Management
Our commitment to personalized service means that the members of our team are carefully selected with our clients in mind.
Charles A. Warden
Chairman & CEO
In 1982, Mr. Warden formed the various companies that have now become Mid Atlantic Capital Group, Inc. and its affiliates. Prior to 1982, he was associated with an international accounting firm where, in his last position as Tax Manager in the Pittsburgh office, he had principal account responsibilities for over 100 private and publicly registered investment companies, as well as various securities brokerage and financial services firms.
In 1990, Mr. Warden founded Pennsylvania Capital Bank, where he served in various capacities over the following 10 years, including Chairman and CEO. In 2001, Pennsylvania Capital merged with Three Rivers Bank (NASDAQ:TRBC), where he then served as a director and executive committee member until Sky Bank (NASDAQ:SKYF) acquired Three Rivers the following year. Also, Mr. Warden was a co-founder and Chairman of Mid Atlantic Institutional Shares, Inc., which from its formation in the mid-1990's grew to become one of the nation's largest money fund networks and mutual fund trading platforms, with in excess of $30b in assets of record, until its acquisition by Sungard (NYSE:SDS) in 2002.
Mr. Warden holds a B.S. in Engineering from the University of Pittsburgh, and an M.B.A. from the Joseph M. Katz Graduate School of Business at the University of Pittsburgh.
He is a Certified Public Accountant (inactive), a General and Municipal Securities Principal of the Financial Industry Regulatory Authority, and an associated person of Mid Atlantic’s Registered Investment Adviser. Mr. Warden has served in various capacities with community and professional organizations, including Young Presidents' Organization and World Presidents' Organization. Mr. Warden formerly served as Chairman of the Board of Directors of Sky Bank, Pittsburgh Region.
Timothy Friday
Institutional Services Group CEO
Tim has been in the financial services industry since he was graduated from John Carroll University, Cleveland, OH in 1984.
His career began with Federated Investors, Inc. where he worked with banks, savings and loans, and trust departments representing asset management and trust investment services. From there, he spent time with Mellon Bank in the global cash management division where he consulted for Fortune 500 companies in New York and CT.
Tim also held various management positions with the Federal Home Loan Bank and Bisys Fund Services where he concentrated on raising bank capital and lending services as well as product management and delivery of investment products to the institutional buy-side of the street.
In 1995, he co-founded Mid Atlantic Institutional Shares, Inc. (“MAIS”) where he was president and CEO. MAIS quickly became one of the most prominent trading platforms in the US that focused on the TPA, corporate, and trust department marketplace. It grew to over $20 billion in client assets under administration. In November 2002, Mid Atlantic Institutional Shares, Inc. was sold to SunGard and combined its product and services with SunGard’s STN Funds where Tim was president.
In 2004 Tim, along with several other key industry figures, developed what is known today as Mid Atlantic Financial Platforms, Inc. (“MAFP”)--the institutional trust arm of Mid Atlantic Trust Company (“MATC”). This company was designed to compliment the services MAIS had offered to its TPA and trust clientele. It currently offers directed trustee, custody, sub-custody, paying agent, and reporting services for the retirement space. Today, this custody platform serves over 11,000 institutional retirement plans.
On March 1, 2008, MAFP was merged in full into the Mid Atlantic group of companies.
Tim now serves on the executive committee of the Mid Atlantic companies and is concentrating his efforts on the institutional marketplace.
Paul Schneider
Product Development Group CEO
Paul has been building solutions for the financial industry for the past 19 years. He started as a software tester with the financial technology firm, SunGard Data Systems in 1989. Paul’s distinct ability to identify opportunities, deliver timely solutions, and create value for his clients propelled him through multiple positions within SunGard. By the time he left 15 years later, he had risen to one of the top executive positions in this S&P 500 company as Group CEO of SunGard Financial Networks.
During his time at SunGard, Paul spent time on investment accounting, employee benefit, shareholder accounting, portfolio management and trading systems. He is credited with being one of the creators of the SunGard Transaction Network which automates high volumes of complex financial transactions between various market participants.
In 2004 Paul helped to develop what is known today as Mid Atlantic Trust Company (“MATC”). This company was designed to bring a new level of sophistication for trading and custody services for Third Party Administrators and trust clientele. It currently offers directed trustee, custody, sub-custody, paying agent, and reporting services for the retirement space. Today, this custody platform serves over 11,000 institutional retirement plans.
