Our Team

At Penn Capital, our employees are not only skilled investment management industry professionals, many are also owners of the firm. We believe this structure leads to continuity and consistency across all areas of our firm and ensures our interests are aligned with those of our clients.

Richard Hocker

Founder, Chief Executive Officer, Chairman of the Board

Mr. Hocker founded Penn Capital in 1987 and serves as Chief Executive Officer, guiding overall portfolio strategy. His investing and institutional non-investment grade corporate lending experience spans over 40 years. While serving as a Partner for Delaware Investment Advisors (DIA) from 1977 to 1987, he was responsible for building the investment side of DIA’s fixed income operation. During this period, Mr. Hocker developed and managed one of the nation’s first high yield mutual funds, the Delchester High Yield Bond Fund. He also served as the first high yield bond manager for several institutional clients including General Motors, State of Vermont Teachers Retirement Association, and Colorado Fire and Police.

Prior to DIA, Mr. Hocker trained as a corporate lender and supported key senior lenders at Provident National Bank, which is now PNC Bank, a top 20 US Banking institution. He later rose to serve as head of the investment division. Mr. Hocker also founded and served as CEO of Covenant Bank, a NJ based regional bank which grew to 16 branches and $500m in deposits before being acquired by First Union in 1997.

He and his wife, Marcia Hocker, are the founders of the Ethel Mae Hocker Foundation which provides scholarship opportunities to less fortunate, deserving Greater Philadelphia-area elementary and high school students who have demonstrated leadership abilities, academic success, commitment to the community, and need financial support. Mr. Hocker received both his BS in Accounting and an MBA in Finance from the Kogod School of Business at American University.

Eric J. Green, CFA

Chief Investment Officer – Equity, Senior Portfolio Manager, Senior Managing Partner

Mr. Green has been with Penn Capital since 1997. As CIO of Equity, he is responsible for guiding the firm’s equity strategies. Mr. Green serves as a Senior Portfolio Manager for Penn Capital’s Small Cap, Small to Micro Cap, and Mid Cap equity strategies. He is also a member of the firm’s Executive Team, which oversees the firm’s overall corporate strategy and management.

Prior to joining Penn Capital, Mr. Green was with the Federal National Mortgage Association, the Royal Bank of Scotland, and the United States Securities and Exchange Commission where he served as a financial analyst in the Division of Investment Management. Mr. Green is also Vice Chairman of the Board of Directors for the Anti-Defamation League (ADL) Mid-Atlantic Region and Co-Chairman of the ADL's 2018 Walk Against Hate.

He received a BSBA cum laude from American University and an MBA from the Yale School of Management.

Peter Duffy, CFA

Chief Investment Officer – Credit, Senior Portfolio Manager, Senior Managing Partner

Mr. Duffy has been with Penn Capital since 2006. As CIO of Credit, he is responsible for guiding the firm’s credit strategies. Mr. Duffy serves as a Senior Portfolio Manager for Penn Capital’s Defensive, Short Duration High Yield, and Multi-Credit Spectrum strategies. He is also a member of the firm’s Executive Team, which oversees the firm’s overall corporate strategy and management.

Prior to joining Penn Capital, Mr. Duffy was a Director for Deutsche Asset Management’s global high yield debt team. Previously, he was with GE Capital and was a management consultant at Arthur Andersen LLP. He received a BS in Finance summa cum laude from Villanova University and an MBA from The Wharton School of the University of Pennsylvania.

Joseph Maguire, CFA

Director of Research, Senior Portfolio Manager, Senior Managing Partner

Mr. Maguire has been with Penn Capital since 2005. As Director of Research, he is responsible for guiding the firm’s day-to-day global investment research process. Mr. Maguire chairs the Equity Risk Committee and serves as a Portfolio Manager for Penn Capital’s Small to Mid Cap equity strategy and as a Co-Portfolio Manager for the firm’s Convertible strategy.

