Holland Capital Management Professionals


	Monica L. Walker, CPA *President and Chief Investment Officer - Equity* Monica L. Walker is President of Holland Capital Management and Chief Investment Officer of the equity group, and is President of The Lou Holland Trust. A founding partner of Holland Capital, Ms. Walker, who manages a team of research analysts, is responsible for the firm’s portfolio strategy and execution. Ms. Walker has 27 years of financial services
experience, including 20 years of investment management experience. She began hercareer at Texas Utilities in 1981 and earned her CPA designation while serving in various supervisory capacities in the accounting and audit departments. In early 1988, Ms. Walker became a Senior Financial Analyst and worked on the firm’s common and preferred stock issues and fixed income financings including pollution control revenue bond issues. After structuring a leveraged employee stock ownership plan, she became the manager of Trust Funds Administration where she was responsible for the company’s $1 billion pension fund and a $500 million defined contribution plan. Additionally, she was instrumental in the development and implementation of Texas Utilities’ Nuclear Decommissioning Trust Fund. Ms. Walker received a B.A. in accounting from the University of Texas at Arlington in 1980 and is a CPA licensed in Texas and Illinois. She is a Trustee of the Lou Holland Growth Fund Board of Trustees, a board member of the YWCA Metropolitan Chicago and is a member of the CFA Society of Chicago, the Illinois CPA Society, the Texas Society of CPAs, the American Institute of CPAs and the National Association of Securities Professionals (NASP).

	Laura J. Janus, CFA *Managing Director and CIO - Fixed Income* Ms. Janus is a founding partner of Holland Capital and serves as the Chief Investment Officer for Fixed Income and as the Fixed Income Portfolio Manager. Ms. Janus holds primary responsibility for fixed income research and trading for the firm. She has over 38 years experience managing taxable fixed income assets. Prior to forming the firm in 1991,
Ms. Janus was a member of the investment department at Mutual Trust Life Insurance Company and was responsible for credit research and management of a $200 million fixed income portfolio comprised of short term instruments, private placements, public bonds, and common and preferred stock. Later she was elected Treasurer, which added responsibilities in the areas of banking relationships, cash flow management, five-year projection plans and budgets. Ms. Janus holds a B.S. in accounting from Western Illinois University. She currently serves on the WIU Advisory Board for the College of Business and Technology, the President’s Advisory Board, and the WIU Foundation Board. In 2008, she was honored with the Outstanding Alumni Award from the WIU Department of Accountancy. Ms. Janus received the Chartered Financial Analyst designation and is a member of the CFA Society of Chicago and the CFA Institute.

	Catherine E. Lavery Managing Director and Chief Administrative Officer Ms. Lavery is a founding partner of Holland Capital and serves as the firm’s Chief Administrative Officer. She holds primary responsibility for business administration, employee benefits and facilities management for the firm. Ms. Lavery has 24 years experience in the investment management industry across a range of sales, trading and administrative
functional responsibilities with such companies as Merrill Lynch and Hahn Holland & Grossman. Ms. Lavery has also done specialized trading for high net worth individuals and money managers. Ms. Lavery holds a B.S. in marketing from the University of Arizona.

Susan M. Chamberlain Chief Compliance Officer Ms. Chamberlain serves as Chief Compliance Officer for Holland Capital. She is responsible for the implementation and administration of compliance policies and procedures, and for the annual review of these procedures. With 28 years experience in the investment management industry, Ms. Chamberlain holds primary responsibility for the integrity of the compliance policies and procedures of the firm, as well as the mutual fund, to which Holland Capital is the advisor. She oversees all regulatory examinations and serves as the principal liaison with our attorneys regarding such matters. Prior to joining Holland Capital, Ms. Chamberlain was Chief Operating Officer and Chief Compliance Officer at Quantlab Capital Management, Ltd., a registered investment advisor. She was previously Chief Operating Officer at Columbine Capital Services, Inc., a company providing independent, quantitative research to the institutional investment community. There, Ms. Chamberlain was responsible for the ongoing legal, administrative and business operations of the firm. She holds an M.B.A. from the University of Denver and a B.A. from the University of Texas.

