Phil Pendergraft was appointed as Penson Worldwide, Inc.’s Chief Executive Officer in July 2005. From October 2000 through July 2005, Mr. Pendergraft served as the Executive Vice President and Chief Operating Officer. He has served as a member of Penson Worldwide, Inc.’s Board of Directors since September 2000, and has served as an executive officer and Director of certain of our affiliated entities since 1995. Mr. Pendergraft has more than 20 years of securities industry experience, including starting up three clearing operations. Mr. Pendergraft holds a B.A. in economics from Trinity University.