Richard Renner

President & Partner at Ancora Inverness

Richard Renner

Richard Renner

President & Partner at Ancora Inverness

Overview
Career Highlights

Ancora Inverness
Ancora Inverness LLC

RelSci Relationships

497

Number of Boards

4

Contact Data
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Relationships
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General Counsel, Managing Director, Family Wealth Advisor at Ancora Advisors LLC

Relationship likelihood: Strong

Chairman & Chief Executive Officer at Ancora Advisors LLC

Relationship likelihood: Strong

Managing Director, Family Wealth Advisor at Ancora Advisors LLC

Relationship likelihood: Strong

Managing Director, Fixed Income at Ancora Advisors LLC

Relationship likelihood: Strong

CIO & Portfolio Manager at Ancora Advisors LLC

Relationship likelihood: Strong

Chief Financial Officer at Ancora Advisors LLC

Relationship likelihood: Strong

Chief Executive Officer at Fieldstone Farm Therapeutic Riding Center

Relationship likelihood: Strong

Director & Chief Portfolio Strategist at Ancora Inverness LLC

Relationship likelihood: Strong

Founder at Ancora Advisors LLC

Relationship likelihood: Strong

Co-Founder at Ancora Advisors LLC

Relationship likelihood: Strong

In The News
Crain's Cleveland Business
January 25, 2016
Ancora adds Inverness, is now managing $4B
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Richard Renner
President & Partner at Ancora Inverness
Education
Bachelor of Science in Business Administration
Class of 1978

Established in 1846 as the University at Lewisburg; renamed Bucknell University in 1886 in honor of William Bucknell, a major benefactor. The University is highly selective, private, nonsectarian, coeducational (since 1883), residential, and undergraduate, with a small graduate program.

Career History
President & Partner
Current

Inverness Securities LLC is an American private company specializing in security brokers, dealers, and flotation companies.

President, Ancora Inverness
Current

Ancora Advisors seeks to invest in companies that are trading at a significant discount to their liquidation or going-concern value. Certain issues may trade below tangible book value. This can occur in times of broad market pessimism or Wall Street concentration with a company's near-term outlook. Other companies have hidden assets that are not reflected in the company's financial statements, such as investments in private companies or understated real estate values. Ancora works to understand catalysts that will unlock the value of the target company's assets, although Ancora may also buy based on a company being too cheap to ignore.In addition, Ancora seeks to invest in companies that are trading sufficiently below the calculation of intrinsic value based on the firm's \"Normalized Return\" analysis to provide potential total return of 50% or more over a 3 year time horizon. Sell decisions are based on valuation, risk and portfolio guidelines. As individual stocks approach their intrinsic value and decline in their relative attractiveness, they become candidates for sale. Other sell decisions may occur because of deterioration in the fundamentals that supported the initial investment. Automatic sales are initiated as position exposures approach diversification guidelines. Proceeds from sales are reinvested in companies that are more attractively valued based on the purchase disciplines.Ancora's fixed income strategy employs a top down approach with emphasis on sector allocation as their primary value added tool. Ancora is primarily an up-in-quality manager emphasizing higher rated corporate issues and higher classes of structured products. The firm attempts to add value in security selection by emphasizing either smaller issues or less liquid issues which tend to not trade as efficiently as do benchmarked/index eligible holdings. Ancora's research efforts in these names are internally generated and rely on various research sources including street generated research and other sources. The firm's taxable fixed income approach utilizes all the investment grade debt market sectors. The firm does not utilize non-investment grade securities in any of their managed accounts. Ancora restricts their fixed income buying to bonds rated A- or higher by one or more of the major rating agencies.Ancora Advisors is an activist firm and is included in the SharkWatch50 as one the 50 most prominent activist investors.

Managing Principal, Ancora Inverness
2016 - Prior

The Ancora Group, Inc. operates as an investment advisory firm. It focuses on asset allocation, equities, fixed income, and alternative strategies. The company was founded by Richard Anthony Barone in 2001 and is headquartered in Cleveland, OH.

Boards & Committees
Member, Executive Committee
Current

Ancora Advisors aims to preserve and grow their clients’ capital and seeks to invest in companies that are trading at a significant discount to their liquidation or going-concern value. Certain issues may trade below tangible book value. This can occur in times of broad market pessimism or Wall Street concentration with a company’s near-term outlook. Other companies have hidden assets that are not reflected in the company’s financial statements, such as investments in private companies or understated real estate values. Ancora Advisors works to understand catalysts that will unlock the value of the target company’s assets, although the firm may also buy based on a company being too cheap to ignore.

Director
Current

First Tee of Cleveland operates as an international youth development organization introducing the game of golf and its inherent values to young people. The company was founded by André Thornton in 1999 and is headquartered in Newburgh Heights, OH.

Trustee
Current

FIELDSTONE FARM ENGAGES THE THERAPEUTIC POWER OF OUR HORSES TO (CONTINUED ON SCHEDULE O) DISCOVER AND NURTURE THE SPECIAL ABILITIES OF INDIVIDUALS, FAMILIES, AND COMMUNITIES.

Member, Board of Trustees
Current

Beaumont School operates as a school for girls. The firm also offers athletic teams including soccer, cross country, basketball, lacrosse, swimming, volleyball, tennis, softball, track and golf. The company was founded on September 9, 1850 and is headquartered in Cleveland Heights, OH.

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FIELDSTONE FARM ENGAGES THE THERAPEUTIC POWER OF OUR HORSES TO (CONTINUED ON SCHEDULE O) DISCOVER AND NURTURE THE SPECIAL ABILITIES OF INDIVIDUALS, FAMILIES, AND COMMUNITIES.

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