News - 2008

Columbus, Ohio, February 26, 2008 — RED CAPITAL GROUP’s Chairman and CEO William E. Roberts announced that he will retire at the end of February 2008. Simultaneously Mr. Roberts announced that RED, whose leadership, dedication to client service and unsurpassed technical expertise can be found at all levels and business lines of the firm, will remain in the hands of extremely knowledgeable and competent leadership. As part of the succession plan, senior executives Scott M. Laufenberg and Brian T. Kelleher were named as Co-Chairmen and Chief Executive Officers.

Mr. Roberts leaves RED well positioned for the future. The firm’s revenues reached an all time high in 2007, asset performance is exemplary, and new mandates are at record levels. Over the years with Mr. Roberts at the helm, the firm earned national distinctions as the top ranked Fannie Mae DUS® seniors housing lender, top rated Fannie Mae DUS multifamily lender, top rated FHA multifamily lender, top rated multifamily housing bond underwriter, top rated tax credit equity provider, and as an outstanding loan servicer.

Mr. Roberts is a distinguished veteran in the finance and banking arena. In his career, which has spanned 30 years, he has directed literally thousands of multifamily project financings, municipal bond issues and direct investments, and he has developed joint ventures and innovative concepts and programs. Under his leadership, RED CAPITAL GROUP evolved from a 3-person operation in 1990 and today flourishes with more than 250 employees in 15 offices coast to coast. In his previous tenures, Mr. Roberts served as Chairman and CEO of Banc One Capital Funding Corporation, Co-Chairman of Banc One Mortgage Capital Markets, and Vice Chairman of Banc One Capital Markets, Inc. Prior to that, he co-founded Cranston Securities Company and Cranston Mortgage Company in 1979. Mr. Roberts was graduated with Honors from Indiana University and holds a Masters Degree from the University of Notre Dame, where he was a University Fellow.

Incoming Co-Chairman and CEO Scott M. Laufenberg serves on RED’s Executive Committee and has served as President and Chief Operating Officer of Red Capital Markets, Inc., RED’s broker/dealer entity, where he directed the building of the firm’s low income housing tax credit business into a major and highly respected national player. Mr. Laufenberg joined RED’s predecessor entity, Banc One’s Housing and Health Care Group, in April 1995 and at various times was responsible for originating, structuring, underwriting and marketing low income housing tax credit equity investments and for structuring and marketing RED’s Tax Credit Funds. Prior to that, Mr. Laufenberg was a manager in Bank One’s Corporate Audit Department where he assessed investment risks within the Funds Management Corporation, specifically in the areas of asset/liability management, on and off balance sheet portfolio management, and investment operations. Mr. Laufenberg received his BS degree in Finance with Honors from the University of Wisconsin at La Crosse.

Incoming Co-Chairman and CEO Brian T. Kelleher serves on RED’s Executive Committee and has served as Senior Managing Director and Chief Operating Officer of RED CAPITAL GROUP where he has involvement in all areas of the firm. Previously, Mr. Kelleher also served as RED’s Chief Financial Officer and played a key role in establishing RED’s original infrastructure. Prior to joining RED CAPITAL GROUP’s predecessor entity, Banc One’s Housing and Health Care Group, in October 1998, Mr. Kelleher was the Chief Financial Officer at Bethesda, Maryland-based AMI Capital, a multifamily and commercial mortgage banking firm. At AMI, Mr. Kelleher was instrumental in directing all facets of the mortgage process, including Fannie Mae DUS® loan origination, underwriting, closing, secondary marketing, and servicing/asset management for over $2 billion in loans, including working closely with Fannie Mae and GNMA on asset management issues. His previous experience also includes nine years with Deloitte Haskins & Sells as a Certified Public Accountant. Mr. Kelleher is a graduate of Georgetown University with a Bachelor’s Degree in Business Administration.

Mr. Kelleher commented, "Bill’s retirement signifies the end of an era, certainly. Yet through the years, his vision has become our vision, the culture he sparked within RED has become our culture and the commitment to excellence and dedication to customer service and to each other that he has nurtured remains with us. So while things have changed, things also have remained the same, and 2008 once again promises to be a year of great achievements." Mr. Laufenberg commented, "Under Bill’s guidance the firm developed its truly unique culture, one driven by excellence and teamwork, with an unwavering focus on serving the customer - a culture which continues to define RED today and sets the firm apart from others. And as many RED clients know, Bill has been an exemplary leader of great vision, intelligence and drive."