Mary F. Anderson, President

Mrs. Anderson is president of First Fiduciary and is responsible for overalll planning, operations and administration for the firm. In addition, she serves as a portfolio manager and member of the investment team. Mrs. Anderson has been with First Fiduciary since 1993. She has over 25 years of experience in investment management. Before joining First Fiduciary, she was a portfolio manager at Rapaport Capital Management where she specialized in large-cap equity management. Prior to that, Mrs. Anderson worked for 10 years at Roulston & Company, where she was a sell-side investment research analyst and subsequently a portfolio manager. As a sell-side analyst, Mrs. Anderson performed detailed evaluations of publicly traded companies, writing extensive research reports that were sold to large investment management firms worldwide. Mrs. Anderson is a Chartered Financial Analyst (CFA) charterholder. She is a past treasurer of the CFA Society of Cleveland, where she is currently a member. Mrs. Anderson served on the board of Marycrest (a group home for troubled youth) in Independence, Ohio. She holds a B.B.A. from Cleveland State University. Mrs. Anderson enjoys baroque music, baking, involvement with her daughter's Girl Scout troop and time spent with her family.

William S. Henry, Managing Director

Mr. Henry is a managing director and a portfolio manager, responsible for security research, selection and portfolio monitoring as a part of the investment management team. He has over 22 years of experience in equity and real estate investment. Prior to joining First Fiduciary, he successfully managed North Ridge Development, a diversified real estate investment corporation. As a partner with Clarion Capital, Mr. Henry focused on uncovering investment opportunities in both public and private companies, preparing institutional investment research and managing portfolio investments. Mr. Henry was formerly an analyst with the First Boston Corporation (Credit Suisse) where he served as a financial advisor to the City of New York and structured financings for numerous hospitals and housing authorities. In addition, Mr. Henry was an associate in Citicorp's real property services group. He has served on the boards of the Boys & Girls Clubs of the Western Reserve, Children's Services of Cleveland, the Akron Art Museum and Old Trail School, and he is currently a trustee of the Old Trail School Foundation. Mr. Henry holds a B.S. with Distinction from Cornell University and earned an M.B.A. from Harvard Business School. Mr. Henry is an avid photographer. His photos have appeared in numerous publications and his work has been exhibited at the Cleveland Museum of Art. Mr. Henry enjoys tennis, skiing and Krav Maga.

Darian H. Chen, Managing Director

As a managing director and equity and fixed income portfolio manager, Mr. Chen is part of a team that evaluates and monitors companies for inclusion in First Fiduciary's portfolios. He began his career in investment management in 1996 as an analyst with Gelfand Partners where he researched and valued equities for the firm's value-oriented portfolios. He then worked for five years as a portfolio manager at First Fiduciary where he managed accounts and continued to focus on bottom-up analysis of companies for First Fiduciary's conservative, value-oriented portfolios. Mr. Chen later served as a Managing Director at Gratry & Company where he focused on international equities employing a top-down macro-oriented research investment process. Most recently, he was Chief Investment Officer at Sequoia Financial Advisors with primary responsibilities for asset allocation and manager selection. Mr. Chen is a CFA charterholder and teaches portions of the CFA Review curriculum at Cleveland State University. He is also a member of the CFA Society of Cleveland and has a B.A. in economics with honors from Yale University and a B.S. in Electrical Engineering from The Ohio State University. Mr. Chen's hobbies and interests include playing the piano, attending live theater, running, and cultivating orchids and aquatic plants.

Ivan Gelfand, Fixed Income Adviser

Mr. Gelfand, is advisor to and manager of our fixed income accounts. He is known to many as the “father of institutional cash management" and has over 50 years of investment experience. In 1975, he founded Gelfand, Quinn & Associates, Inc., a cash management firm that he later sold to Prudential Bache, Inc. In 1990, Mr. Gelfand founded Gelfand Partners Asset Management and in 1997 merged with Maxus Investment Group in 1997. Maxus was then merged with Fifth Third Bank. Mr. Gelfand is a popular speaker, writer, lecturer and instructor. He is a frequent guest on national and local radio and television broadcasts and has authored investment articles for national and local publications as well as a book on personal finance. Mr. Gelfand has guest lectured on money management and investment subjects at the graduate and doctoral levels at Florida Atlantic University, Case Western Reserve University, Baldwin-Wallace College and, most recently, the University of Dublin, Ireland. Mr. Gelfand is past President of the Cleveland Association for Business Economics. He is a graduate of Miami University, Oxford, Ohio with a B.S. in Business. He is also a graduate of the Columbia University School of Banking and attended graduate school at Case Western Reserve University. Visit ivangelfand.com for more information about Ivan.