Sands Capital (2014-2016)
Arlington, VA • Sr. Research Associate

Sands Capital (2011-2013)
Arlington, VA • Research Associate

University of Virginia

BS, McIntire School of Commerce (2011)

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Sabrina Iqbal

Project Management Analyst
Joined Sands Capital in 2010

Sands Capital (2010-2016)
Arlington, VA • Client Relations Project Specialist

AXA Advisors (2010)
Fairfax, VA • Producer Associate

Merrill Lynch (2007-2009)
Pennington, NJ • Marketing Analyst

Bethany College

BA, Economics (2007)

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Ashraf A. Haque

Portfolio Manager
Research Analyst
Joined Sands Capital in 2008

Sands Capital (2008-2013)
Arlington, VA • Research Analyst

Chesapeake Partners (2007-2008)
Baltimore, MD • Investment Analyst

McKinsey & Company (2003-2005)
Chicago, IL • Business Analyst

GH Smart & Company (2001-2003)
Chicago, IL • Director, Business Development

Harvard University

MBA, Harvard Business School (2007)

Northwestern University

BA, Mathematical Methods in the Social Sciences and Economics (2001)

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Naru K. Ji, CFA

Client Relations Analyst
Joined Sands Capital in 2012

Cambridge Associates, LLC (2007-2012)
Arlington, VA • Sr. Research Associate

Cornell University

BA, Economics (2007)

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Jason S. Harden, CFA

Research Analyst
Joined Sands Capital in 2012

Sands Capital (2015-2016)
Arlington, VA • Sr. Research Associate

Sands Capital (2012-2014)
Arlington, VA • Research Associate

Washington & Lee University

BA, Economics and Spanish (2012)

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Wesley A. Johnston, CFA

Portfolio Manager
Sr. Research Analyst
Joined Sands Capital in 2004

Sands Capital (2009-2015)
Arlington, VA • Sr. Research Analyst

Sands Capital (2006-2008)
Arlington, VA • Research Analyst

Sands Capital (2004-2006)
Arlington, VA • Research Associate

University of Pennsylvania

BS, Economics (2002)

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Jeff D. Lockhart

Director, Client Relations
Joined Sands Capital in 2011

Sands Capital (2014-2015)
Arlington, VA • Manager, Client Relations

Sands Capital (2011-2014)
Arlington, VA • Sr. Client Service Specialist

Bentz Whaley Flessner (2010-2011)
Arlington, VA • Sr. Research Analyst

Cambridge Associates (2003-2007)
Arlington, VA • Client Services Manager, International Product

Duke University

MBA, Fuqua School of Business (2009)

Vanderbilt University

BA, Economics (2000)

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Dana M. McNamara

Executive Managing Director, Chief Administrative Officer
Joined Sands Capital in 2000

Sands Capital (2014)
Arlington, VA • Managing Director, Co-Chief Administrative Officer

Sands Capital (2000-2014)
Arlington, VA • Director, Client Services and Operations

Cardinal Wealth Services, Inc. (1999-2000)
Fairfax, VA • Registered Sales Assistant

Crestar Bank, NA (1997-1999)
Vienna, VA • Registered Sales Assistant

Crestar Bank, NA (1992-1997)
Vienna, VA • Banking Branch Manager

University of Virginia

MBA, Darden School (2014)

James Madison University

BBA, Finance (1992)

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Neil Kansari

Portfolio Manager
Research Analyst
Joined Sands Capital in 2008

Sands Capital (2008-2013)
Arlington, VA • Research Analyst

PRTM, part of PricewaterhouseCoopers LLP (2002-2006)
Waltham, MA • Associate, Sr. Business Analyst

University of Virginia (1999-2002)
Charlottesville, VA • Graduate Research Assistant, Department of Electrical Engineering

Millennium Solutions; Universal Impex (1997-1999)
Mumbai, India • Application Analyst

Mahajan & Aibara: Shah Gupta & Co. (1996-1997)
Mumbai, India • Accounting Trainee

University of Virginia

MBA, Darden School (2008)
MS, Electrical Engineering (2002)

University of Mumbai (Bombay)

BE, Electronics Engineering (1996)

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Brian X. Keegan, CFA

Research Analyst
Joined Sands Capital in 2011

Sands Capital (2014-2016)
Arlington, VA • Sr. Research Associate

Sands Capital (2011-2013)
Arlington, VA • Research Associate

Washington & Lee University

BA, Economics and Politics (2011)

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David E. Levanson, CFA

Sr. Portfolio Manager
Research Analyst
Executive Managing Director
Re-Joined Sands Capital in 2002

Sands Capital (2002-2006)
Arlington, VA • Research Analyst, Portfolio Manager

MFS Investment Management (1999-2002)
Boston, MA • Research Analyst

State Street Research & Management (1996-1999)
Boston, MA • Research Analyst, Vice President

Sands Capital (1992-1994)
Arlington, VA • Research Analyst

The Capital Management Group Folger Nolan Fleming Douglas (1990-1992)
Washington, DC • Research Analyst

University of Virginia

MBA, Darden School (1996)

University of Florida

BSBA, Finance (1990)

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Matthew W. Luneburg, CFA

Research Analyst
Joined Sands Capital in 2006

Sands Capital (2006-2009)
Arlington, VA • Research Associate

Washington & Lee University

BA, Economics (2006)

