Pierce W. Hance, Co-founder and Managing Director, has been engaged in the public and private capital markets for over 25 years, bringing extensive experience in financial products and structures tailored for small and middle market companies. In 1992, Mr. Hance merged Harbor Associates, a corporate finance and investment banking firm specializing in restructuring and recapitalization activities, with SAG. Since the combined firms inception, Mr. Hance has served as the lead advisor and agent for the merger and acquisition services and private equity placements activities of the firm. Mr. Hance oversees the investment committee and equity placements of the firm. In addition, Mr. Hance works with venture capital firms and other private investors on portfolio investments with franchisers and serves as the firm s expert witness for this industry. Prior to founding Harbor Associates, Mr. Hance spent ten years in the merchant banking and lending divisions of Bankers Trust. Mr. Hance also served as the head of the combined national and international divisions of the First National Bank of Commerce. Mr. Hance holds a B.S., MBA and MA in Economics.