Roy Weinberger, is Chairman of the Executive Board of Turkrating. He has more than 35 years of experience in rating services both as an analyst and as an advisor at international level. He has held senior positions at both Standard and Poors' Corporation and Thomson Financial BankWatch and has contributed to the international expansions of both institutions.

Mr. Weinberger is also a partner and a member of the Rating Committee of BRC Investor Services S.A., a credit rating agency based in Bogota, Colombia, and is a senior advisor of New York-based Structured Credit International Corp. and of Kuala Lumpur, Malaysia-based Palladium Consulting Sdn Bhd.

Mr. Weinberger worked at Standard and Poors' for 19 years. During his tenure at S&P he served as an analyst, supervisor and manager with responsibilities, at one time or another, in every market in which the agency conducted its rating activities. In 1975, following the reopening of the US market to international borrowers, he led the effort to develop methodologies and practices to enable S&P to rate sovereign and other foreign entities for the first time in over 40 years. As Managing Vice-President, Structured Finance/Financial Institutions, from 1979 through 1982, he created a unit to rate structured finance transactions, a first in the rating industry. Between 1983 and 1988 he was Managing Director responsible for Corporate and Public Utility ratings. During this period he conceived and implemented the practices of "CreditWatch" and "Credit Outlooks," now commonly used by all international rating agencies; prepared the first guide to rating agency practices ever published; oversaw development of the first platform for electronically delivering ratings and analyses; and formed issuer and investor advisory councils, forums through which the agency obtained valuable feedback on analytical methodologies and other subjects from its key constituencies. In combination, these actions dramatically enhanced the timeliness and transparency of the rating process.

Mr. Weinberger joined Thomson Financial BankWatch in 1994 as Director of International Business Development. In that role, he formed new rating agencies to support capital market development in Latin America, Asia and Eastern Europe. Thomson Financial BankWatch gradually became active in 95 countries and gained recognition from the regulatory authorities of 22 countries.

In recent years Mr. Weinberger has served as an independent consultant and advisor on matters related to credit risk and ratings. He advises issuers of debt securities on how to establish, maintain and protect their credit ratings and assists institutional investors on how to protect and enhance the value of their fixed income portfolios.

Vice-Chairman and founding partner of Turkrating Gulnur Ucok served as General Manager for more than 10 years in the company after she contributed to the establishment of Turkrating in 2006. Having started her professional life at the Ministry of Labor in 1971, she joined the Ministry of Finance in 1980. She was appointed by the Treasury Undersecretariat to the Turkish Embassy as Economic and Financial Counsellor in 1986, a position she served for three years. Beginning 1989 she became Head of the International Capital Markets Department of the General Directorate of Foreign Relations at the Undersecretariat of Treasury. In that capacity, Ms. Ucok took an active part in the successful international bond issuances of the Turkish Republic in many countries.

In 1995 Ms. Ucok retired from the Undersecratariat of Treasury and joined a private sector bank as Assistant General Manager in charge of Foreign Relations. In 1997 she undertook the representation in Turkey of Thomson BankWatch, an assignment she carried until the rating agency was acquired by Fitch Ratings. Since 2000 she has provided consultancy services to various international banks, including Sumitomo Mitsui Banking Corporation, Export Development Canada and JBIC.

Born in 1945 in Istanbul GulnurÜçok is an ACG ‘64 graduate. She studied at the Faculty of Economics of Istanbul University. She received a Master of Science degree in Industrial Relations from the London School of Economics in 1971.

Philippe Delhaise is a Belgian national with degrees in Engineering, Philosophy and Economics earned at the University of Louvain (Belgium), Mr. Delhaise also received a Master of Business Administration degree from the University of Chicago.

Mr. Delhaise has been living and working throughout Asia and the Middle East since the early 1970s. He served in the Beirut and the Teheran offices of Generale Bank, Belgium's largest bank, now Fortis. He moved to Tokyo in 1981, then to Singapore as General Manager of the bank's branch. In 1984 was appointed as General Manager of Belgian Bank, a subsidiary of Generale Bank in Hong Kong.

Upon leaving that position in 1985, he established a group of companies servicing the finance industry in Hong Kong and Singapore. Among these companies was Capital Information Services Ltd, whose rating business division was purchased in 1994 by Thomson BankWatch, then the world's largest bank credit rating company.

Under contract as President of the BankWatch's Asia Division between 1994 and 1999, Delhaise was responsible for all ratings and research coverage of financial institutions across the Asia-Pacific. He is an expert on bank, banking systems and sovereign risk in emerging markets, in particular in Asian countries.

Mr. Delhaise has hosted Risk seminars in a large number of cities on four continents. He has lectured at INSEAD (France and Singapore), HEC (Paris), University of Paris (Paris Dauphine), HEC (Lausanne), the Amsterdam Institute of Finance, the Hong Kong University and the City University of Hong Kong.

