Michael D. Bergmann, Ph.D. is Senior Executive Vice President and a Director of the Bank. He leads the Bank's economic and investment research efforts. He also acts as Chairman of the Bank's Investment Committee and its Asset/Liability Committee. He has more than 35 years of relevant investment and finance-related experience. Dr. Bergmann received a Doctorate degree from Stanford University in Business Economics, an M.S. degree in statistics from Stanford University, and an undergraduate degree from the University of Minnesota. Dr. Bergmann has developed many general and specific-purpose financial models, methods and techniques (see for example U.S. Patent Application Publication Number US 2002/0143682 A1), authored numerous economic articles (see for example Why are Bond Yields so Low? A Brief Survey of the Bond Yield Conundrum, Global Imbalances, Bretton Woods II, the Global Saving Glut, Currency Adjustments and Dark Matter, an AMG National Trust Bank publication, January 2006) and contributed to the advancement of the field of investment risk control through asset allocation (see for example “Estimating Asset Class Standard Deviations and Correlations,” Journal of Wealth Management, Winter 2003 and “Multi-index Shrinkage Estimation: Theory and Empirical Tests,” Journal of Wealth Management, Summer 2005). Rocky Mountain Commercial Real Estate Expo and Fall Forecast 2101 S. University Blvd, Ste 380, Denver, CO 80208-8934 Event line: 303.871.7987 Main number: 303.871.3432 DMCAR: 303.753.6227