Hortense Friedman, CFA, Award For Excellence

Hortense Friedman was a well-known member of the Chicago-area investment community. She was affiliated with the University of Chicago between 1922 and 1969, where she was involved with investments for the Endowment Fund and helped pioneer a number of new investing initiatives. Hortense, along with 11 others, was a founding member of what was formerly the Investment Analysts Society of Chicago, and she served on the first Board of Directors. She was a member of the Institute of Chartered Financial Analysts and was awarded the CFA designation in 1964 (Charter Number 354).

The Hortense Friedman Award, named in her honor, is presented at the CFA Society Chicago Annual Dinner by the Board of Directors to a member of the Chicago-area investment community who has demonstrated initiative, leadership, and a commitment to professional excellence. The past award winners are:


2000: J. Parker Hall, III, CFA
2003: Jon T. Ender, CFA
2004: William S. Gray, III, CFA
2005: C. Reed Parker, CFA
2006: Kenneth R. Meyer, CFA
2006: William C. Norby, CFA (posthumous award winner)
2007: Michael L. McCowin, CFA
2007: Mary Petrie, CFA (posthumous award winner)
2008: Frank Helsom, CFA
2008: M. Dutton Morehouse, CFA (posthumous award winner)
2009: Frank K. Reilly, CFA
2009: William A. Cornish, CFA (posthumous award winner)
2010: Gary P. Brinson, CFA
2010: Corliss D. Anderson, CFA (posthumous award winner)
2011: Philip E. Arnold, CFA
2011: Raymond J. Sidney (posthumous award winner)
2012: Jeffrey J. Diermeier, CFA
2013: James Stirling, CFA
2013: Brierly Anderson, CFA (posthumous award winner)
2014: Ralph Wanger, CFA
2015: Priscilla Perry
2016: Richard Ennis, CFA
2016: George Norton, CFA (posthumous award winner)
2017: Larry Lonis, CFA
2017: Robert Harper, CFA (posthumous award winner)
 

 

J. Parker Hall, III, CFA

Parker Hall served as the Chairman and a Managing Director of Lincoln Capital Management Company, a privately-owned investment management firm with assets of over $69 billion and 117 institutional clients. He joined the company in 1971 after spending five years at the Harris Trust and Savings Bank as the director of investment research and head of retirement fund investments.

Mr. Hall was awarded the Chartered Financial Analyst designation in 1967 and served as President of the CFA Society Chicago from 1972-73).

Mr. Hall has published numerous articles, including 10 submissions to the Financial Analysts Journal. He has spoken at many conferences, including those sponsored by the CFA Institute and The Vanguard Group.

 

Jon T. Ender, CFA

Jon T. Ender, CFA, founded the Asset Management Group in 1975. Previous to this, he worked in investment banking, investment research and portfolio management and as Assistant to the President of The Chicago Corporation from 1973 to 1975.

Mr. Ender was President (1992-1993) and served on the Board of the Investment Analysts Society of Chicago. Mr Ender is on the Advisory Board for the Center for Research in Security Prices at the University of Chicago and for IIT’s Stuart School of Business. Mr. Ender is on the Admissions Committee of the Association for Investment Management and Research and is a Director of the Brain Research Institute of the University of Chicago, The Chicago Commons Association, CAPM, Inc., the University Club Foundation, and McCormick Theological Seminary, where he is Vice Chairman.

Ender graduated with a B.A. in Economics and Literature from Harvard University and received an M.B.A. from the University of Chicago.

 

William S. Gray, III, CFA
Bill Gray joined the Harris Trust and Saving Bank in 1950 and retired in 1985 after serving as the Group Executive of the Trust Investment Systems Group for five years (1980-1985). Mr. Gray became a Chartered Financial Analyst in 1965.

Mr. Gray served in many leadership roles within the CFA Society Chicago, including: Secretary (1960-1961), Vice President (1964-1965), President (1965-1966) and Director (1964-1969). In addition, Mr. Gray served as Chairman of the Board of Directors of the Financial Analysts Federation (1975-1976). Mr. Gray has been published in the Financial Analysts Journal and in the Journal of Portfolio Management. He served as Associate Editor of the Financial Analysts Journal and was an ad hoc advisor to the Investment Analysis Standard Board for the publication of the "Standards of Professional Conduct Handbook".

