Stakeholders Capital

Chairman Terry Mollner

Terry@StakeHoldersCapital.com, (888) 785-4537 x.5

Chairman Terry Mollner is a founder of the Calvert Social Investment  Funds – the first family of socially responsible mutual funds.  He and Robert Swann were the founders of the Institute for Community Economics in the early 1970s.  Under Terry’s leadership, twenty pioneers from around the country met monthly for over a year to write the first comprehensive set of screens for socially responsible investing. Today, as the largest family of ethical funds, Calvert holds over $5 billion under management. Terry continues to sit on its Board of directors. He also sits on the board of Ben & Jerry’s, a company he tried to buy in 2000 to sustain it as a socially responsible company. When this proved untenable, he was one of the main architects of a contract with Unilever, the ultimate buyer, to have the extant Board continue to have primary responsibility for the social mission and brand integrity. Ben & Jerry’s now models how to remain a socially responsible company while inside a multinational.

The Calvert Social Investment Foundation (CSIFdn) also traces its roots to Terry’s leadership. Whereas the CSIFs established a new investment territory in the professional investment community, called “socially responsible investing,” CSIFdn created a new investment territory called “community investing.” Today, to “end poverty through investment,” the CSIFdn raises low-interest capital through the sale of community investment notes.  CSIFdn has over $300 million invested around the world in micro-loan funds, low-income housing funds, social enterprises, etc.  An early chair, Terry continues to sit on its Board and its Executive and Investment Committees.

To create a home for his many projects, in 1973 Terry founded the Trusteeship Institute, Inc., of which he remains the president.  With the Aspen Institute, it organized a conference in May 2008 entitled “Selling Without Selling Out: Lessons From the Founders of Socially Responsible Businesses Bought by Multinationals.” Dr. Mollner interviewed a number of founders (Stonyfield Farms, Ben & Jerry’s, Dagoba Chocolate, Odwalla, Honest Tea, etc.) on what they learned and wished they had thought of before they sold. The videos can be viewed on the Trusteeship Institute’s website (trusteeship.org).

Dr. Mollner is writing a book for the general reader, in which he links personal with corporate maturation.  The first half shows the reader how to “elder” himself or herself to greater maturity.  The second describes what Terry thinks will be the next stage of maturity for groups, including the corporation (i.e., the common good corporation).  He simply can’t stop nudging us toward more enjoyable lives together.

Terry holds the FINRA Series 65 Investment Advisor registration.

Andrew Bellak, CEO

Andrew@StakeHoldersCapital.com, (888) 785-4537 x.2

Andrew brings a unique combination of trading experience, business acumen, and personal passion for SRI to StakeHolder Capital.  His Wall Street career started in 1993, when he began trading equity options. Over a seven-year period, he and Brad Stonberg started, managed and ultimately sold their trading firm to Speer, Leeds & Kellogg and Goldman Sachs.  The firm was profitable throughout the internet boom and bust cycle (late 1990′s to Summer 2002). Andrew and Brad helped anchor an options customer facilitation desk for Speer, Leeds.  They were part of the team integrating Speer, Leeds and Hull Trading for Goldman — which became the Spear–Hull Derivatives Group (SHD), one of the largest options specialist and trading divisions in the industry.  In addition, Andrew volunteered at the American Stock Exchange as an exchange Official, a peer-elected, on-floor compliance officer.

In 2007, Andrew and a colleague incubated an investment portfolio called The Sustainable Fund, which focused on three main global needs: alternative energy, clean water, and sustainable agribusiness — using options as part of the core strategy.  2008 market conditions demanded that his colleague responsible for fundamental analysis concentrate full-time on her other RIA business. The Sustainable Fund served as the progenitor of Stakeholders Capital.

In 2002, Andrew and his wife moved to Massachusetts from New York City to focus on raising their children.  Andrew then started his own business consulting firm, Stakeholders, Inc., which specialized in issues of corporate responsibility.  He has been active in several non-profits as both a volunteer and trustee.  Andrew has also done fundraising consulting for non-profits.

