Dick Burridge, Sr.
Dick Sr. ('51 Finance) has been involved in the investment business for over 50 years, first as an analyst, then as a money manager. Currently, he serves in both capacities at RMB Capital Management, LLC in conjunction with his son’s book of business. He has served as head of investment research at Northern Trust Co.; Treasurer of the University of Chicago and manager of the University’s endowment assets; Vice Chairman of Alliance Capital Management and manager of its Chicago office; and founder of the Burridge Group, an investment management organization specializing in mid- and small-capitalization companies. He also serves on the boards of several philanthropic organizations. He is the former Chairman of the Blue Cross of Illinois. In 2006, he was the recipient of the University’s Norlin Award.
Simon has 13 years of experience as a private equity and investment banking investment professional. He is a Co-Founder and Managing Partner of Revelstoke Capital Partners, a private equity firm focused on building exceptional companies within the healthcare, logistics, distribution and business services industries. Prior to forming Revelstoke, Simon was a Managing Director of Eos Partners, a New York City based private investment firm and an investment professional with KRG Capital Partners, a Denver based private equity firm. He began his career as an investment banker in the mergers and acquisitions group of Credit Suisse First Boston, based in New York City and also worked in the firms Tokyo office. He currently serves on the board of directors of Addus Healthcare, Inc. (NASDAQ: ADUS) as well as the board of HCAP, the nation’s leading healthcare services and capital conference for C-level executives from the healthcare and finance industries. Simon has a BS in Business Administration from the University of Colorado at Boulder and a M.B.A from Harvard Business School. Simon splits his time between New York City and Denver.
Elias is a Senior Portfolio Manager at BSW Wealth Partners in Boulder, a multi-family office with $800M in assets under management. He is responsible for managing client portfolios, conducting due diligence on private equity and real estate managers, and contributing to the firm’s overall investment strategy. Prior to joining the firm he was a co-manager on a discretionary equity and fixed income portfolio for the clients of a wealth management team at Wells Fargo Advisors. Prior to his career in finance he oversaw the operations of one of the first mountain biking camps for adults and children – Dirt Camp. Elias completed both his BS and MBA degrees at the University of Colorado in Boulder. He enjoys surfing, backcountry skiing, mountain biking and paddle boarding and lives in Boulder.
Frank joined Guggenheim in 2010, where he leads Guggenheim’s insurance asset management business development efforts. Prior to joining Guggenheim, he was President of XL Life & Annuity. Under his leadership, XL’s institutional product business grew organically to over $6 billion in five years. Frank oversaw ~75 individuals as President of Transamerica’s Asset Management Division and was a member of Transamerica Corporation’s Senior Management Council. His division included the Financial Products, Stable Value, and Structured Settlements lines of business. He was responsible for facilitating over $20 billion in asset growth that generated +$55 million in after tax net income annually. Prior to this he was with NatWest Capital Markets in their Derivative Products Group. He began his career in a proprietary trading group on Wall Street as an option arbitrage trader. Frank has a BS degree in Business Administration from the University of Colorado-Boulder with a major in Finance.
Bob is a partner with The Bridger Group, providing management and IT consulting to the Professional & Trade Association Sector. He was previously President of Nelnet Servicing, an education planning and financing company focused on providing products and services to students, families, schools, and financial institutions nationwide. The Company’s customers consist of students and families, colleges and universities, private, parochial, and other K-12 institutions, as well as lenders, holders, and agencies in education finance. In addition, they offer a range of pre-college, in-college, post-college products and services that help students and families plan and pay for their education and careers. Nelnet has five segments: Student Loan and Guaranty Servicing, Tuition Payment Processing and Campus Commerce, Enrollment Services, Software and Technical Services, and Asset Generation and Management. Bob also serves on the Board of Directors of the Latin American Education Foundation (LAEF).
Xerxes K. Bhote
Xerxes K. Bhote launched Geneva Capital Fund, Inc. & Geneva Capital Management, Inc. in 2020. Prior to this venture he was an Executive Director of Institutional Equity Derivatives Sales at MKM Partners. He has extensive experience working with institutional clients – pension funds, endowments, family offices, hedge funds and asset managers – on systematic yield enhancement programs. Xerxes’ background encompasses both fixed income and equity derivatives products. He was a Senior Vice President at TJM Investments, LLC. He is on an Advisory Committee for The Security Traders Association (STA), and has been serving on the Board of Trustees for Big Brothers Big Sisters of Metropolitan Chicago since 1990. He received his B.S. in Economics and Political Science at the University of Colorado, Boulder in 1984.
