KKR Financial - Board of Directors

Paul M. Hazen
Paul M. Hazen serves as the Chairman of our Board of Directors. He joined Wells Fargo in 1970, serving as Chairman of Wells Fargo from February 1997 to May 2001, Chairman and CEO from February 1997 to November 1998, CEO from January 1995 to February 1997, and President and COO from 1984 to 1995. Mr. Hazen is currently a director of Wiilis Group Holdings Limited, KSL Recreation Corp and Xstrata Plc., and has served as a board member for Epiphany Inc. and Phelps Dodge Corp.

Saturnino S. Fanlo, Chief Executive Officer
Prior to KKR Financial, Mr. Fanlo was Executive Vice President and Treasurer of Wells Fargo & Company from July 2000 to June 2004. He was responsible for its Securities and Investment Division, including high yield securities, investment grade securities, structured products, franchise real estate, and derivative products and sales, and also for its Treasury Division, including short- and long-term funding, the investment portfolio, and membership on the asset-liability committee. In addition, Mr. Fanlo was President of Sutter Advisors LLC, a wholly-owned subsidiary of Wells Fargo & Company and a registered investment advisor, from August 2001 to June 2004.

Scott M. Stuart
Bio coming soon

Scott C. Nuttall
Bio coming soon

William Aldinger
Mr. Aldinger has been a director since June 2005. He has been Chairman and CEO of HSBC North America Holdings, Inc. since January 2004. Mr. Aldinger served as Chairman and CEO of HSBC Finance Corporation, formerly known as Household International Inc., a consumer finance company, from May 1996 to January 2004. Mr. Aldinger served as President and CEO of Household International, Inc. from September 1994 to May 1996. Prior to joining Household International, Mr. Aldinger served in various positions at Wells Fargo Bank, including Vice Chairman. Mr. Aldinger is a director of HSBC Holdings, plc, MasterCard International and Illinois Tool Works, Inc. He is a member of the boards of Children’s Memorial Medical Center/Children’s Memorial Hospital and the Children’s Memorial Foundation. Mr. Aldinger also serves on the board of trustees of the J.L. Kellogg Graduate School of Management.

Patrick Cowell
Mr. Cowell has been a director since August 2004. He has been the President of Williams-Sonoma Brand since 2002. Mr. Cowell served as President of Cowell Development, a real estate development company, from 1999 to 2002; President and Chief Executive Officer of Airport Group International, an airport management and development company, from 1996 to 1999; President (Americas and Caribbean) of Sun International Hotels and Resorts from 1994 to 1996; and prior to that was employed by the Hyatt Hotels Corporation for 22 years.

Kenneth M. deRegt
Mr. deRegt has been a director since April 2005. He currently is a Managing Director at Aetnos Capital, LLC, an investment management firm, and has served in this role since January 2003. Mr. deRegt joined Morgan Stanley in 1981, where he was made a Vice President in January 1983, a Principal in January 1985, and a Managing Director in January 1996. In addition to being a Managing Director, from January 1997 to December 2000, Mr. deRegt headed the Fixed Income, Currencies and Commodities businesses for Morgan Stanley, and was a member of Morgan Stanley’s Management Committee. From January 2000 until December 2003, Mr. deRegt was a private investor. Mr. deRegt is currently the Chairman of the Board of Trustees of the Eagle Hill School, and is a member of the Board of Trustees of PASE – The Partnership for After School Education.

R. Glenn Hubbard
Mr. Hubbard has been a director since October 2004. He was named the Dean of Columbia University’s Graduate School of Business in 2004. From 1994 to the present time, Mr. Hubbard has been the Russell L. Carson Professor of Finance and Economics in the Department of Economics and Graduate School of Business of Columbia University. From February 2001 until March 2003, he took a leave of absence from his teaching post to serve as Chairman of the U.S. Council of Economic Advisers. He was Deputy Assistant Secretary of the U.S. Treasury Department for Tax Policy from 1991 to 1993. Mr. Hubbard is a research associate at the National Bureau of Economic Research, and a visiting scholar at the America Enterprise Institute in Washington, D.C. He is currently a director of ADP, Black Rock Closed End Funds, Dex Media, Duke Realty and Ripplewood Holdings. He is also a trustee of the Economic Club of New York and the Fifth Avenue Presbyterian Church of New York.

Ross J. Kari
Mr. Kari has been a director since August 2004. He has been an Executive Vice President and Chief Operating Officer of the Federal Home Loan Bank of San Francisco since March 2002. Mr Kari was Chief Financial Officer of MyCFO, a wealth management firm, from 2001 to 2002, and prior to that, was employed at Wells Fargo for 18 years, including as Chief Financial Officer from 1998 to 2001.

Ely L. Licht
Mr. Licht has been a director since April 2005. From December 2002 to April 2005, Mr. Licht was in retirement. From January 2002 to December 2002, Mr. Licht was semi-retired, serving as a consultant to Wells Fargo on a part-time basis. Prior to his semi-retirement, Mr. Licht was employed at Wells Fargo for 18 years, including as Chief Credit Officer from November 1998 to December 2001, and Executive Vice President for Credit Administration from February 1990 to November 1998.

Deborah H. McAneny
Ms. McAneny has been a director since April 2005. Ms. McAneny was employed at John Hancock Financial Services for 20 years, including as Executive Vice President for Structured and Alternative Investments of John Hancock Financial Services and as a member of its Policy Committee from 2002 to 2004, Senior Vice President for John Hancock’s Real Estate Investment Group from 2000 to 2002, and as a Vice President of the Real Estate Investment Group from 1997 to 2000. She is currently on the Board of Trustees of the University of Vermont and is a past President of the Commercial Mortgage Securities Association.