Y. Oguzhan Aloğlu is capital markets professional with auditing experience in banking worked on IT management and international relations. He has a master’s degree in Marmara University on financial markets and investment management and studying Phd. on Banking in Marmara University. He has honor degree in business administration at Faculty of Political Science. He has started his career working in Bank Ekspres as assistant auditor in internal auditing service and in Vakifbank as Auditor and responsible for IT audit. He also worked as Manager in Vakifbank on international banking and investor relations. Since 2007 he has been working for Istanbul Gold Exchange as Senior Vice President responsible for Gold&Silver Market, Diamond&Precious Stones Market, Financial Affairs and International Relations.

David joined Standard Chartered in November 2008 as a commodity strategist, focusing on metals David received a BSc in Business Administration from the University of Bath and joined Lehman Brothers in equity sales and trading as part of the capital markets graduate programme. He then moved into metals research, covering uranium and steel, before joining Standard Chartered as a commodities strategist in November 2008.

Nicholas is head of research and investment strategy for the ETF Securities group of companies. Nicholas has over 15 years experience as a global economist and strategist, covering a wide range of markets and asset classes. Prior to joining ETF Securities, Nicholas was a senior member of Henderson Global Investors asset allocation and strategy team based in London. Before that he was senior economist on Deutsche Bank’s top ranked Global Markets strategy and economics team. He started his career at Citibank in New York. Nicholas has a B.A. from Brown University, an M.A. from Columbia University, an MSc in Economics from the University of London, and has completed work on a PhD thesis examining financial fragility and the dynamics of financial crisis.

Mr. Fung Lim, Peter is Responsibility Officer of Wing Fung Financial Group Limited since August 2007. Mr. Fung is also the head of Wing Fung’s Dealing Department and has more than 20 year’s experience in the areas of precious metals operation, trading of spot, forwarding precious metals and handling the physical distribution. He is currently a supervisor committee member of the Chinese Gold & Silver Exchange Society.

Frank Holmes is CEO and Chief Investment Officer of U.S. Global Investors, Inc., a registered investment adviser managing 13 no-load mutual funds specializing in natural resources, emerging markets and global infrastructure. The company’s funds have received numerous awards and honors during Mr. Holmes’ tenure, including more than two dozen Lipper Fund Awards and certificates. Mr. Holmes was selected as the 2006 mining fund manager of the year by Mining Journal, a leading publication for the global natural resources industry. He is also the co-author of “The Goldwatcher: Demystifying Gold Investing.” He is engaged in a number of international philanthropies. He is a member of the President’s Circle and on the investment committee of International Crisis Group, which works to resolve conflict around the world. He is also an advisor to the William J. Clinton Foundation on sustainable development in countries with resource-based economies. Before purchasing a controlling interest in U.S. Global Investors in 1989, Mr. Holmes worked as a research analyst, portfolio manager and managing director of corporate finance with a Canadian firm. He is a former president and chairman of the Toronto Society of the Investment Dealers Association, and he has served on the Toronto Stock Exchange’s Listing Committee. Mr. Holmes is a much-sought-after keynote speaker at national and international investment conferences. He is also a regular commentator on the financial television networks CNBC and Bloomberg, and has been profiled by Fortune, Barron’s, The Financial Times and other publications.

He is the Promoter and Managing Director of Chemmanur Gold Refinery P. Ltd., Cochin, India, operational since 1997 as precious metals Mint and bullion manufacturers. This is also the 1st gold assay and hallmarking centre in India, and is recognised by the Bureau of Indian standards and NABL and accredited as per ISO 9001 : 2000 and ISO 17025 : 2005. He is also the promoter and managing director of 8 gold hallmarking centres in the various cities of south India. He is a member of the MTD 10 committee on precious metals, which is the gold standards technical commitee for Government of India. He is the founder secretary of ‘Association of Gold Refinery and Mints’, a registered body of the gold refiners in India, also the founder secretary of Indian Association of Hallmarking centres, the all India body of the Govt. recognized Hallmarking centres in India. He is also the President of the Ernakulam District Gold Merchants Association, (this place incidentally has the highest per capita consumption of gold, at 4 gms per person, per annum).