	Valerie King Director of Marketing Ms. King is primarily responsible for the marketing of Holland Capital’s investment services on a national basis, with a focus on public plan sponsors. She has 15 years investment experience. Prior to joining Holland Capital in 2001, Ms. King served as Vice President of Investment Services and the Fixed Income Marketing Manager at T. Rowe Price
Associates in the retail division, primarily responsible for defining, developing, and managing tactical and strategic marketing communications programs for the conservative mutual fund investor. Additional responsibilities included serving as the product knowledge specialist and business liaison for the affiliated T. Rowe Price Savings Bank. Ms. King’s past professional experience also includes a marketing manager position with American Express in the Consumer Lending Credit Card group in New York. Ms. King holds an M.B.A. with honors from Clark Atlanta University Graduate School of Business with a marketing concentration and a B.A. in architecture from the Illinois Institute of Technology.

	Jacqueline A. O'Brien Marketing Executive Ms. O’Brien is primarily responsible for the marketing of Holland Capital’s investment services to institutional investors, with a focus on corporate pension plan sponsors, endowments and foundations. She has 18 years investment experience. Prior to joining Holland Capital in 2003 Ms. O'Brien served as Vice President and Institutional
Investment Relationship Manager within Northern Trust Global Investments, working with Foundation, Endowment, Corporate and Not-for-Profit organizations. Her responsibilities included providing consultative guidance to clients regarding investment needs, initiating and conducting regular investment reviews with clients, responding to day-to-day client inquiries and identifying new business opportunities. Ms. O’Brien holds a B.S. in finance from Marquette University.

Carl R. Bhathena *Assistant Portfolio Manager and Senior Equity Analyst (Technology, Telecom)* Mr. Bhathena is a Senior Equity Analyst responsible for fundamental research and valuation analysis within the technology and telecom sectors of the market. In his role as Assistant Portfolio Manager, Mr. Bhathena works with the portfolio manager on overall portfolio strategy and construction, and manages day-to-day and administrative portfolio management responsibilities. He joined Holland Capital in 1998 and has 15 years of industry experience. He began his career with EVEREN Securities Inc. (formerly Kemper Securities Inc.) as an associate analyst in the company’s investment strategy group. Mr. Bhathena was promoted to Vice President – Investment Strategist and performed aggregate fundamental qualitative and quantitative analysis on global financial markets, sectors, industry groups, and specific companies as well as economic and interest rate forecasting. The Wall Street Journal, Investors’ Business Daily, The British Broadcasting Company, The International Herald, and the Chicago Tribune have carried Mr. Bhathena’s views. He has appeared as a guest on CNN, CNN-FN and CLTV’s Making Money. Mr. Bhathena holds a M.B.A. with honors from the University of Hartford’s Beatrice Auerbach School with an investment finance concentration, and earned a B.A. in economics from Baldwin-Wallace College.

Kevin J. Burke Senior Equity Trader Mr. Burke is a Senior Equity Trader whose primary responsibilities include the day-to-day trading operations for the firm’s equity assets. He has 24 years investment experience in trading equities on both the buy and sell sides. Prior to joining Holland Capital in 2006, he held positions responsible for portfolio execution and operations with Claremont Investment Partners, Capital Institutional Services, Kemper Securities and Oppenheimer & Co. Mr. Burke holds a B.S. in marketing from Marquette University.

Janet Henry, CFA *Senior Fixed Income Analyst* Ms. Henry is a Senior Fixed Income Analyst whose primary responsibilities at Holland Capital include the fundamental research and valuation analysis of fixed income. Prior to joining Holland Capital in 2000, Ms. Henry was a founding partner with Heartland Training Group, a Commodity Trading Advisor. Her 29 years in the investment management industry have also taken her to Aon Corporation, where she was a Senior Portfolio Manager in the asset management division. There, Ms. Henry researched and managed $2 billion of domestic corporate bonds and structured mortgage-backed securities in Aon’s fixed income portfolios. She earned her M.B.A. from the University of Chicago and a B.A. in history from DePauw University. Ms. Henry received the Chartered Financial Analyst designation in 1989. Ms. Henry is a member of the CFA Society of Chicago, the CFA Institute and the University of Chicago Women’s Business Group.

