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JMP Group Appoints Jonathan Orszag to Board of Directors

^{Published on 2011-03-08 11:05:24 - Market Wire}
 

SAN FRANCISCO--([ BUSINESS WIRE ])--JMP Group Inc. (NYSE:JMP), an investment banking and alternative asset management firm, announced today that its board of directors has elected Jonathan M. Orszag as an independent director. Mr. Orszaga™s initial term as a director will end upon the companya™s annual meeting of shareholders in June 2011, when he will stand for election to a full one-year term.

"We are very pleased to welcome Jon as a member of our board"

aWe are very pleased to welcome Jon as a member of our board,a said Joseph A. Jolson, JMP Groupa™s chairman and chief executive officer. aJon is a successful entrepreneur who co-founded an economic consulting firm that advises companies reviewing their strategic alternatives on the non-financial aspects of their decisions. Jon started his career in Washington, having worked both in the Clinton White House and at the U.S. Department of Commerce. In many ways, Jona™s business is analogous to ours in that it seeks to attract and retain large producers servicing a limited number of important firm-wide relationships. We are excited to add him and his unique perspective to our team of independent directors.a

Mr. Orszag is a senior managing director and member of the executive committee of Compass Lexecon, LLC, an economic consulting firm. Compass Lexecon, which engages in the application of economics to legal and regulatory matters, is a wholly owned subsidiary of FTI Consulting, Inc., a global business advisory firm. Mr. Orszag has conducted economic and financial analysis on a wide range of complex issues in antitrust, regulatory, policy and litigation matters for corporations and public-sector entities in a variety of markets, such as the technology, telecommunications, financial services, media and sports industries.

Prior to entering the private sector, Mr. Orszag served as the assistant to the U.S. Secretary of Commerce and director of the Office of Policy and Strategic Planning. In this capacity, he was chief policy adviser to the Secretary of Commerce and was responsible for coordinating the development and implementation of policy initiatives, from telecommunications issues to international trade issues. Previously, Mr. Orszag served as an economic policy advisor on President Clintona™s National Economic Council. He is currently a senior fellow at the Center for American Progress and a fellow at the University of Southern Californiaa™s Center for Communication Law & Policy. He received a M.Sc. from Oxford University, which he attended as a Marshall Scholar, and graduated summa cum laude in economics from Princeton University.

About JMP Group

JMP Group Inc. is a full-service investment banking and asset management firm that provides investment banking, sales and trading, and equity research services to corporate and institutional clients and alternative asset management products to institutional and high-net-worth investors. JMP Group operates through three subsidiaries: JMP Securities, Harvest Capital Strategies and JMP Credit Advisors. For more information, visit [ www.jmpg.com ].