Mr. Schaenen was elected to the board in 1988. He is currently Senior Partner at ARS Investment Partners LLC, a privately owned investment manager. Prior to joining ARS, Schaenen was the founding partner of Somerset Capital Advisors, LLC, which was started in 1977. Prior to that he was a partner at Oppenheimer & Co and began his investment managing career at Bache & Co. in Dallas, Texas. Schaenen is a member of Investment Companies Institute and a former trustee of Columbia Grammar School. Schaenen received his B.A. in psychology from Amherst.