Mr. Gray was instrumental in cataloging and documenting CFA Society Chicago's history.

 

C. Reed Parker, CFA
C. Reed Parker, CFA, enjoyed a long career in Chicago's investment community with accomplishments both at his own firm and for local and national professional investment organizations. Reed was a high-ranking officer at Duff & Phelps, with leadership roles in both its equity research and credit rating units.

Mr. Parker served the broader investment community via his tenures as President of the CFA Society Chicago (1967-1968) and chair of the Board of Governors for the national Financial Analysts Federation (1970-1971).

Mr. Parker has also been published in the Journal of Accounting Research.

 

Kenneth R. Meyer, CFA
Mr. Meyer sat on the CFA Society Chicago Board of Directors from 1989 to1992. He was an active participant whose opinion was greatly valued. Mr. Meyer contributed to the industry at a national level through numerous articles and presentations. Most importantly, his ethical leadership has been a credit to the community.

Mr. Meyer was the head of the fixed income division of the Harris Bank and later became a Senior Vice President responsible for the Bank's Institutional Trust Group. In 1981, he founded Lincoln Capital's fixed income business before being named Chairman and CEO. Mr. Meyer retired in 2004.

 

William C. Norby, CFA
Mr. Norby was among the Chicago leaders who made major contributions to the development of the Financial Analysts Federation (FAF) in 1947. The FAF was the industry's first professional organization and Mr. Norby served on its Board of Directors and on many committees. From 1955-1956, Mr. Norby served as President of CFA Society Chicago.

Mr. Norby was the head of the Financial and Economic Research Department at Harris Bank in the 1950s and 1960s. Mr. Norby passed away in 1999 at the age of 84 and is the first posthumous recipient of the Hortense Friedman, CFA, Award for Excellence.

 

Michael McCowin, CFA
A former President of CFA Society Chicago (1987-1988), Mr. McCowin also sat on the CFA Society Chicago Board of Directors as Secretary (1983-1984), Vice President (1986-1987), and finally as a Director (1988-1989). Mr. McCowin was a founding governor of the Association for Investment Management and Research (now CFA Institute), and later served as Chair of the Board of Governors of the Institute of Chartered Financial Analysts (1991-1992). He was granted the C. Stewart Sheppard Award for his distinguished service to the profession in 1993.

Mr. McCowin became the Chief Investment Officer for the Wisconsin Investment Board in 1996. Prior to this, he worked for 18 years for the Harris Trust & Savings Bank, most recently as Senior Partner in charge of equity investments for Harris Investment Management, the bank's investment management subsidiary. Mr. McCowin retired in 1999.

 

Mary Petrie, CFA
Ms. Petrie was the first female to serve as President of CFA Society Chicago in 1970-1971, the same year in which Chicago's educational program to prepare candidates for the CFA exams was recognized as one of the best in the country. She also sat on the Board of Directors (1968-1974). In addition to having served as a trustee of the Institute of Chartered Financial Analysts (mid-1970-mid 1976), and as its president (1973-1974), Ms. Petrie was also an officer and trustee of The Financial Analysts Research Foundation.

Beginning in 1956, Ms. Petrie began a long career at the University of Chicago, where she started as a Senior Security Analyst, and was later appointed Assistant Treasurer in 1966, Associate Treasurer in 1973, and finally, Treasurer and Chief Investment Officer in 1974. Ms. Petrie passed away in 1995 and is the second posthumous recipient of the Hortense Friedman, CFA Award for Excellence.

 

Frank Helsom, CFA

A former President of CFA Society Chicago (1985-1986), Mr. Helsom also served on various committees of the Society over the years. During his tenure of active service to the local Society, Mr. Helsom undertook a number of initiatives, including hosting the Financial Analysts Federation's (FAF) Annual Convention and producing a strategic plan. Mr. Helsom was not only active locally, but he also served on the Board of the FAF (1987-1988): he was instrumental in the process that resulted in the merger of the FAF and CFA Institute, and he was also involved in various programs, including the CFA Society's Continuing Education Seminar program.

