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Innovative Investing
          Based on Experience 
 

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  Management
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David D. Elliman, Chairman


David D. Elliman earned a B.A. in Biology from the University of Pennsylvania, and M.S. in cell biology from the University of California, at Irvine, and an MBA in finance from the Wharton School. After graduating from Wharton in 1977, David worked at Citibank N.A. until co-founding Elmrock with Mr. Penn. In addition to his work at Elmrock, David is a director of Applied Signal Technology Inc. (APSG NASDAQ) and a number of other private companies. David served as a director of CapMAC Holdings, Inc. (KAP NYSE) until its merger with MBIA in 1988.

Arthur S. Penn, President

Arthur S. Penn founded Elmrock with David Elliman in 1982. Prior to the founding of Elmrock, Arthur was a practicing attorney in New York City. He was involved in divesified investment opportunities during the 1970s and 1980s as well as real estate management and conversion. He earned his J.D. degree from New York University School of Law in 1961 and his B.A. from Cornell in 1956. He has served on the boards of directors of many private companies and was the Vice-Chairman of CapMAC (KAP NYSE) until its merger with MBIA.


Margot S. Rubin, Chief Operating Officer

Margot S. Rubin joined Elmrock as its Chief Operating Officer in 2004, having served as a consultant and attorney to Elmrock and its affiliates for almost a decade. Prior to joining Elmrock, Margot served as Chief Operating Officer of ProcurEase, LLC, a small technology firm. Margot practiced law at Paul, Weiss, Rifkind, Wharton and Garrison, and has also worked at the NBA and Salomon Brothers Inc. Margot received her B.A. from Harvard in 1985 and her J.D. from Yale in 1989.


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  © Elmrock Capital, Inc. 2006