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Barron B. Martin, Jr., CFA

Research Analyst
Joined Sands Capital in 2008

Sands Capital (2011)
Arlington, VA • Sr. Research Associate

Sands Capital (2008-2010)
Arlington, VA • Research Associate

Washington & Lee University

BS, Business Administration (2008) BA, Geology (2008)

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Michael F. Raab, CFA

Sr. Research Analyst
Associate Director of Research
Joined Sands Capital in 2007

Sands Capital (2009-2016)
Arlington, VA • Research Analyst, Associate Director of Research

Sands Capital (2007-2009)
Arlington, VA • Research Associate

SNL Financial (2006-2007)
Charlottesville, VA • Analyst

University of Maryland

MBA, Robert H. Smith School of Business (2011)

University of Virginia

BA, Economics (2006)

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Kevin G. Murphy, CFA

Sr. Director, Client Relations
Joined Sands Capital in 2002

Sands Capital (2002-2015)
Arlington, VA • Director, Wealth Management Group, Portfolio Manager

Marriott International (1999-2001)
Washington, DC • Sr. Manager, Business Strategy/ Business Analysis

Advisory Board Company (1996-1997)
Washington, DC • Marketing Associate

Dole/Kemp '96 (1995-1997)
Washington, DC • Sr. Budget Manager

Bush/Quayle '92 (1991-1993)
Washington, DC • Compliance Analyst

Georgetown University

MBA, McDonough School of Business (1999)

The Colorado College

BA, Political Science (1991)

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Stephen F. Nimmo

Executive Managing Director, Business Development and Client Relations
Joined Sands Capital in 2010

Sands Capital (2010-2013)
Arlington, VA • Head of Business Development, Director, Client Relations

Martin Currie Inc. (2008-2010)
New York, NY • Sr. Client Director

Gartmore Investment Management (1997-2008)
London, UK • European Sales Director

The WM Company (1996-1997)
Edinburgh, UK • European Sales Director

The Sedgewick Group Ltd. (1991-1996)
Edinburgh, UK • Client Director

Durham University

BA, Economics and History (1991)

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Katherine B. Okon

Manager, Client Relations
Re-Joined Sands Capital in 2012

Sands Capital (2012-2014)
Arlington, VA • Portfolio Communications Analyst

Sands Capital (2007-2010)
Arlington, VA • Assistant to the CEO

University of Virginia

MBA, Darden School (2012)

Lafayette College

BA, Government and Law (2007)

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Kathryn T. Bickley

Portfolio Implementation Manager
Joined Sands Capital in 2010

Sands Capital (2012-2014)
Arlington, VA • Sr. Portfolio Implementation Specialist

Sands Capital (2010-2012)
Arlington, VA • Portfolio Implementation Specialist

U.S. Trust, Bank of America Private Wealth Management (2006-2010)
Los Angeles, CA • Assistant Vice President, Portfolio Manager Associate

Cambridge Associates (2005-2006)
Arlington, VA • Investment Performance Associate

Washington & Lee University

BS, Business Administration (2005)

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Frank M. Sands, CFA

Chief Investment Officer
Chief Executive Officer
Joined Sands Capital in 2000

Sands Capital (2004-2008)
Arlington, VA • President, Director of Research

Sands Capital (2000-2004)
Arlington, VA • Managing Director, Director of Research, Sr. Portfolio Manager

Fayez Sarofim & Co. (1994-2000)
Houston, TX • Research Analyst, Portfolio Manager, Principal

Walker & Dunlop (1989-1991)
Washington, DC • Commercial Real Estate Leasing and Sales

University of Virginia

MBA, Darden School (1994)

Johns Hopkins University

MS, Real Estate Finance &
Development (1993)

Washington & Lee University

BA, Economics (1989)

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Samantha L. Toler

Sr. Director, Client Relations and Business Development
Joined Sands Capital in 2006

Sands Capital (2006-2015)
Arlington, VA • Director, Client Relations

Goldman Sachs, & Co. (2000-2006)
New York, NY • Vice President

SCA Consulting (1995-1998)
New York, NY • Consultant

Neuberger Berman (1994-1995)
New York, NY • Portfolio Assistant

New York University

MBA, Stern School of Business (2000)

Brown University

BA, American Civilization Studies (1994)

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Frank M. Sands, Sr., CFA

Chairman
Founder
Founded Sands Capital in 1992

Sands Capital (1992-2008)
Arlington, VA • Chief Executive Officer, Chief Investment Officer, Sr. Portfolio Manager

The Capital Management Group, Folger Nolan Fleming Douglas, Inc. (1986-1992)
Washington, DC • Chief Investment Officer

Eppler, Guerin & Turner, Inc. (1983-1986)
Dallas, TX • Director of Research, Member of Board of Directors

David L. Babson & Company, Inc. (1972-1983)
Boston, MA • Director of Research, Member of Board of Directors

Loomis, Sayles & Company (1969-1972)
Boston, MA • Research Analyst

University of Virginia

MBA, Darden School (1963)

Dickinson College

BA, Economics (1960)

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A. Michael Sramek, CFA

Sr. Portfolio Manager
Research Analyst
Managing Director
Joined Sands Capital in 2001

