Mr. Baum is a Founder and Principal of Five Mile. Prior to Five Mile, Mr. Baum served as Executive Vice President at PaineWebber for approximately six and a half years, where he oversaw Investment Banking and the Fixed Income and Equity Trading, Sales and Research areas. Prior to this experience, Mr. Baum spent nine years at Kidder, Peabody, where he built and managed a broad-based and highly successful fixed income business franchise. Mr. Baum began his Wall Street career at Salomon Brothers in 1979, where he supervised the whole loan trading area of the Mortgage Department and worked in the mortgage research area of the Bond Portfolio Analysis group. Mr. Baum earned a PhD in Applied Mathem