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· Mr. Alphonse Fletcher, Jr., Chairman and Chief Executive Officer, founded Fletcher Asset Management, Inc. (FAM) in March of 1991.
· Fletcher Asset Management, Inc., an investment advisor registered with the U.S. Securities and Exchange Commission, manages Fletcher International and its shareholders (private investment funds established by the Firm) and works closely with the Fletcher Foundation.
· FAM has been a pioneer in the investment world, developing a number of innovative investment strategies. In particular, FAM is a leader in the field of structured direct investment, engineering the first such transaction with Zenith Electronics in 1993.
· Mr. Fletcher is a graduate of Harvard College, where he studied applied mathematics and serves as First Marshal of his class. During his four years at Harvard, Mr. Fletcher was cross-enrolled in Aerospace Studies at the Massachusetts Institute of Technology. He also holds a Master’s degree in Environmental Management from the Yale School of Forestry and Environmental Studies.
· Mr. Fletcher researches and implements investment strategies aimed at capitalizing on market inefficiencies to yield attractive, risk-adjusted returns from public companies managed with a view toward environmental and social sustainability.
· Mr. Fletcher was also a lieutenant in the U.S. Air Force Inactive Reserve for ten years after graduating from the ROTC program at Harvard and the Massachusetts Institute of Technology.
· Mr. Fletcher harbors a long-standing interest in community service and philanthropy, especially in the areas of environment and education. He has worked extensively on a variety of conservation projects including forest de-fragmentation, the creation of urban parks, wetlands restoration, coastal ecology studies, and the preservation of historic architecture. Mr. Fletcher has also served as Treasurer and as trustee of a number of national and local charitable, civic and educational organizations and institutions. Specific philanthropic projects have taken a variety of forms. In 2003 FAM and The Fletcher Foundation co-sponsored an exhibition at the Metropolitan Museum of Art entitled “African American Artists, 1929-1945: Prints, Drawings and Paintings” and arranged for students from New York City and various towns in his home state of Connecticut to visit this and a related exhibition at the Studio Museum in Harlem.
· A strong supporter of education, Mr. Fletcher also donated a copy of Encarta Africana to each of the more than 1,000 public elementary, middle and secondary schools in New York City, and to many schools in Connecticut. Encarta Africana is an African American-oriented CD-ROM encyclopedia developed by Professors K. Anthony Appiah and Henry Louis Gates, Jr. in conjunction with the Microsoft Corporation. In the spring of 1996 Harvard University announced the endowment of the Alphonse Fletcher University Professorship.
· In December 1994 Mr. Fletcher made a charitable contribution of his shares of Fletcher Capital Markets, Inc. (an affiliate of FAM) to Harvard University. Mr. Fletcher’s contributions to business and society have been celebrated by the 1999 Ernst & Young New York City Entrepreneur of the Year award, the Sponsors for Educational Opportunity’s 2002 Leadership Award, and the 2004 United Negro College Fund’s Extraordinary Black Man Award.
· In May 2004, Mr. Fletcher announced his most recent philanthropic endeavor: a $50 million initiative in honor of the 50th Anniversary of the Brown v. Board of Education Supreme Court ruling, in support of individuals and institutions working to further the broad goals of that landmark decision. One of the largest individual gifts ever made by an African American, the funds will be awarded over the next several years to support continued progress toward social equality since the Brown decision.
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