Richard Schmaltz

Outside Board Member

Richard Schmaltz is a retired Managing Director and now Senior Consultant to J. & W. Seligman & Co. Incorporated. Mr. Schmaltz, who has 40 years of investment industry experience, joined Seligman in September 1996 as Director of Investments. Additionally, he was Chair of Seligman’s Investment Policy Committee and a member of Seligman’s Executive Committee. Mr. Schmaltz joined the Weeden & Co. Board of Directors in 2002, took a leave of absence from the board in 2004 and rejoined the board in 2005.

Mr. Schmaltz decided to retire from Seligman in 2001, but then rejoined the firm in 2004 as Managing Director, Chief Investment Officer, and Head of Seligman’s Core Investment Team. He also served as Portfolio Manager of Tri-Continental Corporation and Seligman Common Stock Fund, and Co-Portfolio Manager of Seligman Income and Growth Fund until September 2004.

Before joining Seligman, Mr. Schmaltz was Director of Research at Neuberger & Berman from 1993 to 1996. Before then, he served as Executive Vice President of McGlinn Capital Management. From 1983 to 1987, he was a Managing Director and Chairman of the Stock Selection Committee at Kidder Peabody. Prior to 1983, Mr. Schmaltz was a Principal and Co-Director of Research at Morgan Stanley & Company. He also managed his own investment firm, Richard R. Schmaltz, Inc. for several years.

Mr. Schmaltz received a Bachelor of Arts degree from Colby College where he is a Trustee.

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