Jim Stern headed Lehman Brothers' merchant-banking group before leaving that firm to help found The Cypress Group. During his 20-year tenure with Lehman, he held senior management positions where he was responsible for the high-yield and primary capital-markets groups. He also served as co-head of investment banking and was a member of Lehman's operating committee. Mr. Stern has broad industrial experience and particular knowledge of the retailing, automotive, and consumer-products industries. Before graduating from Harvard Business School, Mr. Stern received a BS degree from Tufts University where he is Chairman of the Board of Trustees.