 Prior to joining Penn Capital, he was a senior audit associate for PricewaterhouseCoopers LLP, and conducted private equity research for AMS Inc. He received a BBA in Accounting from The College of William & Mary and an MBA from the Kenan-Flagler Business School at the University of North Carolina at Chapel Hill.

J. Paulo Silva, CFA

Senior Portfolio Manager, Senior Managing Partner

Mr. Silva began his career with Penn Capital in 2002 as a Research Analyst focused on technology and industrial companies. He currently serves as a Portfolio Manager for Penn Capital’s Micro Cap and Small Cap Value equity strategies. As a member of the Equity Risk Committee, Mr. Silva works closely with the equity portfolio management team to contribute ideas specifically in the micro to mid-capitalization range. He is also a member of the firm’s Executive Team, which oversees the firm's overall corporate strategy and management.

In addition, Mr. Silva has focused on several distressed debt situations, successfully completing a reorganization through serving on the official committee of creditors. Beyond Penn Capital, Mr. Silva serves on the Investment Committee of the Valley Forge Military Academy. He received a BS in Civil Engineering summa cum laude from Tufts University and an MBA from the Yale School of Management.

David Jackson, CFA

Senior Portfolio Manager, Senior Managing Partner

Mr. Jackson began his career with Penn Capital in 2008. Mr. Jackson chairs the Credit Risk Committee and serves as a Portfolio Manager for Penn Capital’s Defensive Floating Rate Income strategy and as a Co-Portfolio Manager for the firm’s Opportunistic High Yield strategy. Prior to joining Penn Capital, Mr. Jackson was an Associate Director with the Financial Institutions Group at Fitch Ratings in New York City, where he assisted with rating coverage of the specialty finance sector. He also gained experience working for the Federal Reserve Bank of Philadelphia on the bank supervision and regulation team. He received a BS in Finance from Rutgers University School of Business. 

Martin Smith

Senior Portfolio Manager, Senior Partner

Mr. Smith began his career with Penn Capital in July 1999 and serves as a Co-Portfolio Manager for Penn Capital’s Opportunistic High Yield strategy. He began his investment career in small cap equity research with Cantone Research, Inc., an independent equity research firm. Prior to joining Penn Capital, Mr. Smith served as a high yield analyst with Merrill Lynch Asset Management. Mr. Smith received his BBA in Finance from Pace University and an MBA from Rutgers University.

Steven Civera, CFA

Senior Portfolio Manager, Senior Partner

Mr. Civera began his career with Penn Capital in 2010. His primary area of sector coverage is the Technology sector. He also serves as Co-Portfolio Manager for the firm’s Convertible strategy. Prior to joining Penn Capital, Mr. Civera was a Research Analyst for AlphaOne Capital Partners where he covered Technology and Renewable Energy. He also gained experience working for the Center for Financial Research and Analysis, a forensic accounting research firm, as well as an Analyst for Global Capital Management. He received a BSBA in Accounting from Bucknell University and an MBA from Loyola College in Maryland.

Scott Schumacher

Senior Portfolio Manager, Senior Managing Partner

Mr. Schumacher began his career with Penn Capital in 1987 and is responsible for global oversight of all Equity and High Yield trading as well as portfolio administration. Mr. Schumacher is also a member of the firm’s Executive Team, which oversees the firm's overall corporate strategy and management. He received a BS in Accounting from Rutgers University.

Chad Bolen, CFA

Senior Research Analyst, Senior Partner

Mr. Bolen began his career with Penn Capital in 2013 and has nearly 18 years’ experience working in the financial markets with the past 12 years focused on equity research. His primary areas of sector coverage are the Consumer Discretionary and Staples sectors. Prior to joining Penn Capital, Mr. Bolen was a Senior Equity Research Associate at Raymond James Financial in St. Petersburg, FL covering the Consumer sector. He also gained experience working for Morgan Stanley in Clearwater, FL as a financial advisor. He received a BA in Organizational Behavior and Management from Brown University.

