Jonathan M. Orszag serves as a member of the board of directors of JMP Group. He also serves on the board of directors' compensation committee and its corporate governance committee. Mr. Orszag is a senior managing director and member of the executive committee of Compass Lexecon, LLC, an economic consulting 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.