Sands Capital (2001-2007)
Arlington, VA • Research Analyst, Portfolio Manager

Mastrapasqua & Associates (2000)
Nashville, TN • Research Analyst

BARRA/RogersCasey (1995-1998)
Darien, CT • Associate, Plan Sponsor Services

Vanderbilt University

MBA, Owen Graduate School of Management (2000)

Princeton University

AB, History (1995)

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Sunil H. Thakor, CFA

Sr. Portfolio Manager
Research Analyst
Executive Managing Director
Joined Sands Capital in 2004

Sands Capital (2007-2008)
Arlington, VA • Research Analyst, Portfolio Manager

Sands Capital (2005-2007)
Arlington, VA • Research Analyst

Sands Capital (2004)
Arlington, VA • Research Intern

Charles River Associates, Inc. (1999-2004)
Los Angeles, CA, & Boston, MA • Associate & Analyst

Columbia University

MBA, Columbia Business School (2006)

Colby College

BA, Economics and Mathematics (1999)

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Thomas H. Trentman, CFA

Portfolio Manager
Sr. Research Analyst
Joined Sands Capital in 2005

Sands Capital (2011-2016)
Arlington, VA • Portfolio Manager, Research Analyst

Sands Capital (2008-2010)
Arlington, VA • Research Analyst

Sands Capital (2005-2008)
Arlington, VA • Research Associate

Washington & Lee University

BS, Physics-Engineering (2005)
BA, Chemistry (2005)

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T. Perry Williams, CFA

President
Director of Research
Joined Sands Capital in 2004

Sands Capital (2010-2015)
Arlington, VA • Sr. Portfolio Manager, Research Analyst

Sands Capital (2006-2009)
Arlington, VA • Research Analyst, Portfolio Manager

Sands Capital (2004-2006)
Arlington, VA • Director, Client Relations & Business Development

Mercer Investment Consulting. (1995-2004)
Atlanta, GA • Consultant, Principal

Northwestern University

MM, Kellogg Graduate School of Management (1999)

University of Virginia

BS, McIntire School of Commerce (1994)

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Dennis E. Adams, Jr.

Managing Director, Trading
Joined Sands Capital in 2004

Sands Capital (2004-2013)
Arlington, VA • Head Trader

ETG Trading LLC (2003-2004)
Atlanta, GA • Equity Trader

SMW Trading Company (2002-2003)
Chicago, IL • Assistant Options Trader

United States Military Academy

BS, West Point (2000)

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Brian R. Arena

Sr. Reconciliation Administrator
Joined Sands Capital in 2007

Sands Capital (2007-2013)
Arlington, VA • Reconciliation Administrator

Wachovia Corporation (2006-2007)
Charlotte, NC • Account Reconciliations Group-Structured Products Division

University of Notre Dame

BA, Program of Liberal Studies (2004)

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Emily Freije

Assistant to the CEO
Joined Sands Capital in 2010

James Madison University

BS, Social Sciences, Early Childhood Education (1997)

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Mariama S. Bah

Sr. Reconciliation Administrator
Joined Sands Capital in 2012

Brown Advisory (2011-2012)
Baltimore MD • Senior Operations Associate

JPMorgan Chase (2010-2011)
Jersey City, NJ • Performance Analysis

Fortigent (2007-2009)
Rockville, MD • Senior Analyst

Barclays Capital (2004-2006)
New York, NY • Static Data Analyst

University of Maryland, College Park

BS, Finance (1999)

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Gina Toussaint

Sr. Accountant
Joined Sands Capital in 2007

Sands Capital (2012-2016)
Arlington, VA • Staff Accountant

Sands Capital (2007-2011)
Arlington, VA • Accounting Assistant

Sandy Spring Bank (2007)
Olney, MD • Assistant VP for Vendor and Purchasing

Cedars Medical Center (2005-2007)
Miami, FL • Assistant Director for Ethics and Compliance

Indiana University - Bloomington

MS, Public Finance Administration (2005)

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Lena E. Ballard

Reconciliation Administrator/
Trade Support
Joined Sands Capital in 2012

ASB Capital Management (1991-2009)
Bethesda, MD • Accounts Service Officer

Kaplan University

BS, Accounting (2014)

Kaplan University

Associate Degree (2010)

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Kristin N. Sizemore, SPHR

Director, Head of Human Resources
Joined Sands Capital in 2010

Sands Capital (2010-2015)
Arlington, VA • Director, Human Resources

Folio Investing (2007-2010)
McLean, VA • Director of Human Resources

Information Management Consultants, Inc. (2000-2007)
Reston, VA • Human Resources Supervisor

The George Washington University

MS, Organizational Management (2005)

George Mason University

BA, Sociology and English (1998)

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Ryan E. Bateman

Director, Technology
Joined Sands Capital in 2011

Ipreo (2008-2010)
New York, NY • Director of Sales and Trading Applications

FBR Capital Markets (2004-2008)
Arlington, VA • Director of Equity Capital Markets Technology

FBR International (2001-2004)
London, England • IT Manager, European Region

Friedman Billings Ramsey (1999-2001)
Arlington, VA • Network Engineer

Georgetown University

MBA, International Business, McDonough School of Business (2008)

Northwestern University

BA, English Studies (1998)

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Jessica L. Bowers

Billing and Financial Analyst
Joined Sands Capital in 2005

Sands Capital (2005-2015)
Arlington, VA • Billing Specialist

American Media Services (2002-2005)
Bethesda, MD • Media Coordinator

University of Maryland

Accounting Certificate (2007)

