A New Partner in Rome

Perhaps the most significant development of the year at the organizational level was our welcoming of a new CBIS shareholder — The Center of the Institute of the Brothers of the Christian Schools (De La Salle Christian Brothers). The Center coordinates the work of the individual Provinces world-wide. CBIS was previously owned solely by the six U.S. Provinces of the Christian Brothers. The Center is CBIS’ first non-U.S. shareholder and now a seventh and equal partner in the firm. In conjunction with this move, we have expanded the CBIS corporate board from 12 to 13 members with the appointment of Brother Francisco Lopez, FSC, as a new director and representative of the Center on the CBIS corporate board. Brother Francisco is the General Treasurer of the Institute in Rome. Prior to his current assignment he served as treasurer with a CBIS participant in Latin America. He is very familiar with our mission and our services.

CBIS is also privileged to draw on the wealth of knowledge offered by our independent directors, our advisors and friends of the firm, many of whom occupy positions of leadership and influence in the Catholic and institutional investment communities. Our observation of CBIS’ 25th anniversary, which bridged 2006 and 2007, gave us a chance to bring many of these individuals together for consultation and advice about our future direction. In April 2007, we convened a series of meetings involving members of all three of the boards that oversee our work — the corporate board of CBIS and the boards of the Catholic United Investment Trust (CUIT) and the Religious Communities Trust (RCT) — as well as former members of those boards and representatives of Partners for the Common Good. Discussion covered a wide range of investment-related and socially responsible investing (SRI) topics and produced many valuable insights that will inform our business decisions and growth strategy in 2008 and beyond. All of us at CBIS express our thanks to all who participated in these discussions.