Mr. Helsom was with Chicago Title & Trust as an analyst and portfolio manager, and he managed Citicorp's Chicago Investment Office where he was business head and senior portfolio manager. He was also Chairman & CIO of Templeton Portfolio Advisory and served as President & CEO of Bessemer Trust Company. Mr. Helsom is currently retired.

 

M. Dutton Morehouse, CFA

Mr. Morehouse's accomplishments are legendary: he was personally involved in many of the significant developments of the Federation's history, beginning with the organization of the Federation (1947); the organization of the Financial Analysts Federation's (FAF) first educational program – the Seminar (1955); the forward thrust of the CFA program (late 1950's); and the organization of the Research Foundation (1965). During almost thirty-five years of membership in CFA Society Chicago, Mr. Morehouse occupied all the important chairs in national and local activities for the FAF, including a term as President (1954-1955) and as the First Chairman of the Seminar Board of Regents (1956). He was also a founding member and served as President of the Institute of Chartered Financial Analysts (ICFA) (1965-1966). Mr. Morehouse joined the local society (mid-1930's), serving a variety of roles in the Society, including President (1947-1948), as well as Director and active committee head at various times over the years.

Not only has Mr. Morehouse given much service to the FAF, but he has also been prominent as a professional investor. At Brown Brothers, Harriman, he contributed to the formulation of investment policy as portfolio manager for major institutional individual clients of the firm and also as a business economist.

 

Frank K. Reilly, CFA

A former Director of CFA Society Chicago (1988-1989), Dr. Reilly is the Bernard J. Hank Professor of Finance for the Mendoza College of Business at the University of Notre Dame, where he previously served as the Dean (1981-1987). Dr. Reilly is an expert in security analysis, capital markets, credit analysis and security market indexes. He teaches courses in applied investment management, capital budgeting, fixed income analysis and investments, among others. He has also taught an executive course in bond analysis and credit management twice a year for nearly 30 years. Prior to this, Dr. Reilly was a professor at the University of Illinois at Urbana-Champaign, the University of Wyoming, and the University of Kansas.

His professional experience includes a position as a stock and bond trader for Goldman Sachs & Company. He is a former president of the Financial Management Association, the Eastern Finance Association, and the Midwest Finance Association. Dr. Reilly served as a CFA Exam grader twelve times and subsequently was on the Council of Examiners for six years. He served as the Chairman of the Board of Trustees of the Institute of Chartered Financial Analysts and a term as the Chairman of the Board of Governors of the Association of Investment Management and Research. More recently, he was the Chairman of the Board for the Financial Analysts Research Foundation and continues on that Board and on the CFA Education Advisory Council.

Honors and awards include the Alumni Excellence in Graduate Teaching Award and the Outstanding Educator Award from the M.B.A. class at the University of Illinois and the Outstanding Teachers Award from the M.B.A. class at the University of Notre Dame, as well as the Faculty Award from the University of Notre Dame, which is the highest award given to faculty members. He has also received both the C. Stewart Sheppard Award for his contribution to the educational mission of the CFA Program and the Daniel J. Forrestal III Leadership Award for Professional Ethics and Standards of Investment Practice, given by the CFA Institute. He was inducted as a Fellow of the Financial Management Association in its inaugural group and recently received the Lifetime Achievement Award from the Midwest Finance Association. He is a member of the CFA Society Chicago and CFA Institute.

 

William A. Cornish, CFA

A former President of the CFA Society Chicago (1976-1977), Mr. Cornish dedicated significant efforts to his profession. After his local tenure, Mr. Cornish moved to the national stage, serving as President of the Institute of Chartered Financial Analysts (1979-1980). In the early 1980s, Mr. Cornish was one of nine individuals who were given special recognition for their efforts in creating the first Standards of Practice Handbook - a collaborative project interpreting the Code and Standards in order to define private self-regulation, which was undertaken by a joint committee consisting of the FAF Investment Analysis Standards Board (IASB) and the Institute of Chartered Financial Analysts Professional Ethics Committee (PEC). In addition, he was the recipient of the C. Stewart Sheppard Award (1983) in recognition of his outstanding contributions towards advancing the CFA program's Body of Knowledge.

