Correspondent Testimonial
“The non-competitive posture of Penson allows our products and services to stand ‘center stage.’” *
 
*The testimonials may not be representative of the experience of other correspondents and are not indicative of future performance or success.
Mark Rogers
President & CEO, Alchemy Ventures, Inc.

BOARD OF DIRECTORS
BOARD OF DIRECTORS   |   COMMITTEE COMPOSITION   |   GOVERNANCE DOCUMENTS
David A. Reed
Director

David A. Reed has served as a member of our Board of Directors since January, 2006. Mr. Reed has been the president of Capital Management LLC, general partner for Causeway Capital Partners, LP, a family investment fund, since 2000. He co-founded and has been an advisor to ANSRSource, Inc., since 2003. He served as the chairman of the finance committee for Texas Industries, Inc., from 2000 to 2004. Mr. Reed served on the board of directors for ENSR International, Inc. from 2002 until 2005 when the company was sold.  He served on the audit and compensation committees for Lone Star Technologies board of directors from 2005 until 2007 when the company was sold. Mr. Reed currently serves as a member of the board of directors of Drew Industries, Inc. (since 2003), serving as the Audit Committee Chair and also a member of the Compensation and Governance Committees. He served on the board of directors for Credant Technologies from 2002 until his recent decision to retire from that board in September, 2008. Mr. Reed retired as Senior Vice Chair of Ernst & Young LLP in 2000 after a 26 year career with the firm. He served in various capacities with Ernst & Young, including membership on its Management Committee from 1991 until his retirement as well as the E&Y Global Council, and held varying operational and management responsibilities, including America’s audit and tax operations, and global account management for Ernst & Young’s top 150 clients. Mr. Reed holds a B.B.A. in Accounting from Texas Tech University. He also attended the Kellogg Business School Executive Business Program and the Harvard Business School Leadership program. He received recognition as a recipient of the Texas Tech University Distinguished Alum, and Texas Tech Business School Distinguished Alum awards. Mr. Reed received his CPA license in 1970. His CPA license is currently retired.

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