DUNCAN-WILLIAMS, INC.
GAINESVILLE, TN

Philosophy Founded in 1969, Duncan-Williams, Inc. is a family and employee-owned investment banking firm headquartered in Memphis, Tennessee. From our beginnings as a small regional municipal bond firm, Duncan-Williams now ranks among the largest regional “Female Owned” investment banking firms in the nation. Although our roots are in the Southeast, we have grown into a nationally recognized, financial services provider serving clients across the country. Today, our team is better prepared than ever to address even the most complex financial challenges. We have expanded our capabilities across asset classes and financial markets, giving our clients broad access to an ever-changing world of financial opportunity. Despite our continuous growth, we have not lost sight of the single most important asset responsible for our company’s growth—the trust placed in us by our clients, with whom we have built relationships that, in many cases, span decades. At Duncan-Williams, we know that our success depends on yours. That’s why, without exception, everyone in our firm is dedicated to building relationships based on trust, integrity and professionalism. These core values, together with an unwavering commitment to quality, make us who we are as an investment firm. We are focused on our clients. We are committed to always putting their interests first. We understand that the quality of our reputation is directly proportional to our customers’ long-term satisfaction. Our role as an investment banking company is to support those relationships with value-added financial expertise, products and services. We are proud to be a local firm with a national presence. We believe that size is a statistic, not a company’s culture. We recognize that our national and global capabilities are important only to the extent that they enable us to deliver a comprehensive array of financial solutions and opportunities, one client at a time. is the President of Duncan-Williams, Inc. of Memphis, Tennessee. Mr. Williams has been with the firm since 1993 and has served as President since 2000. Duncan-Williams, Inc. is a full-service broker dealer, employing more than 100 employees, with branches in Boulder, CO; Doniphan, MO; Jackson, MS; Langhorn, PA; and Tampa, FL. Since its founding in 1969 as a municipal bond dealer, the Company has expanded in sales, finance and underwriting of all fixed-income securities to the general public and financial institutions. Mr. Williams served on the Financial Industry Regulatory Authority (FINRA) Board of Governors for a three-year term from 2008 to 2010, and is currently serving on FINRA’s Statutory Disqualification Committee. He has also served on the National Adjudicatory Council (NAC) for FINRA, and is a past member of the FINRA Small Firm Advisory Board and the NASD Small Firms Impact Task Force. He served on the NASD District Nominating Committee, the NASD District Business Conduct Committee and was the committee’s chairman in 2002. In 1961, Carolyn married A. Duncan Williams and forged a life along the successes of his ability as a high producer in the municipal bond industry. In April 1969, she helped her husband found Duncan-Williams, Inc. While raising their two small children, Duncan and Emily, Carolyn set her feet on the path to learning the investment banking business over the next 20 years. The company grew its business interests into that of a regional brokerage firm, underwriting municipal debt as the Southeastern United States was experiencing a boom in population. But in 1989, the operation was jolted by her husband’s death and Carolyn became the owner of Duncan-Williams, Inc. It was her strong resolve to hold on to the family firm; and today she remains the Chairwoman of the Board, as Duncan-Williams, Inc. celebrates its 47th anniversary. She has lent her time and business insight to many charitable causes and has served as a member of the Board of Directors at the Bank of Germantown in Germantown, Tennessee. Carolyn currently serves on the Board of the University of Memphis Foundation, as well as the University’s Board of Visitors. Carolyn also is a patron of the arts and is a Board member of Theatre Memphis. Her greatest passion, though, is spending time on the Williams’ family farm called “The Roost” in Clarksdale, MS with close friends, family, and creating memories with her grandchildren. Jack Schlifer has over 35 years’ experience in the capital markets and investment banking industries. His current responsibilities as President of Debt Capital Markets include management of sales, strategies and public finance as well as the trading and distribution of all fixed-income products. Previously, Jack was Fixed Income National Sales Manager for Duncan-Williams, Inc. and established the firm’s Cleveland, OH, office. He received his BS in Finance from the University of New Orleans and his MBA from New York University’s Stern School of Business and is a CFP®. Mr. Malmo is the Vice-chair of the Board and General Counsel Emeritus of Duncan-Williams. Mr. Malmo has worked with Duncan-Williams since the firm was established in 1969, both as the company’s attorney and as the personal lawyer to founder A. Duncan Williams. Following the death of A. Duncan Williams in 1989, Mr. Malmo served as the company’s President through 2000, when he was succeeded by Duncan F. Williams. Previously, Mr.Malmo was a senior partner in the Memphis Law Firm of Heiskell, Donelson, Bearman and Kirsch, now Baker, Donelson, Bearman & Berkowitz. Patrick Burnett joined Duncan-Williams as Associate General Counsel in September 2011. In this role Mr. Burnett assists in managing the company’s legal obligations and serves on the executive committee of the company. In February 2016 he was named General Counsel. Previously, Patrick was a Member with Glankler Brown, PLLC, a Memphis-based law firm specializing in business law, litigation, and real estate, where he practiced law for 12 years. He is a member of the American, Tennessee and Memphis Bar Associations.