Ben T. Morris (President and Chief Executive Officer) – Mr. Morris heads the Investment Banking Group and also oversees the firm’s administrative and operational functions. He is a director of several client companies. Mr. Morris served as Chief Operating Officer of Tatham Corporation from 1980 until 1984 and as an independent consultant until SMH was founded in 1987. Prior thereto, he was employed by Mid American Oil Company from 1973 until 1980, serving as Chief Financial Officer until 1979 and as President in 1979 and 1980. Mr. Morris has a B.B.A. from the University of North Texas.

G. Clyde Buck (Senior Vice President and Managing Director) – Mr. Buck has been active in investment banking for over thirty years. Mr. Buck was a Managing Director of Harris Webb & Garrison for two years prior to its merger to form SMH. For fifteen years prior to 1998, Mr. Buck was a Managing Director of Rauscher Pierce Refsnes in Houston. Earlier, Mr. Buck served as First Vice President and Houston Corporate Finance Manager for Smith Barney, Harris Upham & Co. Previous to that he worked at Rotan Mosle, where he was Corporate Finance Manager, Director and a member of the firm’s Executive Committee, and at M.I.S., where he was Chairman of the Board and Chief Executive Officer. He is currently a Director of Smith International, a Houston-based oilfield service and equipment company, and Frontier Oil Corporation, an owner and operator of refineries in Wyoming and Kansas. Mr. Buck received a B.A. (cum laude) from Williams College and an M.B.A. from Harvard Business School. He has authored several published articles.

Michael S. Chadwick (Senior Vice President and Managing Director) – Mr. Chadwick has been active in the commercial banking and investment banking fields since 1975. Prior to joining SMH in 1994, Mr. Chadwick was President and Principal of Chadwick, Chambers & Associates, which he co-founded in 1988. Prior to forming CC&A, Mr. Chadwick was a Vice President in the corporate finance departments of two regional investment banking firms in Houston that are today part of Everen Securities (Lovett Mitchell Webb & Garrison, and Underwood, Neuhaus & Co.). Mr. Chadwick holds an M.B.A. from Southern Methodist University (1975) and a B.A. in Economics from the University of Texas at Austin (1974). Mr. Chadwick also attended the Wharton School of Finance at the University of Pennsylvania (1970-1972).

Charles L. Davis (Senior Vice President and Managing Director) – Mr. Davis heads the SMH Technology Group. Mr. Davis serves as a director, and/or board observer for several companies including Lombardi Software, Inc., an eBusiness process integration solution provider; Baseball Express, Inc., a catalogue retailer of sporting goods; Wayport, Inc., a wireless Internet access provider; and RigNet, Inc., a voice and data solution provider to the offshore oil drilling industry. Mr. Davis is a graduate of Washington & Lee University and is a Certified Public Accountant in the Commonwealth of Virginia.

James C. Gale (Managing Director) – Mr. Gale joined SMH to serve as the manager of the firm’s Corporate Opportunities Funds. He is also involved in the firm’s investment banking activities. During the previous seven years, Mr. Gale was head of investment banking for Gruntal & Co., a large brokerage and investment banking company. In this company, he established corporate finance groups specializing in health care, media/communications and technology. Prior to joining Gruntal, he originated and managed private equity investments for the Home Insurance Co., Gruntal’s parent company. Earlier in his career, Mr. Gale was a Senior Investment Banker at E. F. Hutton & Co. and Adams Cohen Securities, an investment banking firm specializing in the savings and loan industry. Mr. Gale received an M.B.A. from the University of Chicago and serves on the Board of Directors of Latshaw Enterprises, Relm Wireless Corporation, Premier Research Worldwide and Amarin Corporation.

James J. Jacobs (Analyst) – joined Sanders Morris Harris in April 2003. Prior to joining Sanders Morris Harris Jay worked as a financial analyst for Duke Capital Partners. At Duke Capital Partners Jay worked on the execution of senior secured, mezzanine, volumetric production payment, and equity transactions. Prior to joining Duke Capital Partners, Mr. Jacobs worked in the Corporate Tax Group of Deloitte and Touché LLP. Mr. Jacobs graduated from the McCombs School of Business at the University of Texas in Austin, where he received his B.B.A. Mr. Jacobs also received his Masters in Professional Accounting from the University of Texas at Austin.

Scott Juda (Managing Director) – Mr. Juda joined SMH in 2002 as part of the acquisition of the Sutro & Co. capital markets group. From 2000 to 2002, Mr. Juda was an institutional sales-trader for Sutro & Co., covering a wide range of buy-side firms including mutual funds, pension funds and hedge funds. From 1997 to 2000, he was an associate at Buchalter, Nemer, Fields & Younger, LLP, practicing corporate and securities law. During his tenure as a practicing attorney, Mr. Juda worked on and closed a wide range of financings and other business combinations including but not limited to, mergers, acquisitions, leverage buy-outs, management buy-outs, roll-ups, sales of assets, and sales of business lines. Additionally, his practice included advising start-up companies, state and federal regulatory work and securities filings. His client base included venture capital firms, hedge funds, investment banks, public companies as well as private companies. Prior to attending law school, Mr. Juda was an analyst for Sutro & Co.'s investment bank. Mr. Juda received his bachelor degree from the University of Southern California and his juris doctor from the University of Pepperdine School of Law and serves on the board of directors of several companies.

Kenneth Ch’uan-k’ai Leung (Managing Director) – Mr. Leung runs The Environmental Opportunities Fund I and II, which represents $113 million of private equity partnership monies, and is an advisor to several environmental companies. Prior to joining SMH in 1995, Mr. Leung was a Managing Director at Smith Barney from 1978 to 1994. He has been an Institutional Investor “All Star” analyst for twenty-one years and has been involved in many of the major environmental service investment banking transactions over the past thirty years. Mr. Leung was a Vice President at F. Eberstadt & Co. from 1974 to 1978 and an Assistant Treasurer at Chemical Bank from 1967 to 1974. Mr. Leung is a director of several fund portfolio companies.