Penn State University

BS, Business-Marketing (2002)

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Patricia D. Rodriguez

Reconciliation Administration Supervisor
Joined Sands Capital in 1999

Sands Capital (2004-2008)
Arlington, VA • Sr. Reconciliation Administrator

Sands Capital (2003-2004)
Arlington, VA • Trade Settlement Specialist

Sands Capital (1999-2003)
Arlington, VA • Account Administrator

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Eric C. Perlish

Head of Global Trading
Joined Sands Capital in 2010

Sands Capital (2010-2014)
Arlington, VA • Sr. Trader

Ironbound Capital (2004-2010)
Princeton, NJ • Head Trader

Cisco Systems (2004)
Malvern, PA • Project Analyst

Merrill Lynch Investment Managers (1998-2003)
Plainsboro, NJ • Assistant Vice President

Rider University

BBA, Actuarial Science and Finance (1997)

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Mark J. Muldoon, CFA

Trading Analyst
Joined Sands Capital in 2012

Sands Capital (2012-2015)
Arlington, VA • Sr. Global Administrator

Bank of New York Mellon (2010-2012)
New York, NY • Product Derivatives Analyst

SS&C Technologies (2006-2010)
Windsor, CT • Derivatives Analyst

Central Connecticut State University

BS, Finance (2006)

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Matthew J. Mickelson

Global Accounts Supervisor
Joined Sands Capital in 2009

Sands Capital (2010-2012)
Arlington, VA • Sr. Global Portfolio Accountant

Sands Capital (2009-2010)
Arlington, VA • Sr. Portfolio Accountant

SS&C Technologies (2007-2009)
Hartford, CT • Hedge Fund Accounting Manager

GlobeOp Financial Services (2006-2007)
Hartford, CT • Sr. Associate

SS&C Technologies (2005-2006)
Hartford, CT • Sr. Supervising Hedge Fund Account

SEI Investments (2003-2005)
Oaks, PA • Hedge Fund Accountant

Marquette University

BS, Economics (2001)

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Christopher A. Colunga

Sr. Compliance Analyst
Joined Sands Capital in 2011

Sands Capital (2014-2016)
Arlington, VA • Compliance Analyst

Sands Capital (2011-2013)
Arlington, VA • Sr. Compliance Associate

Hillman Capital Management, LLC (2010-2011)
Bethesda, MD • Associate—Operations and Trading

AllianceBernstein L.P. (2006-2010)
San Antonio, TX • Sr. Investment Analyst

Texas A&M University

BS, Economics (2004)

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Melissa I. Mennella

Portfolio Administration Supervisor
Joined Sands Capital in 2000

Sands Capital (2000-2008)
Arlington, VA • Sr. New Accounts Administrator

Jennison Associates (1997-2000)
New York, NY • Assistant Supervisor

Furman Selz Asset Management (1996-1997)
New York, NY • Sr. Mutual Fund Accountant

Merrill Lynch Asset Management (1993-1995)
Plainsboro, NY • Sr. Mutual Fund Accountant

University of South Florida

BA, Finance

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Beth A. McSorley

Director, Controller
Joined Sands Capital in 2010

Sands Capital (2010-2015)
Arlington, VA • Controller

PricewaterhouseCoopers LLP (2004-2010)
McLean, VA • Sr. Associate

The University of Alabama

Masters of Accounting and Operations Management (2003)
BS, Accounting (2000)

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Ricardo J. Lopez

Investment Operations Sr. Business Analyst
Joined Sands Capital in 2012

Sands Capital (2012-2016)
Arlington, VA • Sr. Portfolio Administrator

Geller & Company LLC (2007-2012)
New York, NY • Manager of Investment Reporting

Fortigent LLC (2005-2007)
Rockville, MD • Sr. Portfolio Accounting Analyst

University of Maryland – College Park

BA, Economics (2004)

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Kevin V. Kirk

Sr. Compliance Analyst
Joined Sands Capital in 2011

Capital Financial Group/ H. Beck, Inc. (2007-2011)
Rockville, MD • Compliance Supervisor-Surveillance

Scottrade (2004-2007)
Vienna, VA • Sr. Stockbroker

University of Phoenix

BS, Finance (2006)

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Michael C. Conroy

Sr. Trader
Joined Sands Capital in 2002

RBC, Dain Rauscher (2001-2002)
Washington, DC • Operations Manager

Finance Consultancy (1999-2001)
Washington, DC; New York, NY • Consultant

Continental Grain Company (1983-1999)
New York, NY • Foreign Exchange Trader

Bernard M. Baruch College

BBA, Economics (1996)

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Jeremiah J. Kayal

Trader
Joined Sands Capital in 2012

Sands Capital (2012-2014)
Arlington, VA • Jr. Trader

Georgetown University

BSBA, Finance, McDonough School of Business (2012)

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Laura J. Dickerson

Office Manager
Joined Sands Capital in 2007

Sands Capital (2007-2011)
Arlington, VA • Administrative Assistant

Hurd I/T (2006-2007)
McLean, VA • Executive Assistant

Mica (2003-2006)
Fairfax, VA • Title/Settlement Officer

University of North Carolina – Chapel Hill

Journalism and Mass Communication (2003)