Suhail Chandy, CFA

Senior Research Analyst, Senior Partner

Mr. Chandy began his career with Penn Capital in 2013. His primary areas of sector coverage are the Financials and Technology sectors. Prior to joining Penn Capital, Mr. Chandy was a Vice President at Adelante Capital Management, where he was a member of the investment committee. He also served as a Senior Analyst covering Telecom Infrastructure at Wedbush Securities as well as holding various positions in equity research at Jefferies and at Cowen and Company. His industry experience includes roles in corporate finance, supply chain management, pricing, investment analysis, and software engineering in India, Japan, Singapore, and the US. Mr. Chandy received a B. Tech from Sri Venkateswara University, a PGDM from IIM, and an MBA from Yale University.

Christopher Paciello, CFA

Senior Research Analyst, Partner

Mr. Paciello began his career with Penn Capital in 2012. His primary areas of sector coverage are the Consumer Discretionary and Telecommunications sectors. He has over 13 years' experience working in the financial markets with a focus on high yield and distressed securities. Prior to joining Penn Capital, Mr. Paciello was a Research Analyst at Standish Asset Management focused on high yield and distressed securities within the cable media, telecommunications, paper and packaging, and healthcare sectors. He also gained experience working for Gartmore Global Investments as a Research Analyst focused on high yield and distressed securities, and W.R. Huff Asset Management, an asset manager specializing in high yield securities, as a trader and an analyst focused on high yield and equity securities. Mr. Paciello received a BS from Babson College and an MBA from Villanova University.

Howard Bryerman, CFA

Senior Research Analyst, Partner

Mr. Bryerman began his career with Penn Capital in 2013. His primary areas of sector coverage are the Consumer Discretionary and Materials sectors. Mr. Bryerman had 20 years’ experience as an investment professional specializing in high yield bonds, senior floating rate loans, and distressed securities. Prior to joining Penn Capital, he most recently was a Managing Director at Penn Mutual Insurance where he managed the firm’s high yield bond investment portfolio. Prior to joining Penn Mutual Insurance, he was a Director and Senior Analyst for Wells Fargo Asset Management’s (Evergreen Investments) $3.5b high yield funds and for Deutsche Asset Management’s $5b global high yield funds. He also gained experience as a Senior Analyst for Bank of New York Capital Markets and a Senior Manager in Grant Thornton’s Bankruptcy and Reorganization practice. Mr. Bryerman received a BS degree in Accounting from the University of Connecticut and an MBA in Finance from New York University’s Stern Graduate School of Business.

Randall Braunfeld

Senior Research Analyst, Partner

Mr. Braunfeld began his career with Penn Capital in 2015. His primary areas of sector coverage are the Utilities and Energy sectors. He is also the Senior Research Analyst for Penn Capital’s Defensive Floating Rate Income strategy. Prior to joining Penn Capital, Mr. Braunfeld was a Portfolio Manager of a high yield BB-rated bond portfolio for First Niagara Bank. He also gained experience working at Lehman Brothers within its high yield loan portfolio group from 2004 - 2011. Following Lehman’s bankruptcy filing, he remained at the firm to focus on maximizing recovery values of the loan portfolio. Mr. Braunfeld received a BA from the University of Pennsylvania and has a MA in International Economics and Finance from Brandeis International Business School.

Bradley D. Tesoriero, CFA

Senior Research Analyst, Partner

Mr. Tesoriero began his career with Penn Capital in 2015. His primary areas of sector coverage are the Industrials and parts of the Materials sectors. Prior to joining Penn Capital, Mr. Tesoriero was a Research Associate at CRT Capital focusing on distressed debt, equity, and high yield research for the Media and Telecommunications sectors. Previously, he held positions at Bank of America Merrill Lynch and Janney Montgomery Scott. Mr. Tesoriero received a BA from Cornell University, an MBA from the Robins School of Business at The University of Richmond, and a JD cum laude from the T.C. Williams School of Law at The University of Richmond.

Donald J. Polis, Jr.

