Betsy Z. Cohen

Overview

Betsy Z. Cohen, age 65, has served as the chairman of the board of trustees and as a trustee of RAIT since our founding in August 1997 and as our chief executive officer from August 1997 to December 2006. Mrs. Cohen has been the chairman of the board of The Bancorp Bank, or Bancorp, a commercial bank, since November 2003 and a director of The Bancorp, Inc., or Bancorp Inc., a publicly held registered bank holding company for Bancorp, since September 2000 and the chief executive officer of both Bancorp and Bancorp Inc. since September 2000. Mrs. Cohen served as a director of Hudson United Bancorp (a bank holding company), the successor to JeffBanks, Inc., from December 1999 until July 2000 and as the chairman of the Jefferson Bank Division of Hudson United Bank (Hudson United Bancorp's banking subsidiary) from December 1999 through March 2000. Before the merger of JeffBanks, Inc. with Hudson United Bancorp in December 1999, Mrs. Cohen was chairman and chief executive officer of JeffBanks, Inc. from its inception in 1981 and also served as chairman and chief executive officer of each of its subsidiaries, Jefferson Bank, which she founded in 1974, and Jefferson Bank New Jersey, which she founded in 1987. From 1985 until 1993, Mrs. Cohen was a director of First Union Corp. of Virginia (a bank holding company) and its predecessor, Dominion Bancshares, Inc. In 1969, Mrs. Cohen co-founded a commercial law firm and served as a senior partner until 1984. Mrs. Cohen is also a director of Aetna, Inc. (an insurance company). Daniel G. Cohen, who is our chief executive officer and a trustee of RAIT, is the son of Mrs. Cohen.