Richard Kang has served as our Chief Investment Officer and Director of Research since September 1, 2008. He has been active in both institutional and individual asset/risk management for over thirteen years with extensive experience in alternative asset classes, especially hedge funds and managed futures, as well as strategies applying the use of passively managed instruments. Mr. Kang began his career in 1995 at Guardian Timing Services, a Toronto based hedge fund, spending over six years with such boutique investment firm whose services for institutional investors focused on: 1) tactical asset allocation strategies using index derivatives, 2) Long-short US equity programs, and 3) Structured products with underlying hedge fund strategies. Many of these strategies employed the use of the earliest ETFs. In 2001, Mr. Kang was hired to build and manage the investment management subsidiary for Affinity Financial Group, a private wealth management firm. In late 2002, Mr. Kang co-founded Meridian Global Investors (“Meridian”), an investment counseling firm managing globally diversified portfolios including both traditional and alternative asset classes primarily through the use of passive instruments. For private investors, mandates were global long-only asset allocation mandates with option overlays. For institutional investors (multi-strategy hedge funds and FOFs), mandates were primarily short-only "beta filtering" overlay programs to offset unwanted market risk/exposures but also to advise on areas of new or alternative beta exposures to consider based on statistical analysis. In addition to running Meridian, in the summer of 2003, Mr. Kang was retained by a Toronto based start up fund-of-hedge-funds, Quadrexx Asset Management, for two years to oversee its operations in the role of Chief Investment Officer. Having departed from Meridian at the end of 2006, Mr. Kang then focused on work outside of Canada, consulting for various asset allocators as well as fund managers in the areas of hedge funds and ETFs. From the fall of 2007 to the fall of 2008, Mr. Kang helped start up and was the first CIO of ETFx Indexes LLC, a boutique index provider focused on alternative investments (alternative asset classes, alternative indexing methodologies, alternative themes and strategies). Mr. Kang is frequently engaged as a speaker on a broad array of topics ranging from instrument types (ETFs, hedge funds, derivatives), portfolio management (strategies involving asset allocation, use of alternative investments, Emerging Markets) as well as risk measurement/management. He has been quoted in a number of publications including The Wall Street Journal, Reuters, Investors Business Daily, SmartMoney, CBS MarketWatch and BusinessWeek. In addition to business television appearances and writing articles for various industry publications and journ als, Mr. Kang has served as a chairman, moderator, panelist and advisory board member at numerous industry conferences in the United States, Canada, and Europe as well as more recently in the Mideast and Far East Asian regions.

Sunil is responsible for managing The Bank of Nova’s Scotia’s precious metals and foreign exchange business in Asia covering operations in Hong Kong, Singapore, China, India and Dubai. After eight years with Citibank, India and Standard Chartered Bank, Dubai, he joined Mocatta Bullion in 1996 which was taken over by The Bank of Nova Scotia in 1997. Sunil has been instrumental in setting up the Bank’s bullion business in several Asian countries and has been closely involved with the liberalization process of the Indian, Chinese and Middle Eastern bullion markets. He is a member of the International Advisor’s Committee of the Shanghai Gold Exchange and sat on the inaugural Gold Committee of the Dubai Metals and Commodity Exchange. Sunil holds a Masters degree in Business Administration from Cornell University, Ithaca, New York and is an engineering graduate from IIT, New Delhi.

Gold medalist from IIM Calcutta, India’s Premier Business School, Ashok has over 27 years of rich and quality experience in managing businesses across diverse sectors like automobile, consumer electronics, telecom, lifestyle retailing & jewellery. A hard core retailer for the last 11 years, Ashok has been involved with many retail start-ups in India & overseas. As CEO of Planet Sports retail, he was responsible for setting up the retail operations of Marks & Spencer in India. Presently he is working with India’s largest private sector company, Reliance Industries, in their new retail division, heading the jewellery business. In a short span of less than 2 years, he has been able to successfully launch and establish Reliance Jewels as a leading brand in all markets wherever launched so far across India.

Mr. Shyam Kedia is a Commerce Graduate from Calcutta University. He is also a Chartered Accountant from ICAI and a Cost Accountant from ICWA. He has been involved in the Bullion Trading business for over 10 years now in various capacities. Initially involved in the business in his personal capacity and as part of the family business, he joined the Edelweiss Group in September 2007 to set up the Bullion Desk there. He has had wide exposure to both domestic and international trade in Bullion and shares a good rapport with government agencies and banks. He is a known and respected figure in the Indian Bullion market. Currently he heads the bullion desk at Edelweiss and has taken the desk to newer highs. Under his guidance, Edelweiss Bullion has becoming one of the largest organized players in the country in both the OTC and exchange traded markets.

Tom started his career as a minor metals market analyst with Roskill Consulting in London. In 1992 he moved to become a business journalist with the Metal Bulletin Plc publishing group, covering the worldwide non-metallic minerals and mining industries. He left Metal Bulletin in January 2002 and joined the precious metals marketing division of Johnson Matthey PLC, the world’s leading platinum refining and marketing company, where he was in charge of researching and writing the company’s twice-yearly Platinum market reports. In January 2006 he took on responsibility for managing JM’s world-wide market research team, undertaking detailed fundamental analysis of the platinum group metals markets. In February 2007 Tom joined the Precious Metals Division of Mitsubishi Corporation, Japan’s largest trading company, where he is responsible for market analysis, supply/demand modelling and price forecasting for gold, silver and platinum group metals. Tom holds a BSc in geology from Southampton University.