Manager of Client Relations

Mr. Polis joined Penn Capital in 2008 as a Portfolio Accountant. He currently serves as Manager of Client Relations. Mr. Polis devotes much of his time improving the firm’s institutional client and consultant relationship management practices. His responsibilities also include assisting in the management of daily firm operations with specific focus on improving the firm’s operational workflows in the areas of trading, settlements, and middle to back office system platforms. Mr. Polis received his BS in Business Studies with a concentration in Finance from The Richard Stockton College of New Jersey.

Kevin Bogert

Client Relations Associate

Mr. Bogert joined Penn Capital in 2018.  As a member the Client Service Relationship team, Mr. Bogert  currently manages the firm’s national accounts platform relationships . His responsibilities also include assisting in daily firm operations, providing quantitative analysis, developing marketing materials and product development. Prior to Penn Capital, Kevin worked at JP Morgan working on the Client Reference Data Team where he was responsible for reviewing client documentation for compliance approval.  Mr. Bogert received his BS in Finance from The University of Delaware and is a candidate for the CFA Level II exam.

Kate Scarpato

Client Relations Associate

Mrs. Scarpato joined Penn Capital in 2018.  She currently serves as a Relationship Manager with responsibilities for client reporting, database integrity and client service functions.  Mrs. Scarpato has over 30 years of experience in the Investment Management industry.  Prior to joining Penn Capital she worked on the performance team at Janney Montgomery Scott.  Prior to Janny Montgomery Scott, she served as a Client Service Liaison for 11 years at SEI Investments.  She also worked for Rittenhouse Asset Management/Nuveen Investments, within their Operations department for over 9 years.  Mrs. Scarpato attended Cabrini College with a focus on Organizational Management.

Marcia Hocker

Founder, President, Senior Partner

Mrs. Hocker serves as President of Penn Capital Management. Mrs. Hocker’s responsibilities include overseeing the firm’s accounting and financial controls, human resources, and long-term business strategy. She also serves on the firm’s Executive Team, which oversees the firm's overall corporate strategy and management. Prior to founding Penn Capital, Mrs. Hocker was involved in establishing and managing several businesses in the financial, retail, and service industries. Mrs. Hocker served on the Board of Directors of a $500m community bank that was acquired in 1995. Mrs. Hocker co-founded the Ethel Mae Hocker Foundation which provides scholarship opportunities to less fortunate, deserving Greater Philadelphia-area elementary and high school students who have demonstrated leadership abilities, academic success, commitment to the community, and need financial support. Mrs. Hocker graduated from Strayer University.

Gerald McBride, CPA

Chief Operating Officer, Chief Financial Officer, Senior Partner

Mr. McBride began his career with Penn Capital as Chief Financial Officer in 2007 and was named Chief Operating Officer in 2013. Mr. McBride has over 20 years of operational and managerial experience including serving as a Vice President and Controller with the NCO Group, Inc., a leading global provider of business process outsourcing solutions. Previously, he was with PricewaterhouseCoopers LLP for 12 years, with a primary focus on middle market growth companies. Mr. McBride is responsible for the oversight of the Penn Capital’s finance, operations, technology, and administration functions and serves on the firm’s Executive Team, which oversees the firm's overall corporate strategy and management. He received a BA in Accounting from Rutgers University and is a Certified Public Accountant.

Robert McLaughlin, CFA

Director of Investment Services, Senior Partner

Mr. McLaughlin joined Penn Capital in 2011 as Operations Manager. He currently serves as Director of Investment Services with responsibility for overseeing the firm’s middle-to-back office processes, client reporting, and client service functions. Mr. McLaughlin has over 15 years of experience in the investment management industry and prior to joining Penn Capital was a Director with Evergreen Investments’ Global High Yield team, serving as a Trader and Portfolio Analyst. Prior to Evergreen, he was a Director at Deutsche Asset Management, where he held various positions including Trader and Portfolio Analyst on the Global High Yield team and Performance Analyst in the Fund Administration group. He received a BS in Accounting from Villanova University and an MBA with a concentration in Finance from Widener University. Mr. McLaughlin also holds the Chartered Financial Analyst designation.