In addition to his important roles at the institutional level, Mr. Cornish had an illustrious career at Duff & Phelps Inc. and various predecessors and progeny. He became director of research at the Industrial/Financial unit of Duff & Phelps after a stint as head of the technology sector, and later moved to the newly established Duff & Phelps Credit Rating Company, where he was the creative force behind this bold effort and served as its leader for many years. Mr. Cornish passed away on October 30, 1997.

 

Gary P. Brinson, CFA

A former Director of CFA Society Chicago (1983-1986), Mr. Brinson is President of GP Brinson Investments, Founder of Brinson Partners, Inc., and is a nationally recognized authority on global investing. He is the co-author of two books on global investing, has authored numerous articles on an array of investment topics, and has lectured and contributed to educational and professional investment forums over the past thirty years.

Mr. Brinson is a former Executive Committee member and past Chairman of the Institute of Chartered Financial Analysts. Throughout his many years of service, Mr. Brinson has made countless contributions to the Financial Analysts Journal and the CFA Digest, including articles such as "The Application of Investment Theory to the Asset Allocation Process" (1979), and "U.S. Equity Returns from Colonial Times to the Present" (1993). Mr. Brinson has also been an active participant in the "Continuing Education" program, presenting five times over a 20 year period, more than any other member or participant.

Mr. Brinson's dedication to journalism extends beyond publications and presentations: he is currently a member of The Financial Analysts Journal Advisory Council, as well as a former member of the Advisory Council for the CFA Centre for Financial Market Integrity. In 1991, Mr. Brinson was named the "Outstanding Financial Executive" by the Financial Management Association, and was also awarded the Award for Professional Excellence from the CFA Institute (1999). In April of 2008, Mr. Brinson was inducted as a lifelong Member of the Horatio Alger Association of Distinguished Americans. After his retirement in 2000, Mr. Brinson, along with his wife and two daughters, created The Brinson Foundation, a philanthropic organization that funds charitable grants with a focus on support in the area of education, science, and public health.

Mr. Brinson received his B.A. in Finance from Seattle University and his M.B.A. from Washington State University. He is a member of CFA Society Chicago and CFA Institute.

 

Corliss D. Anderson, CFA

The first CFA Society Chicago President (1937-1938) to be awarded the CFA designation, Mr. Anderson was a pioneer who made noteworthy contributions within the investment and academic communities, as well as within our local society and on a national platform. He was a member of the Institute of Chartered Financial Analysts (ICFA) "Initiating Group" (1937-1938), and also served as an original member of the Council of Examiners (COE). After his tenure as President, Mr. Anderson became a founding partner of Duff, Anderson and Clark (DA&C), sister firm to Duff and Phelps (D&P). DA&C was created in 1945 to extend the original D&P utility coverage that had been established in 1932 to industrial and financial stocks; these firms were later combined under the original name of Duff and Phelps.

In 1959, Mr. Anderson led a project for the National Federation of Financial Analysts Societies' (NFFAS) Corporate Information Committee (CIC), resulting in the publishing of "Corporate Reporting for the Professional Investor" (1962), as well as its distribution to all FAF societies and the presidents of over 3,000 corporations. Mr. Anderson subsequently proceeded to serve as Chairman of the CIC (1963-1964). In addition, he was the recipient of the Distinguished Service Award (1983) from the Association for Investment Management and Research (AIMR) for his exceptional contributions to the national organization through leadership and service over many years.

 

Philip E. Arnold, CFA
Philip Arnold led the Chicago Society during a challenging and tumultuous period during which some financial concerns within the national Financial Analysts Federation (FAF) coincided with the increasing reputational and financial success of its progeny, the Institute of Chartered Financial Analysts (ICFA) that had been formed by the FAF to create and administer the CFA program. The two organizations were combined under the new banner of Association for Investment Management and Research (AIMR). This process raised the issue of what credentials were required for full membership, a full CFA, as Chicago, Boston and some others required, or passage of CFA level I plus some experience achievements, as New York preferred. This merger was no mere rubber stamp issue, and Arnold was leading the Chicago charge at the time. Subsequently, AIMR was renamed CFA Institute, and the Investment Analysts Society of Chicago (IASC) took the designation CFA Society Chicago.

