D A V I D J. F O X H O V E N

***** **** ********* ***** ******, Colorado 80134 abq0fy@r.postjobfree.com

Cell Phone: 720-***-**** Evening Phone: 303-***-****

SUMMARY

Over 20 years experience in the financial services industry.

Fifteen years diverse and progressive experience with one of the largest Mutual Fund companies in the country that had (at peak) over 270 billion

dollars of assets under management. Proven ability to adapt and advance, leading to current role as Senior Vice President over operations and part

of senior leadership team within the organization.

Six years experience at the worlds largest financial / investment management firms.

Strong technology acumen. Partner with the CTO/CIO to organize and direct the initiatives and resources to ensure alignment with corporate and business

unit strategic direction. Developed partnership model between business and technology that was used as a template for the implementation of an Agile

development model across the organization.

Diverse financial services industry background and knowledge. Field virtually any question within the brokerage and mutual fund space; able to handle

questions about legal matters including ISDA/derivative transactions, board of directors issues, compliance, brokerage, transfer agent, investment

operations, fund accounting & administration and service providers (custodian, pricing, brokers, etc.).

Viewed as outstanding organization builder dedicated to team building, empowerment and goal-oriented results with exceptional service to our internal and

external customers. Able to identify with customers and provide results. Respected leader who creates positive morale, common visions, and future

leaders. Detailed, hands on management approach (as needed); able to quickly learn the details in order to gain respect as well as to manage and lead

more effectively.

Demonstrated ability to contain and/or reduce costs via vendor cost negotiations, systems enhancements, process improvements and/or procedural

changes. Most recent budget was 1/3 the cost of bid from outsource vendors leading to current lift -out opportunity.

Proven competency in assessing need for, designing and implementing solutions whether those solutions are system enhancements or other alternatives.

Extensive experience & knowledge in IT design and development, process re-engineering & industry best practices.

Driven to provide enterprise wide solutions. Initiated efforts to build Enterprise Data Management system through GoldenSource application. Consolidated

duplicative efforts to support multiple business lines into an overarching model that was capable of servicing various investment product lines while

leveraging human capital and systems technology.

EXPERIENCE

Brown Brothers Harriman, Centennial, Colorado (September 2010 – Present)

Senior Vice President, Head of Operations for the Denver office

Most senior executive that moved from OppenheimerFunds to Brown Brothers Harriman (BBH) through a Corporate Lift-out of the approximately 200 employees

(approx. 250 at peak) handling Fund Accounting, Fund Administration, Fund Operations, Investment Tax and the supporting technology support teams. My role

is virtually the same as before the liftout as the department handles the same functions and support for the same clients. Over time, the new BBH Denver office

will be tasked with providing the same services to various other clients. Took on additional tasks of assisting in the design of the systems architecture and

service environment for the new Denver location.

OppenheimerFunds, Inc., Englewood, Colorado (1996 – 2010)

Senior Vice President (Jan 2008 – September 2010)

Oversee of the Fund Accounting and Administration, Investment / Fund Operations and Monetary Control departments within OppenheimerFunds, Inc. The

departments handle the primary operational support including fund accounting and the middle & back office functions for the retail mutual funds, the

Oppenheimer Trust Company products, Institutional Separate Account and Sub-Advisory businesses.

Client Service/ Work with President, CEO, CFO, Treasurer, Portfolio Managers, etc. to ensure client needs are being met. Identify and resolve

Relationship client pain points related to services being provided by department.

Management: Manage relationships with internal business partners, custodian banks, brokers, futures clearing firms and service vendors

including the ultimate resolution of issues, critical items, fee negotiations and legal negotiations.

Oversee underlying services to investor services through transfer agent teams and sub-advised relationships.

Strategic Planning: Member of new product review committee that reviews all pending business for Sub-advised and Institutional Separate

Accounts to ensure that from a cost benefit, reputational and operational perspective, it is desirable to pursue a mandate.

Created Derivative team to review all ISDA and long form confirmation transactions for credit derivative transactions. Created

collateral system between the funds and the various counterparties. Team negotiates ISDA master documents with brokers as

well as handling all settlement of OTC derivative transactions.

Cost Savings & Implemented securities lending program that is capable of producing in excess of $100 million in annual earnings for the funds

Revenue Generation: that participate in the program.

In-sourced the cash collateral management through a new 2a7 like product that lending agents have agreed to put on their

lending platform as a potential alternative for other customers that do not want to manage their own cash collateral. Projected

assets in 12 months of over 8 billion, producing 8 million in revenue to the manager.

Managed custodian changes and fee negotiations. Current savings in excess of $50 million annually.

Reduced overdraft charges from $350,000 per month to under $50,000 per month by improving cash projection numbers for

Portfolio Managers use. Negotiated a rolling balance program with the funds’ custodian banks that has increased the

application rate of credit balances against prior debits from 46% to 100%.

Designed and implemented a series of cash management improvements including an end of day Repo Reallocation system

that reallocates repurchase agreements from funds that would have otherwise ended in an overdraft to different funds that

would have otherwise left a credit balance uninvested.

Developed and implemented a foreign exchange execution program that has saved $14 million annually.

Treasury Services: Responsible for ensuring best execution on Foreign Exchange transactions.

Implemented various cash management strategies to reduce overdraft charges and overdraft occurrences. This included a

rolling balance program through the custodian banks, an end of day REPO reallocation, offshore sweep activity and investment

of excess cash into an internal money market product.

