February 18, 2014 Our Press Room

FOR IMMEDIATE RELEASE                          Contact:          Herb W. Morgan

February 18, 2014                                                          Phone:             (888) 327-4600 x105



David Wescoe Joins EMA as President


(San Diego, CA)  Herb W. Morgan, CEO and Chief Investment Officer of Efficient Market Advisors, LLC (EMA), announced today that David B. Wescoe has joined EMA as President.  “I am very pleased to announce that David will be joining EMA in a senior management role.  David brings many talents to EMA: he is an experienced and successful investment, financial and operational executive who has managed two multi-billion dollar pension plans and one of the countrys largest independent broker-dealers.  I look forward to working with David to continue EMA’s rapid growth.”


Mr. Wescoe noted that, “I have known and respected Herb for a long time, and I think portfolios of exchange traded funds (ETFs) are a terrific way for individuals and institutions to invest in the markets.  Herb and EMA have a long and successful track record constructing ETF portfolios.


Prior to joining EMA, Mr. Wescoe was the chief executive of the Motion Picture Industry Pension and Health Plans, which managed over $6 billion in investment assets for thousands of participants in the motion picture industry.  He was recruited to MPI after serving as the CEO of the San Diego City Employees’ Retirement System (SDCERS), managing over $5 billion in investment assets.  At SDCERS, Mr. Wescoe received the “Most Admired Government Agency CEO Award” from the San Diego Business Journal, and the San Diego City Council declared March 9, 2010 “David B. Wescoe Day” in San Diego “in appreciation of [Mr. Wescoe’s] willingness and tremendous efforts to restore the San Diego City Employees’ Retirement System’s operational integrity and credibility.”


Mr. Wescoe began his career as a corporate finance lawyer with Simpson Thacher & Bartlett in New York City and then served as Counsel to Commissioners Bevis Longstreth and James C. Treadway, Jr. of the U.S. Securities and Exchange Commission in Washington.  After the SEC,  he was a partner in private law practice specializing in corporate and securities law, Chief Financial Officer and General Counsel for several NYSE-listed companies and as President and CEO of Northwestern Mutual Investment Services, the broker-dealer subsidiary of Northwestern Mutual, one of the largest independent broker-dealers in the United States.


Mr. Wescoe is a frequent speaker on financial topics, and he has been quoted by The New York Times, The Wall Street Journal, National Public Radio and Governing magazine.  He also testified before California’s Commission on Public Employee Post-Employment Benefits.


Efficient Market Advisors, LLC (EMA), which was founded in 2004, is an independent, employee-owned SEC-registered investment advisor focused on the ETF Strategist business.   EMA, which was recently recognized as a “A Top 400” Registered Investment Advisor by Investment News, creates proprietary investment portfolios using exchange trade funds (ETFs).



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