Arnold has a wide-ranging background in the investment world. From 1961-69, he was part of the management group which handled the endowment and other investment assets of Northwestern University. In 1970, he helped form an investment advisory firm where he supervised all research and portfolio activities. After building up this firm, he coordinated its sale in 1978 to a major money center bank. After completion of the earn-out with this bank in 1981, he and another senior partner of the firm co-founded a new investment firm in Chicago, where Arnold served as the President and Chief Investment Officer for many years. With approximately $500 million in assets under management, the firm was sold in 1986 to United Asset Management--a NYSE holding company that owns over 40 autonomously managed investment advisor firms. Arnold retained a key management position with this firm until he joined Hartline in July 2000, where he now holds the position of managing director.

Arnold has been an active volunteer and leader with the CFA Society Chicago. In addition to holding the positions of President in 1988-89 and Immediate Past President in 1989-90, he was a Director from 1985-87, Vice President in 1987-88, and Director from 1990-93.

Arnold graduated from Northwestern University in 1959 with a B.A. in Mathematics. He received an M.B.A. from The Kellogg Graduate School of Management at Northwestern University with a major in Finance and Investments.

 

Raymond J. Sidney

Raymond Sidney was the instigator of a small group of statisticians in 1923 that laid the foundation for the formation of the Investment Analysts Club of Chicago (IASC). At the time, he was associated with Federal Securities Corporation. His interest in bond ratings prompted him to become acquainted with colleagues in the three agencies that rated bonds at that time. Sidney also knew many of his counterparts in the underwriting banks and bond houses. He gathered a small group of acquaintances including Hortense Freidman and helped established luncheon meetings where they exchanged ideas about securities. Their discussion was confined largely to bonds because investors in the Midwest had a strong preference for bonds (vs. stocks) at that time.

By 1925, eight to ten people attended the luncheon meetings on a somewhat regular basis, and they became more formal in nature. It was at one of these meetings, held at the old Great Northern Hotel, that the Investment Analysts Club of Chicago was founded with 16 members. It was the first such organization in the United States, and, in fact, in the world, and dues were only $2. By-laws were adopted and Sidney became the first president.

Chicago has always maintained a position of leadership, beginning with the creation of the first society under Sidney in 1925 and continuing with the 1947 meeting with societies from New York, Boston and Philadelphia to create the FAF. Ultimately, the FAF created the CFA Program, and restructuring continued during the terms beginning with Phil Arnold as described above.

 

Jeffrey J. Diermeier, CFA
Jeffrey Diermeier, CFA, is the past President and CEO of CFA Institute and the former Global Chief Investment Officer of UBS Global Asset Management. He worked with UBS and its predecessors (primarily Brinson Partners) for almost 30 years, in various positions including Deputy CIO, Co-Head of Global Equities, Head of US Equities and Head of Asset Allocation. Diermeier was one of the founding Managing Partners at Brinson Partners, Inc. In his investment roles on the buy side his duties were focused on active asset management for institutional clients.

Diermeier is currently engaged in a range of activities; he is Chairman of the Financial Accounting Foundation Board of Trustees who oversees the FASB and GASB, is Chairman of L.B. White Company, Inc. and Hospitality International, an Onalaska, WI based producer of heaters for the agricultural, construction, greenhouse and tent markets as well as hospitality products, he serves on the public company Board of Janus Capital Group, is on the Board of Chicago based private equity firm Adams Street Partners, chairs the Investment Committee of the University of Wisconsin Foundation, is a minority owner and Advisory Committee Chair of Stairway Partners a multi-asset manager, is Co-Trustee with his wife Julie of the Diermeier Family Foundation, and is a member of the President's Board at UCAN a Chicago based troubled youth development organization. In addition, he serves on CFA Society Chicago's Leadership Council and Governance and Nominating Committee.

He previously served on the Board of Governors of CFA Institute, on the Board of CFA Society Chicago, was a member of the SEC's Committee on Improvements to Financial Reporting (CiFIR), the University of Wisconsin's Business School Board of Advisors, the University of Chicago Investment Committee, the Board of XBRL-US, the Q-Group board, the Investment Analysts Society of Chicago Board and was Chair of the Hinsdale Hospital Foundation among others.