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Semone N. Fraser

Sr. Investment Operations Analyst
Joined Sands Capital in 2008

Sands Capital (2013-2015)
Arlington, VA • Global Administrator

Sands Capital (2008-2012)
Arlington, VA • Global Reconciliation Administrator

Hughes Capital Management (2007-2008)
Alexandria, VA • Portfolio Administrator

Barclays Capital (1997-2006)
New York, NY • Fixed Income Sales Assistant

University of Phoenix

BS, Business Administration, Finance (2014)

University of Phoenix

Associates Business Management, Finance (2011)

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Philip C. Hacker

Technology Administrator
Joined Sands Capital in 2012

Sands Capital (2012-2015)
Arlington, VA • Office Administrator

University of Nevada

BA, Political Science (2011)

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Jonathan P. Goodman

General Counsel
Joined Sands Capital in 2012

Sands Capital (2012-2013)
Arlington, VA • Legal Counsel

Gibson, Dunn and Crutcher LLP (2007-2012)
Washington, DC • Attorney

Cravath, Swaine and Moore LLP (2003-2006)
New York, NY and London, England • Attorney

Georgetown University Law Center

Juris Doctor (2003)

University of Wisconsin-Madison

BA, Political Science and Japanese (1997)

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Lisa M. Grozio

Chief Compliance Officer
Joined Sands Capital in 2005

Sands Capital (2005-2014)
Arlington, VA • Director, Compliance

Morgan Stanley Alternative Investment Partners (2004-2005)
West Conshohocken, PA • Sr. Associate

1838 Investment Advisors, LLC (1999-2004)
King of Prussia, PA • Institutional Portfolio Accounting Officer and Manager

PFPC, Inc. (1993-1999)
Wilmington, DE • Investment Accountant and Manager

Rowan University

BS, Business Administration (1992)

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Eric C. Black

Sr. Research Associate
Joined Sands Capital in 2013

Sands Capital (2013-2014)
Arlington, VA • Research Associate

World Justice Project (2012)
Washington, DC • Research Assistant, Rule of Law Index

Wikistrat (2012)
Washington, DC • Research Assistant

Georgetown University

BA, Political Economy and Russian (2011)

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Jennifer A. Greene, CFA

Research Analyst
Joined Sands Capital in 2013

Sands Capital (2013-2014)
Arlington, VA • Sr. Research Associate

Credit Suisse Securities Private Fund Group (2007-2011)
New York, NY • Associate

John Hopkins University

Pre-Medical Post-Baccalaureate Program (2012)

University of Virginia

BS, McIntire School of Commerce and Philosophy (2007)

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Lauren E. Perry

Executive Assistant
Joined Sands Capital in 2013

U.S. House of Representatives (2009-2012)
Washington, DC • Executive Assistant/Office Manager

Former Congressman Bart Gordon (2008-2009)
Murfreesboro, TN • Deputy Campaign Manager

Middle Tennessee State University

BS, Journalism (2008)

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Kristen N. Ketchum

Executive Assistant
Joined Sands Capital in 2013

Deltek, Inc. (2007-2012)
Hernedon, VA • Executive Assistant

Vornado/Charles E. Smith (2004-2007)
Washington, DC • Administration Operations Manager

JP Morgan Chase Bank (2003-2004)
Washington, DC • Administrative Assistant

CB Richard Ellis (1996-2002)
Washington, DC • Office Manager

University of Maryland, College Park

BA, Graphic Design (1996)

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Christina D. Clark

Sr. Research Associate
Joined Sands Capital in 2013

Sands Capital (2013-2015)
Arlington, VA • Research Associate

Sands Capital (2012)
Arlington, VA • Research Intern

Princeton University

BS, Engineering, Operations Research and Financial Engineering (2013)

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Jennifer F. Black

Client Relations Analyst
Joined Sands Capital in 2013

Sands Capital (2013-2014)
Arlington, VA • Associate Client Service Specialist

GW&K Investment Management (2010-2013)
Boston, MA • Marketing Analyst

University of Richmond

BSBA, Management (2010)

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Jacqueline T. Frederick-Maturo

Executive Assistant
Joined Sands Capital in 2013

Ms. Amy Rifkind (2011-2013)
Washington, D.C. • Personal Assistant

Embassy of Sri Lanka (2011)
Washington, D.C. • Senior Executive Assistant

U.S. House of Representatives (2010-2011)
Washington, D.C. • Staff Assistant

American University

BA, Political Science (2010)

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Silvio Minuto

Sr. Reconciliation Administrator and Trade Support Specialist
Joined Sands Capital in 2013

First Republic Investment Management (2008-2012)
New York, NY • Operations/Trading Associate

Byram Capital Management LLC (2005-2008)
Greenwich, CT • Portfolio Administrator

Paratus Partners LLC (2004)
Stamford, CT • Trading/Research Associate

Globe Op Financial Services (2002-2004)
Harrison, NY • Documentation Analyst

JSK Associates Inc. (1998-2002)
White Plains, NY • Administrative Assistant/Compliance Trainee

Iona College

BBA, Business Management (2001)

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Noran Eid

Research Analyst
Joined Sands Capital in 2013

Sands Capital (2013-2014)
Arlington, VA • Sr. Research Associate

MSCI Inc. (2010-2011)
New York, NY • Senior Associate

RiskMetrics Group (2006-2010)
New York, NY • Industrials Team Lead

University of Pennsylvania

MBA, Finance, The Wharton School of Business (2013)

