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Lloyd McAdams, CFA, CEBS

Chairman

Chief Investment Officer

Lloyd McAdams has been the Chairman of the Board and Chief Investment Officer of our company since its formation. 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 has served as a Board member of the California Public Employees Retirement System ("CALPERS"). Mr. McAdams is also the Chairman and CEO of Anworth Mortgage Asset Corp, a NYSE listed company that manages a portfolio of mortgage backed securities for its shareholders. He is a Chartered Financial Analyst Charter Holder, and a Certified Employee Benefit Specialist. B.S. in Statistics, Stanford University; M.B.A., University of Tennessee.

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Timothy Tarpening, CIMA®

Executive Vice President

Senior Portfolio Strategist

Mr. Tarpening is the firm’s Executive Vice President and Senior Portfolio Strategist. He is a member of PIA’s three-person Macro Strategy group, the firm’s Investment Strategy Group, and a Principal. Mr. Tarpening joined PIA in 1993 as an Investment Officer and member of the Equity Portfolio Management Group. Mr. Tarpening is currently responsible for strategic portfolio construction and oversight of the PIA Business Development Group. Mr. Tarpening began his investment career in 1984 with Drexel Burnham Lambert (DBL) in Beverly Hills. In 1987, Tim became a Registered Representative with DBL, and later joined PaineWebber as a Vice President of Investments prior to joining PIA. Mr. Tarpening received a Bachelor of Arts degree in Psychology at the University of California at Santa Barbara. In 1996, he earned his CIMA credential at The Wharton School of Business..

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Evangelos Karagiannis, Ph.D., CFA

Senior Vice President

Senior Portfolio Manager

Mr. Karagiannis is a Senior Portfolio Manager, member of the Macro-strategy Group and co-head of the Bond Group. Prior to joining PIA he served as a Post Doctoral Fellow at the University of California at Los Angeles where he studied as a Fulbright Scholar. Evangelos earned a Bachelor of Science in Physics from the University of Athens, Greece; and M.S., Ph.D. from the University of California at Los Angeles.

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Daniel F. Meyer, CFA

Senior Vice President

Senior Portfolio Manager

Mr. Meyer is a Senior Portfolio Manager, member of the Macro-strategy Group and co-head of the Bond Group. Prior to joining PIA, Mr. Meyer served as Vice President of Credit/Underwriting at CSFC Retail Energy Finance, a wholly owned subsidiary of Credit Suisse First Boston. Additionally, he served as Finance Manager for Equity Marketing, Inc. and Senior Associate for Arthur Anderson LLP. He earned a Bachelor of Arts degree cum laude in Business Economics from the University of California at Santa Barbara.

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Joseph E. McAdams, CFA

Senior Vice President

Mr. McAdams is a Portfolio Manager and specializes in Mortgage-backed Securities. Since joining PIA in 1998, Joe's responsibilities have included mortgage and asset-backed security research and managing fixed income trading and the Bond Strategy Group. Mr. McAdams’ investment experience began with Donaldson, Lufkin & Jenrette in New York as a mortgage-backed security analyst and trader. Mr. McAdams earned his Bachelor's degree magna cum laude from The Wharton School of the University of Pennsylvania with dual concentrations in Finance and Real Estate and additionally holds a Master's degree in Economics from the University of Chicago.

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H. Mitchell Harper, CFA, CMT

Senior Vice President

Portfolio Manager/Administrator

Prior experience includes serving as a senior investment officer at Chase Asset Management, John Alden Life Insurance, and Bankers Life and Casualty. He was Manager of Cash and Banking Worldwide for G.D. Searle & Co. and was an officer in the Cash Management Consulting Group at Northern Trust Bank. Mr. Harper earned a B.A. in Business Administration from the University of Arizona and an Masters in Management in Finance, Marketing and Accounting from Northwestern University.

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Bistra Pashamova, CFA

Vice President

MBS Specialist/Trader

Ms. Pashamova is a Portfolio Manager and member of the Bond Group, specializing in mortgage-backed and asset-backed securities. Ms. Pashamova began her career at PIA as an investment analyst. Ms. Pashamova studied Economics and International Studies at Denison University, earning her Bachelor's Degree cum laude. She earned a Master's Degree in Economics from the University of Southern California.

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Rory L. Hargaden, CFA

Vice President

Credit Research Analyst

Mr. Hargaden is a member of the Bond Group, responsible for Credit Research. Mr. Hargaden’s prior experience at PIA includes serving as a Portfolio Manager and managing fixed income trading. Prior to joining PIA in 1989, Mr. Hargaden served in the Audit and Tax Services divisions of Ernst & Whinney and KPMG Peat Marwick. He earned a Bachelor of Science degree in Business Administration and an M.B.A. from the University of Southern California.

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Michael Y. Yean

Vice President

Credit Research Analyst

Mr. Yean is a member of the Bond Group, responsible for Credit Research. Mr. Yean worked in the consulting department of Merrill Lynch and the investment department of M.J. Segal & Company. B.A. in Economics, University of California at Los Angeles.

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Hsin Tong

Trader

Ms. Hsin Tong is a fixed income trader, focusing on Institutional Separately Managed Accounts. Ms. Tong earned a MS degree in Industrial and Systems Engineering from the University of Southern California. She earned a BS degree in Mechanical and Electronics Engineering from Shantou University in China, where she was a four year member of the Dean's List.

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Hazel Miller

Trader

Ms. Miller is a fixed income trader, focusing on Separately Managed Accounts. Prior to joining PIA in 1994, Hazel served in the Investment Trust Offices at Sanwa Bank and Santa Barbara Bank and Trust. Hazel earned a Bachelor of Arts degree in Political Science from the University of California at Santa Barbara.

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Miki Rysanek

Trader

Mr. Rysanek is a fixed income trader, focusing on Separately Managed Accounts. Miki began his career at PIA in the Operations Depart­ment. He joined the Bond Group in 2008.