Diermeier has received leadership awards from CFA Institute (Pete Morley Distinguished Service Award) and the University of Wisconsin Business School (Distinguished Business Alumnus Award). His published research has received awards from the Financial Analysts Journal (two Graham and Dodd Scrolls for work on capital markets and international security pricing) and the Q-Group (Roger Murray Award for research on asset allocation). He has also endowed the Diermeier Chair in Finance at the University of Wisconsin. Diermeier holds a BBA and an MBA from the University of Wisconsin at Madison.

 

James Stirling, CFA
James Stirling, CFA, joined Kidder Peabody's (now UBS) Investment Banking Department in 1965 and is currently Chairman of the UBS Midwest Advisory Board and Chairman of the Board of a private Lake Forest corporation. During a sabbatical from Kidder Peabody, he served as assistant to U.S. Secretary of Commerce, Elliot L. Richardson, and also worked in London in international investments. Stirling graduated from Princeton in 1963 and received an MBA from Stanford University two years later. He studied in a post MBA program at the University of Chicago and became a Chartered Financial Analyst in 1971.

Memberships, Affiliations, Honors & Awards:

  • Director, CFA Society Chicago
  • Founding Chairman, CFA Society Chicago Leadership Council
  • Executive Council, Metropolis Strategies
  • Chairman of the Board, Northwestern Memorial Management Corporation
  • Director, Northwestern Memorial Hospital
  • Vice Chairman, Northwestern Memorial Foundation
  • Founding Chairman, Professional Council for Philanthropy
  • Past Director, Teachers Academy for Mathematics and Science
  • Past Chairman, Major Corporate Division, United Way/Crusade for Mercy
  • Trustee, Chicago Symphony Orchestra
  • Past President, Chicago Symphony Orchestra Junior Governing Board
  • Life Member, Visiting Committee, Music Department, the University of Chicago

 

Brierly Anderson, CFA (posthumous)
Brierly (Bri) Anderson, CFA, was a long-time prominent member of our financial community while also contributing importantly on a national platform in raising the professionalism of the investment process. He was a graduate of Amherst College and received an MBA from Northwestern University. His professional career began at William Blair & Company and continued at his own firm, Brierly W. Anderson & Associates, which he operated for more than 25 years. Notably, he was the son of Corliss Anderson, who was also a posthumous Hortense Friedman Award winner and was also founder of a firm, Duff, Anderson & Clark, which was later merged into Duff & Phelps. Bri Anderson served as President of the CFA Society Chicago during the 1973-1974 period. He was also among a group of nine individuals from across the global investment community who created the Standards of Practice Handbook, which was a joint effort of the Financial Analysts Federation and the Institute of Chartered Financial Analysts, the predecessor organizations to the national CFA Institute. Two other Chicago members also served on that national committee, William A. Cornish and William S. Gray, both of whom have also been honored with Hortense Friedman Awards. Anderson also chaired the Council of Examiners for two years during the 1976 to 1978 period as the CFA testing effort continued to grow in prominence.

 

Ralph Wanger, CFA
Ralph Wanger began his investing career with Harris Associates in Chicago in 1960. He worked as a securities analyst and portfolio manager. Acorn Fund was started in 1970. He was its portfolio manager and president, a position he held until his retirement. In 1992, he did a lift-out of Acorn into Wanger Asset Management. Acorn Fund, now Columbia Acorn, had the best 40-year performance of any mutual fund 1970-2010.

He writes a column for the CFA Magazine, a continuation of his "Squirrel Chatter" essays in his Acorn quarterlies. His book "Zebra in Lion Country" was published in 1997. He has given many speeches at CFA Society meetings. Ralph became a CFA in 1967.

In 2008, he founded the Wanger Institute for Sustainable Energy Research at the Illinois Institute of Technology. He is on the board of IIT, Jewish Federation of Chicago, and the Museum of Science and Industry.

Ralph is now a full-time museum exhibit. At the Museum of Science and Industry, Ralph is now Charlie Hogan, an engineer for the New York Central and Hudson River Railroad's locomotive #999. Charlie Hogan was the first human being to travel over 100 miles per hour pulling the four-car Empire State Express at 112.5 mph in 1893.

