Richard Barone Named Chairman Emeritus of The Ancora Group

CLEVELAND, Dec. 17, 2014 /PRNewswire/ -- Ancora Advisors LLC is pleased to announce that its Founder, Richard A. Barone, has been named Chairman Emeritus of The Ancora Group. Mr. Barone intends to remain active within the firm with his primary focus being on managing client assets, including individual accounts and mutual funds. With the appointment, Fred DiSanto, CEO has been named Chairman of The Ancora Group.

Commenting on the appointment, Mr. Barone stated, "Becoming Ancora's Chairman Emeritus is an honor and represents a natural transition for me. Ten years ago I stated my intention to turn over day to day management and return to money management. That time has come."   

Mr. DiSanto added, "Since Richard founded the firm in 2003, Ancora has grown into a multi-faceted investment management firm with approximately $2 billion in discretionary assets under management. With significant growth in assets and continued investment in people, technology and other resources, the firm has never been better positioned to serve clients. We, along with our clients, look forward to continuing to benefit from Richard's deep market experience and investment knowledge for many years to come."

About Ancora Advisors LLC

Ancora Advisors LLC is a registered investment adviser with the Securities and Exchange Commission of the United States.  Ancora offers comprehensive investment solutions for institutions and individuals in the areas of fixed income, equities, global asset allocation, alternative investments and retirement plans.  A more detailed description of the company, its management and practices are contained in its "Firm Brochure" (Form ADV, Part 2A). A copy of this form may be received by contacting the company at: 6060 Parkland Boulevard, Suite 200 Cleveland, Ohio 44124, Phone: 216-825-4000, or by visiting the website, www.ancora.net/adv

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