Executive Update

Ed Mollahan, senior vice president of J.P. Morgan Investor Services, has been appointed to the Private Equity Standards Board. The Standards Board is a new broad-based standards organization for the private equity industry and will focus on creating standards for the formatting and content of information that is reported among participants in the private equity arena. Other board members include Marcia Bateson, managing director and chief administrative officer, J.P. Morgan Partners; Steve Beitler, managing director, Trident Capital; William Franklin, managing director, Bank of America Capital Corporation; and J. Paul de Klerk, managing partner and chief financial and operating officer, NIB Capital Private Equity, N.V. The Board will eventually include representatives of all constituents in private equity investing.

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Thomas Makmann has been named president and chief executive officer of Network Storage Solutions, a Chantilly, Va.-based provider of network-attached storage (NAS) solutions. Makmann brings over 30 years of management experience in the high technology sector to Network Storage Solutions, with special expertise in storage hardware and software companies. Most recently, he served as president and chief operating officer of San Diego-based nStor Technologies, a provider of enterprise-class storage systems. Makmann will leverage the ongoing partnership with Hitachi Data Systems (HDS). Former president and CEO Bradford Clemmons will now assume the position of chief technology officer.

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James E. Rohr, chairman, president and CEO of The PNC Financial Services Group, has been named incoming chairman of the board for BITS, the Technology Group for The Financial Services Roundtable. He will be responsible for overseeing recent Board of Director initiatives, which focus on assuring the security and reliability of financial services in a time of increasing threat to the nation's infrastructure by terrorist elements. The Board recently recommended the industry implement voluntary guidelines and business practices in emerging areas such as mobile financial services. The purpose is to establish a framework for safe, sound, private and secure financial services--whether online or in traditional settings.