Duncan F. Williams President
DUNCAN F. WILLIAMS 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.
Mr. Williams is a member of the Board of Directors Executive Committee of the Greater Memphis Chamber of Commerce and serves as Co-chair of its Chairman Circle. He is currently serving on the Memphis Convention and Visitors Bureau Board, is a past Chairman of The Leadership Academy (New Memphis Institute) in Memphis and still sits on their Board. Mr. Williams serves as an Advisory Board Member of SunTrust Bank and a member of St. Jude Children’s Research Hospital Professional Advisory Board. Mr. Williams is a past Board member of Presbyterian Day School, former member of the Memphis Economic Club Board and previously served on the Capital Campaign Committee of Shelby Farms. In 2012, he was selected as “Communicator of the Year” by the Memphis Public Relations Society of America and was named “CEO of the Year” by MBQ, and in 2013, he was inducted into the Society of Entrepreneurs. In 2012, Mr. Williams became one of the local owners of the Memphis Grizzlies NBA team.
Mr. Williams graduated from the University of Alabama in 1990 and is a member of the President’s Cabinet, Commerce Executive Society, and the Board of Visitors at the University of Alabama.
Duncan is married to Abigail (Abbie) Ware Williams, and is the father of three children.
Carolyn Williams Chairwoman
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 President, Debt Capital Markets
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.
Prior to joining Duncan-Williams, Jack was Senior Managing Director of Fixed Income for Keybank Capital Markets, a division of Keycorp, where he supervised a team of 120 professionals and directed all facets of primary and secondary trading and sales. In addition, Jack served on the Executive Council and the Credit and Compliance Committee at Key Bank, and was a member of the board of directors for Key’s broker-dealer subsidiary, McDonald Investments, Inc. Jack also served as a member of the NASD’s District 8 Conduct Committee.
Jack received his undergraduate degree from Miami University and his MBA from Cleveland State University.
S.J. Guzzo MD, Debt Capital Markets Sales & Strategies
S.J. Guzzo has over 30 years’ experience in fixed income capital markets and banking. His current responsibilities as Managing Director include management of the institutional sales team as well as the fixed income strategies desk. Before joining Duncan-Williams, Inc., Guzzo began his career in Commercial Banking in his native New Orleans. He transitioned into institutional fixed income over twenty years ago, having served at Raymond James as Manager of Fixed Income Strategies and Stifel as Head of Fixed Income Sales.
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®.
Don Malmo Vice-Chair / General Counsel Emeritus
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.
Mr. Malmo is a graduate of Washington & Lee University and the Vanderbilt School of Law, where he was a member of Order of Qoif. He served as a Lieutenant in the U. S. Navy during the Korean War on USS Lindenwald LSD-6.
Patrick Burnett General Counsel
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.
Patrick was a founding board member and officer for MPACT Memphis, a non-profit organization that strives to be a driving force in the recruitment, retention and engagement of a diverse generation of young professionals for the economic and cultural development of Memphis. Patrick has also served as a member of the Grace-St. Luke’s Episcopal Church Vestry and School Board of Trustees. He was named a Top 40 Under 40 honoree by Memphis Business Journal, and was designated a Future Litigation Star in Tennessee by Benchmark Litigation in 2009, 2010 and 2011. Presently, Mr. Burnett serves on the Board of the Memphis Botanic Garden Foundation.
Patrick received a Juris Doctorate degree, cum laude, from the University of Tennessee College of Law, and is a graduate of the University of Mississippi.
Frank Reid Chief Financial Officer
Frank has served as the Chief Financial Officer of Duncan-Williams since 1985. His responsibilities include the supervision of the firm’s financial records and filing of the Financial and Operational Combined Uniform Single report (FOCUS) with the Financial Industry Regulatory Authority (FINRA) and the Securities and Exchange Commission (SEC).
During Frank’s tenure, Duncan-Williams has been examined by public auditors, FINRA, SEC, Department of Labor, and the IRS without any material financial changes or findings. Mr. Reid oversaw the firm’s transition to the Pershing system while maintaining its independence as a fully computing FINRA member. In addition, he created the firm’s internal reporting and cost accounting system, administered and obtained regulatory approval as a non-bank trustee for customers’ self-directed IRA plans, and created an in-house self-directed 401(k) Plan for employees with no outside administration costs.
Frank is a graduate of Christian Brothers University. He holds licenses as a Financial and Operations Principal, General Securities Principal, Registered Options Principal and General Securities Representative.
Jim Cherry Chief Compliance Officer
Jim Cherry has more than 15 years experience in the financial services industry. As Chief Compliance Officer of Duncan-Williams, Jim’s responsibilities include reviewing, analyzing and evaluating risk assessment across all business units. In addition, Jim oversees the compliance program for the firm’s broker-dealer and registered investment advisor (RIA), and serves as the firm’s regulatory liaison with FINRA and the SEC.
Jim joined the compliance department of Duncan-Williams in 2009 as Director of Fixed Income Compliance, and later served as Director of Private Client Group Compliance until he was promoted to Chief Compliance Officer in 2013. Prior to joining Duncan-Williams, Jim worked as a Financial Advisor for Fidelity Investments working in Private Access, the high net worth group. He began his career in 1999 at First Tennessee Brokerage, where he managed the Fixed Income Trading Desk until he became a supervisor and firm principal in 2000.
Jim graduated from the University of Arkansas’ Walton School of Business with a Bachelor of Science in Business.
Gary Lendermon Chief Marketing and Corporate Social Responsibility Officer
Gary joined Duncan-Williams in 2005 as Vice President, Marketing and Communications. In that role, he oversees all facets of the growing, regional firm’s internal and external communications and marketing efforts.
Gary brings more than 30 years of experience in the marketing and communications field to Duncan-Williams. Previously, he served as a divisional president for Archer/Malmo, a Memphis, Tenn.-based AAAA advertising agency, the largest in the Mid-South region. Gary began his advertising career with an international marketing services firm headquartered in New York. His creative and strategic initiatives have won multiple ADDY® Awards, MarCom Awards, PRSA Awards, and an Emmy. He is a member of the Public Relations Society of America.
Gary serves on the Director Advisory Council of The Germantown Performing Arts Center (GPAC), Memphis Botanic Garden Board, and the Indie Memphis Board. He is a graduate of the New Memphis Institute’s Leadership Development Intensive (LDI) Program and serves on the Greater Memphis Chamber’s Board of Advisors.
Gary earned his bachelor’s of science degree from the University of Memphis and has his Master’s of Strategic Public Relations from the George Washington University. He holds the series 7 and 63 General Securities licenses.
Jon Hall Chief Technology Officer
As Chief Technology Officer, Jon Hall aligns the firm’s technology vision with its business strategy by integrating company processes with the appropriate technologies. Jon also is responsible for developing and implementing technology initiatives and building infrastructure as well as databases, automation processes and web applications to support those initiatives.
Jon brings to Duncan-Williams more than 25 years of experience in management, development, and implementation of leading edge technology and applications. As Vice President and Director of Information Technology with Informa Economics, Jon oversaw the development, execution and support of all information technology strategies for the global agricultural and commodity research and consulting firm for over 13 years. Prior to Informa, Jon was the Director of Internet Technologies and an application developer for a MC², a leading construction estimating software development firm.
The depth and breadth of Jon’s experience have tuned his management and development skills and include managing projects in all phases of the development lifecycle.
Jon graduated from Memphis State University in 1986 with a Bachelor of Science in Electronic Engineering Technology.