Raymond C. Stewart

RAYMOND C. STEWART, the Founder and Chief Investment Officer of RASARA
Strategies, Inc., has been in the investment business for over 25 years.
He began his career at Salomon Brothers, Inc., the investment banking
and securities brokerage firm. Starting as a part-time employee at the
firm in 1979 while attending graduate school, Mr. Stewart was
responsible for developing banking industry statistical databases. Upon
obtaining his MBA degree from the Columbia Graduate School of Business
in 1980, he accepted a full-time position at Salomon Brothers as a
Securities Research Analyst, specializing in banking industry companies.
Instrumental in refining and adding coverage to the research
department’s banking industry product line, Mr. Stewart was a pioneer in
applying new valuation techniques to bank stocks. In 1983, he joined
Warren Marcus, a former Partner at Salomon Brothers, and helped form the
investment management firm WRM Equity Management, Inc. Mr. Stewart
continues to act as a co-Manager at this investment management firm that
follows a higher risk/higher return bank stock investment strategy than
RASARA. Mr. Stewart founded RASARA Strategies, Inc., in 1992. His views
on bank stock investing have appeared in Barron’s, BusinessWeek, Black
Enterprise magazine and Gendai Monthly, a Japanese business publication.
Mr. Stewart also holds a BS degree from Cornell University, where he
majored in Economics and Public Policy.