Matthew Breen is a Managing Director at PJT Partners (NYSE: PJT), an independent investment bank, and is a member of the Technology M&A practice based in San Francisco, CA. Matthew joined PJT Partners following the spin-off of Blackstone's (NYSE: BX) advisory businesses in 2015, where he had previously been since 2008. Matthew is responsible for covering all sectors of the technology industry and has significant experience in corporate M&A, equity and debt-financing transactions, and private equity investments. Prior to joining Blackstone, he worked in Citigroup’s Investment Banking Division in the Technology Group based in Palo Alto, CA. Matthew graduated with Distinction from University of Colorado, with a B.S. in Business Administration with a dual emphasis in Finance and Accounting. He is currently a member of the Leeds School of Business GOLD Board, and is involved in the Blackstone Entrepreneurs Network in Colorado.
Dick Burridge, Jr.
Dick is a founding partner, CEO, and CIO of RMB Capital. His career spans more than 25 years in the financial industry, including tenure as one of the top advisors of a Fortune 100 company. It was Dick's outstanding record of investing and unrelenting commitment to his clients' best interests that served as the foundation of the RMB philosophy and approach. In 2005, Dick made the visionary move to co-found RMB as an independent investment firm. This allowed him to gain freedom from corporate conflicts of interest and make the best investment decisions for each individual client while serving them with the highest level of care. At RMB, Dick sets investment policy, oversees all portfolio management activity, and directs clients' asset allocations. Dick and RMB have received remarkable accolades from several prominent publications, including Forbes, Chicago Magazine, and Barron's Top 100 Investment Advisors. Dick earned a BS degree in Economics from the University of Colorado at Boulder.
Bessie Conty is a manager of Fixed Income at Colorado PERA. She has been managing fixed income assets for Colorado PERA since 2003. She is the senior portfolio manager for PERA’s Corporate Bond portfolio, and is on the team which directs asset allocation for PERA’s $11 B Fixed Income portfolio. Bessie serves on the committee which over sees the CO PERA’s Defined Contribution assets and she leads PERA’s counterparty committee. She began her finance career at Northwestern Mutual, managing assets on the private placement/equity team. Mrs. Conty holds a BA from the University of Colorado at Boulder, an MBA from Washington University in St. Louis and is a CFA Charter holder.
Massimo Cutuli has 18 years of experience in Financial Services as a Quantitative Consultant and Risk Manager. He is head of risk and responsible for risk management for Citadel Securities in the United States. Prior to Citadel Securities, Massimo spent the majority of his professional career at JP Morgan, and Goldman Sachs, where he led the Hedge Fund Risk Quant Group and was in charge of OTC Derivatives Clearing Risk Management. Previously he worked for PriceWaterhouse Coopers Advisory where he helped financial institutions on issues relating to corporate governance, risk management and model validation. He started his career at Bloomberg Financial Markets as a Fixed Income Quantitative Modeler. Massimo has also served on the Chicago Mercantile Exchange Interest and Credit Derivatives risk committees. He received a BS in Aerospace Engineering from City University London, and MS degrees in Physics (University of London), Aerospace Engineering (Cornell University) and Operations Research (Columbia University). Massimo lives in Chicago.
Keith is an innovative and strategic thinker, who has a global, holistic approach to business, deep analytical skills, and 20 years of experience tackling tough business challenges and generating creative solutions. Keith currently serves as Managing Partner of Euclidean Business Advisors, a management consultancy focused on using insightful analysis and creative problem solving to help its clients win their competitive race. Prior to Euclidean Business Advisors, Keith built and provided leadership of several critical domestic and international financial business units, generating key insights and innovative solutions that drove performance. His career also includes performing strategic analyses for one of the world’s largest airlines, working with top consulting firms advising on key business challenges for Fortune 500 companies as well as some of the world’s most prestigious institutions of higher education. Keith holds an MBA in Strategy and Finance from the Kelley School of Business at Indiana University as well as a BS in Finance from the Leeds School of Business. He lives in Denver with his wife—also a University of Colorado graduate—and two children, both of whom are future Buffs.
