Paul A Ullman

Paul A. Ullman is a member of the Highland Financial Holdings Group’s Board of Directors and serves as Chairman of the investment committee. He oversees all portfolio management duties firmwide and is Senior Portfolio Manager on the firm’s flagship fund. Prior to founding HFH Group, Mr. Ullman was co-founder of the MBS specialty investment management group at Alliance Capital Management where, as senior portfolio manager, he was responsible for the management of an investment business that grew during his tenure from $500 million in a single fund to $5 billion in multiple on-shore and off-shore investment vehicles and separate accounts. His management responsibilities included day-to-day decision making regarding sector and security selection, hedging and duration, credit and prepayment estimates used for the various Mortgage Assets in the portfolios, as well as the most cost-effective methodology to deploy leverage. Prior to Alliance, Mr. Ullman was a director and portfolio manager at Hyperion Capital Management where he had substantially similar duties to those at Alliance. Mr. Ullman helped create the short duration investment product that became one of the more successful investment products over the succeeding years. Mr. Ullman began his career at Salomon Brothers in 1982, where he had sales and trading responsibilities in New York and London. Mr. Ullman established Salomon’s mortgage trading capacity in London in 1987 and was a member of the team that brought the first series of securities backed by Sterling mortgages to the marketplace. Mr. Ullman received a BS/BA degree from Washington University. Mr. Ullman was named to the Trust Board by the NYS Governor in December 2007.