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PRIME MANAGEMENT TEAM
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The financial services industry, and in particular the hedge fund industry, is becoming increasing difficult to navigate in light of current market conditions and proposed new regulation. Prime believes that there is a growing need in the industry for an experienced administrator which can enhance its clients’ business through the sharing of expertise and the delivery of high quality service. The management team of Prime is comprised of seven individuals who each have at least 10 years of hedge fund administration experience. As a group, the management team has over 100 years of hedge fund administration experience. Brief details of the management team are as follows:
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Bermuda Office
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Joe Kelly C.A. is resident in Bermuda and the founding member of Prime. Mr. Kelly qualified as a chartered accountant in 1982 and worked for Coopers & Lybrand in both Scotland and Bermuda. Mr. Kelly also worked for an international global asset management company and was responsible for the administration of various funds. Mr. Kelly was employed with Hemisphere Management Limited and held the title of Vice President – Finance from January 1987 to November 1996, when he departed to establish Prime Management Limited in January 1997. Mr. Kelly is a member of the Institute of Chartered Accountants of Scotland and a member of the Bermuda and Canadian Institutes of Chartered Accountants and holds a Bachelor of Accountancy degree from the University of Glasgow.
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Carol Monaghan C.A. is resident in Bermuda. Mrs. Monaghan qualified as a chartered accountant in 1992 and worked for Coopers & Lybrand in both Canada and Bermuda. She was employed with Hemisphere Management Limited from May 1995 to April 1999, holding the position of Group Account Manager responsible for the administration of a portfolio of clients and supervision of a number of staff members. She joined Prime Management Limited in April 1999. Mrs. Monaghan is a member of the Bermuda and Canadian Institutes of Chartered Accountants and holds a Bachelor of Business Administration degree from Wilfrid Laurier University, Ontario.
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Bruno Richard C.A. is resident in Bermuda. Mr. Richard qualified as a chartered accountant in 1992 and worked for Deloitte (formerly Deloitte and Touche) in Canada and Bermuda. Prior to joining Prime Management Limited in May 2004, he was employed with BISYS Hedge Fund Services Limited (formerly Hemisphere Management Limited) from 1994 to 2004 where he held different management positions from Account Management to Director of Operations and Director of Shareholder Services. Mr. Richard is a member of the Bermuda and Canadian Institutes of Chartered Accountants and holds a Bachelor of Business Administration from the Université de Sherbrooke, Québec.
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Barry Mah CA CFA is resident in Bermuda. Mr. Mah qualified as a chartered accountant in 1992 and a chartered financial analyst in 1997. Mr. Mah worked for Price Waterhouse in Canada and Bermuda as an auditor from 1988 to 1994. Prior to joining Prime Management Limited in April 2006, he was employed with HSBC Alternative Fund Services from 1994 to 2005 where he held various positions from Senior Accountant to Vice President. Mr. Mah is a member of the Canadian and Bermuda Institute of Chartered Accountants, the CFA Institute, and holds a Bachelor of Commerce degree from the University of Alberta.
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Canadian Offices
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John Whiley C.A. is resident in the Kitchener/Waterloo area of Ontario, Canada. Mr. Whiley qualified as a chartered accountant in 1990, and worked for KPMG Peat Marwick in New Zealand and then Australia. In 1991 Mr. Whiley arrived in Bermuda and worked for Price Waterhouse. Mr. Whiley was employed by Hemisphere Management Limited from June 1993 to June 1997, and held the position of Group Account Manager. Mr. Whiley then headed an investment management and administration company in Bermuda before he joined Prime Management Limited in February 2002. He is a member of the Institute of Chartered Accountants of Australia, holds a Graduate Diploma of Business from Queensland University of Technology in Australia and completed the New Zealand Professional Examinations in Accountancy.
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Dan Fronchak CA-IT is a qualified accountant with an IT Specialist designation who is resident in the Kitchener/Waterloo area of Ontario, Canada. Mr. Fronchak is responsible for overseeing and managing the information technology requirements of Prime. Mr. Fronchak qualified as a chartered accountant in 1992 and worked for Coopers & Lybrand in both Canada and Bermuda. He was employed with BISYS Hedge Fund Services Limited (formerly Hemisphere Management Limited) from April 1995 to June 2003 holding positions from Account Manager to Director of Information Technology. In 2003, Mr. Fronchak qualified as CA designated IT specialist, a designation recognized as possessing a compelling combination of business skills plus IT knowledge. From 2003 to 2006 he worked for Fulcrum Limited where he was Director of Global Operations before joining Prime in August 2006. Mr. Fronchak is a member of the Canadian and Ontario Institutes of Chartered Accountants and holds a Bachelor of Business Administration degree from Wilfrid Laurier University, Ontario.
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Marty Brandt LLB is resident in Calgary, Alberta, Canada. Mr. Brandt is responsible for overseeing the compliance requirements of Prime and serves as the anti-money laundering reporting officer and compliance officer of Prime. Mr. Brandt was called to the bar in 1991 and practiced in Canada until 1993 when he joined the Bermuda law firm of Cox Hallett Wilkinson as an associate in the corporate department. Mr. Brandt was subsequently employed by BISYS Hedge Fund Services Limited (formerly Hemisphere Management Limited) from 1998 to 2003 where he held the position of Legal Counsel. Upon returning to Canada, Mr. Brandt acted as a consultant to the hedge fund industry before joining Prime in January 2008. Mr. Brandt is a member of the Law Society of Alberta and holds a Bachelor of Laws degree from the University of Saskatchewan.
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