Richard Barone is Chairman of the Board of The Ancora Group which he founded in 2001 as well as Chairman of the company’s Executive Committee. He founded Ancora in 2001 shortly after The Maxus Investment Group (which he established in 1973) was sold to Fifth Third Bank. Prior to the sale, Maxus was one of the largest privately held investment management firms in the Midwest. Although he has discontinued operational responsibilities for Ancora, Richard continues to manage a variety of investment strategies for The Ancora Funds as well as a select group of private wealth clients.
Over the years, his leadership in the investment industry has been well documented. He has played essential roles in the restructuring of public companies across the country and his investment performance and strategies have received extensive coverage in the media. He has been featured in well known publications such as Forbes, Barron's and the Wall Street Journal, and has appeared on national television and radio. He addresses audiences on a number of financial, political and economic topics.
After graduating from Gilmour Academy in Cleveland, he attended Georgetown University where he completed five years of study in four years. Richard graduated in 1964 with a Bachelor of Arts degree in Economics. Under the tutelage of Milton Freedman, he was accepted into the Ph. D program in Economics at the University of Chicago, but circumstances prevented him from attending.
Currently, Richard serves on the Board of Directors for the Cleveland State University Foundation. In July, 2011, he was elected Chairman of the Board of Directors for Mace Security International. Mace Security International, Inc. is a manufacturer of personal defense and electronic surveillance products marketed under the famous brand name Mace®. He continues to serve on the Boards of a number of other public and private companies and various charitable organizations.