Paul now serves on the executive committee of the Mid Atlantic companies and is concentrating his efforts on developing unique solutions that allow Mid Atlantic clients to grow their practices.
David J. Down
President & High Net Worth Services Group CEO
Mr. Down is the President and also serves on the Board of Directors of Mid Atlantic Capital Group, Inc., as well as its two primary subsidiaries, Mid Atlantic Financial Management, Inc.- a Registered Investment Adviser and Mid Atlantic Capital Corporation - a FINRA Registered Broker-Dealer. He has been with the company since 1987. From 1997 to 2004 he served as the executive in charge of the asset management division, where he was responsible for research, development of proprietary investment programs, financial analysis, client reporting and operations supervision. Mr. Down is also a Vice President of Stonehaven Energy, LLC, ZHW Oil & Gas, Inc. and Eighth Floor Oil & Gas, Inc. He is President of Stonehaven Capital Management, LLC.
He earned his Bachelor of Arts degree in Economics and Business from the University of Pittsburgh. He earned his Masters degree in Business Administration (with an emphasis in finance) from the University of Miami. He is a licensed representative, principal and options principal with the Financial Industry Regulatory Authority and an associated person of the Registered Investment Adviser.
Mr. Down resides in Franklin Park with his wife and two children. He is active as a leader with the Boy Scouts of America (Troop 36 – Franklin Park) and has been involved as a coach in youth athletics in the Franklin Park area. He has been an active volunteer for his fraternity on a national, regional and local level over the past twenty years.
Timothy L. Brown
Chief Compliance Officer & President, Western Region
Mr. Brown, formerly President of London Pacific Securities (“LPS”), joined Mid Atlantic in 2004 when Mid Atlantic Capital Group acquired the assets of LPS. He is the firm’s Chief Compliance Officer and oversees Mid Atlantic’s western offices located in Sacramento, California.
Mr. Brown was with London Pacific since 1986 and served in many capacities including Director, Chief Financial Officer, and Chief Compliance Officer. He worked for Coopers & Lybrand, CPAs (now PriceWaterhouseCoopers) before joining London Pacific.
Tim received a B.S. in business administration from California State University, Chico. He is a member of the California Society of Certified Public Accountants and the American Institute of Certified Public Accountants. He is a Registered Representative and Principal of the broker-dealer and holds the Series 7, 24, 27, and 63 securities licenses.
Joseph F. Banco, Jr.
Chief Financial Officer, Secretary & Treasurer
Since joining Mid Atlantic in 1996, Mr. Banco has supervised the operations of its finance and accounting functions. He also serves as the Financial Operations Principal of the broker-dealer. Prior to joining Mid Atlantic, he was an audit manager with Arthur Andersen LLP.
Mr. Banco has a Bachelor of Business Administration degree in Accounting from Wheeling Jesuit College and is also a Certified Public Accountant.
Michael S. Brownlee
Senior Vice President & Manager, Trading Group
Mr. Brownlee joined the firm in 1993 and currently oversees Mid Atlantic`s institutional and block trading desk, which processes several thousand trades per week. Prior to 1993, he held positions as a retail broker at Merrill Lynch, RC Towne/Gruntal, and A.G. Edwards.
Mr. Brownlee received his Bachelor of Arts degree in Economics and Political Science from the University of Pittsburgh in 1976.
Amy E. Chalmers
Senior Vice President & Manager, Technology Group
Ms. Chalmers joined Mid Atlantic in 1985. She heads the technology department and is responsible for the company's technology infrastructure and internal help desk, as well as providing support for internet-based applications used by investment professionals and their staff.
Ms. Chalmers graduated from Allegheny College in Meadville, PA with a Bachelor of Science degree in Economics and minor degrees in French and Mathematics.
Jeanine C. Devine
Vice President, Compliance - Pittsburgh
Mrs. Devine joined the firm in 1983. She currently oversees Mid Atlantic's brokerage operations and performs Principal supervisory duties. She held various positions within the firm throughout her career.
Prior to joining Mid Atlantic she attended the University of Dayton, and subsequently held positions at Penn Mutual Life Insurance Company and Manufacturers Life Insurance Company.
