Flaherty & Crumrine Dynamic Preferred and Income Fund, Flaherty & Crumrine Preferred Securities Income Fund and Flaherty & Crumrine Total Return Fund Announces Executive Changes
April 21, 2015 at 06:02 pm EDT
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The Boards of Directors of Flaherty & Crumrine Dynamic Preferred and Income Fund Incorporated, Flaherty & Crumrine Preferred Securities Income Fund Incorporated and Flaherty & Crumrine Total Return Fund Incorporated elected R. Eric Chadwick as Chief Executive Officer and President and Bradford S. Stone as Chief Financial Officer and Vice President of the funds. Mr. Chadwick replaces Donald F. Crumrine as the principal executive officer of each fund and Robert M. Ettinger as the President. Mr. Chadwick had previously served as Chief Financial Officer and Vice President of FFC and FLC since 2004 and of DFP since its inception in 2013.
Mr. Crumrine had served as principal executive officer since the inception of each fund. Mr. Crumrine will continue to serve as the Chairman of the Boards of Directors. Mr. Stone replaces Mr. Chadwick as the principal financial officer of each fund.
Mr. Stone had previously served as a Vice President and Assistant Treasurer of FFC since 2003 and of FLC and DFP since the inception of each fund.
Flaherty & Crumrine Dynamic Preferred and Income Fund Incorporated (the Fund) is a diversified, closed-end management investment company. The Fundâs investment objective is to seek total return, with an emphasis on high current income. The Fund invests at least 80% of its Managed Assets in a portfolio of preferred and other income-producing securities issued by the United States (U.S.) and non-U.S. companies, including traditional preferred stock, hybrid and trust preferred securities that have characteristics of both equity and debt securities, contingent capital securities, subordinated debt, and senior debt. The Fund invests in various sectors, such as banking, financial services, insurance, utilities, energy, communication, and real estate investment trust (REIT). The investment manager of the Fund is Flaherty & Crumrine Incorporated.
Flaherty & Crumrine Dynamic Preferred and Income Fund, Flaherty & Crumrine Preferred Securities Income Fund and Flaherty & Crumrine Total Return Fund Announces Executive Changes
FLAHERTY & CRUMRINE DYNAMIC PREFERRED AND INCOME FUND INC. 
