Manager Management

Zoltan Biro, B.Sc., M.Sc.

Canadian-Hungarian Dual Citizen

Summary of Qualifications

Results-oriented professional with several years of progressive capital

markets, risk management and treasury experience. Has demonstrated

excellent business judgment, analytical, and communication skills. Major

experience, strengths and skills include: analytic strategic thinking,

strong team player, business relationship building. Technical forecaster

for FX and Bond desks at BAML as a hobby - developed own proprietary model

of forecasting with successful trade setups.

Professional Experience

GE Capital - London, UK

Deputy Treasurer -Funding, Liquidity, ALM and Investments

2012 - present

Main responsibilities include:

. Leading the Treasury Front Office and servicing customer needs in order

to maximize profitability and meeting targets while minimizing risk

arising from foreign exchange, interest rates and structural asset-

liability mismatches.

. Improve FX profitability and effectively manage the currency positions;

use surplus funds by closely monitoring market developments to cover

positions at an opportune time and take advantage of any pricing

inefficiencies.

. Managing and overseeing all key treasury relationships with clients,

banks and regulators; managing the flow of funds with respect to funding

and liquidity of GE Capital UK, coordinating with the Leaders of GE

Capital EMEA.

. Management of FX and interest rate risks of multi-currency client

accounts. Providing support to Business Development and Relationship

Leaders in order to grow the customer base by identifying and

recommending new treasury products and initiatives for existing and new

clients.

. Formulating the development of the Treasury strategy in line with GE's

vision, mission and corporate objectives.

. Leading the portfolio acquisitions and divestitures into the platform

from the Treasury's side of the organization.

. Managing the bank's asset and liability books and investment portfolio

ensuring adequate ratio management, liquidity management and cash flow at

all times.

. Secretary to the Bank's Asset and Liability and Investment Committees and

key member on the Risk Management Committee in order to advise on market

trends, implications on the balance sheet and to suggest appropriate

actions.

Bank of America Merrill Lynch - London, UK

Vice President - International Liquidity Risk Management - Corporate

Treasury 2011 - 2012

. Liquidity Risk responsibilities in the bank's International Corporate

Treasury with specific focus on stress testing. Key contributor for

integrated market, credit and liquidity risk for Head of Global Funding

and the International Treasurers based in London and the Head of

Liquidity based in New York.

. Responsible for credit, liquidity and financial analysis and monitoring

of countries and sovereign counterparties for securities held in Liquid

Asset Buffer. Proposed and established profitability contribution to

liquidity portfolio.

. Main responsibilities include the improvement of internal stress testing

and the methodology enhancement of the liquidity risk models. The

enhancement consist of the derivatives collateral and counterparty stress

testing, market and credit risk stress implications on liquidity.

. The methodology improvement relates to the severe stress testing of prime

brokerage business, Repo, OTC derivatives, futures, rates, FX, credit,

commodities and equity businesses. Extensive exposure to the FICC and

Equity desks strategists, asset optimization groups, CVA groups, head of

desks, COOs and interact both ways to improve the liquidity

risk capturing as well as the education of businesses on the liquidity

risk impacts.

. Responsible for providing analysis and ad hoc reporting and presentations

for the FSA and the FED.

Royal Bank of Canada - Toronto, Canada

Senior Manager - Portfolio Analytics - Treasury

2009 - 2011

. Treasury wide responsibility for all areas from liquidity and funding to

asset-liability management with specific focus on the Royal Bank of

Canada's treasury portfolio analytics.

. Key contributor in developing the bank's Basel III liquidity impact

analysis and its presentation to the Board.

. Under the direction of the Treasurer of the bank in the Corporate

Treasury Group key contributor for strategically managing the bank's

investment and non-investment portfolio, with key aspects of liquidity,

funding and capital.

. Responsible for developing country rankings as well as ranking of bank

and non-bank financial institutions within countries and geographical

jurisdiction creating a heat-map for the bank's current and target

optimized portfolio.

. Key participant in proposals to invest in highly liquid fixed income

products, given the Treasury's unique functioning as a profit and cost

centre.

Bank of Montreal - Toronto, Canada

Manager - Liquidity and Funding - Treasury

2006 - 2009

. Under the direction of the Treasurer of Bank of Montreal in the Corporate

Treasury Group key player for strategically managing the Bank's

Liquidity, Funding and Capital. This includes the development and

execution of the Bank's liquidity programs and capital market funding

programs ($15 - $20B annually), ensuring the Bank retains access to

diversified sources of cost-effective funding internationally during the

Financial Crisis. Funding sources range from Senior Notes to Covered

Bonds spreading across North America, Europe and Asia.

. Responsible for developing the Bank's liquidity contingency planning and

execution throughout the Lines of Businesses. Regularly report to Balance

Sheet Management Committee, Risk Management Committee and Senior

Executives the Bank's global liquidity position and contingency plans.

. Key participant in arranging funding of $30B for the Bank, exceeding any

other full fiscal years previously. These include two record deals in the

bank's 191 year history. Major deal specific investment bank partners

include Goldman Sachs (New York/Chicago), JP Morgan (New York), Morgan

Stanley (New York), Merrill Lynch (New York/Toronto), HSBC (New

York/London/Tokyo), Societe Generale (New York/Paris), Barclays Capital

(New York/London), UniCredit (Munich) etc.

