David M. Steele, Chief Investment Officer and Head of Fixed Income David joined McMorgan in 2001. He is responsible for managing the firm's investment efforts in both fixed income and equities and serves as Chairman of our Investment Policy Committee. He has 27 years of experience in investment management, with a primary focus in the fixed income markets. David has extensive expertise in the active management of fixed income portfolios against multiple benchmarks, utilizing moderate duration, sector, yield curve, and security selection strategies. He also has experience utilizing financial futures in client portfolios. A graduate of the University of Washington with a BA in Marketing, David also holds a MBA in Finance from the University of Southern California.

Elizabeth A. Souza, Senior Vice President, CFA Liz joined McMorgan in 1984 and has 24 years of investment experience. As senior manager of McMorgan fixed income portfolios, Liz develops investment strategy and risk-reward analyses in all sectors and implements trades. Her comprehensive range of experience in investment management and her CFA designation complement a BS degree in Finance from California State University, Hayward.

Adam Blankman, Vice President, Director of Credit Sector Strategy, CFA Adam joined McMorgan in 1999 and is responsible for developing and implementing credit sector strategy and risk management for the fixed income portfolios. He has 14 years of experience with fixed income securities, coming to us after working as an analyst with Standard & Poor's. Adam holds a Masters degree from Stanford University and a Bachelors degree from the University of California at Berkeley.

Connor Hancock, Vice President, CFA Connor joined McMorgan in 1994 with a background in financial sales. In 1996, he joined the fixed income investment team. Connor focuses on corporate bond investments, with responsibilities that include portfolio management, credit analysis, and trading. He earned a BA in Economics from the University of California at Santa Barbara.

Thomas P. Raney, Vice President Tom rejoined McMorgan in 2006 after having served with the firm from 2000 to 2003. He has over 30 years of experience in the fixed income markets with extensive expertise in Rate, Curve and TIPs trading. Tom's primary function in the fixed income team is to monitor and manage Treasury, Agency and TIPs holdings. His prior work experience includes being a principal in a broker-dealer which specialized in proprietary trading and arbitrage, as well as transactional and advisory work with domestic and foreign money mangers. Tom is a graduate of the University of California, Berkeley.

David Bader, Vice President David joined McMorgan in 2002 and provides credit analysis, portfolio management, and trading for McMorgan’s corporate bond investments. Prior to joining McMorgan, David worked as an Associate in Global Corporate and Investment Banking at Bank of America, performing in depth credit analysis within the corporate lending area. He has also interned in the Debt Capital Markets in High Grade Origination at J.P. Morgan Chase & Company in New York City. David obtained his MBA from the Anderson School at the University of California, Los Angeles. He holds a BS degree in Business Economics and Finance from the University of Arizona.

Yvette Baumgartner, Credit Analyst Yvette provides support to the fixed income team in research activities including credit analysis, sector valuation, and yield curve analysis. She joined McMorgan in 2001, working with the portfolio accounting group before moving to the fixed income team. Yvette has 7 years of investment experience and holds a BA from the University of California, Berkeley. She is a Level II Chartered Financial Analyst candidate.