Farboud Tavangar joined LCM in 2001. He is responsible for the overall activities conducted by LCM, including portfolio optimisation, credit oversight, and investor relations. In connection with the transfer of Crédit Lyonnais' corporate and investment banking business to Crédit Agricole, that resulted in Calyon, he was chosen to manage the combined CDO management activities of Crédit Lyonnais and CAI (Indosuez Capital). From 1994 to 2000, Mr. Tavangar was in charge of the commercial lending activities to the health care sector (hospitals, long term care, managed care, medical equipment, PPMs, diagnostics, alternate site). From 1990 to 1994 he was a member of the Lodging Group financing hotel properties and companies, casinos and ski resorts. He started his banking career in 1986 with Irving Trust Company (subsequently The Bank of New York). Upon completion of the credit training programme, he joined the Real Estate Activities Group, first as part of the loan syndications team then as part of the loan origination team. He received an MBA from Columbia University in 1985 and a degree in mechanical/electrical engineering from ESTP (École Supérieure des Travaux Publics) in France in 1983. Mr. Tavangar is based in New York.