FOR RELEASE
May 5, 2009

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IMCA Honors Harry Markowitz at Spring Conference
‘Father of Modern Portfolio Theory’ one of four IMCA award winners

SAN DIEGO—May 5, 2009—IMCA presented four prestigious awards at its 2009 Spring Professional Development Conference in San Diego, May 3–5, 2009.

Harry M. Markowitz, Ph.D., received the 2009 Matthew R. McArthur Award for his outstanding contributions to the profession of investment management consulting and to the advancement of the skills of investment management consulting. Dr. Markowitz is best known for his pioneering work in portfolio theory and is a recognized innovator in the fields of finance, economics, and technology. In 1990, his work was recognized, along with that of William F. Sharpe and Merton M. Miller, with the Nobel Memorial Prize in Economic Sciences. Dr. Markowitz also was a keynote speaker at the IMCA conference and answered questions from the audience of more than 1,350 attendees.

Elizabeth Piper/Bach, J.D., CIMA^®, received the 2009 Richard J. Davis Ethics Award for her article, “Hidden Fees as a Source of Fiduciary Risk in Defined Contribution Plans” (Journal of Investment Consulting 9, no. 1, fall 2009: 41–54). The award honors the author of an article that has made a significant contribution to advancing the understanding and knowledge of investment management consulting and/or private wealth management in the area of ethics, and/or the fiduciary, legal, or regulatory issues that affect these professional practices. Ms. Piper/Bach is president of Cardinal Trust and Investments in McLean, Va.

Meir Statman, Ph.D., received the 2009 Edward D. Baker III Journal Award for two articles: “Socially Responsible Investments” (Journal of Investment Consulting 8, no 2, summer 2007: 17–37) and “Socially Responsible Investors and Their Advisors” (Journal of Investment Consulting 9, no. 1, fall 2008: 15–26). The award honors the author of an original article that represents the best writing for the previous year germane to the investment management consulting and/or private wealth management professions. Dr. Statman is the Glenn Klimek Professor of Finance at Santa Clara University.

Jack Gardner, CIMA^®, AIFA^®, received the 2009 Stephen L. Kessler Writing Award for his article, “The Case for a High and Growing Dividend Stock Strategy in Retirement Portfolios” (Investments & Wealth Monitor 23, no. 6, November/December 2008: 9–11, 42). The award honors IMCA members for their excellent editorial contributions the previous year to the IMCA Investments & Wealth Monitor. Mr. Gardner is a managing director of Thornburg Investment Management and president of Thornburg Securities Corporation in Santa Fe, N.M.

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