RICHARD A. BARONE is Chairman of the Executive Committee for the Ancora Group of Companies. The Group includes Ancora Advisors LLC, Ancora Capital Inc., Ancora Securities Inc., the Ancora Mutual Funds and the Ancora Foundation. In addition, Mr. Barone oversees or manages a variety of investment strategies for the Group including the investments for the Ancora Funds, selected clients and the Group’s Hedge Fund, Merlin Partners.

Mr. Barone is the former Chief Executive Officer of Maxus Investment Group which he founded in 1973. Maxus became one of the oldest and largest privately held investment advisory and securities brokerage firms in the Midwest before it was sold to Fifth Third Bank in January, 2001. Since 1973, Mr. Barone has managed a variety of proprietary mutual funds as well as the investment portfolios for institutional clients and high net worth individuals.

Mr. Barone’s leadership in the investment industry spans more than 35 years. His performance and investment strategies have received extensive coverage in such publications such as Barron’s, The Wall Street Journal, Institutional Investor, Forbes, and on national television and radio. He continues to address audiences on a variety of investment topics.

Mr. Barone was born in 1942 and is a graduate of Georgetown University with a degree in Economics. He has undertaken extensive graduate studies and independent research at Georgetown University, Northwestern University and Case Western Reserve University.