Eric I. Hemel

ERIC I. HEMEL is a First Vice President at Merrill Lynch Global
Securities. Prior to joining the firm, he worked at Morgan Stanley as an
Equity Analyst and at First Boston as a Vice President and Equity
Analyst. Dr. Hemel also held several positions in the Reagan
Administration, among them Chief Economist and Director of Policy and
Research at the Federal Home Loan Bank Board, Staff Director of the
President’s Council of Economic Advisers, and Senior Policy Adviser to
the Domestic Policy Staff of the White House. He holds a BA, MBA and PhD
from Stanford University.