Robert Levine, CFA, recently left Nomura after nearly twenty years. He was President, CEO, CIO of Nomura Corporate Research and Asset Management, Inc. ("NCRAM"). In 1991, Mr. Levine founded NCRAM as an analyst-driven research boutique in below-investment-grade debt. He served as NCRAM's President and CEO continuously since its founding. Mr. Levine was originally the Portfolio Manager for High Yield, and then served as the Chief Investment Officer for all NCRAM portfolios. In these capacities, he led NCRAM into expansion in the areas of Emerging Market Debt and Syndicated Bank Debt. Prior to his position at Nomura, Mr. Levine was with Kidder, Peabody, Inc., for thirteen years, most recently, as President of Kidder Peabody High Yield Asset Management, Inc. ("KPHYAM").

Formerly, he was a Managing Director of the Merchant Banking Department and Director of Research at the Kidder Peabody High Yield Research Department, where his publications included, "The High Yield Sector Report," a frequent analysis of the high yield market, focusing on portfolio strategy and bond selection. Mr. Levine is a CFA Charter Holder, a past member of The Association for Investment Management and Research ("AIMR") Accounting Policy Committee, a past Director and past President of the Fixed Income Analysts Society, and past Chairman of the Fixed Income Analysts Society annual Bond Conference. He earned his MBA from the Wharton School of Finance and his undergraduate degree from The City College of New York. Mr. Levine was a student instructor in the MBA program at the Wharton School and his been an adjunct professor at the Graduate Business School of New York University.