The First Marblehead Corporation

Management Team

First Marblehead's executive management team brings decades of education loan processing and financing experience to the firm's leadership.

Jack L. Kopnisky

Chief Executive Officer, Chief Operating Officer and President

Jack L. Kopnisky joined First Marblehead as President and Chief Operating Officer on September 6, 2005 and began serving as our Chief Executive Officer on September 27, 2005. Prior to joining First Marblehead, Mr. Kopnisky served as the President of the Consumer Banking Group at KeyCorp, a financial services firm, where he was responsible for Retail Banking, Business Banking, Consumer Finance and Community Development from June 2000 until August 2005. During these years Mr. Kopnisky served as Chief Executive Officer and President of KeyBank's USA Consumer Finance Business which included Auto, Student, Mortgage, Recreational and Home Equity Lending. Mr. Kopnisky earned a B.A. in Economics and Business Administration from Grove City College. Mr. Kopnisky is a graduate of the Stonier School of Banking at the University of Delaware and has also completed the executive management program at the Weatherhead School of Management at Case Western Reserve University.

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Peter B. Tarr

Chairman of the Board of Directors

Peter B. Tarr joined First Marblehead as General Counsel in July 2005. In August 2005, he was elected Vice Chairman of the Board of Directors and in October 2005 was elected Chairman . From 1986 to June 2005, Mr. Tarr was a Senior Partner in the corporate law department and a member of the Executive Committee at the law firm of Wilmer Cutler Pickering Hale and Dorr LLP. Mr. Tarr's practice focused on advising boards of directors on corporate governance, strategic transactions and public offerings of securities. Mr. Tarr received a B.A. from Yale College, an M.A. from Yale Divinity School and a J.D. from the University of Virginia School of Law.

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William Baumer

Executive Vice President, Chief Risk Officer

Mr. Baumer joined First Marblehead as Senior Vice President, Compliance in July 2004 from Bank of America, where he was the Compliance Manager for their nationwide mortgage operations. Prior to its acquisition by Bank of America, Mr. Baumer was the Compliance Director- Core Banking for Fleet Boston Financial Corporation and was responsible for regulatory compliance programs in Fleet's consumer, commercial, and administrative staff units. He joined Fleet in 1984 and held various leadership positions in Compliance, Audit, Credit, and Retail Banking business units. Mr. Baumer earned his B.S. from Franklin Pierce College. He is a Certified Regulatory Compliance Manager, Certified Internal Auditor, and Certified Anti-Money Laundering Specialist.

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Anne Bowen

Executive Vice President, Chief Administrative Officer

Prior to joining First Marblehead, Ms. Bowen was a Senior Vice President for State Street Corporation responsible for international bank integration. She also held positions within State Street as SVP eBusiness and SVP Global Financial Technical Services. Prior to that she was a Director with Coopers & Lybrand Consulting, Inc. specializing in the Banking Practice and with Bank of Boston managing the Corporate Credit, Real Estate and Corporate Audit functions. Ms Bowen is a graduate of Boston University with an MBA from Simmons.

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John A. Hupalo

Senior Executive Vice President and Chief Financial Officer

John A. Hupalo has served as our Senior Executive Vice President and Chief Financial Officer since November 2006. Prior to assuming this role, Mr. Hupalo served as Executive Vice President and Group Head, Capital Markets from March 2003 to November 2006. Prior to joining First Marblehead, from March 1999 to March 2003, Mr. Hupalo served as a Managing Director in the Education Loan Group of UBS Paine Webber, a diversified financial institution. From 1991 to 1999, Mr. Hupalo served as a Director in the Education Loan Group of Salomon Smith Barney, an investment bank. From 1987 to 1991, Mr. Hupalo served in a similar Group at Manufacturers Hanover Securities Corporation. Prior to entering the field of investment banking, Mr. Hupalo worked for a Member of the U.S. Congress and the National Association of Manufacturers. Mr. Hupalo received a B.A. in Political Science from Boston University and an M.B.A. in Finance from New York University's Stern School of Business.

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Kenneth S. Klipper

Senior Vice President, Treasurer and Chief Accounting Officer

Mr. Klipper was appointed Treasurer and Chief Accounting Officer of the Corporation in November 2006 and prior to that he served as Senior Vice President, Finance since March 2005. From January 2003 to March 2005, Mr. Klipper served as the Chief Executive Officer of BrownCo., an online brokerage firm at the time owned by JPMorgan. From May 2002 to January 2003, Mr. Klipper served as the Chief Financial Officer of Park Street Capital, a private equity firm. From January 2000 to April 2002, Mr. Klipper served as the Chief Financial Officer of Tucker Anthony Sutro, Inc., a publicly traded securities brokerage firm. Prior to joining Tucker Anthony, Mr. Klipper served for five years as both the Chief Financial Officer and Controller for the securities brokerage unit of Fidelity Investments, and he held positions with KPMG LLP, a registered public accounting firm, for eleven years. Mr. Klipper received a B.S. degree from the University of Richmond and is a Certified Public Accountant.

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Greg D. Johnson

Executive Vice President, Chief Marketing Officer

Greg Johnson joined First Marblehead as Executive Vice President, Chief Marketing Officer in January 2007 from Arnold Worldwide where he was an executive vice president and director of Arnold One. Prior to Arnold, he was a founder and managing principal of a management consulting firm, Epoch Strategy, and a principal at DiaLogos. He also spent several years in leadership positions with the company now known as Digitas. He began his career in research and analytics with Epsilon and the Gillette Company. Mr. Johnson is a graduate of Babson College.

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Richard E. Ross

Executive Vice President, Chief Information Officer

Richard E. Ross joined First Marblehead as Executive Vice President, Chief Information Officer on November 6, 2006. Responsible for all Information Technology strategy and functions for First Marblehead Mr Ross relies on more than three decades of senior-level experience in IT planning, development, deployment and operations. Prior to joining First Marblehead, Mr. Ross served as Senior Vice President and Senior Director of Operations Information Services for State Street Corporation where he spent more than twenty one years in technology positions. Earlier in his career, Mr. Ross held senior-level positions in application development, deployment and operations with Raytheon Corporation and Liberty Mutual Insurance Company.

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Stein I. Skaane

Executive Vice President, Product Strategy

Stein Skaane has served as Executive Vice President, Product Strategy since June 2005. In his five years with First Marblehead, Mr. Skaane has played key roles in the capital markets and finance groups. Prior to joining First Marblehead, he was with State Street Corporation serving in their structured finance group and managing their student loan effort. While at State Street, he acted in various capacities for First Marblehead, including as an underwriter on numerous securitizations and as an adviser on the strategic relationship between First Marblehead and TERI. A native of Norway, Mr. Skaane is a graduate of the University of Wyoming and is a Chartered Financial Analyst. In Norway he was a member of the Norwegian National Alpine Ski Team and served in the Army's Special Forces Mountain Division.

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