Frank P. L. Minard

Managing Partner

Mr. Minard joined XT Capital Partners in March 2004. Prior to this, Mr. Minard was one of the Founders and Chairman of the Board of InvestorForce responsible for forming and leading the overall business strategy and development of business relationships with investment management firms, consultants, institutional investors and their national associations. He secured over $70 Million in private equity from CalPERS, Thomas Weisel Partners, Mellon Ventures, Merrill Lynch and Internet Capital Group which was used to launch and build InvestorForce in 1999. InvestorForce was the first web-enabled communications link between Asset Allocators, their Consultants and Investment Management firms around the globe.

Prior to joining InvestorForce, Mr. Minard was Managing Director and Global Head of Marketing and Client Service for Morgan Stanley Investment Management. In this role, he supervised 160 Sales and Marketing employees worldwide and reorganized the entire global marketing and client service functions leveraging other divisions within MSDW. This team was responsible for sales, client servicing, marketing and product specialists and raised $38 Billion in new assets in 1998 representing the largest amount of assets raised in a single year in the history of the firm.

Previous positions include Chairman and Chief Executive Officer of Bankers Trust Company, Global Investment Management, where Mr. Minard supervised all portfolio management, research, operations, human resources, legal, compliance, sales, marketing and client servicing for a firm with over $250 Billion under management. Prior to this, Mr. Minard was Chairman and Chief Executive Officer, Mitchell Hutchins Asset Management. In this role he integrated retail and institutional asset management teams and totally reorganized all sales and marketing teams for MHAM. He built a fixed income portfolio management team from the ground up and expanded product distribution internationally. He was President of the Paine Webber Mutual Funds and was responsible for their management and distribution. Before Mitchell Hutchins, Mr. Minard was Managing Director responsible for Global Sales, Marketing and Client Service for Oppenheimer Capital. In this role, he and his team increased the assets from $4 Billion to $30 Billion over an 8-year period primarily from Public and Corporate Pension Funds and developed new distribution channels globally.

Mr. Minard enlisted in the U.S. Navy for four years (1968-1972) during the Vietnam War and as part of Attack Squadron VA-195, he had two tours to Vietnam aboard the USS Kitty Hawk — CVA 63.

Following his four-year Enlistment in the US Navy, Mr. Minard's first position was to work for New Jersey Bell as Assistant Treasurer managing their Defined Benefit Plan and responsible for the hiring, monitoring and removing Investment Managers and Consultants. Mr. Minard was then asked to move over to New York City and be responsible for Bell System Savings Plan and the ATT Pension Fund which at that time represented the largest private pension fund in the United States. Importantly, In the mid 1970's while at ATT, he managed the first In-house Index Fund with approximately $500 Million of Bell System assets under management. Additionally, Mr. Minard was responsible for ATT's Asset Allocation, Manager Selection and Manager Monitoring of the individual money managers with a total of approximately $30 Billion in assets.

Mr. Minard graduated with an MBA in Finance with honors from Rutgers University and has a BA degree in English from the University of North Carolina. Mr. Minard is a frequent speaker at industry conferences, serves on several Boards of Directors. Mr. Minard is Series 62,63 registered.