Fraser

Leonard D. Davenport, CFA, Len has over 20 years of international and domestic investment management experience following the independent thinking and contrarian philosophy espoused at Fraser Management.

Prior to joining Fraser, Len served as Co-Head of the USA investment department for a major global financial services company (Royal & SunAlliance, plc). While at Royal & SunAlliance, Len oversaw a $10 billion portfolio. As Chairman of the Investment Policy Committee he was responsible for strategic asset allocation across all sectors for all clients.

Len has been involved in multi-million dollar mergers, acquisitions, joint ventures and divestitures in the United States, Latin America & the Caribbean. Len has been active in national and state investment committees. He was a member of the American Insurance Association investment committee, having served as its Chairman. He also served on the State of North Carolina Reinsurance Facility investment committee for four years.

Len earned his MBA from DePaul University in Chicago where he majored in Finance with a specialization in Investment Management. Len earned his BS in Finance from the University of Illinois in Champaign-Urbana where he concentrated in Investments and Banking. Len is also a Chartered Financial Analyst (CFA).

W. Alex Seagle, Alex has over 16 years experience in managing client assets and relationships for individual and institutional clients. Alex is versed in the unique needs of multi-family offices, wealth managers, foundations, endowments and charitable organizations. Alex writes our newsletter, Ruminations of the Contrary Investor, and also assists in asset allocation and portfolio analysis. Mr. Seagle began his investment career at J.C. Bradford & Co. as a Registered Representative, where he specialized in convertible securities. He later served as a regional manager for First Union Brokerage Services and First Union Securities, Inc. E-mail Alex

Alex earned his BBA in Marketing from Southern Methodist University in Dallas, Texas. He currently holds Series 7 and 63 securities licenses.