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DAVID HAY

CHIEF STRATEGIST, PARTNER

David Hay has been employed in the securities industry since 1979 when he joined Dean Witter Reynolds, now Morgan Stanley. He rose to the position of Senior Vice President in 1983. In 1985 he was the youngest member to be elected to Dean Witter’s elite Chairman’s Council. David and his team joined Smith Barney in 1990 and were instrumental in establishing the Portfolio Advisory Program. Fulfilling the positions of Senior Vice President, Senior Portfolio Manager and Director, David also served on the Smith Barney Directors Advisory Group, gaining valuable experience in merger integration and client service enhancement. Leaving Smith Barney in 2002, David acquired a majority equity interest in ECM. He continues to serve his long-time clients as Chief Investment Officer with special emphasis in macro economic research.