With Terry and several other professionals, Andrew co-organized the first-ever Pioneer Valley Sustainable Investment Summit in summer 2008.  The organizers share a common interest in corporate social responsibility (CSR) and socially responsible investing (SRI).  Over 60 area representatives attended from all sectors of society: private, public, non-profit, and social venture organizations.

Evoking the anti-pollution campaign “Give a hoot, don’t pollute!” by the US Forest Service with their pitch-animal, Woodsy Owl; Andrew likes to jokingly say: “Give a hoot, make some loot!”

Andrew has a BA/BS from the University of Virginia and a Masters Degree in Education from the University of Massachusetts, Amherst. He holds the FINRA Series 65 Investment Advisor registration.

Susan Wennemyr, Co-Founder & Sales Agent

Susan@StakeHoldersCapital.com, (888) 785-4537 x.4

Susan Wennemyr, co-founder and sales agent, is a theological ethicist who left the ivory tower of academe to put her ideals into practice in capital markets. She graduated from Harvard University “cum laude” and received her Ph.D. from the University of Chicago. At Manchester College, she taught courses on major religions, with ethics as an abiding theme.  For Brethren Colleges Abroad, which provides Junior Year Abroad programs for U.S. students, she founded an exchange program with Kerala, India — which has a successful economic development model based on women’s rights and universal literacy. When Sarajevo was being shelled, she made Manchester a host college for a Bosnian Muslim student refugee program.

Her longing for the East Coast was sated when Yale made her Dean of their Davenport College. At Yale, she taught International Christian Ethics.  After four years dedicated to raising her children in Vermont, she moved to Amherst and became licensed in securities at Merrill Lynch, after which she practiced financial planning and learned the insurance business at MassMutual.  In addition to holding the Series 7 and 66 FINRA designations, she is licensed to sell insurance and annuities.

Susan’s publications include articles in the following periodicals: Business Ethics, The Encyclopedia of Feminist Theory, SocialFunds.com, Sojourners, and Brain,Child: The Magazine for Thinking Mother.  She has lectured on four continents. StakeHolders Capital draws on her passion for a more equitable and sustainable future. She is especially excited to be investing in funds that practice shareholder advocacy, whereby minority shareholders organize to pressure their corporations to meet higher standards in carbon emissions and labor rights.  She is also convinced that the marriage of time-tested options strategies with ethical investment is a union long overdue.  Founding StakeHolders was the right thing at the right time in her growth as an investor, thinker, and activist.

While Susan spends most of her time pursuing other projects, she still maintains a strong relationship with the firm she helped start and introduces new clients to StakeHolders Capital.

Brad Stonberg, Treasurer & Co-Founder

Brad@StakeHoldersCapital.com, (888) 785-4537 x.3

Brad Stonberg, Treasurer and co-founder, began trading stocks successfully at the age of 13 under the tutelage of his father.  At Boston University’s School of Management he studied business and finance, graduating “cum laude” in 1984.  While at college, he worked with the social activist Howard Zinn engaging active strategies for peaceful and thoughtful dissent toward real and practical ends.  Combining social activism with economic study, Brad protested the development of nuclear submarines and military manufacturers’ economic strategies of profiting from war. Today, his participation in StakeHolders Capital represents a natural growth in his commitment to social change through economic responsibility.

In 1992 Brad began a successful career as an options market maker while trading on the floor of the American Stock Exchange, where he mastered options trading.  Concurrently he was volunteering at New York Cares, spending educational time with children from underserved communities.  It was at New York Cares that Brad met and became fast friends with fellow volunteer and future business partner, Andrew Bellak.  Together they formed an independent options market making trading firm; in 2000 their firm was purchased by Goldman Sachs, where both Brad and Andrew continued their work together.

Other than being an options trader, Brad established the first organic bakery in the state of Oregon, a pretzelry!, with a childhood friend, enjoying both the business and the practice of daily baking.  On a personal level he practices a vegetarian diet and cooks vegetarian meals weekly as a volunteer at Integral, a Buddhist yoga center in New York City.  Through StakeHolders Capital,  Brad engages his two strong suits, the first being his deep understanding of options trading and the second being his commitment to social responsibility and the sustainable care of our planet.

Brad holds the FINRA Series 65 registration.