As you know, there have been significant changes within the Global Risk 
Operations group.  As such, I have prepared an updated organization chart to 
reflect the group's reporting responsibilities going forward.

David Maxwell has excepted a position in EIM reporting to Andrea Reed.  He 
will be responsible for developing the analytical systems for deal flow.  
Susie Ayala will take over David's position as lead of the Merchant Assets 
group.

Daniel Falcone has accepted a rotation into the EGM fundamentals research 
group.  Antia Luong will take Daniel's place in the Risk Controls group.

Please join me in congratulating everyone on their new roles.

Best regards

Shona