Luke Düster is a member of CRG’s Founders Group and serves as a Managing Director and member of CRG’s investment committee. Mr. Düster leads CRG’s investment process from sourcing and due diligence through realization. He is also responsible for portfolio management and portfolio company exits. Mr. Düster also serves on the board of directors of several CRG portfolio companies, both as a director and as an observer, and serves portfolio company senior management teams as an advisor on financial, strategic and operational initiatives. He has led investments in companies such as Neotract, Nevro, Omeros, Synergy Pharmaceuticals, Strongbridge Biopharma, Silk Road Medical, NanoString Technologies and many others.
Prior to CRG, Mr. Düster was an investment banker at Harris Williams & Co., where he advised private equity and corporate clients across a broad range of M&A assignments. Mr. Düster also held investment banking roles at the Wallach Company, a regional investment banking boutique, and at the Nord Companies, a healthcare advisory firm.
Mr. Düster received a bachelor’s degree from the University of Colorado at Boulder in 1997, where he graduated summa cum laude. He received an M.B.A with honors from the Wharton School at the University of Pennsylvania in 2004.
Elyse Dolph Foster
Elyse is principal and owner of Harbor Financial Group, an independent wealth management and financial advisory firm. She grew up in Boulder, graduating from the University of Colorado in 1977 with a BA in political science with comprehensive studies in economics. After a stint as a corporate accountant and investment banker, Elyse founded Harbor in 1988 with the belief that personalized financial advice provided in a comfortable atmosphere where client goals are a priority was possible. Elyse’s role includes client acquisition, client relationship management, strategic planning, investment direction and investment selection for the firm. Elyse is quoted in numerous publications and industry rankings and has been invited to speak at industry gatherings throughout the United States, sharing her extensive management and investment advisory knowledge. Current projects include a successful Associate Wealth Manager training program for the next generation planners and interactive client events aimed at creating a forum for learning and effective communication. Topics include charitable planning, educating your children about money, effective private equity investment, impact investing and women and investing.
Andy Hartman is a Financial Advisor with The Legacy Impact Group at Morgan Stanley. Andy has worked in the financial industry for over 12 years; his career started at Goldman Sachs in San Francisco, on the Credit Sales and Trading desk, covering large institutional clients across Asset Managers, Insurance Companies, Pensions, Foundations, Endowments and Hedge Funds.
During his years in Finance, Andy has excelled his career specializing in various fixed income products. In addition to Goldman Sachs, he has worked at Morgan Stanley, BlackRock, and CMG Financial. He takes great pride in building long standing cliet relationships and enjoys getting to know his clients both professionally and personally. His past experiences of markets, building trust and confidence with clients, and overall drive to do the right thing, is what led him to the career of Wealth Management. The Legacy Impact Group at Morgan Stanley has over 55 years of ectensive financial experience. The team takes into account all aspects of their clients financial picture, working like a family office, often collaborating with their clients CPA, trust and estate attorney.
Andy graduating from the University of Colorado Boulder, with an emphasis in Quantitative Finance. He has lied in the Bay Area since 2008, but never forgets his roots where he grew up in Sioux City, Iowa. Spending time with his family and friends is something he values most. Andy and his husband Brad love outdoor activities such as skiing, hikinh, taking their golden doodle Ollie to the beach and are always up for traveling.
Mark works at Merrill Lynch. Mark graduated from the University of Colorado in 1972, where he earned a degree in Business Administration and Finance, with a minor in Marketing.
Steve is a Managing Partner and Co-Founder of LCM, a member of the LCM Investment Committee and is responsible for originating, executing and managing investments across healthcare industry sectors such as healthcare services, life science services, medical device and medical tools and equipment. He is currently a member of the Board of Directors of American Veterinary Group and Restoration Behavioral Health Group. He has over 20 years of private equity and corporate finance experience and was a Managing Director at KRG Capital Partners, a private equity firm established in 1998 with ~$4 billion of assets under management. Steve also served as a member of KRG Capital’s Fund IV Investment Committee and as a member of the firms Operating Board of Directors. He was also a lead Managing Director and member of the Board of Directors for a number of its portfolio companies. Prior to joining KRG Capital, Steve served as a Vice President for a regional investment banking firm (1996 to 1998) and as a Manager in the Corporate Finance Services Group with the San Francisco office of Coopers & Lybrand (1992 to 1996). Steve earned a MS in Finance and a BS degree in Accounting from the University of Colorado. He is currently a member of the Young Presidents’ Organization.
