World Map.jpg


Where IMAGINATION & Innovation


The Next DISCOVERY & Opportunity

Entrepreneurs Directly investing in Emerging markets need Subject MAtter experts with local experience

Meet Our military, diplomatic & Intelligence PROFESSIONLAS

The Majority Of Todays Investment Portfolios Do Not Include Frontier Or Emerging Markets. Why? Because Most Investment Firms Lack An Understanding Of The People, Their Culture And Business Environment Of Those Countries.

Frontier Market Research Is Easily Available From Reputable Organizations, Academic Reports And Reference Sources.  Many of These Sources Include Banks, Think Tanks, The United Nations, World Bank, International Monetary Fund, The U.S. Department of Commerce, The U.S. State Department, The Department of Defense Or The Central Intelligence Agency (CIA) Web Sites.  All of These Research Reports Cite Specific Countries Or Regions For Investment. 

Morgan Stanley’s 2019 Global Strategy Outlook, Listed 24 Developing Countries That Qualify As Strong Emerging Markets, But Few, If Any Of The Reports Include Real In-Country Experience. Each of Hudson Fulton’s Principal Officers Have Served With Both Boots And Wingtips On The Ground In The World’s Leading Frontier Markets. Our Leadership Team Have Served In The Military, Diplomatic and Intelligence Services. They Have Lived And Worked In Over 75 Countries, Primarily In Frontier or Emerging Markets. Since Retiring Or Leaving Government Service The Principles Of Hudson Fulton Have Launched And Successfully Operated Businesses In Some of The Countries Listed In The Morgan Stanley Report.

leadership team

Ed Bollen – Co-Founder, Director OF Operations

Ed Served 33 Years With The U.S. Government, First As A U.S. Marine, Then With The Intelligence Community And Finally As A Commissioned Senior Service Foreign Officer.  Upon Retiring Mr. Bollen Founded Paladin Resolutions, A Global Research And Security Advisory Company For Corporations And Organizations That Travel To, Work In Or Invest Into Frontier And Emerging Markets.   

Paladin Resolutions Also Provides Intelligence-Based Safety Evaluation And Security Assessments To Companies Working In Foreign Markets. The Company Is Comprised Of Veterans From U.S. Intelligence Community, Military Special Operations, Federal Law Enforcement And Private Practice Security Professionals. These Seasoned Operations Teams Approach Problems With A Unique Mindset; They Adapt, Improvise And Overcome To Resolve The Issues.  They Have Served As Special Advisers To Foreign Militaries & Indigenous Government Officials And Work Exceptional Well With Professional Organizations. They Focus On Detail, They See The Possibilities, Flaws, Opportunities & Mistakes In Everything They Do.  They Apply That Same Attention To Detail When Studying Markets, Business Opportunities And Investment Projects Or An Adversary.

Ed Has An Undergraduate Degree From Florida State University And Graduate Degree From The College Of William & Mary.

Philip Verges – Co-Founder, Executive Director

Philip Is A Graduate Of The United States Military Academy At West Point.  After 10 Years In Uniform, He Went To Work For Electronic Data Systems (EDS) As A Mechanical Engineer.

Philip’s Frontier Market Business Development Experience Was Built On “New Market Technology”, His Technology Firm Founded In 1997. The Company Grew To Over $130 million In Annual Sales, With the majority of Those Sales Coming From Emerging And Frontier Markets.  

In 2006, New MArket Technology was ranked as the 5th fastest growing technology firm in all North America on the Deloitte Technology Fast 500.  In 2008, Philip was an Ernst and Young Entrepreneur of the Year Finalist. 

In 2010, Philip Founded the Small Equity Initiative, A Global Advocacy And Services Group To Service And Assist Small And Medium Enterprises Coming Out Of Emerging And Frontier Markets. The Small Equity Initiative Brings To Hudson Fulton Active Projects In Brazil, Chile, Colombia, Venezuela, China, and Kenya.  Past Small Equity Engagements Include Projects In Mexico, Panama, Honduras, Ethiopia, Tanzania, Vietnam and Malaysia. 

In Conjunction With Philip’s Work With The Small Equity Initiative, He Was Named To A United Nations Advisory Board And Served As A Board Member Of Honduras Hope, An Organization Fostering Economic Development Investment In Honduras.  In Recognition For His contracting Work With The U.S. Government, Philip Is A Recipient Of The “Earl Warren Award” for Outstanding Public Service To The United States Government.