The American University in Cairo

BS, Engineering (2005)

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Andres R. Lazaris

Sr. Portfolio Implementation Associate
Joined Sands Capital in 2013

Sands Capital (2013-2016)
Arlington, VA • Portfolio Implementation Associate

Cisco Systems (2012-2013)
Raleigh, NC • Financial Analyst

University of North Carolina – Chapel Hill

BA, Economics (2012)

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Daniel H. Cheng

Research Analyst
Joined Sands Capital In 2013

Stifel Equity Research (2011-2013)
New York, NY • Senior Associate

Johnson & Johnson/Centocor (2009-2011)
Horsham, PA • Financial Analyst

Analysis Group, Inc. (2004-2007)
Los Angeles, CA • Economic Consultant

Non-Profit Outreach (2002-2004)
Anaheim, CA • Project Coordinator

University of Pennsylvania

MBA, Finance, The Wharton School of Business (2009)

University of California, Berkeley

BS, Business Administration, Haas School (2002)

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Danielle J. Menichella, CFA

Research Analyst
Joined Sands Capital in 2013

Ashmore Equity Investment Management (2010-2013)
Arlington, VA • Senior Analyst

Emerging Markets Management (1997-2010)
Arlington, VA • Analyst

Duke University

AB, Economics and Public Policy (1997)

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Amanda E. Roberts

Client Relations Coordinator
Joined Sands Capital in 2014

Capital Group Companies (2011-2013)
Washington, DC • Investment Group Research Assistant

Penzance (2010-2011)
Washington, DC • Executive Assistant

University of California, Davis

BA, Economics (2009)

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Corey J. Breen

Communications Specialist
Joined Sands Capital in 2014

DC Entertainment (2000-2013)
New York, NY • Sr. Pre-Press Artist

Syracuse University

BFA, Illustration, The College of Visual and Performing Arts (2000)

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Thomas A. Rogers

Sr. Research Associate
Joined Sands Capital in 2014

Sands Capital (2014-2016)
Arlington, VA • Research Associate

Strategic Investment Group (2013-2014)
Arlington, VA • Investment Analyst

University of Virginia

MS, McIntire School of Commerce (2013)

College of William & Mary

BA, Economics (2012)

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Annie K. McCormick

Client Relations Analyst
Joined Sands Capital in 2014

Cambridge Associates, LLC (2008-2014)
Arlington, VA • Team Lead/Investment Performance Analyst

Pennsylvania State University

BS, Finance (2008)

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Teeja Boye, CFA

Research Analyst
Joined Sands Capital in 2014

Sands Capital (2014)
Arlington, VA • Research Intern

Insparo Asset Management (2008-2013)
London, UK • Investment Analyst

UBS (2006-2008)
London, UK • Associate Analyst

London School of Economics

BSc, Economics and Economic History (2006)

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David W. Williams

Sr. Research Associate
Joined Sands Capital in 2014

Sands Capital (2014-2016)
Arlington, VA • Research Associate

Washington & Lee University

BS, Business Administration (2014)

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Anna A. Amaczi, IACCP®

Supervisor, Regulatory Reporting, Sr. Compliance Analyst
Joined Sands Capital in 2014

Sands Capital (2014-2015)
Arlington, VA • Sr. Compliance Analyst

Homestead Funds, Inc. (2008-2014)
Arlington, VA • SEC Compliance Advisor

Dechert LLP (2006-2008)
Washington, D.C. • EDGAR Specialist

Elias, Matz, Tiernan & Herrick L.L.P. (1997-2005)
Washington, D.C. • Paralegal

University of Maryland University College

MBA (2016)

George Mason University

BA, Government and Politics (1996)

Eotvos Lorand University Faculty of Law

(1991)

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Lynda A. Wright

Compliance Supervisor
Joined Sands Capital in 2014

T. Rowe Price (2008-2014)
Baltimore, MD • Compliance Manager

T. Rowe Price (2000-2008)
Baltimore, MD • Senior Product Manager

T. Rowe Price (1997-2000)
Baltimore, MD • Production Manager

College of Notre Dame of Maryland

BS, Business Management (2007)

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Jacob S. Miller

Sr. Financial Analyst
Joined Sands Capital in 2014

Sands Capital (2014-2016)
Arlington, VA • Financial Analyst

General Services Administration (2011-2014)
Washington, DC • Financial Analyst

Bucknell University

BA, Economics and Political Science (2011)

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Brian J. Crofton

Planning and Analytics Associate
Joined Sands Capital 2014

Colgate University

BA, Mathematical Economics (2014)

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Jessica B. Albert

Executive Assistant
Joined Sands Capital in 2014

TRAK Records and Library (2012-2014)
Washington, D.C. • Administrative Assistant

George Mason University

BA, History (2011)

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Maria R. Billups

Reconciliation and Portfolio Administrator
Joined Sands Capital in 2014

Marsico Capital Management, LLC (2004-2014)
Denver, CO • Trade Operations Specialist

Founders Asset Management (2001-2004)
Denver, CO • Settlements Administrator

First Trust Corporation (1999-2001)
Denver, CO • Datalynx Trader

Community College of Denver

AAS, Computer Information Systems (2000)