. Key player in developing the Bank's Capital Allocation methodology and

recommend the Bank's three year capital plan. Recommend dividend

increases and share repurchases programs to the Board. Provide advice and

recommendations on the capital impacts of line of business and Bank

initiatives, acting as a key capital resource for new ventures/lines of

business, out-sourcing plans, divestitures and strategic

alliances/acquisitions.

. Recommend capital management strategies and capital allocation practices

with a strong focus on efficiency and effectiveness to enhance

shareholder value.

. Major member of a select group of partners including Senior Bank

Executives, Group Executives and Corporate colleagues to develop and

execute the Bank's Liquidity and Funding Plan.

Canadian Imperial Bank of Commerce - Toronto, Canada

Manager - Trading and Credit Risk Management

2004 - 2006

. Responsible for credit risk management of US$42 billion credit facility

for a portfolio of debt securities, commercial paper and convertible

debentures for 220 US, European and Canadian entities.

. Developed concentration limits by countries and industries.

. Forecasted Delphi's bankruptcy and avoided huge losses for the bank,

requiring to liquidate the bank's positions.

. Manage and maintain the credit risk profile of CIBC's portfolio covering

six industries and asset-backed securities including the lead underwriter

and syndicate deals of CMBS, RMBS, credit cards and auto-loans backed

securities.

. Performed detailed credit analysis and due diligence for new credit lines

requested by various trading desks.

. Key player in a team environment to develop and present to Senior CIBC

Executives - including SVP Credit Risk Management in New York - with

credit risk management solutions including the structured credit

products.

Procter & Gamble - Budapest, Hungary

Financial Analyst, M&A Manager 2002 - 2004

. Increased profit of Procter & Gamble CES (Central Europe South: Hungary,

Croatia, Slovenia, Czech Republic and Slovakia) by more than 18% or US$11

million from Fiscal Year 2002/2003 to Fiscal Year 2003/2004 by

coordinating a team of Marketing, Sales and Finance colleagues.

. Responsible for the P/L of Procter & Gamble CES reporting to Finance

Director P&G CEMEA (Central Europe, Middle East & Africa) located in

Budapest. (P&G CES is subordinated to P&G CEMEA. The latter is

subordinated to P&G International Operations headquartered in Geneva,

Switzerland.)

. Financial Advisory role to P&G International Operations headquartered in

Geneva, Switzerland. Recommended line of business extensions for CEMEA

based on positive experience based on NPV of projects in CES.

Major contributor for the success of Wella entity integration into P&G

CES.

Harvard University - Cambridge/Boston, USA

2001 - 2002 Research Assistant, Department of Economics

. Research Assistant for Professor Laurent Calvet, Harvard University,

Department of Economics

. Research topic: Empirical analysis of the effect of financial innovation

on risk management and asset prices. Discussed project details with

Professor Peter Tufano, Harvard Business School, Chair of Finance

Department and Professor Robert Merton, Harvard Business School, Nobel

Prize Laureate in Economics in 1997.

ABN AMRO Bank (worked while continuing studies)

1998 - 2001 Treasury Analyst, Market and Credit Risk Manager

. Hong Kong: Head Research Project for the Chief Market Risk Manager and

the Treasurer. Research Project in two parts: a) statistical evidence of

Hong Kong country risk premium in offshore market, b) analysis of the

volatility of credit spreads for bonds issued in Hong Kong dollars by non-

government and government entities.

. Amsterdam: Executed interest rate derivatives structuring and pricing for

Treasury Department. Utilized Value at Risk models in the Market and

Credit Risk Management Departments.

. Rotterdam: Analyzed Foreign Exchange trading in the Treasury Department.

Traded Euro/Dollar in the Spot market. Implemented Value at Risk models

for the Market Risk Management Department.

. Budapest: Analyst for the Treasury and Market Risk Management

Departments. Worked for the Corporate Relationship Management focusing on

Fortune 500 companies operating in Central Europe. Assessed cash flow

requirements and performed credit analysis.

Academic Achievements

Master of Sciences in Business Administration - Budapest University of

Economic Sciences 2000 - 2002

Bachelor's Degree - Budapest University of Economic Sciences 1997 - 2000

Major - International Economics / Minor - Finance

Professional Development

Training: ( Bloomberg, Reuters, Moody's KMV, Crystal, Foxpro (

Statistical Simulations, Basel I, II and III

( Access, SQL Analyzer, Excel, Word, PowerPoint ( Value-

at-Risk Modeling, QRM

Other Skills: ( Technical analysis of liquid markets: FX, Bonds,

Commodities, Stocks, CDS spreads etc.

( Developed own proprietary forecasting model. Proven track

record of identifying high probability trade and investment

setups by analyzing charts. Experience with and without the

proprietary model.

( Languages: English, Hungarian, Romanian, (

Quick to learn, confident,

French, German, Russian reliable

and self-motivated

Tel: +44-78-797-*****

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