Alan Francis Morel

.J.B. Hilliard, W.L. Lyons LLC (Investment Management) (Hilliard Lyons-IM) is the investment management division of J.J.B. Hilliard, W.L. Lyons LLC. They are a subsidiary of HL Financial Services LLC and their ultimate parent is Houchens Industries, Inc. The firm is headquartered in Louisville, Kentucky and was founded in 1965. Through their predecessors, the firm's origins can be traced to 1854. In 1965, J.J.B. Hilliard & Son and W.L. Lyons and Co. combined to become J.J.B. Hilliard, W.L. Lyons. In 1972, Hilliard Lyons exchanged its traditional partnership form of business for a corporation model. Then, in 1998, Hilliard Lyons was acquired by PNC Financial Services Group. In 2008, ownership of Hilliard Lyons was transitioned from PNC Financial Services Group to joint ownership by Hilliard Lyons' own employees and Houchens Industries, Inc. of Bowling Green, Kentucky. Hilliard Lyons-IM provides investment services a variety of clients, including individuals, charitable organizations, corporations, ERISA accounts, and IRA accounts.

.J.B. Hilliard, W.L. Lyons LLC (Investment Management) (Hilliard Lyons-IM) is the investment management division of J.J.B. Hilliard, W.L. Lyons LLC. They are a subsidiary of HL Financial Services LLC and their ultimate parent is Houchens Industries, Inc. The firm is headquartered in Louisville, Kentucky and was founded in 1965. Through their predecessors, the firm's origins can be traced to 1854. In 1965, J.J.B. Hilliard & Son and W.L. Lyons and Co. combined to become J.J.B. Hilliard, W.L. Lyons. In 1972, Hilliard Lyons exchanged its traditional partnership form of business for a corporation model. Then, in 1998, Hilliard Lyons was acquired by PNC Financial Services Group. In 2008, ownership of Hilliard Lyons was transitioned from PNC Financial Services Group to joint ownership by Hilliard Lyons' own employees and Houchens Industries, Inc. of Bowling Green, Kentucky. Hilliard Lyons-IM provides investment services a variety of clients, including individuals, charitable organizations, corporations, ERISA accounts, and IRA accounts.

PNC Bank, NA (Investment Management) (PNC-IM) is the asset management division of PNC Bank, NA, a banking company headquartered in Pittsburgh, Pennsylvania. The firm is ultimately held by The PNC Financial Services Group, Inc. (NYSE: PNC). PNC-IM manages assets for institutions and high-net worth individuals and provides tailored investments, wealth planning, trust and estate administration and private banking to high-net-worth families and individuals.

J.J.B. Hilliard, W.L. Lyons LLC is a broker/dealer headquartered in Louisville, Kentucky. The firm is a subsidiary of HL Financial Services LLC. They provide a full array of investment services. J.J.B. Hilliard specializes in a variety of industries including banks, REITs, technology, healthcare, pharmaceuticals, specialty chemicals, utilities, telecommunications providers, entertainment and leisure. The firm focuses on companies that provide niche products or services not easily duplicated. The companies they recommend must exhibit a combination of attributes including high returns on assets and equity, reliable earnings that are growing and manageable debt. J.J.B. Hilliard also prefers companies that generate excess cash. Through its predecessors, the firm's origins can be traced to 1854. In 1965, J.J.B. Hilliard & Son and W.L. Lyons and Co. combined to become J.J.B. Hilliard, W.L. Lyons. In 1972, Hilliard Lyons exchanged its traditional partnership form of business for a corporation model. Then, in 1998, Hilliard Lyons was acquired by PNC Financial Services GroupI. In 2008, ownership of Hilliard Lyons was transitioned from PNC Financial Services Group to joint ownership by Hilliard Lyons’ own employees and Houchens Industries, Inc. of Bowling Green, Kentucky, a diversified, employee-owned company.

Founded in 2007, Hilliard Lyons Capital Management LLC, formerly Hilliard Lyons Asset Management, is a registered investment advisor located Louisville, Kentucky. The firm is a subsidiary of HL Financial Services. Hilliard Lyons specializes in asset management for foundations and endowments, corporate pension and profit sharing funds, Taft Hartley plans and public funds. The firm is an affiliate of JJB Hilliard, WL Lyons LLC, a regional financial services firm founded in 1854 and Hilliard Lyons Trust Company LLC. Hilliard Capital Management and their affiliates are divisions of HL Financial Services LLC, which is owned by Hilliard Lyons employees, a limited number of outside investors and financial partner Houchens Industries LLC, one of America's largest 100% employee owned companies. On March 31, 2008, The PNC Financial Services Group, Inc. sold Hilliard Lyons Capital Management and their affiliates JJB Hilliard, WL Lyons LLC and Hilliard Lyons Trust Company LLC to HL Financial Services.