Anthony J. Cetta, CPA, is the Senior Managing Director of Twenty-First Securities Corporation. He is responsible for structuring innovative arbitrage, risk management and hedged investment strategies for multinational corporations and sophisticated investors. Mr. Cetta spent the first five years of his professional career at PriceWaterhouse, focusing on a broad array of corporate tax issues. In 1978 he moved to Credit Suisse First Boston, where he became CFO of the firm's US broker-dealer and later became the firm's global controller and global tax director. He left Credit Suisse First Boston to join Twenty-First Securities in 1998. Mr. Cetta serves as an adjunct professor at Fordham University's Graduate School of Business, teaching a course on international accounting.  He has authored a number of articles on arbitrage opportunities relating to corporate cash management activities and investment techniques, including stock concentration risk management strategies for high net worth individuals and trusts. An active member of the Securities Industry Association, he is a former chairman of the SIA's Federal Tax Committee. He is also a director and former president of the Wall Street Tax Association.