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William Chang is a Director in the Capital Markets Group of M&T Bank. In such capacity, Mr. Chang serves as the Director of the Bank's private placement activities and corporate advisory services. Mr. Chang's primary responsibilities include funding raising in the private placement market with products ranging from senior institutional debt, mezzanine debt, to equity. Mr. Chang has worked with companies across various industry segments as well as different stages of development. In addition, Mr. Chang assists companies in an advisory role in areas such as mergers and acquisitions, strategic evaluation, valuation, buyouts and divestitures, and general corporate advisory services. Immediately prior to joining M&T Bank in 1992, Mr. Chang was a senior manager in the Financial Services Practice of KPMG Peat Marwick's New York Office. In such capacity, he was responsible for managing audit engagements of multinational financial institutions, including top tier commercial banks and investment banks. During his tenure, he was also responsible for managing the firm's "Asian Desk" in coordinating firm-wide efforts on Asian financial clients. Mr. Chang also managed the publication of several of the Firm's technical literature addressing issues affecting the financial services industry. Mr. Chang holds a M.B.A. degree in finance from New York University and is a magna cum laude graduate of Pace University. He is a CPA, a member of the American Institute of Certified Public Accountants and the New York State Society of CPAs. Mr. Chang is a board member of the Queens Botanical Garden, having served as its Chairman for three years between 1997-2000. In such capacity, Mr. Chang spearheaded many of the Garden's strategic initiatives, including the launching of a master construction plan involving total funding of over $60 million. Mr. Chang worked closely with many local and state government representatives, private citizen groups as well as corporate supporters in carrying out his board responsibilities.