Brandon O'Leary is currently pursuing an MBA at the University of Washington Foster School of Business. Previously Brandon worked as a Senior Equity Trader at Unicom Capital, LLC. He joined Unicom in 2007 and served as a Junior Trader on the equity trading desk. During his time at Unicom, Brandon was responsible for trading long/short equity positions across multiple electronic trading platforms for portfolio managers within the firm and monitoring relative price action in various asset classes and their tangential effects to positions in the portfolios. Brandon also ran a long/short portfolio within the firm and maintained relationships with sales, trading and research contacts in a wide range of products for idea generation, best execution, research and primary offering access. Prior to joining Unicom Capital, Brandon O’Leary received his BS at the Leeds School of Business with an emphasis in Finance.
Ben Paull is the Chief Financial Officer of TPG Growth & The Rise Fund. Prior to joining TPG, Ben was the Chief Financial Officer at Magnetar Capital, where he oversaw the firm's finances across all aspects of the business. He managed the fund accounting, business unit control, operations, reporting, treasury and portfolio finance departments. He also served as a member of the firm's Management, Valuation, Best Execution, and New Business Ethics committees. Prior to joining Magnetar in September 2008, Ben worked in the investment banking financial institutions group at Lehman Brothers, where he advised alternative asset managers on M&A and capital markets transactions. Ben graduated from the University of Colorado Boulder, Leeds School of Business, with a B.S. in Business Administration. He is also a Chartered Financial Analyst (CFA).
Greg is CFA and Managing Director at BlackRock, is the Head of iShares Equity Portfolio Management team within BlackRock's Beta Strategies Portfolio Management Group. He is responsible for overseeing the management of the Americas listed iShares equity funds. Greg's service with BlackRock dates back to 1999, including his years with Barclays Global Investors (BGI), which merged with BlackRock in 2009. At BGI he was a senior portfolio manager and team leader in the iShares Index Equity Portfolio Management Group and was previously a transition manager in the Transition Management Group. Prior to BGI, Greg worked at Pacific Investment Management Company (PIMCO) from 1997 to 1999 in various roles. Greg earned a BS in Accounting from the University of Colorado at Boulder.
Cindy is Senior Credit Officer for Silicon Valley Bank, where she oversees and manages the bank's portfolio in the technology sector, specifically in the areas of software, e-commerce, marketplace and gaming. Prior, Cindy was the head of Structured Products for the Central US. Cindy and her team were focused on providing clients with creative working capital solutions. Silicon Valley Bank works with the world’s most innovative companies and exclusive wineries. Cindy began her career at LaSalle National Bank in Chicago doing highly leveraged transactions and REIT financing following her time at Bank One, where Cindy was focused on the Boulder market. Cindy earned her BS in Business Administration from the University of Colorado focused on finance and entrepreneurship and was also part of the CU Women’s Tennis Team. Cindy is also a Chartered Financial Analyst. Cindy lives in Denver.
Scott has been the Chief Investment Officer for the Fire and Police Pension Association of Colorado (FPPA) since 2007, with the primary responsibility for the overall design and implementation of the investment strategy of the Association’s $5.5 billion in defined benefit and defined contribution plans. The plans are diversified across all major asset classes including domestic and international equity, fixed income, real estate, hedge funds and private equity.
Mr. Simon has a twenty-five years of professional investment management experience. Prior to joining FPPA, Scott was a portfolio manager with the University of Colorado Foundation where he focused on performing due diligence on existing and prospective investment managers with a specific focus on alternative investments; including hedge funds, real estate and private equity. Scott also spent six years at CenturyLink Asset Management as a portfolio manager in private equity and also as the firm’s internal legal counsel. Scott began his career as an investment analyst at Denver Employees Retirement Plan.
Scott holds a B.S. in Business Administration and M.S. in Finance from the University of Colorado and a J.D. from the University of Denver. Scott is also a Chartered Financial Analyst.
Mr. Simon is on the Board of Directors and Chair of the Investment Committee for Young Americans Bank, a non-profit supporting financial literacy for kids, in addition to being on the Advisory Board of the Burridge Center for Finance.
