S. Ashton Stuckey graduated from Rhodes College in 1966 with a Bachelor of Arts degree in Economics. Since 1967, he has been involved in many areas of the securities business. As an Executive Vice President of SouthTrust Corporation, a bank holding company, he managed the Investment Division which included fixed income sales and trading, as well as funding, investment portfolio management and asset liability management. For eight years prior to joining The Frazer Lanier Company, Mr. Stuckey was a Managing Director of a New York Stock Exchange firm where he managed the Fixed Income Division. Responsibilities with The Frazer Lanier Company include fixed income trading, municipal underwriting and management of institutional sales. Mr. Stuckey has served as a member of the Municipal Securities Rulemaking Board and as a member of the MSRB Professional Qualifications Committee.