Alice is responsible for marketing and development of the precious metals business under ScotiaMocatta, the precious metal unit of The Bank of Nova Scotia. She is heading a team of 7 people covering business in Asia with major emphasis in Greater China, Japan, Korea, Thailand, Singapore and Vietnam. After working over 10 years in ScotiaMocatta, she has extensive experience in providing customers with one stop business solution incorporating structured financing, hedging and physical supply of precious metal.

Long career in the precious metals banking since 1992 with Mase Wespac, Republic National Bank of New York and HSBC Bank USA. Primary responsibility was the procurement and development of Precious Metals banking business in China. Over that period have cooperated with the Government, advised and assisted with the opening of precious metals markets in China. Regarded as one of the seminal bullion bankers in China, with a wealth of knowledge of Chinese and International precious metals markets and bullion banking practices. Joined China Minsheng Bank in 2007 and within 2 years built the banks precious metals trading business into the 3rd largest on the Shanghai Gold Exchange. China Minsheng bank is at the forefront of innovative bullion banking product developments to both the retail and corporate sectors, and is well regarded within the financial sector

Mr. Lu, born on 18 July 1961 started his career in July 1982. He is currently the Chairman and Executive Director of Zhaojin Mining, Vice Chairman of China Mining Association and Vice Chairman of China Gold Association. With 30 years of experience in the gold mining industry, Mr. Lu has made significant contributions to this sector. Under his leadership, Zhaojin Mining has developed into an all encompassing organisation - delving into trading, non ferrous mining and a developing state of the art mining technologies and processes. It is one of the top 500 enterprises in China, amongst the top 200 most promising efficient companies and is listed as one of China's top 500 most valuable brands. The company has successfully listed on the Hong Kong Stock Exchange on the 8th of December 2006 and is the province's first company to be listed. Mr. Lu himself has won numerous accolades such as the Model citizen of Shanxi province, Model Entrepreneur of Shanxi province, gold award for the China's best enterprise, one of China's top 10 most outstanding businessmen as well as the World's Manager's top CEO award.

Shayne McGuire is the Director of Global Research at Teacher Retirement System of Texas, one of the world’s largest global pension funds with $85 billion in assets. With 15 years of international financial experience, McGuire has managed a $2 billion European equity portfolio and was ranked among the best Latin American analysts by Institutional Investor in 1995 and 1996. An avid gold investor, in recent years he has worked closely with Austin Rare Coins, one of the leading precious metals companies in the United States. McGuire graduated from Fordham University and holds a Masters in History and an MBA from the University of Texas at Austin.

Mrs. Pawan Nawawattanasub is the founder and Vice President of YLG Group, a leading group of jewelry exporter, gold trading, as well as gold futures investment in Thailand. Beginning from the success of exporting gold jewelry to international market in various continents, she expanded business to gold trading with the record of the biggest gold importer/exporter in Thailand in a short time and followed by the expansion to gold futures investment respectively. With her experience in jewelry and gold industries for more than 30 years, she is also a member of director for Gold Traders Association, Thailand. Mrs. Pawan holds Bachelor and Master Degree in Public Management (Political Science), Ramkhamhaeng University.

Wallace received his MBA from the University of South Australia and has over 15 years of experience in precious metals market-making in the Asia Pacific region on OTC and involving futures, arbitrage and proprietary trading. Prior to joining Fortis, Wallace worked for SBC, Union Bank of Switzerland and UBS AG.

Jeffrey Nichols is recognized as one of the world’s top experts in the economics and finance of precious metals. As managing director of American Precious Metals Advisors (APMA), he provides expert analysis of the economics of precious metal markets and offers strategic consulting and market research services to a wide range of corporate clients. He has worked with mining companies on financing and investor relations, served as a director of two public companies, managed a mining-related mutual fund, and advised industry associations, national mints, central banks, and jewelry manufacturers.

Ghee joined UBS in July 2006 as Head of Asian Mining Research. Previously, he covered the Asian mining sector for Cazenove in Hong Kong for two years. From 1999 to 2003, he was a China analyst at Citigroup, researching various sectors. From 1997 to 1999, he covered Chinese mining stocks at ABN AMRO and participated in the Jiangxi Copper and Yanzhou Coal H-share IPOs. In 1995, Ghee worked as an Associate Analyst covering Australian mining and industrial stocks for brokerage Hartley Poynton in Perth, Australia.

Nigel was one of the original members of ETF Securities when he joined in 2006. He is now Head of Sales for Australia / New Zealand. Since joining ETF Securities, Nigel has overseen the growth of the business in both the UK and Ireland with assets growing from $200 million to over $11 billion in two years. Prior to joining ETF Securities, Nigel was a Sales Trader for Churchill Capital in London which specialised in mergers and acquisitions. Before that he worked in Operations for both Merrill Lynch and Susquehanna in Ireland. Nigel holds a BCom / Banking & Finance from the University of Canberra.