Gibson Smith is the founder of Smith Capital Investors, based in Denver.
Mr. Smith previously served as Chief Investment Officer, Fixed Income, of Janus Capital Management LLC, a position he had held since January 2006. In that position, Gibson was also a member of the Janus Executive Committee. As Chief Investment Officer, Mr. Smith was responsible for Janus’ investment process within the firm’s fixed income division and served as Portfolio Manager on most of Janus’ fixed income strategies and funds including the balanced, total return, core plus, short duration, high yield, real return, global and LDI strategies. He has been credited with building the firm’s fundamental fixed-income business to over 37 billion dollars in assets under management under his tenure. Under his leadership the business received multiple awards for strong performance and exceptional risk adjusted returns generated for clients. Two of the funds he managed became two the largest strategies at Janus – The Janus Balanced Fund and the Janus Flexible Bond Fund prior to his departure. Mr. Smith joined Janus in 2001 after spending the first 10 years of his career at Morgan Stanley in Manhattan and San Francisco. Mr. Smith is actively engaged with the University of Colorado. He sits on the Leeds School of Business Alumni and Friends Board, chairs the Burridge Center at the Leeds Business School, sits on the University of Colorado Foundation Trustee Board and the Investment Advisory Committee for the University of Colorado Treasury. He also serves as a member of Colorado Academy Board of Trustees. He sits on the boards of Country Club of the Rockies (Vice President) and Colorado Golf Club. In addition he does some advising and volunteer work for the Vail Centre in Vail Colorado. Mr. Smith is also a member of the Economic Club of Colorado and the Denver Gyro Club.
George co-manages and oversees ACG Institutional business. As a Senior Managing Director, he helps set the strategic direction of the firm. George is a member of ACG’s Investment Committee, which is comprised of senior members of the organization and whose primary task is to ensure continuity and consistency in the investment recommendations to clients. George works with a broad array of client relationships and brings value to clients through his strategic advisory, portfolio modeling and evaluation, and ongoing education. Prior to joining the firm in 1996, George was a Vice President for Gershman Investment Corp. in St. Louis. He brings a background in finance and real estate, and earned his BS in finance from the University of Colorado. George is a holder of the Chartered Financial Analyst designation and is a member of the CFA Society of St. Louis and the CFA Institute.
Zach is a Vice President within Guggenheim’s Power, Energy and Renewables Investment Banking Group, a global investment banking team, with offices in New York, London, San Francisco, Chicago and Houston, focused on advising companies across the energy value chain. He is based in New York. Zach is a graduate of Union College (NY) with a concentration in Environmental and Natural Resource Economics, fine art and classical studies, and holds a MBA from the Leeds School at the University of Colorado Boulder. Zach is passionate about transformative investments focused on global energy supply and scarcity, environmental conservation and sustainability.
Mr. Weil heads Investor Relations for North America. Before SVP, Mr. Weil was a Managing Principal and Head of Client Relations at Halcyon Capital Management where he was responsible for the global marketing efforts of all of Halcyon’s offerings. Before Halycon, Mr. Weil was a Managing Director at Silver Creek Capital where he led the firm’s strategy and business-development efforts in North America focusing primarily on hedge funds, direct lending and non-performing loans. He received his BA in English from the University of Colorado in 1991 and is a Chartered Alternative Investment Analyst.
Tim is President of Wolf Interests, Inc., the investment entity that he established after he retired as Chief Integration Officer of MillerCoors Brewing Company in June, 2010. Prior to MillerCoors, Tim was CFO of Coors Brewing Company where he helped drive the company’s $1.9 billion acquisition of Bass Breweries. Prior to coming to Colorado, Tim spent time with PepsiCo, the Walt Disney Company, and Euro Disney. Tim graduated from Harvard College in 1974 with a BA in economics, and an MBA in finance and marketing from the University of Chicago Graduate School of Business.
Burridge Center Emeriti/ae Board Members
The Burridge Center is grateful to the individuals below for their service as Board Members over the years. Emeriti/ae Board Members continue to receive updates about the Center's activities, and are invited to the various activities of the Center, including -but not limited to- the annual conference, treks, and guest speaker events.