 

Priscilla Perry
Priscilla Perry was a long-time investment analyst at Harris Bank. Her willingness and ability to lead by example helped soften some perceived gender barriers by her active involvement in a profession that was still largely male at the time. While she may not have thought of herself as a pioneer, in many ways she was just that, following in the footsteps of Hortense Friedman herself, as well as, another Hortense Friedman Award winner, Mary Petrie.

In the late 1950's few major business school graduate programs accepted women. Priscilla chose an unusual one, The Harvard-Radcliffe Program in Business Administration. Courses were taught by Harvard while Priscilla lived on the Radcliffe campus. During this time, Harvard Business School was an all-male institution in terms of granting degrees such as an MBA.

Priscilla was the second woman to be awarded a CFA designation in Chicago in 1966 after completing three exams.

Professionally, Priscilla was a Consumer Analyst at both Lincoln National and Harris Bank. In the mid 1960's the Investment Analysts Society of Chicago (IASC) expanded by offering several new groups for industry specialists. Priscilla founded the Consumer Group in 1965 and chaired it until 1969. Priscilla served as President of the Investment Analysts Society of Chicago from 1981-1982. In a 90-year history that dates back to 1925, fewer than ten women have served as President/Chair of the Chicago Society. Priscilla was one of the first. She became active at a time when there were few female role models. Priscilla's willingness to take the top leadership role was an action that paved the way for other women to become actively engaged in the operations of the Chicago Society.

 

Richard M. Ennis
Richard Ennis co-founded Ennis Knupp & Associates in 1981. EnnisKnupp was an investment advisor to plan sponsors, endowments, foundations and governments, with assets under advisement of approximately $2 trillion when it was acquired by Aon Hewitt in 2010. Mr. Ennis retired then but continues to serve as a member of the Advisory Council of the Financial Analysts Journal.

Prior to the formation of EnnisKnupp, Mr. Ennis was with A.G. Becker in Chicago where he helped establish one of the first investment consulting practices in 1975. He began his career as a securities analyst with Transamerica in Los Angeles in 1970.

In addition to his work as a consultant, Mr. Ennis has conducted research on a wide variety of investment topics. His published work earned the Graham and Dodd Award and multiple Bernstein Fabozzi /Jacobs Levy Awards for excellence. Mr. Ennis served as editor of the Financial Analysts Journal from 2007 to 2010.

Mr. Ennis served as a director of the CFA Society Chicago and as a member of the Board of Regents of the Financial Analysts Seminar. The Investment Management Consultants Association honored him with its Matthew R. McArthur Industry Pioneer Award in 2007. CFA Institute recognized him in 2013 with the C. Stewart Sheppard Award for furthering the education of professional investors worldwide. Mr. Ennis earned a bachelor's degree from California State University Northridge (1968) and a master's degree from University of California, Los Angeles (1970).

 

George H. Norton, Jr., CFA

George H. Norton, Jr., CFA, began his career at The Harris Bank in 1936. After returning from military service in Europe, he worked for the finance department for Bowman Dairy in their Finance/Treasury department for six years before switching back to the banking world in 1952. Mr. Norton spent eight years at The Omaha National Bank in Omaha, Nebraska before returning to Chicago and then worked 20 years at The Continental Bank where he served as Vice President and Director of Portfolios in the Trust Investment Department. After retiring from The Continental Bank in 1980, Mr. Norton went on to join LaGrange Bank and Trust in LaGrange, Illinois as Vice President – Investments from 1980 to 1985. Mr. Norton served on the board of numerous corporations.

Mr. Norton was an active member of the Financial Analysts Federation and The Institute of Chartered Financial Analysts. He became a charterholder in 1963 and is a past president (1966-1967) of The Investment Analysts Society of Chicago (IASC), now known as CFA Society Chicago. As IASC President, Mr. Norton played an integral role in developing professional education and programming for IASC. Mr. Norton was also the founder and past president (1954-1956) of the Omaha-Lincoln Society of Financial Analysts. 

Mr. Norton was an active member of the Financial Analysts Federation and The Institute of Chartered Financial Analysts. He became a charterholder in 1963 and is a past president (1966-1967) of The Investment Analysts Society of Chicago (IASC), now known as CFA Society Chicago. As IASC President, Mr. Norton played an integral role in developing professional education and programming for IASC. Mr. Norton was also the founder and past president (1954-1956) of the Omaha-Lincoln Society of Financial Analysts. 

