Background

Prior to founding Towneley in 1971, Dr. McCain was an assistant professor of finance at Columbia University’s Graduate School of Business Administration. He is the founder and former chairman of Eclipse Financial Asset Trust and a former senior managing director of New York Life Investment Management, LLC. He has also served as a director of two insurance companies, one industrial company and several mutual funds. He is a past public governor and independent director of the PCX Stock & Options Exchange, PCX Equities, NYSE Arca, Inc. and the NYSE Arca Equities, Inc. Dr. McCain holds the Chartered Financial Analyst® designation. He earned a B.B.A. from the University of Michigan, an M.B.A. from Columbia University and an M.A. and Ph.D. from Stanford University.