Kyle is the president and chairman of the board of Flatirons Bank, a community bank serving primarily Boulder County. He previously worked at Bank of America in San Francisco and London, and in management consulting at Accenture in Denver. Kyle attended both undergraduate and graduate school at CU Boulder, earning a BA in Economics, a BS in Business Administration with an emphasis in Finance, and subsequently, a MBA. He serves as a director of the Independent Bankers of Colorado, and is a member of the Boulder Rotary Club. Kyle is a violinist, a frequent patron of the arts (in particular orchestral music) and serves as the board president of the Boulder Philharmonic Orchestra. He is also an instrument rated private pilot, an aviation enthusiast, and a member of the Experimental Aircraft Association. Kyle's favorite outdoor athletic pursuit is skiing, and he earned the highest level of professional ski teaching certification while teaching skiing in Winter Park for several years. He was also recognized by the Boulder County Business Report as one of the top "40 under 40" leaders.
Jamie Henkel works in Private Wealth Management. He is a CFA charter holder and received his B.S. in Business Administration with a Finance emphasis from the University of Colorado, Boulder where he serves on the advisory board of the Burridge Center for Finance. Jamie lives in Denver with his wife and two daughters.
David C. Jordan, CFA
David is an Independent Investment Advisor. Prior to that, he was a partner and Portfolio Manager for Tributary Capital Management, where he developed and implemented investment strategy. He also managed portfolios for institutional and individual clients, among them the Tributary Growth Opportunities Fund (FOGRX) and the Tributary Balanced Fund (FOBAX). David has been managing institutional and individual investment portfolios since 1982. He received his BS in finance from the Business School at the University of Colorado. He holds the Chartered Financial Analyst designation and is a member of the CFA Institute, as well as the CFA Institute of Colorado. He has been a frequent guest on the business news networks CNBC, and Bloomberg Television, and has contributed to articles in The Wall Street Journal, Business Week, The New York Post, and numerous on line publications. In his leisure time David enjoys hiking, biking and camping, or traveling.
With a background as an operator, investor, Wall Street analyst, and advisor to software companies, Jim brings unrivaled insight to every phase of the business life cycle, from start-up to established public company. Over the course of his career, he has raised more than $4 billion for various software ventures in the U.S., Europe, Israel and Asia. Prior to establishing J. Moore in 2008, Jim was managing director of North Point Advisors, an M&A firm which he helped grow to the $9 billion transaction level. Before that, he was a partner at Alex Brown. Following its acquisition by Deutsche Bank, Jim served as managing director of technology research. Jim established himself on Wall Street and in Silicon Valley as an expert in the enterprise software world, and had the privilege to play a role in the growth of such firms as WebEx, Mercury Interactive, Business Objects, BEA Systems, and Tibco. He also published research for many years on industry giants such as Microsoft, Oracle and SAP. Jim holds a BA in economics from the University of Colorado and an MBA from Columbia Business School. He is an entrepreneur in residence at Columbia Business School in New York and a regular lecturer at Haas School of Business at the University of California Berkeley.
Steven C. Owsley
Steven Owsley is the founder and portfolio manager for Madison Street Partners, LLC. He began his investment career in 1988 as a Principal Market Maker in OTC securities with John G. Kinnard, a regional brokerage firm based in Minneapolis, and was a Market Maker and Position Trader for 10 years. In May 1998, he joined ETG, LLC, an equities trading firm based in New York. While at ETG, he managed and traded the firm’s proprietary capital until December 2003 when Madison Street Partners was formed. Steven Owsley graduated from the University of Colorado with a BA in Business Finance in 1987.
Jennifer Paquette recently retired as the Chief Investment Officer of the Public Employees’ Retirement Association of Colorado (Colorado PERA). Jennifer Paquette manages the investment activities for the $45 billion pension plan and oversees portfolio and risk management. Prior to joining Colorado PERA in 1995, Jennifer Paquette served as the Vice President and an Institutional Account Executive for Merrill Lynch, Pierce, Fenner & Smith. Jennifer Paquette also worked for Alliance Capital Management as Vice President, Portfolio Manager where she managed high yield bond portfolios. She received a Master’s of Science degree from the London School of Economics and received a Bachelor of Arts degree from Boston College. She holds the designation of Chartered Financial Analyst and is a member of the CFA Institute and the CFA Society of Colorado. Jennifer Paquette is a member of the PCAOB Standing Advisory Group and is a member of The Colorado Trust Board of Trustees.