Randy Torno – Co-Founder, Director Of Plans

Randy Has Been Working On The Ground In The Middle East Or Africa Since 2007.  He Was Recalled To Active Duty As A Lieutenant Colonel In The U.S. Army And Deployed To Iraq In 2007.  He Received The Bronze Star In The Course Of His Combat Tour.  After Finishing His Tour In Iraq, Randy Was Requested By Name For Duty In Addis Ababa, Ethiopia, A Deployment Lasting 3 Years.  He Retired From The Army In 2011 And Was Shortly Thereafter Contracted By Northrop Grumman (NGC) And Other Companies To Work In Africa On A Myriad Of Projects In Countries From Senegal To South Africa.

In Ethiopia, Randy Served As The Senior U.S. Advisor To The Ethiopian National Defense Force’s Defense Command And Staff College (EDCSC).  On The Surface, Randy’s Team Assisted In Training Ethiopian Senior Officers In Strategic, Operational And Tactical Battle Planning And Execution.  More Importantly, Randy Was Tasked With Building Bonds Between The U.S. And The Ethiopian Governments And Winning The Approval Of External Stakeholders Such As The UN And The Regional Ambassadorial Offices In Ethiopia. He Finished His Assignment In Ethiopia As The U.S. Embassy’s Chief Of Security Cooperation, Where He Drafted The U.S. – Ethiopia Bilateral Defense Agreement Of 2011. This Treaty Was The First Such Agreement Between The Two Countries Since 1974.

In Iraq, Randy Ran The Theater Transportation And Corps Logistics Support Elements Of The U.S. Government’s Logistics Civil Augmentation Program (LOGCAP) With Oversight For More Than $10 Billion Of Transportation Assets, As Well As Supply And Services Supporting 320,000 Soldiers, Sailors, Airmen, Marines And Civilian Personnel In The Combat Zone.

Since His Retirement From The Army, Randy Has Contracted As A Senior Peacekeeping Advisor Under The U.S. State Department’s Africa Contingency Operations Training And Assistance (ACOTA) Program. He Has Prepared Well Over 10,000 African Troop Contingents For Duty As UN Peacekeepers In Areas From Somalia To Darfur To The Congo. Randy Is A Hands-On Expert In Africa With Experience In Multiple Countries Across The Continent.

Randy Commissioned As An Army Officer In 1987 After Graduating From The University Of South Dakota With A Bachelor’s Degree In Journalism. He Continued His Army Career In The Reserves Serving In An Escalating Series Of Key Roles Through Multiple Re-Organizations Of The Reserves’ Force Structure Between 1995 And 2006.  Randy Is A Graduate Of The U.S. Command And General Staff College At Fort Leavenworth, Kansas And The Joint Forces Staff College In Norfolk, Virginia. He Holds A Master’s Degree In Public Policy And Political Economics And Phd In Public Policy And Political Economics From The University Of Texas. 




Hudson Fulton conducts overview and orientation presentations to familiarize investment firms on the general Frontier Market investment opportunity and the approach to sourcing, assessing and engaging a Frontier Market investment.  Presentations are periodically scheduled and listed here.  Presentations can also be customized to suit specific interests and conducted privately.

Hudson Fulton also periodically orchestrates Frontier Market Trade missions escorting a small contingent of investors on targeted trade missions into various Frontier Markets to view first-hand the investment opportunity and environment within particularly promising Frontier Markets.  Upcoming Trade Missions will be listed here.  Private Trade Missions customized to suit specific interests can be arranged on short notice.

News & Updates

Portfolio Investing in Sub-Saharan Africa

Managing Director Randy Torno, in conjunction with his PhD work on Public Policy and Political Economy, has published a research paper on Portfolio Investment in Sub-Saharan Africa.  

The paper analyzes the viability of increased equity and portfolio investing in sub-Saharan Africa providing an explanation of the differences between foreign direct investment (FDI) and equity investing.  Selected examples of FDI projects in sub-Saharan Africa, either ongoing or proposed, are included. The paper further provides an overview of selected stock market activities and exchanges operating in sub-Saharan Africa. The analysis details obstacles and opportunities for equity investment.  Contact the Company to learn more.

Check back soon for news and updates on ongoing and future projects.