Phil Pendergraft is Chief Executive Officer of Penson Worldwide, Inc. and a member of its board of directors.  He was appointed Chief Executive Officer in July 2005, previously serving as the firm’s Executive Vice President and Chief Operating Officer from October 2000 through July 2005. Mr. Pendergraft has been a member of Penson Worldwide, Inc.’s Board of Directors since September 2000.  He has held executive officer and Director roles at certain affiliated Penson entities since 1995, when he co-founded Penson Financial Services, Inc. with Daniel P. Son.  Mr. Pendergraft has more than 20 years of securities industry experience, including the start up of three clearing operations and holds a B.A. in economics from Trinity University.