CLIENTS

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• William T. Mills III
• Charles D. Perry, Jr.
• William A. Terry, CFA
• John R. Doody, Jr., CFA
• D. Jay Wulf
• R. Scott Graham, CFA
• Michael T. Lytle, CFA
• Mark P. Manderson, CFA
• Susan L. Padgett, CPA
• Cathryn S. Pugh, CPA
• Sheila B. Strickland
• Leigh H. Monroe
• Elaine T. Beach
• Michael E. Richards, CPA, CMA
• Hunter W. Craig
• John A. Nicolini
• Paul G. Roess
• J. Michael Thomas
• Paige B. Daniel
• Benjamin Mitchell III
• Joyce K. Lawson
• Teresa B. Denney
• Carol A. Watkins

History of the Firm

In 1987, Highland Associates’ three original partners, William Mills, Charles Perry and William Terry, founded the company in Birmingham, Alabama as an independent, fee-based consulting firm. We organized our firm specifically to assist not-for-profit health care organizations develop, implement and maintain treasury and investment management programs, including asset/liability analysis, policy development, asset allocation, manager search/selection and performance monitoring.

Highland was born out of the collective vision and foresight of its three founding principals, combining their unique skills and experience from pension consulting and health care finance to develop a superior process for managing health care investment portfolios.

The primary factor differentiating us from other investment consultants is our focus on not-for-profit health care organizations. Highland even has two former hospital CFOs on its staff. As a result, we have an intimate understanding of the business and its unique issues, which makes our experience not only relevant, but critical. These experiences have allowed us to develop a proprietary model that calculates the operating liabilities of a health care organization in a manner that is conducive to the development of portfolio policy and strategy.

Our only objective is to help our clients reach well-reasoned, rigorously supportable decisions on the management of their portfolio assets. This will allow us to:

• Educate our clients on investment theory
• Develop an accurate assessment and understanding of each client’s overall investment objectives
• Provide clear, concise and accurate analysis and reporting
• Expose our clients to leading edge investment thought, products and services
• Make specific recommendations and support them
• Integrate the management of the investment portfolio into the overall capital management plan