Stuart McDermott, CFA *Senior Equity Analyst (Financial Services, Consumer Staples)* Mr. McDermott is a Senior Equity Analyst responsible for fundamental research and valuation analysis within the financial services and consumer staples sectors and has 10 years investment experience. Prior to joining Holland Capital in 2001, he served as an Equity Research Analyst at Lincoln Capital Management, covering the retail, media, and advertising sectors of the market. Previously, Mr. McDermott was a practicing attorney, representing indigent individuals at the New York Legal Aid Society, Criminal Division. His primary responsibility was representing clients through all phases of their cases – arraignment to trial. Mr. McDermott holds a J.D. Degree from Cornell Law School. He also earned a M.B.A. with honors and concentration in finance and strategic management and a B.A. in philosophy, both from the University of Chicago. Mr. McDermott received the Chartered Financial Analyst designation in 2002, is a member of the CFA Society of Chicago and the CFA Institute.

Andrew M. Topps, CFA, CPA *Equity Analyst (Consumer Discretionary, Producer Durables)* Mr. Topps is an Equity Analyst responsible for fundamental research and valuation analysis within the consumer discretionary and producer durables sectors. He has 10 years of industry experience. Prior to joining Holland Capital in 2006, Mr. Topps was an Equity Analyst at Vestor Capital and an Associate with Citigroup in the sell-side mergers and acquisitions division. Mr. Topps earned a B.S. in accounting and economics from St. Louis University. In addition to passing the CPA exam in 1994, Mr. Topps received the Chartered Financial Analyst designation in 1998, is a member of the CFA Society of Chicago and the CFA Institute.

Thomas Van Vuren, CFA *Senior Equity Analyst (Health Care, Autos & Transportation)* Mr. Van Vuren is a Senior Equity Analyst responsible for fundamental research and valuation analysis within the health care and autos and transportation sectors. He has 10 years investment experience. Prior to joining Holland Capital in 2001, he worked as an equity trader/research assistant at Gannett Welsh & Kotler Investment Management, investing all of the firm’s equity accounts as well as managing various portfolio analysis projects. In addition, Mr. Van Vuren researched new investment ideas for the firm’s equity portfolio managers. As a clerk for the Telluride Group at the Chicago Mercantile Exchange, he worked in the brokerage unit within the Eurodollar options pit at the Chicago Mercantile Exchange. Mr. Van Vuren earned a B.A. in philosophy from Colgate University. He received the Chartered Financial Analyst designation in 2002, is a member of the CFA Society of Chicago and the CFA Institute.

Nicholas M. Zimmerman, CFA *Equity Analyst (Energy, Materials & Processing, Utilities)* Mr. Zimmerman is an Equity Analyst responsible for fundamental research and valuation analysis within the energy, materials and processing and utilities sectors. Mr. Zimmerman joined the team in 2004 following an internship with Holland Capital and has five years of experience in investment management. While working toward his M.S., he participated in the Applied Security Analysis Program and co-managed $1.2 million in equities. Mr. Zimmerman earned an M.S. in finance from the University of Wisconsin-Madison and a B.S. in finance from the University of Illinois Urbana-Champaign. Mr. Zimmerman received his Chartered Financial Analyst designation in 2007, is a member of the CFA Society of Chicago and the CFA Institute.

	Louis A. Holland *Retired Founder* Louis A. Holland is a founding partner of Holland Capital and has more than 39 years of experience in the investment management industry. Prior to founding Holland Capital in 1991, Mr. Holland gained early business management experience at Commonwealth Edison after playing professional football with both the CFL and NFL. His investment experience was
augmented by 15 years at A.G. Becker Paribas Inc., where he served as a Vice President specializing in asset and portfolio management for corporations, endowments, foundations, public funds, Taft/Hartley, and high net worth individuals. In 1983, he formed his prior firm, Hahn Holland & Grossman. Mr. Holland earned a B.S. in economics from the University of Wisconsin and attended Loyola University Chicago Graduate School of Business. In 1990, the University of Wisconsin Alumni Association presented him with the Distinguished Alumni Award. More recently, the National Association of Securities Professionals honored Mr. Holland with the 2004 Maynard Jackson Entrepreneur of the Year Award. He was a special guest and 20-year veteran panelist on Wall $treet Week with Louis Rukeyser and Rukeyser’s Wall $treet. Mr. Holland’s additional media exposure includes guest appearances on the Financial News Network, CNN’s Moneyline, CNBC and the Chicago Tonight show.

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