Mr. Norton was also an educator who taught money and banking at Omaha University, the American Institute of Banking, Omaha chapter, and at the Graduate School of Banking program at the University of Wisconsin. Mr. Norton earned several degrees including a bachelor’s degree from Denison University in 1935 and an M.B.A. from the University of Chicago in 1952. Mr. Norton, a WW II Veteran, received two Purple Hearts and two Bronze Stars. Mr. Norton passed away in 2002. 

 

Larry A. Lonis, CFA

Larry A. Lonis, CFA, has worked in the investment profession since 1989 for JP Morgan and predecessor companies, and more recently for Bank of America’s US Trust wealth management unit where his duties include serving as lead portfolio manager for a REIT equity strategy and leading the research efforts for publicly traded real estate. His current role also involves serving as chief operating officer for the specialty asset management unit which manages direct investments in oil and gas assets, farm and ranch assets, commercial real estate, timber, and private business assets. 

Mr. Lonis spent a number of years as a portfolio manager with management responsibility for client relationships worth over $1 billion in assets. His experience also includes management of assets for large philanthropic investors. During his tenure with these firms he has served as a member of the board of directors for a large private business company. 

From 1996-1997, Mr. Lonis served as Chairman of CFA Society Chicago. He served on the board of directors of the Society, has been the co-chair of the Society’s local CFA Research Challenge for the past several years, and served as a judge in the Americas Final and Global Final competitions. Mr. Lonis previously served as a CFA Institute retained speaker making presentations on Real Estate Investment Trusts to a number of local CFA societies. During much of his professional career, Mr. Lonis has focused on financial education including serving as a mentor for over 100 college interns, serving on the Finance Advisory Board of Illinois State University, making career presentations on investment management at a number of universities, and serving as an institutional board member for the Midwest Finance Association of college professors.

For more than 20 years, Mr. Lonis has been very active teaching graduate investment classes on an ongoing basis as an adjunct professor with DePaul University. He served in a similar capacity at the Illinois Institute of Technology’s Stuart graduate school and also spent over 20 years teaching in CFA training classes for both Stalla and a program sponsored by DePaul University. His international teaching experience includes CFA training programs in Bangkok, Thailand and Cologne, Germany, and investment training in Delhi, India.

Mr. Lonis earned a bachelor’s degree in marketing (1971) and a Master of Business Administration (1975), both from Northern Illinois University. In addition to the Chartered Financial Analyst designation, he holds both the Certified Public Accountant and the Chartered Global Management Accounting designations.

 

Robert Harper, CFA

Robert "Bob" Harper, CFA, grew up north of Chicago, where early in life, his family and friends fostered a natural tendency toward competitiveness, a deep sense of loyalty and a lifelong love of the outdoors and sports. He attended the University of Illinois to study finance and then earned his MBA from Northwestern University.

Mr. Harper began his professional life working for Stein Roe & Farnham where he served as a senior analyst and became a partner. Later, he joined Harris Associates as a founding partner, where he was the first director of equity research and the first institutional portfolio manager. In his 22 years at Harris, Mr. Harper was instrumental in developing the firm's early investment team and its processes - a pillar for a firm that has maintained and expanded its record of investment excellence. He maintained an investment record that remains a source of distinction to this day - a born contrarian; he took great pride in his record and his ability to outperform.

Upon retirement from Harris Associates, Mr. Harper maintained cadre of people around him that permitted him to invest as he liked and develop investors as he saw fit - later, this would develop into his seeding and supporting several boutique investment teams. He valued the professionalism of the investment process, mentoring of teams and the relationships that he developed with colleagues, in and out of the Investment Analysts Society of Chicago (now known as CFA Society Chicago). He would maintain a long relationship with the CFA Society Chicago and its predecessors. Mr. Harper served in a number of roles, presiding as Chicago chapter's president from 1994-1995. A lover of skiing, sailing, and car racing, he exhibited a passion for life and a tolerance for risk that afforded him the benefits of a well-lived, colorful personal life to match a distinctive professional life.

Mr. Harper packed a lot in over his 69 years. He would have liked to be here to toast with you as he deeply valued his relationships with many friends and colleagues here and around the analyst community in Chicago.