Richard A. Lederer is the President and Chief Investment Officer of Lederer & Associates Investment Counsel. He cofounded Fish & Lederer Investment Counsel, Inc., in 1986. The name of the firm changed to Lederer & Associates in 1996. Mr. Lederer was previously Vice President of Winrich Capital Management and Senior Investment Officer of Security Pacific National Bank. He has 34 years of investment management experience. Mr. Lederer graduated cum laude with a B.S. in business administration from the University of Southern California and attended the graduate school of business at San Diego State University. He is a member of the CFA Institute and the CFA Society of Los Angeles. Mr. Lederer serves on the board of directors of the Prager University Foundation.