Christopher Sturdy

Christopher Sturdy is Managing Director of The Bank of New York and Head
of Depositary Receipts based in New York. Mr. Sturdy joined the bank in
1982 and has worked in London and New York. He has been involved in the
ADR business for 16 years since early privatizations in the UK and
subsequently throughout Asia, Latin America and Central Europe. He has
contributed for many years to articles published in the press and
industry periodicals and is a frequent speaker at conferences worldwide.
Mr. Sturdy has a BSc degree in Economics and Spanish from Duke
University, Durham, North Carolina.