Board of Directors

RAYMOND BUSUTTIL
Managing Director & CEO

Mr. Busuttil serves as the Managing Director and CEO of IIG Bank (Malta) Ltd. With over thirty-four years of experience in the Maltese banking sector, Mr. Busuttil brings significant experience in the local financial services industry, as well as access to regulatory bodies, corporate relationships and an international network of contacts in correspondent banking and global trade finance.

Prior to joining IIG Bank (Malta) Ltd., Mr. Busuttil served in several key managerial positions with various financial institutions, including FIMBank plc, where he spent thirteen years as a Chief Operations Manager, General Manager and Executive Vice President. He was responsible for various aspects of that bank's global operation and assisted in FIMBank's transition to a public entity, including overseeing the IPO and listing on the MSE. He was also a member of the Risk Management Committee, which was responsible for approving all Credit facilities.

Mr. Busuttil is an associate of the Institute of Financial Services, London.

JOSEPH GRIOLI
Chairman

Mr. Grioli serves as Chairman of IIG Bank (Malta) Ltd. With over thirty years experience in private companies and government institutions in Malta he provides the bank with access to a vast corporate experience and a network of relationships throughout Europe.

Mr. Grioli served in several executive management positions in various industries, including banking and telecommunications. He was appointed Managing Director of Vodafone's first operation outside the UK and eventually sat on the company's South Europe Council. During his career, he gained a breadth of experience, ranging from accounting, finance and operations management. For thirty three years, Mr. Grioli served as a Director and provided leadership and oversight to many private and public organizations. In 1991 he was appointed Chairman of the Malta Maritime Authority, a position he held until January 1997. Mr. Grioli has also held several key government positions throughout his career, including with the Malta Export Trade Corporation and the Malta Economic Development Council, agencies that he contributed to found. He was elected President of the Malta Federation of Industries for two terms. Currently Mr Grioli is a trustee of two major charitable foundations in Malta.

DAVID HU
Co-founder IIG LLC

Mr. Hu co-founded The International Investment Group LLC and is a Managing Partner, Chairman of the Investment Committee and Chief Investment Officer of the firm.

Prior to co-founding IIG, Mr. Hu served as Managing Director-Head Trader of Emerging Markets Fixed Income at Smith Barney, Inc. and Nomura Securities International, Inc., and Senior Trader of LDC debt at American Express Bank Ltd. In these capacities, he had significant involvement in the trading of emerging markets debt and related instruments and the management of substantial proprietary portfolios. Mr. Hu also played a significant role in the underwriting of numerous transactions on behalf of corporations, financial institutions and government entities.

Mr. Hu started his banking career at Mellon Bank N.A., where he structured cross-border trade transactions and served as an analyst in the bank's Metals and Mining Credit Group.

Fluent in Spanish and Chinese (Mandarin and Cantonese), Mr. Hu holds an MBA in International Management from Thunderbird School of Global Management. He also holds an undergraduate degree in civil engineering from Universidad de San Carlos de Guatemala.

J DOUGLAS NELSON
Director

Mr. Nelson serves as Director of IIG Bank (Malta) Ltd. With fifty years of experience in the banking industry in Malta and worldwide, Mr. Nelson has direct and extensive experience in the retail, corporate and investment banking sectors and brings a wealth of knowledge in all aspects of international banking, lending, underwriting, risk management, operations and in particular, global trade finance.

Prior to joining IIG Bank (Malta) Ltd., Mr. Nelson spent over thirty five years with RBC Financial Group, Canada and undertook assignments in Continental Europe, Canada, the USA and Latin America. Prior to his retirement from RBC he was Director-Head of Global Trade Finance at RBC Capital Markets, London with responsibility for the Bank's global trade finance business outside North America. With fifteen years Latin American field experience he brings in depth knowledge of this sector and geography.

Mr. Nelson has been an Associate of the Institute of Bankers since 1968.

MARTIN S SILVER
Co-founder IIG LLC

Mr. Silver co-founded the International Investment Group LLC in 1994 and is a Managing Partner, Member-Investment Committee. He is responsible for the firm's overall management and practice, including oversight of the firm's operations as well as marketing and business development, operations and finance functions.

Prior to co-founding the firm, Mr. Silver served in several executive management positions with American Express Bank Ltd, including Executive Director and Comptroller, with responsibility for the bank's global financial management. Mr. Silver was instrumental in establishing and maintaining the LDC trading operation and debt/equity swap programs. His varied accomplishments include the financial management of the American Express Bank's $2 billion plus exposure in LDC debt and equities, the sale of American Express Bank's private bank and oversight of a $2 billion investment portfolio. Mr. Silver also served as primary liaison with various regulatory bodies in the US and overseas. Previously, Mr. Silver worked in various senior financial capacities with Manufacturers Hanover Corporation and Irving Bank Corporation. He began his career with KPMG Peat Marwick.

Mr. Silver, a Certified Public Accountant, is a graduate of City University of New York, Brooklyn College.

KARL VELLA
Executive Director, Chief Financial

Mr. Vella serves as the Executive Director and Chief Financial Officer of IIG Bank (Malta) Ltd. In this capacity, he has oversight of the finance and administration functions of the company, including implementation of IT systems.

Prior to joining IIG Bank (Malta), Mr. Vella held key finance and compliance positions in several banking institutions including Izola Bank Limited, Malta. As the Financial Controller and Company Secretary of Izola Bank, Mr. Vella was responsible for the Bank's credit function, treasury, currency and foreign exchange markets. In this capacity, he had significant involvement in liaising with auditors, Maltese Government agencies, regulatory bodies and the Central Bank of Malta.

Mr. Vella holds a bachelor of commerce degree from the University of Malta in Banking and Finance.