She is currently a Registered Representative and Principal of the broker-dealer. Mrs. Devine serves as the broker-dealer's Municipal Securities Principal and General Securities Principal. She holds the Series 7, 24, 53, 55 and 63 licenses.
Sarah Fong
Vice President, Compliance - Sacramento
Ms. Fong, formerly Principal Supervisor and Compliance Officer of London Pacific Securities (“LPS”), joined Mid Atlantic in 2004 when Mid Atlantic Capital Group acquired the assets of LPS. She performs supervisory and compliance duties.
Ms. Fong has over 15 years of experience in the financial services business. She was with LPS since 2000. She worked for CalFed Investments (now Citigroup) before joining LPS.
She attended the Hong Kong Polytechnic in Hong Kong where she received a certificate in Advanced Accounting from the London Chamber of Commerce. She is a Registered Representative and Principal of the broker-dealer. Ms. Fong also serves as the Anti-Money Compliance Officer and the Compliance Registered Options Principal. She holds the Series 4, 7, 24, 53, 55, 63 and 65 securities licenses and is licensed for the sale of fixed and variable insurance contracts.
Michele A. Gross
Senior Vice President, Retirement Plan Services
Ms. Gross joined Mid Atlantic Financial Platforms, Inc. in January 2008 to manage retirement plan trading for third party administration clients. She began her career as an employee benefit plan administrator with Fleet Bank of New York, and later became Director of Qualified Plans for National Benefits Group, a third party administration firm servicing health, welfare, qualified, and non-qualified plans. In 1994, she joined Corbel & Co. to serve as Operations Manager of the National Pension Alliance, a back-office recordkeeping and trading platform. She was responsible for trade operations, reconciliation, trust reporting, revenue share management and collections, and systems development. When Corbel was sold to SunGard in 1997, Ms. Gross moved into the systems development group of SunGard Relius, managing vendor relationships and integration with the Relius Administration recordkeeping system.
Ms. Gross obtained her BA in 1987 from St. Bonaventure University, graduating summa cum laude. She subsequently earned the Certified Employee Benefit Specialist (CEBS) designation from the Wharton School of Business and the International Society of Certified Employee Benefit Specialists and is a former Fellow of the ISCEBS. She also holds the Qualified 401(k) Administrator (QKA) designation from the American Society of Pension Professionals and Actuaries (ASPPA).
Jean Nalesnick
Senior Vice President and Manager, Operations Group
Ms. Nalesnick has been with Mid Atlantic since 2003 and is Manager of the Brokerage Operations Group. Prior to joining Mid Atlantic, Ms. Nalesnick worked at Dreyfus Investment Services Corporation for sixteen years where she held various positions including Brokerage Operations Manager.
Ms. Nalesnick received her Bachelor of Science Degree in Business Administration from Robert Morris College in Pittsburgh PA. She is a Registered Representative of the broker-dealer. She holds the Series 7, 27 and 63 securities licenses and is licensed for the sale of fixed and variable insurance contracts.
Kyle P. Smith
Senior Vice President and Manager, Product Management Group
Mr. Smith oversees the product management area and is responsible for research, development of proprietary investment programs, financial analysis and client reporting. Mr. Smith rejoined Mid Atlantic in January 2005 after serving as Chief Investment Officer of Longboat Capital Management. Mr. Smith was with Longboat since July 2000, focusing primarily on the firm’s hedge fund investment portfolios. Prior to Longboat, Mr. Smith served as a Vice President with MAFM. Mr. Smith also became licensed as a Certified Public Accountant while employed with the international accounting firm of Ernst & Young & Co.
Mr. Smith received his B.S. Degree in Business Administration and Accounting from the University of Pittsburgh in 1986. He is a Registered Representative of the broker-dealer and holds the Series 3, 7, and 63 securities licenses.
James N. Wert
Principal
In 1987, Mr. Wert joined Mid Atlantic to assume responsibility for the firm`s Wealth Management Practice, serving the financial needs of business owners, physicians, and other individuals with special financial circumstances. He subsequently served as president of the firm`s Financial Management subsidiary. He is currently a Registered Representative of the broker-dealer and an associated person of the Registered Investment Adviser.
Mr. Wert holds a B.A. from Penn State University and a Juris Doctorate from the University of Pittsburgh School of law. He was admitted to the Pennsylvania Bar in 1976.
He is a member of the International Association of Financial Planners, and a General Securities Representative of the broker-dealer.
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