Jonathan M. Orszag serves as a member of the board of directors of JMP Group. 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 Clinton's National Economic Council. He is currently a senior fellow at the Center for American Progress and a fellow at the University of Southern California's Center for Communication Law & Policy.