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Mindy Y. Wan, CFA

Research Associate
Joined Sands Capital in 2015

BlackRock (2013-2014)
New York, NY • Corporate Finance Strategy Analyst

Houlihan Lokey (2011-2012)
Los Angeles, CA • Analyst

Massachusetts Institute of Technology

Masters in Finance, Sloan School of Management (2013)

University of Southern California

BS, Business Administration, Marshall School of Business and Accounting, Leventhal School of Accounting (2011)

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Jonathan D. Boyer

Legal Counsel
Joined Sands Capital in 2015

Ropes & Gray LLP (2011-2014)
New York, NY • Associate

Latin American Institute of Social Sciences (FLACSO) (2010-2011)
Santo Domingo, Domincan Republic • Legal Adviser

Columbia Law School

Juris Doctor (2010)

James Madison University

MA, EdS (2007)

Villanova University

BA, Psychology (2004)

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Judy D. Jiao, CFA

Sr. Research Associate
Joined Sands Capital in 2015

Sands Capital (2015-2016)
Arlington, VA • Research Associate

RLJ Lodging Trust (2013-2015)
Bethesda, MD • Associate

Macquarie Capital (2011-2013)
New York, NY • Analyst

Middlebury College

BA, Economics and Mathematics (2011)

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Nikki Hartzoulakis

Executive Assistant
Joined Sands Capital in 2015

Lincoln Center for the Performing Arts (2013-2015)
New York, NY • Executive Assistant to the Executive Director, LCDP

SunGard (2012-2013)
New York, NY • Recruiting Coordinator

SunGard (2006-2012)
New York, NY • Administrative Assistant

Borough of Manhattan Community College

AS, Business Management (2005)

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Festus M. Cassels

Compliance Assistant
Joined Sands Capital in 2015

The Honorable Dana Rohrabacher (CA-48) (2006-2015)
Washington, DC • Executive Assistant/Scheduler

United States House of Representatives, Committee on Transportation and Infrastructure (2001-2006)
Washington, DC • Legislative Staff Assistant

The Honorable Charles T. Canady (FL-12) (2000-2001)
Washington, DC • Staff Assistant

Virginia Polytechnic and State University

BA, English (2000)

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Pamela L. Gendell

Sr. Compliance Analyst
Joined Sands Capital in 2015

T. Rowe Price Associates (2004-2015)
Baltimore, MD • Compliance Consultant

Deutsche Asset Management (2000-2004)
Baltimore, MD • Compliance Officer, Assistant Vice President

T. Rowe Price (1994-1999)
Washington, DC • Branch Manager

University of Maryland

BA, Economics (1991)

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Job Taylor, PhD

Research Analyst
Joined Sands Capital in 2015

Sands Capital (2015)
Arlington, VA • Research Consultant

Veda Healthcare Partners (2011-2014)
Chevy Chase, MD • Partner

Oppenheimer and Company (2008-2011)
New York, NY • Director

FBR Capital Markets (2006-2008)
Arlington, VA • Senior Associate

University of Virginia (2004-2005)
Charlottesville, VA • Postdoctoral Fellow

University of Virginia

PhD, Biology (2003)

College of William and Mary

BS, Biology (1994)

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Corinne B. deVito

Executive Assistant
Joined Sands Capital in 2015

U.S. Senate (2011-2015)
Washington, DC • Executive Assistant/Scheduler

U.S. House of Representatives (2010-2011)
Washington, DC • Executive Assistant/Scheduler

University of Illinois, Urbana-Champaign

BS, Advertising (2009)

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Kellie M. Lavey

Receptionist
Joined Sands Capital in 2015

GlobalLogic, Inc. (2014-2015)
McLean, VA • Office Manager/Administrative Support

Transportation Security Administration (2012-2014)
Sterling, VA • Transportation Security Officer

United Airlines (1990-2005)
Dulles, VA • Flight Attendant

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Susan H. Saunders

Sr. Human Resources Generalist
Joined Sands Capital in 2015

GridPoint, Inc. (2008-2015)
Arlington, VA • Human Resources Generalist

Family Advocacy Services (2007-2008)
Newington, VA • Clinical Therapist

For Children's Sake (2005-2007)
Chantilly, VA • Case Manager

Virginia Commonwealth University

MSW, Clinical Concentration (2005)

University of Colorado, Boulder

BA, Psychology (1999)

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Alexander M. TenHoeve

Client Relations Associate
Joined Sands Capital in 2015

PricewaterhouseCoopers, LLC (2014-2015)
McLean, VA • Senior Associate

PricewaterhouseCoopers, LLC (2012-2014)
McLean, VA • Associate

College of Charleston

MS, Accountancy (2012)
BS, Accounting (2011)

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Jamere A. Bailey

Office Administrator
Joined Sands Capital in 2015

OST/FEMA (2015)
Washington, DC • Project Coordinator

Williams Lea (2015)
Washington, DC • Office Service Associate/Facilities Coordinator

Parsons Corporation (2013-2014)
Washington, DC • Facilities Coordinator

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Josephine A. Lewis

Director, Client Relations
Joined Sands Capital in 2016

Harding Loevner (2005-2015)
Bridgewater, NJ • Portfolio Manager/Analyst

Piti/Suksa Chiang Rai Montessori (2003-2004)
Chiang Rai, Thailand • Teacher

Cambridge Associates (1999-2003)
Arlington, VA • Senior Consulting Associate

ICQ/American Online (1998)
Tel Aviv, Israel • Business Associate

University of Maryland

MBA, Finance, Robert H. Smith School of Business (2006)

