Mr. Patterson, an MRC director since 2012, is co-founder and Chairman of MacKenzie Capital Management, LP (“MacKenzie”) and MCM Advisers, LP (the “Adviser”), a director of their general partner, and a beneficial owner of all three companies. Mr. Patterson co-founded the MacKenzie companies in 1982.
Mr. Patterson has spent his entire business career in the financial services industry. In 1965, following his graduation from the University of Oregon with a B.S. degree, he was selected as a junior executive trainee by Merrill Lynch, Pierce, Fenner and Smith, Inc. This intensive two-year training program was conducted in New York and included “on-the-floor” experience on all the major stock and commodity trading floors in the U.S. and Europe as well as a one-year position in Securities Research. Subsequently assigned to Merrill’s Oakland, California office, Mr. Patterson had responsibility as an account executive for individual investors through 1971.
In 1971, Mr. Patterson joined Eastman Dillon, Union Securities, Inc. with responsibility for Institutional Accounts in San Francisco and Hawaii. Upon the merger of Blyth & Co. with Eastman Dillon, Mr. Patterson was appointed assistant manager and then resident manager of the firm’s Oakland office. He became a vice president of the firm in 1975. During the years 1976 to 1981, Mr. Patterson was associated with Smith Barney, Harris Upham, Inc. as a vice president of sales; Merrill Lynch, Pierce, Fenner and Smith, Inc. as a senior account executive; and Paine Webber, Jackson & Curtis as an account vice president. During this period his primary responsibility was the counseling of individual clients, but he also was responsible for research and marketing of specialized financial products.
In 1981, Mr. Patterson founded Patterson Financial Services, Inc. (now MCM Advisers, LP) with Berniece A. Patterson as a financial planning firm. He founded Patterson Real Estate Services, a licensed California Real Estate Broker, in 1982. As Chairman of MCM Advisers, LP, Mr. Patterson is responsible for all investment counseling activities. He supervises the analysis of investment opportunities for the clients of the firm. In 1988, Mr. Patterson co-founded the predecessor of MacKenzie. The Manager acts as the General Partner and Manager to a number of prior investment funds. Mr. Patterson is the Chairman of the Manager.
Mr. Patterson is a former Certified Financial Planner, has completed the College of Financial Planning’s Due Diligence course, and is a past member of both the Institute of Certified Financial Planners and the International Association for Financial Planning.
