Equity Research

AREAS OF COVERAGE

Digital Media, Advertising, Internet

BACKGROUND

Darren joined Northland in July 2010 as Senior Analyst covering the Digital Media, Advertising and Internet sectors. Darren has over eleven years of diverse capital markets experience in equity research, risk arbitrage, and investment banking primarily focused on the technology, media and services sectors. Prior to Northland, Darren spent six years in Equity Research, with emphasis on Small Cap Growth Equities at Piper Jaffray, covering Mobile Computing and Wireless Services, and most recently as Senior Equity Research Analyst following the Digital Media sector at ThinkEquity Partners, LLC. Darren helped build successful Research franchises at both Piper and Think and has helped author comprehensive and timely industry pieces including "Understanding Convergence", "Dream It And Stream It", and "Beyond The Wireless Web". Prior to that, he successfully assisted in the execution of over thirty-five Equity and M&A transactions, with an aggregate value in excess of $10 billion, in the Communications and Technology sectors, while at Piper Jaffray. Darren received his B.S. in Finance from Boston College.

EDUCATION:

• Boston College – B.S. Finance

PROFESSIONAL LICENSES:

Series 7, 63, 86, 87

AREAS OF COVERAGE

Energy

Oil & Gas Exploration & Production

Business & Industrial Services

BACKGROUND

Marty joined Northland Securities in August 2010. He brings approximately 15 years of investment industry experience both as a sell-side and buy-side analyst. Prior to joining Northland, Marty was a portfolio manager at a money management firm that managed broad based portfolios and a natural resource focused portfolio. Previous experience included senior analyst positions at a hedge fund and a fund providing distressed debt investment management for a hedge fund. Marty’s experience encompasses managing securities across the entire capital structure from equity to bonds, credit defaults and options. Strategies ranged from directional company specific to macro economic. Prior to this, Marty was a sell-side analyst for over five years, primarily at Piper Jaffray, following industrial service and manufacturing companies, with an emphasis on transportation and logistics services. Earlier in his career, Marty was a senior financial analyst for Target Corporation and was with KPMG for over four years. Marty’s niche is finding complex businesses with high growth potential based on unique company and industry characteristics.

EDUCATION:

• St. Cloud State University – B.S. Accounting
• Chartered Financial Analyst (CFA) designation
• Certified Public Accountant (CPA, Inactive)
• Accredited in Business Valuation (ABV)

PROFESSIONAL LICENSES:

Series 7, 63, 86, 87

AREAS OF COVERAGE

Consumer/Evolving Lifestyles

BACKGROUND

Chris Krueger, CFA, Senior Equity Analyst, joined Northland Securities in January 2007 as a Senior Analyst covering consumer-related companies. Mr. Krueger has nine years of experience as a sell-side analyst. Previous to Northland, Mr. Krueger held similar positions at Miller Johnson Steichen Kinnard and at Dougherty & Company.

EDUCATION:

• CFA, BS (Economics) (University of Minnesota)

PROFESSIONAL LICENSES:

Series 7, 24, 63, 86, 87

AREAS OF COVERAGE

Interaction and Application Services

BACKGROUND

Mike Latimore joined Northland in Nov. 2008 as a senior equity analyst covering communications software and applications services companies. Prior to joining Northland, Mr. Latimore was the CFO of CDC Corp. (Nasdaq: CHINA), an enterprise software and Internet services company. For the 11 years prior to CDC, Mr. Latimore was an equity analyst covering communications software and applications services companies. He spent the seven most recent years with Raymond James & Associates.

EDUCATION:

• B.A. from The Johns Hopkins University; J.D. from William Mitchell College of Law

PROFESSIONAL LICENSES:

Series 7, 63, 86, 87

AREAS OF COVERAGE

Clean Technology/Alternative Energy

BACKGROUND

Eric Stine joined Northland Securities in April 2007 as an Equity Research Analyst. The focus of his research is investment opportunities within Clean Technology/Alternative Energy. His current coverage list includes companies focused on Distributed Generation, Energy Storage, Alternative Fuels, and Energy Efficient Products. Mr. Stine has been in the securities industry since 1994. Previous to joining Northland, Eric was a Senior Equity Trader with Miller, Johnson, Steichen, Kinnard and R.J. Steichen.

EDUCATION:

• B.S. in Finance from Miami University (Oxford, Ohio)

PROFESSIONAL LICENSES:

Series 7, 63, 86, 87, and 55

AREAS OF COVERAGE

Communication Equipment

BACKGROUND

Catharine joined Northland Capital Markets in 2011 as a Senior Research Analyst. Before joining Northand, Ms. Trebnick was a Senior Technology Research Analyst specializing in the IP Networking and Information Security sector with Avian Securities. Catharine began the Wall Street segment of her career as a Research Associate for research-centric investment banking firm ThinkEquity Partners (merged into Panmure Gordon in 2007). Here she developed detailed industry forecasts, financial models and initiation reports on a wide array of companies, including Acme Packet Inc., Allot Communications Ltd., BroadSoft Inc, Ciena Corporation, Cisco Systems Inc., F5 Networks Inc., Juniper Networks Inc., Riverbed Technology Inc., Sonus Networks Inc. and Tekelec. In 2010, Catharine was ranked 5th of 58 communication analysts for return to investors in StarMine.

Catharine’s expertise stems from her understanding of the communications industry accumulated through 15 years of success as a senior-level business development and product management executive for industry icons Time Warner Telecom, ICG Communications, Lucent Technologies, and AT&T. Her channel development role with over 100 partners, including EMC, Cisco, Juniper and Ciena, adds a point of view on the telecom supply chain that is unique among her peers.

EDUCATION:

• University of Chicago - MBA
• University of Maryland – Bachelor of Science

PROFESSIONAL LICENSES:

Series 7, 63, 87, 86