John H. Malanga (Vice President) – Mr. Malanga joined SMH in 1996 and is currently a Vice President in the Investment Banking Group. Mr. Malanga has actively participated in a variety of private and public equity offerings and merger and acquisition transactions. Previously, he was a member of Jefferies & Company’s Energy Group where he provided investment banking services to small and mid-cap energy companies. Mr. Malanga serves on the Board of Directors of Champion Window, a Texas-based manufacturer and marketer of aluminum fenestration products. He also serves as manager of several limited liability companies formed to manage certain private equity investments. Mr. Malanga graduated from the Jones Graduate School of Management at Rice University where he received an M.B.A. with a concentration in Finance. He received a B.S. in Economics from Texas A&M University.

Brian McConn (Analyst) – joined Sanders Morris Harris in July 2003. Previously, Mr. McConn was a Summer Analyst with the West Power group at Reliant Energy. Additionally, Mr. McConn was a Junior Analyst Intern with Austin Capital Management, which manages a portfolio of hedge fund investments. Mr. McConn graduated from the McCombs School of Business at the University of Texas at Austin, where he received a B.B.A. in Business Honors and Finance with a minor in Accounting.

Bruce R. McMaken (Senior Vice President and Managing Director) – Mr. McMaken is an officer in the Investment Banking Group. Mr. McMaken also serves on the Investment Committees of the Environmental Opportunities Fund, a $38 million private equity fund, and Environmental Opportunities Fund II, a $75 million private equity fund, both of which are managed by affiliates of SMH. Prior to joining the firm in 1992, Mr. McMaken was involved in providing independent corporate finance and venture capital advisory services to clients primarily in the environmental services, biotechnology and real estate development industries. He received a B.A. from Cornell University. He serves as Director for Knight Trading Group (NITE), which operates the largest Nasdaq and third-market equity market makers in the United States; IESI Corporation, a solid waste collection and disposal company; and Northstar Passenger Services, a transportation services company operating in Canada.

John Nghiem (Associate) – Mr. Nghiem joined the Investment Banking Group in April 2001. Prior to joining SMH, Mr. Nghiem was a Financial Analyst with Security Capital Group in the Investment Banking Division where he worked on a variety of private equity and merger transactions for real estate companies. Previously, Mr. Nghiem was a Summer Analyst with Credit Suisse First Boston. Mr. Nghiem graduated from the University of Chicago, where he received a B.A. in Political Science.

Will Page (Associate) –Mr. Page joined the Investment Banking Group in July 1998.  Mr. Page began his career in corporate finance as an Analyst in the Investment Banking Group with Sanders Morris Mundy.  He has been involved in mergers and acquisitions, public offerings, private placements, divestitures, leveraged buyouts, strategic consulting, and restructurings.  Mr. Page graduated from the McCombs School of Business at The University of Texas at Austin, where he received a B.B.A. in Finance with a concentration in Accounting.

Frederic L. Saalwachter (Managing Director) – Mr. Saalwachter joined SMH in March 1998 to provide investment banking services to energy companies. From 1994 to 1998, Mr. Saalwachter was Managing Partner of Gladstone Partners, a private investment banking and financial advisory firm that raised capital and offered consulting services to energy and environmental companies. From 1989 to 1993, he was Executive Vice President and Managing Director of Kemper Securities where his responsibilities included management of public and private financings and merger and acquisition advisory services. Earlier in his career, Mr. Saalwachter held senior positions in Corporate Finance for five years with Shearson Lehman Brothers and ten years with Warburg Paribas Becker in New York, and was a co-founder and Chief Financial Officer of a group of energy services companies. He received a B.A. from Fairfield University in Fairfield, Connecticut.

Jonah D. Sulak (Vice President) – Mr. Sulak joined the Investment Banking Group as an Analyst in 1997 and has worked on numerous private and public financings and advisory engagements. Mr. Sulak is a board observer for Lombardi Software, Inc., an eBusiness process integration solution provider; and RigNet, Inc., a voice and data solution provider to the offshore oil drilling industry. Mr. Sulak graduated from the McCombs School of Business at the University of Texas in Austin, where he received a B.B.A. in Finance with a concentration in Accounting and Spanish.

Matthew Thomas (Analyst) – Mr. Thomas joined the Investment Banking Group in May 2003. Prior to joining Sanders Morris Harris, Mr. Thomas was an Analyst with Howard, Frazier, Barker, Elliot, Inc., a valuation and financial advisory services firm, where he was involved in the valuation of closely held entities in addition to assisting on a number of private equity transactions. Previously, Mr. Thomas was an Analyst in the Investment Banking Division of SoundView Technology Group, Inc., a technology-focused securities firm, where he provided support for various transactions including mergers and acquisitions and initial public offerings. Mr. Thomas graduated with honors from the University of Texas at Austin with a M.P.A. and a B.B.A. in Accounting.

Amanda A. Welsh (Analyst) – Ms. Welsh joined the Investment Banking Group in September 2001. Mandy has more than two years of experience with the Energy & Power Group at Bank of America and Banc of America Securities LLC as a credit products analyst and corporate finance analyst. At Bank of America, she had responsibility for supporting credit products origination, underwriting and portfolio management activities as well as screening and approval of all major corporate transactions in the energy and power group. Previously, Ms. Welsh was a credit support analyst for Frost National Bank. Ms. Welsh graduated Cum Laude with honors with a B.B.A. degree from Texas Christian University.