Tulane University

BSM, Finance, A.B. Freeman School of Business (1997)

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Matthew B. Alsted

Director, Portfolio Analysis and Communications
Joined Sands Capital in 2016

Calvert Investments (2004-2015)
Bethesda, MD • Vice President

Riggs Bank (2002-2004)
Washington, DC • Vice President

T. Rowe Price (1996-2002)
Baltimore, MD • Assistant Vice President

BayBanks, NA (1994-1996)
Waltham, MA • Product Development Officer

Babson College

BS, Marketing, International Business (1993)

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Karen E. Hsu

Associate Portfolio Data Analyst
Joined Sands Capital in 2016

T. Rowe Price (2013-2015)
Baltimore, MD • Business Analyst

Ashmore Equity Investment Management (2012-2013)
Arlington, VA • Research Associate

University of Maryland

BA, Economics (2011)

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Emily H. Ciccarello, SHRM-CP

Human Resources Generalist
Joined Sands Capital in 2016

Wafra Investment Advisory Group, Inc. (2014-2016)
New York, NY • Human Resources Coordinator

BDO USA, LLP (2014)
New York, NY • Human Resources Assistant

Marist College

BA, Psychology (2013)

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Ray Han

Compliance Analyst
Joined Sands Capital 2016

FINRA (2014-2016)
Washington, DC • Compliance Specialist

LPL Financial/Fortigent, LLC (2013-2014)
Rockville, MD • Operations Analyst

Johns Hopkins University

MS, Finance (2013)

University of Maryland College Park

BS, Agricultural Economics (2011)

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Cary W. Carabasi

Research Associate
Joined Sands Capital in 2016

Washington & Lee University

BS, Accounting and Business Administration (2016)

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Arthur B. Olson

Research Associate
Joined Sands Capital in 2016

Washington & Lee University

BS, Accounting and Business Administration (2016)

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Daniel R. Connolly, ACA

Sr. Accounting Systems and Financial Reporting Analyst
Joined Sands Capital in 2016

CrossCountry Consulting (2013-2016)
McLean, VA • Senior Consultant

Deloitte (2009-2013)
Dublin, Ireland • Audit Senior

University College Dublin

BComm, Accounting (2009)

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Shou-Wei Fan

Director, Investment Operations
Joined Sands Capital in 2016

Brown Brother's Harriman (2008-2016)
New York NY • Vice President, Investment Management Services

Deutsche Asset Management (2005-2008)
New York, NY • Assistant Vice President, Corporate Action Manager

State Street Ireland (2003-2004)
Kilkenny, Ireland • Integration Coordinator

State Street Corporation (2002-2003)
Boston, MA • Account Manager

State Street Luxembourg (2000-2002)
Luxembourg City, Luxembourg • Fund Admin Account Manager

State Street Corporation (1997-2000)
Boston, MA • Fund Accountant

Boston University

BS, Business Administration (1997)

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Isabelle C. Kayal

Client Relations Associate
Joined Sands Capital in 2016

J.P. Morgan Private Bank (2014-2016)
New York, NY • Analyst

Pennsylvania State University

BS, Finance and Spanish (2014)

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Jack A. Mayer

Communications Analyst
Joined Sands Capital in 2016

Morgan Stanley Wealth Management (2014-2016)
New York, NY • Vice President

J.P. Morgan Asset Management (2012-2014)
New York, NY • Associate

J.P. Morgan Private Bank (2009-2012)
New York, NY • Analyst

College of William & Mary

BA, Economics (2009)

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Matthew R. Brezovec

Manager, Trading and Account Operations Technology
Joined Sands Capital in 2016

FBR Capital Markets (2011-2016)
Arlington, VA • V.P. - Co-head Equity Trading Technology

FBR Capital Markets (2008-2011)
Arlington, VA • Director - Trading Technologies

FBR Capital Markets (2005-2008)
Arlington, VA • Business Systems Analyst

Deutsche Bank (2005)
New York, NY • Trader

Deutsche Bank (1999-2005)
New York, NY • Junior Trader

Deutsche Bank (1997-1999)
Baltimore, MD • Institutional Sales Clerk

United States Marine Corp (1995-1997)
Jacksonville, NC • Infantry

Norwalk Technical College

AS, Business Administration (2005)

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Caroline M. Campbell

Executive Assistant
Joined Sands Capital in 2016

The Reis Group (2014-2016)
Washington, DC • Account Coordinator

American Psychiatric Association (2013-2014)
Washington, DC • Executive Assistant

Coton Colors (2012-2013)
Tallahassee, FL • Sales Representative

Goodwood Museum and Gardens (2011)
Tallahassee, FL • Membership and Development

University of Alabama

BS, Hospitality Management (2011)

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Krystal N. Daibes

Communications Analyst
Joined Sands Capital in 2016

Mazama Capital Management (2014-2016)
Portland, OR • Portfolio Analyst

Mazama Capital Management (2013-2014)
Portland, OR • Research Analyst

Mazama Capital Management (2010-2013)
Portland, OR • Research Associate

University of Oregon

MBA, Financial Securities Analysis (2010)

Oregon Institute of Technology

BS, Marketing and Small Business Management (2007)

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