David graduated in 1989 with a degree in economics from the University of East Anglia, Norwich. He joined HSBC Midland Montagu’s as a graduate trainee in the same year and after completing a two year induction programme he worked in Treasury Sales. David began specializing in commodities and commodity-linked finance when he joined LME member CL Rouse in 1992. David has also worked at JPMorgan and Barclays Capital, before joining Standard Chartered Bank in 2005. David’s role has been to help re-establish SCB’s commodity derivatives capabilities. After an initial spell in Singapore, he is now permanently based in Hong Kong Over the course of his career, David has executed numerous commodity transactions across a broad range of underlying products. His experience includes several OTC agricultural, metals, pulp & paper, freight and energy hedging ‘firsts’, as well as structured pre-paid and Islamic financing deals and commodity-linked investor products David is a contributing editor to Risk Publications’ popular ‘Managing Metals Price Risk’ and ‘Managing Energy Price Risk’ books, and has written for a number of trade journals on the subject of commodity hedging / finance. He is a regular speaker at commodity risk seminars including those held by the London Bullion Market Association and Risk Publications

After a total of 30 years of involvement in the international precious metals market working with three major bullion banks, Jeffrey now heads up INTL Commodities DMCC, a 100% wholly owned subsidiary of International Assets Holding Corporation. Jeffrey is also the global head of Group’s precious metals activity and his career has spanned four continents and decades, He has been prominent in the development of the Dubai Multi Commodity Centre and has been a member of Dubai’s Gold Advisory Group since its inception in 2003. Jeffrey is a past chairman of the Public Affairs Committee of the London Bullion Market Association and was the founding editor of ‘The Alchemist’, its popular trade magazine.

Peter Ryan-Kane is Head of Portfolio Advisory, Asia Pacific. He is responsible for delivering investment solutions to clients. He sits on the Global Investment Committee, and chairs the regional Portfolio Construction Group. Peter rejoined Watson Wyatt in May 2009 following almost three years at Credit Suisse. At Credit Suisse Peter was a Managing Director, responsible for Product Development, Investment Solutions and Institutional Coverage for Asia Pacific. Prior to this, Peter spent two years at Watson Wyatt in Hong Kong working with clients across Asia on both Strategy and Manager Selection. He has also consulted for Towers Perrin and was responsible for research into Fixed Income, Commodities, Global Property and Capital Markets, together with general consulting work with clients. Before this, he was Head of Interest Rate Risk Management at National Australia Bank and spent nine years with INVESCO Asset Management, initially as Head of Australian Fixed Income and finally as Global Chief Investment Officer. Peter received a Bachelor of Economics Degree from the University of Adelaide (1986), qualified for the Graduate Diploma in Applied Finance and Investment from the Securities Institute of Australia (1992), and received his CFA Charter in 2001.

Mr Sinha is the chief executive officer of National Spot Exchange Ltd. (NSEL), India's first electronic spot trading platform, and part of Financial technologies group. Mr. Sinha has over 20 years experience and deep knowledge of commodity derivatives and spot markets. His previous stint was with the Ahmedabad Stock Exchange as its executive director. Prior to that, he was associated with the Bombay Commodity Exchange Ltd. as its chief executive officer wherein he was instrumental in launching futures trading in multiple commodities under web-enabled screen-based trading system. Mr. Sinha was also associated with the Interconnected Stock Exchange of India Ltd. (ISEI) and was responsible for expanding its network of trading terminals across the country. He played a key role in Magadh Stock Exchange as its chief general manager for a period of nine years. A chartered accountant and law graduate, Mr. Sinha also holds an M.B.A and a master's degree in economics and commerce. Mr. Sinha has written for a number of prominent financial dailies to spread awareness of the commodity ecosystem. His analytical articles have been effective in initiating discussions on issues related to the ecosystem.

Christine Tsai, Country Manager of Metalor Technologies Taiwan, Heading Greater China (China, HK and Taiwan) during the past 4 and half years and is responsible for Business Development in Asia currently. Metalor Technologies was founded in 1852 specialized in the melting of gold and the manufacture of watch cases, establishing the foundations of the future Metalor industrial group: Refining, Advanced Coatings, Watch ad Jewellery, Electrotechnics, Technical Products.

Peter leads the trading of the precious metals business under ScotiaMocatta, the precious metal unit of The Bank of Nova Scotia. He is heading a team of 7 people covering trading business in the Asian-Pacific region. Having worked in the industry for 15 years, Peter has extensive experience in trading in varies markets of the precious metal sector.