Mr. Lloyd McAdams is President, Director and Portfolio Manager at PIA. Before joining PIA, Mr. McAdams held the positions of President of Security Pacific Investment Managers, Inc., Senior Vice President of Trust Company of the West, and an Investment Officer with the State of Tennessee. Mr. McAdams previously served as a Board member of the California Public Employees Retirement System (“CALPERS”). Mr. McAdams had also been the founder, Chairman and CEO of Anworth Mortgage Asset Corp, a NYSE listed company which later merged with another company. He is a Chartered Financial Analyst charterholder, and a Certified Employee Benefit Specialist. B.S. in Statistics, Stanford University; M.B.A.