Marty Keane

Managing Partner, Sales, Marketing & Technology

Mr. Keane joined Penn Capital in 2009 as Vice President of Information Technology. He has served as Chief Technology Officer and is now Managing Director of Marketing, Distribution, and Technology. Mr. Keane has over 31 years of experience in the engineering and technology industries and holds numerous Information Technology industry certifications. Prior to joining Penn Capital, he was Vice President of Business Technology for Rittenhouse Financial Services and later, Vice President of Managed Assets Business Technology for Nuveen Investments. Mr. Keane’s focus was on developing the strategic vision and tactical application of technology. He’s been an active member of The Money Management Institute and has held various leadership positions within the Technology/Operations Committee. Mr. Keane received an AAS in Electrical Engineering from the Radio Electronic Television School, a BS in Information Technology Management, and an MBA, both from The University of Phoenix.

Kirsten Hocker

Chief Administrative Officer, Director of Philanthropy and Diversity, Senior Partner, Secretary of the Board

Ms. Hocker joined Penn Capital in 2002. As the Chief Administrative Officer, her specific areas of responsibilities include human resources, business operations, and corporate governance. In addition, Ms. Hocker serves as the head of Penn Capital's Philanthropic Committee, dedicated to giving back to the local community through various organization and partnerships. She also serves as the President of the Ethel Mae Hocker Foundation and received a BS in Education from Rollins College.

Linda R. Ridolfi

Chief Compliance Officer, Partner

Ms. Ridolfi joined Penn Capital as Chief Compliance Officer in 2016 and is responsible for the development, implementation, and oversight of the firm’s Compliance program. Ms. Ridolfi has been involved in the Regulatory/Compliance field for over 20 years and most recently served as President and Chief Compliance Officer for Lombard International Distribution Company and as Chief Compliance Officer of Lombard International’s affiliated insurance company. Throughout her career Ms. Ridolfi has served in a variety of regulatory and compliance roles at a compliance consulting firm, The Bank of New York Mellon, PFPC Inc., and began her career as a paralegal at the law firm Stradley, Ronon, Stevens & Young, LLP. Ms. Ridolfi received a BA in Psychology and BS in Criminal Justice, both with honors, from New Mexico State University.

Ron Burke

Manager of Investment Services

Mr. Burke joined Penn Capital in 2007 as a Portfolio Accounting Supervisor. He has over 20 years of experience in the investment management industry and currently serves as Manager of Investment Services. Prior to joining Penn Capital, he was a Financial Analyst for Ashbridge Investment Management and a Portfolio Accounting Supervisor for Rittenhouse Financial Services. Mr. Burke is responsible for the oversight of operational functions including portfolio accounting and account reconciliation. He also focuses on performance reporting and ensuring compliance with the GIPS®. Mr. Burke received a BS in Business Administration from Neumann University.

Chris Skorton

Senior Associate of Investment Services

Mr. Skorton joined Penn Capital in 2013 as a Portfolio Accountant. He currently serves as Senior Associate. Mr. Skorton devotes much of his time in a business analyst role ensuring best in class middle to back office operations for the firm. His responsibilities include vendor analysis and management, software implementation and integration, syndicated loan administration and settlement, in addition to custodial relationship management, trade settlements, corporate actions, and account reconciliations. Mr. Skorton received his B.A. in Economics from Moravian College.

Joseph McDonnell

Corporate Controller

Mr. McDonnell joined Penn Capital in 2009 and currently serves as the firm's Corporate Controller. He is responsible for financial reporting, budgeting, strategic planning, and analysis and oversees the audit process for both public and private funds. He serves as the Chief Financial Officer for the Ethel Mae Hocker Foundation. Mr. McDonnell received his BS in Accounting from Saint Joseph's University.