Implemented overdraft reporting to be able to track the root cause of the overdrafts so that we could address appropriately.

Review and approve custody fee payments by the funds.

Oversee securities lending program to ensure compliance rules are not broken as well as income & collateral management

operations and performance.

Risk Management: Member of the Risk Management Committees that review potential risks to corporate assets and profitability including

investments of OFI in the funds through seed and diversification money. Also includes hedging activity to stabilize the gains

and loses from investments in the funds.

Member of the aged receivables review committee that reviews outstanding receivables over 30 days old to ensure that it is

appropriate to carry the receivable at current value. Developed accounting policy for write-off or write-down’s as necessary.

Includes a review of aged payables, future dated trades, tax reclaims and defaults.

Member of the counterparty risk review committee that reviews counterparty exposure to ensure that we are comfortable with

the current credit risk exposure to the various counterparties. In addition, committee sets thresholds by broker and reviews

credit analysis reports on various brokers.

Enterprise Solutions: Initiated and implemented data management solution to ensure consistent and accurate data across various applications and

systems across the firm. Negotiated contract with GoldenSource to provide data warehouse to support the effort as well as

negotiating various contract with data providers like Moody’s, Bloomberg and S&P.

Consolidated servicing within my teams and departments to support Retail, Institutional Separate Accounts, Sub-advised, 529

and various other products that would allow us to capitalize upon expertise within the firm while at the same time, reducing

costs and increasing service.

Renegotiated rates and consolidated oversight of banking arrangements across divisions encompassing, corporate, transfer

agent, custody, operations, etc.

Vice President; Fund Accounting, Operations and Control / Investment Operations

(May 2004 - Dec 2007)

Daily oversight of the fund accounting department and the employees that makes up the department. The department is responsible for producing an accurate

and timely Net Asset Value (NAV) for the various retail products, institutional accounts, offshore, multi-manager and multi-class funds and trust company

products on a daily basis. Includes shadow accounting for sub-advised funds and institutional separate accounts that are a clone of one of the mutual funds that

we manage. Account for a wide range of fund types including money market funds, basic bond and equity funds, complex multi-manager, multi-class and multi-

currency funds. Department handles full cash and share accounting for large, complex portfolios that involve various mixes of securities. In addition to equiti es

and fixed income assets, provide accounting services for a full range of private assets, derivatives, cash and foreign exchange instruments. In addition, produce

various reports for the Board of Directors. Direct administration of all departments that reported into me as an AVP plus assumed responsibilities for Alternative

Products, Income Analysis, Expense Analysis, Data Management, Securities Valuation, Securities Analysis, Corporate Actions, Monetary Control (Shareholder

Accounting, Bank Reconciliation, Check Draft, Manual Check Team, Wire Desk & Wire Order Reconciliation).

Assistant Vice President; Fund Accounting and Administration / Investment Operations

(September 1998 – May 2004)

Reorganized fund accounting into functional groups with each group handling specific activity. The functional approach divides activity into functional aspects to

ensure that one person is handling the same issue across all funds and products. Ensured rotation program was in place to allow staff to see all pieces and

functional groups so that they understand how the pieces of the fund fit together. Direct oversight of the trade processing, trade settlements, reconciliations, cash

projection, sub-advised support, OTC derivatives and banking/broker relationship departments.

Manager, Banking Operations (July 1996 – September 1998)

Directed settlements of all security trades across all products and asset types including futures, options, currency, derivatives, syndicated bank loans and both

domestic and foreign equity as well as fixed income. Implemented trade transmission system that allows trade settlements to be systemically matched to a

confirmation before being electronically transmitted to the custodian bank. Oversaw custody relationships. Authorize payme nt of invoices and claims against

Oppenheimer as a result of trade fails. Collect on claims against various brokers and banks as a result of trade fails. Assist Portfolio Managers with resolution of

trade discrepancies.

Merrill Lynch Pierce Fenner & Smith, Lakewood, Colorado

Branch Service Representative (March 1991 – July 1996)

Assisted financial advisors in the field with specific questions on customer accounts, including Employee Stock Options, margin lending, DVP/RVP trading

(included wrap & separate account activity), retirement plans, cash deposit and checking accounts with visa debit privileges, and corporate action entitlements.

Developed hypothetical trade analysis excel workbook that allowed for automated margin calculations.

EDUCATION

Masters of Business Administration Bachelor of Science in Comprehensive Business Administration

Emphasis in Finance and Accounting Minors: Mathematics, Finance and Economics

Regis University University of Nebraska, Kearney

Denver, Colorado Kearney, Nebraska

Graduated with highest honors (GPA 4.0): August 2008 Graduated: May 1990

EXTERNAL ACTIVITIES & COMMUNITY INVOLVEMENT

Adjunct Professor Parish Finance Committee Member

Colorado State University Global Campus (Fort Collins, CO) Capital Campaign Steering Committee Member

(September 2008 – Current) Ave Maria Catholic Church

Teach courses on Organizational Leadership, Management Philosophy, 9056 E. Parker Road

Accounting and Finance Parker, CO

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President, School Advisory Committee (School Board) Baseball Coach – Kinderball, 3 & 5th Grades

Committee Member, School Finance Committee Parker Recreation Center Youth Sport League

Ave Maria Catholic School Parker, CO

9056 E. Parker Road

Parker, CO Volunteer

Boys & Girl Scouts of America

Troop 1478

Parker, CO

REFERENCES AVAILABLE AFTER ESTABLISHMENT OF MUTUAL INTEREST

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