Managing Director of Cerberus Capital Management

Mr. Zhang joined Cerberus in 2008. Prior to joining Cerberus, Mr. Zhang was a Managing Director at Bear Stearns from 2001 to 2008, where he worked as a senior CMO structurer and proprietary trader. He traded and managed risk in the following markets: IO/PO and other agency mortgage derivatives, agency pass-throughs and CMOs, relative value rates, and subprime non-agency securities. From 1997 to 2001, he worked at RBS Greenwich Capital Markets as a quantitative analyst and a major contributor to the firm-wide valuation and risk models for all agency mortgage-backed securities. Mr. Zhang is a graduate of Purdue University and the University of Illinois at Urbana-Champaign.