Richard Barone

Managing Director, Portfolio Manager

Richard 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.

Richard earned a Bachelor of Arts degree in Economics from Georgetown University. Currently, he serves as an Emeritus Director on the Board for the Cleveland State University Foundation. In July, 2011, he was elected Chairman of the Board of Directors for Mace Security International (MACE). Mace Security Interna­tional, Inc. is a manufacturer of personal defense and electronic surveillance products marketed under the famous brand name Mace®. Richard previously served on the board of Stephan Co. (SPCO). He continues to serve on the Boards of a number of other public and private companies and various charitable organizations.

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