Robert Barone received a Ph.D. in Economics from Georgetown University in 1972. His first position was as an economist for Cleveland Trust Company where he built the bank’s first computer based strategic model. In the mid-70s, he moved to a small S&L where he became the most productive S&L bond manager in the Cincinnati Federal Home Loan Bank district.
Mr. Barone then moved west, spending 5 years as the Professor of Finance at the University of Nevada. In 1984, he took control of a failing bank and spend 16 years as it Chairman and CEO, successfully selling the institution in 1999. During his tenure at Comstock Bancorp, in 1996 he became a Director of the Federal Home Loan Bank of San Francisco, a $250 billion quasi government agency, serving as its Chair in 2004. In 2000, he was asked to become a Director of AAA of Northern California, Nevada and Utah and a Director of its associated insurance company.
Mr. Barone currently serves on AAA’s Finance and Investment Committee which oversees $5 billion of investible assets. Mr. Barone served as Vice-Chair of those organizations from 2005 to 2007, and as their Chairman from 2007 to 2009. In 2005, he was elected to the Board of Auto Club Associates, the holding company of the auto club. Along with his son Joshua, he founded Adagio Trust Company in 2000, selling his interests in $300 million institution in 2006 to open Ancora West Advisors, now Universal Value Advisors. In 2004, Mr. Barone became a Director of Allied Mineral Products, Columbus, OH, America’s strongest refractory company, after 25 years of valuing its ESOP shares. He is also associated with ELP Capital in Reno, NV.