Harding Named Managing Director for Operational Reviews

Independent Fiduciary Services ("IFS") has promoted Steven M. Harding, a Senior Vice President, to the position of Managing Director of the firm's Operational Review practice. He replaces Jeanna M. Cullins, who left the firm in March of 2008. He will report to the company's Management Committee.

"Steve has over 27 years of risk management experience in the financial services industry, and is a nationally recognized expert on risk controls for large, institutional investment funds," said Samuel (Skip) Halpern, President. "Steve's been working with IFS for over nine years. He's in an excellent position to both manage the Operational Review team and - in close collaboration with the other senior members in this practice area - help us continue providing high quality, custom service to clients during this growth phase of the firm," said Halpern.

Prior to joining IFS, Mr. Harding was Assistant Director of Internal Audit in the Office of the New York State Comptroller. From 1991 to 1994, Mr. Harding was founding President of APPFA (Association of Public Pension Fund Auditors, Inc). In addition, Mr. Harding worked for more than six years in public accounting with Coopers & Lybrand and with a regional firm. At both firms, he audited securities broker-dealers. Mr. Harding graduated cum laude from the New York State University at Albany and received his CPA license in 1984.

In addition to providing Operational Reviews (i.e., fiduciary audits) for large institutional investors, IFS provides on-going investment consulting services to approximately $21 billion in retainer client assets including ERISA-governed pension, 401(k), welfare (including VEBA), non-profit, and other institutional investor funds. IFS also serves as an independent fiduciary decision-maker in special situations (often involving employer securities in 401k plans), replacing the regular fiduciaries when they encounter a conflict of interest.