Board of Directors
Reginald B. Newman II
Reginald B. Newman II became a Director of Rand in 1987 and was named Chairman of the Board in 1996. He is the Chairman of Prior Aviation Service, Inc., the Fixed-Base Operator (FBO) at Buffalo Niagara International Airport, Buffalo, NY. Mr. Newman is also a Director of Taylor Devices, Inc. (Nasdaq: TAYD) and Dunn Tire LLC and a former Director of M&T Bank Corporation (NYSE: MTB).
Robert M. Zak
Robert M. Zak became a Director of Rand in 2005. Since 1995, Mr. Zak has been President and Chief Executive Officer of Merchants Mutual Insurance Company, which operates under the trade name Merchants Insurance Group. He joined Merchants in 1985. Prior thereto, Mr. Zak’s career was in public accounting.
Allen F. “Pete” Grum
President and Chief Executive Officer
Pete Grum became a Rand Director when he joined the Company in 1996. He is a seasoned financial services executive with more than 20 years of experience with financial services organizations. He oversees the Company’s investment activities and takes an active role in the investment process from deal sourcing to fund marketing. He earned his Master of Business Administration from Rochester Institute of Technology and his Bachelor of Arts in Economics from Eisenhower College.
Erland E. Kailbourne
Erland E. Kailbourne became a Director of Rand in 1999. Since May 2009, Mr. Kailbourne has been Chairman of Albany International, Inc. (NYSE: AIN). From January 2006 until May 2010, he served as Chairman of Financial Institutions, Inc. (Nasdaq: FISI) and its subsidiary, Five Star Bank. In 1998, he retired as Chairman and Chief Executive Officer (New York Region) of Fleet National Bank, a banking subsidiary of Fleet Financial Group, Inc., a position he held since 1993.
Ross B. Kenzie
Ross B. Kenzie became a Rand Director in 1996. Mr. Kenzie has been retired since 1989. Prior thereto, he was the Chairman of the Board and Chief Executive Officer of Goldome Bank, a savings bank, since 1980. He was Executive Vice President and Director of Merrill Lynch Pierce Fenner & Smith as well as Merrill Lynch & Co. Mr. Kenzie is a former Director of Biophan Technologies, Inc. and Natural Nana, Inc., development companies specializing in highly marketable business devices and naturally occurring nanotube technologies.
Jayne K. Rand
Jayne K. Rand became a Director of Rand in 1989. Since 1993, Ms. Rand has been a Vice President of M&T Bank Corporation (NYSE: MTB).