Capital Information Services Ltd. is presently providing consultancy in Financial Risk Management with a focus on Basel II designs and solutions to financial institutions in Australia, France, Belgium, Portugal and the Czech Republic. Mr.Delhaise is also the founder and President of Carbon Management Consulting Ltd, a company run by engineers and financial risk specialists, which is dedicated to the implementation and validation of projects for the reduction of greenhouse gas emissions under the Kyoto Protocol.

Philippe Delhaise wrote a well-received book entitled "Asia in Crisis - The Implosion of the Banking and Finance Systems" published by John Wiley & Sons in 1998.

Mahesh Kotecha is a partner and a member of the Rating Committee of BRC Investor Services S.A., a rating agency in Bogota, Colombia, and is the President and founder of Structured Credit International Corp. (SCIC), which provides financial advisory services on ratings and securitizations for emerging markets. Prior to forming SCIC in 1999, he was Managing Director of MBIA Insurance Corporation and of CapMAC and an Alternate Director of ASIA Ltd.

Mahesh Kotecha started his career as a planning officer in UNDP in 1973, moving to the Federal Reserve Bank of New York from 1975. From 1979 until 1987, Kotecha worked for Standard & Poor's Corporation, rising from Vice President to Managing Vice President and Senior Vice President. He founded and headed the international public sector credit ratings department with responsibility for all credit ratings on non-US municipalities, sovereign governments, supranational borrowers as well as financial and industrial institutions owned or largely controlled by national or regional governments. He also founded and headed Standard and Poor's non-US structured finance group to rate transactions backed by non-US collateral, mortgage and non-mortgage. He was responsible for ratings of several hundred international entities and structured financings from Europe, Latin America, and Asia, including Australia, Japan, and New Zealand.

Kotecha was a founder of ASIA Ltd, the first emerging markets financial guarantee company established by CapMAC and others in Singapore in 1995 and ABS Finance, a securitization company establishes by CapMAC with IFC in Indonesia in 1994. His responsibilities at CapMAC and MBIA included origination and execution of transactions backed by student loans, home equity loans, trade receivables, corporate bonds and loans in Collateralized Debt Obligations and deals backed by other corporate and consumer assets as well as financings backed by infrastructure revenues.

He came to CapMAC in 1989 from Kidder, Peabody, where he was Senior Vice President and Director of the Market Analysis and Product Development Group in the Asset Finance Department. Mr. Kotecha led Kidder into the UK mortgage backed securities markets, structured the first public Collateralized Bond Obligation (CBO), and advised International Finance Corporation (IFC) and Turkey on capital markets issues.

Mr. Kotecha holds a Bachelor's degree in physics and engineering from Harvey Mudd College in Claremont (1970), California, and a Master's degree in management from the Sloan School of Management at MIT (1974). He pursued doctoral studies at NYU's Stern School of Business and is also a Chartered Financial Analyst (1985).

He has been listed in Who's Who in America and is a member of the US-based Council on Foreign Relations, where as an Adjunct Senior Fellow (1999 - 2002), he directed a Round Table on Capital Flows to Africa and was Co-Chairman of the Board of Directors' Advisory Committee on Africa. He served on the Corporate Council on Africa's Commission on Capital Flows (2002-2003) as well as its Task Force on Capital Flows (2003-2005). He has been a member of the International Advisory Panel of the East African Development Bank since 1981.

Serdar Aktan, a partner and Board member, is also a member of the Rating Committee in Turkrating. Serdar Aktan started his career at the Internal Revenue Administration's Department of Double Taxation of the Ministry of Finance. In 1976 he joined the Sworn-in Auditors' Board where he served until 1987. In 1989 he received the certificate of "Sworn in Accountancy".

From 1987 onwards he worked as Assistant General Manager at Anadolu Bank and worked until the bank was merged with Emlak Bank in 1991. Between 1988 and 1990 he also represented Emlak Bank on the Board of the Arab Turkish Bank. In 1991 he joined the Arab Turkish Bank as Assistant General Manager responsible for several departments including Credits, Marketing, Treasury, Accounting, and the Legal Department. Between 1992 and 1995 he worked at Impex Bank A.S. as Assistant General Manager in charge of investments in the BIS countries. He returned to the Arab Turkish Bank in 1995 to his previous assignment.
Between 2001 and 2007 he served as the General Manager of Kablonet Iletisim Sistemleri San. ve Tic. A.S. Kablonet is the biggest Cable TV private operator in Turkey and presently under the ownership of the Savings Deposit Insurance Fund.

Serdar Aktan graduated from the Department of Economics and Finance of the Faculty of Political Sciences in Ankara in 1975. He spent 3 years in the U.S. between 1982 and 1985 and received his M.A. degree in Economic Development at the University of Vanderbilt, Nashville Tennessee. He also spent one year in New York City doing research in Money and Capital Markets. He is lecturing MBA level courses on finance, banking, capital markets, leadership, telecommunications and privatization legislation in various universities since 1991.