Federico Foglia has been a board member of BCM since 2003. He joined Banca del Ceresio in 2000 after five years at Merrill Lynch Mercury Asset Management in London, where he was a director of the Private Investment Management Group. He is a member of the investment committee of the Group's multi-manager funds, a director of Global Selection SGR SpA., and of Ceresio SIM SpA. He is also a member of the Investment Committee of Haussmann. Mr. Foglia also serves as a director on Boards of companies in the media and automation component businesses. He holds a degree in economics from Bocconi University (1995) and is member of AIAF (the Italian association of financial analysts).