Max Pray

Director/Board Member at

Clifford Swan Investment Counsel LLC

Finance

Consumer Services

Consumer Non-Durables

Profile

Mr. Maxwell R.
Pray, CFA MBA, is Principal & Investment Counsellor at Clifford Swan Investment Counsel LLC.
He works with individuals, foundations, and private pension plans as a portfolio manager.
He brings valuable experience in finance, equity analysis, and portfolio management to the Research and Investment Teams.
Prior to joining Clifford Swan Investment Counsel in 2007, Mr. Pray served as Vice President in equity research and client services at Provident Investment Counsel.
In the research group he was responsible for the retail, consumer, and pharmaceutical sectors in large cap equities.
Before joining Provident, he worked at Trust Company of the West in equity research.
He worked for Procter & Gamble in manufacturing and finance in the paper products division.
He received his undergraduate degree from the University of California, Berkeley and an MBA from the University of Southern California.

Max Pray active positions

Companies	Position	Start
Clifford Swan Investment Counsel LLC Clifford Swan Investment Counsel LLC Investment ManagersFinance Clifford Swan builds personalized strategies for wealth preservation and growth based upon the unique objectives and circumstances of the client. The firm employs a disciplined, long-term approach toward investment management. While a client can elect to have an all-equity portfolio or an all-fixed-income portfolio, most of their clients have balanced portfolios, invested in equities and fixed-income securities.	Director/Board Member	31/12/2006

All active positions of Max Pray

Former positions of Max Pray

Companies	Position	End
Philip V. Swan Associates, Inc. Philip V. Swan Associates, Inc. Investment ManagersFinance PSA's investment strategy incorporates equities to provide for capital appreciation and fixed-income to provide income and reduce volatility. After achieving a thorough understanding of each client's needs and objectives, asset allocation guidelines are developed, with moderate shifts made from time to time according to client needs or market conditions. They seek to maximize after tax results and keep transaction costs to a minimum. Their strategy for investing in stocks looks across the equity spectrum to identify high-quality growing businesses that occupy leading positions within their industries. A cash-flow return on investment valuation discipline is used to identify companies with superior financial characteristics. PSA seeks to invest in companies with excellent prospects for future growth and profitability, capable management and evidence of sustainable competitive advantage within the marketplace. PSA's fixed-income investments are designed to provide stability and income in the portfolios. U.S. government, corporate and municipal bonds are emphasized, using short to intermediate maturities. A laddered strategy is generally used to provide the flexibility to react to a changing interest rate environment.	Analyst-Equity	30/10/2007
TCW Asset Management Co. LLC TCW Asset Management Co. LLC Investment ManagersFinance TCW maintains a value-oriented investment approach and their investment process focuses on preserving capital for their clients. The firm’s integrated top-down and bottom-up investment process emphasizes global and multi-sector diversification to generate attractive risk-adjusted returns from income and capital appreciation. They offer a range of investment strategies across fixed income, equities, and emerging markets.	Corporate Officer/Principal	-
PROCTER & GAMBLE COMPANY	Corporate Officer/Principal	30/12/1991

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Linked companies

Private companies	6
Procter & Gamble Co. Procter & Gamble Co. Household/Personal CareConsumer Non-Durables Manufactures and sells fabric & home care products, diapers, baby wipes, tissues, toilet paper, hair, skin and personal care, toothbrushes, vitamins, supplements & razors	Consumer Non-Durables
TCW Asset Management Co. LLC TCW Asset Management Co. LLC Investment ManagersFinance TCW maintains a value-oriented investment approach and their investment process focuses on preserving capital for their clients. The firm’s integrated top-down and bottom-up investment process emphasizes global and multi-sector diversification to generate attractive risk-adjusted returns from income and capital appreciation. They offer a range of investment strategies across fixed income, equities, and emerging markets.	Finance
Philip V. Swan Associates, Inc. Philip V. Swan Associates, Inc. Investment ManagersFinance PSA's investment strategy incorporates equities to provide for capital appreciation and fixed-income to provide income and reduce volatility. After achieving a thorough understanding of each client's needs and objectives, asset allocation guidelines are developed, with moderate shifts made from time to time according to client needs or market conditions. They seek to maximize after tax results and keep transaction costs to a minimum. Their strategy for investing in stocks looks across the equity spectrum to identify high-quality growing businesses that occupy leading positions within their industries. A cash-flow return on investment valuation discipline is used to identify companies with superior financial characteristics. PSA seeks to invest in companies with excellent prospects for future growth and profitability, capable management and evidence of sustainable competitive advantage within the marketplace. PSA's fixed-income investments are designed to provide stability and income in the portfolios. U.S. government, corporate and municipal bonds are emphasized, using short to intermediate maturities. A laddered strategy is generally used to provide the flexibility to react to a changing interest rate environment.	Finance
University of Southern California University of Southern California Other Consumer ServicesConsumer Services Functions as a College/University	Consumer Services
University of California, Berkeley University of California, Berkeley Other Consumer ServicesConsumer Services Functions as a College/University	Consumer Services
Clifford Swan Investment Counsel LLC Clifford Swan Investment Counsel LLC Investment ManagersFinance Clifford Swan builds personalized strategies for wealth preservation and growth based upon the unique objectives and circumstances of the client. The firm employs a disciplined, long-term approach toward investment management. While a client can elect to have an all-equity portfolio or an all-fixed-income portfolio, most of their clients have balanced portfolios, invested in equities and fixed-income securities.	Finance

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