The Small-Country Effect

President of Keppler Asset Management, Inc. in New York, an SEC-registered investment management and advisory firm. He was previously with Commerzbank AG, in both Frankfurt and New York, and was head of their global investment strategy, portfolio management, and institutional sales departments in New York. Mr. Keppler serves on the board of directors of State Street's Luxembourg equity mutual fund family and is a member of the investment committee of Graf Lambsdorff Vermoegensverwaltung AG in Germany, a leading money management firm.

Vice president and unit head of non-U.S. active strategies at State Street Global Advisors in Boston. He leads their international research efforts and has been instrumental in the development of country selection, stock selection, and currency management strategies. Mr. Traub holds a B.A. in economics from Brandeis University and an M.B.A. in finance and accounting from the University of Chicago Graduate School of Business.