THE INVESTMENT COMMITTEE

The Leopard Group’s four Managing Partners are full-time executives of the Leopard Group:
Chairman: Terence F. Mahony, 65,
has over 40 years of investment-related experience. After spending 20 years in Institutional Sales at White Weld and Paine Webber in Geneva and Hong Kong, in 1990 Mr. Mahony joined Baring International Investment Management as Director and Chief Investment Officer of Latin America, where he launched the highly successful Baring Puma Latin America Fund.  In 1993 he became HSBC Asset Management’s Chief Investment Officer for Global Emerging Markets and Member of the Global Asset Allocation Committee, and launched HSBC’s first Global Emerging Markets fund.   From 1996 to 1999 Mr. Mahony served as Trust Company of the West’s Managing Director for Emerging Markets Equities, Chief Investment Officer of Global Emerging Markets, and President of TCW Asia Ltd., overseeing up to $2.2 billion assets under management.  Since 2000 Mr. Mahony has served as Director and Investment Committee member of Investment Manager Selection Limited, Chairman of Platinum Advisory International Inc., and independent director of a number of prominent international investment funds and companies.  Mr. Mahony holds a MBA (INSEAD) and a BA (Oxford).
Dr. Gordian Gaeta, 52,
is one of Asia’s leading banking consultants and risk control experts.  He has developed strategies and business plans for many of Asia’s leading financial services businesses, capital markets organizations, and stock exchanges, and advised or served close to half of the top 100 banks worldwide.  Previously an academic and banker in several countries, Dr. Gaeta started his consulting career with Booz Allen & Hamilton in London.  He moved to Hong Kong in the early 1980s to become the strategy advisor to Standard Chartered Bank. In 1991 Dr. Gaeta became Managing Partner for Booz Allen & Hamilton for financial services across Asia.  Since leaving Booz Allen in 1998, Dr. Gaeta has been an active private equity investor and a director or advisor to a range of entrepreneurial companies.  He continues to advise financial services groups at the Board or CEO level, and also undertakes corporate restructurings.  Dr Gaeta has published around 20 articles on banking and financial services and several books, notably “Frontiers in Credit Risk”. He is also a popular speaker on the international conference circuit, and a guest lecturer at several universities.  Dr. Gaeta received PhD and LL.M degrees from the University of Vienna.
Douglas W. Clayton, 47,
has 21 years of experience in emerging markets investments.  After serving as a US Army officer in Korea, in 1986 Mr. Clayton was hired as an Institutional Sales Manager at Sun Hung Kai Securities in Hong Kong. In 1988 he became Head of Research for Kerry Securities, first in Hong Kong and then in Thailand in 1989 where he was one of the first investment analysts on the ground.  Mr. Clayton served as Chief Executive of CLSA Securities in Thailand from 1994 to 1997, and led the office to the top ranking in the Asiamoney Brokers Poll.  Mr. Clayton was promoted to head CLSA’s newly acquired Latin America regional broking division, and rebuilt and managed CLSA’s offices in New York, Mexico, Brazil, Argentina, Chile and Venezuela.  He returned to Thailand in 1999 to found Abacus Equity Partners, a private equity advisory firm that sourced, structured and placed several notable transactions.  In 2001 Mr. Clayton was recruited to serve as Chief Executive of Indosuez WI Carr Securities’ Singapore and Malaysia offices. Mr. Clayton’s most recent position was Director and Chief Investment Officer of Knight Asia Group where he helped manage Knight Pacific Fund and Knight Thai Strategic Investments.  He holds a MM degree (Sasin) and a BA (Cornell).