Advisory board

  • Carolyn Williams Chairwoman

    In 1961, Carolyn married A. Duncan Williams and forged a life along the successes of his ability as a high producer in the municipal bond industry.  In April 1969, she helped her husband found Duncan-Williams, Inc.  While raising their two small children, Duncan and Emily, Carolyn set her feet on the path to learning the investment banking business over the next 20 years.  The company grew its business interests into that of a regional brokerage firm, underwriting municipal debt as the Southeastern United States was experiencing a boom in population.

    But in 1989, the operation was jolted by her husband’s death and Carolyn became the owner of Duncan-Williams, Inc.  It was her strong resolve to hold on to the family firm; and today she remains the Chairwoman of the Board, as Duncan-Williams, Inc. celebrates its 47th anniversary.

    She has lent her time and business insight to many charitable causes and has served as a member of the Board of Directors at the Bank of Germantown in Germantown, Tennessee. Carolyn currently serves on the Board of the University of Memphis Foundation, as well as the University’s Board of Visitors. Carolyn also is a patron of the arts and is a Board member of Theatre Memphis. Her greatest passion, though, is spending time on the Williams’ family farm called “The Roost” in Clarksdale, MS with close friends, family, and creating memories with her grandchildren.

    Email Carolyn
  • Duncan F. Williams President
    Duncan Williams

    DUNCAN F. WILLIAMS is the President of Duncan-Williams, Inc. of Memphis, Tennessee.  Mr. Williams has been with the firm since 1993 and has served as President since 2000. Duncan-Williams, Inc. is a full-service broker dealer, employing more than 100 employees, with branches in Boulder, CO; Doniphan, MO; Jackson, MS; Langhorn, PA; and Tampa, FL.  Since its founding in 1969 as a municipal bond dealer, the Company has expanded in sales, finance and underwriting of all fixed-income securities to the general public and financial institutions.

    Mr. Williams served on the Financial Industry Regulatory Authority (FINRA) Board of Governors for a three-year term from 2008 to 2010, and is currently serving on FINRA’s Statutory Disqualification Committee. He has also served on the National Adjudicatory Council (NAC) for FINRA, and is a past member of the FINRA Small Firm Advisory Board and the NASD Small Firms Impact Task Force. He served on the NASD District Nominating Committee, the NASD District Business Conduct Committee and was the committee’s chairman in 2002.

    Mr. Williams is a member of the Board of Directors Executive Committee of the Greater Memphis Chamber of Commerce and serves as Co-chair of its Chairman Circle. He is currently serving on the Memphis Convention and Visitors Bureau Board, is a past Chairman of The Leadership Academy (New Memphis Institute) in Memphis and still sits on their Board. Mr. Williams serves as an Advisory Board Member of SunTrust Bank and a member of St. Jude Children’s Research Hospital Professional Advisory Board. Mr. Williams is a past Board member of Presbyterian Day School, former member of the Memphis Economic Club Board and previously served on the Capital Campaign Committee of Shelby Farms. In 2012, he was selected as “Communicator of the Year” by the Memphis Public Relations Society of America and was named “CEO of the Year” by MBQ, and in 2013, he was inducted into the Society of Entrepreneurs. In 2012, Mr. Williams became one of the local owners of the Memphis Grizzlies NBA team.

    Mr. Williams graduated from the University of Alabama in 1990 and is a member of the President’s Cabinet, Commerce Executive Society, and the Board of Visitors at the University of Alabama.

    Duncan is married to Abigail (Abbie) Ware Williams, and is the father of three children.

    Email Duncan
  • Jack Schlifer

    Jack Schlifer has over 35 years’ experience in the capital markets and investment banking industries. He previously served as President of Debt Capital Markets including management of sales, strategies and public finance as well as the trading and distribution of all fixed-income products. Previously, Jack was Fixed Income National Sales Manager for Duncan-Williams, Inc. and established the firm’s Cleveland, OH, office.

    Prior to joining Duncan-Williams, Jack was Senior Managing Director of Fixed Income for Keybank Capital Markets, a division of Keycorp, where he supervised a team of 120 professionals and directed all facets of primary and secondary trading and sales. In addition, Jack served on the Executive Council and the Credit and Compliance Committee at Key Bank, and was a member of the board of directors for Key’s broker-dealer subsidiary, McDonald Investments, Inc. Jack also served as a member of the NASD’s District 8 Conduct Committee.

    Jack received his undergraduate degree from Miami University and his MBA from Cleveland State University.

  • Ken Steinberg

    Ken Steinberg has over thirty years of experience in the capital markets industry. His current responsibilities at Duncan-Williams, Inc. include managing the agency CMBS and the Fannie Mae DUS businesses for the firm. Ken’s experience and expertise is in the Fannie Mae DUS MBS where he has traded well over $100 billion since DW started trading the product in 1996.

    Ken received his BA in Business Marketing from the University of Memphis in 1983 and joined Duncan-Williams immediately after graduation.

  • Don Clanton

    Don Clanton has more than 40 years of experience in the securities industry. He served as the Chief Operating Officer of Duncan-Williams since 2009, prior to which he was the firm’s Executive Vice President of Debt Capital Markets.  Don was appointed to the Advisory Board in January 2018 upon his retirement from Duncan-Williams.

    Don has served as President of the Memphis Investment Bankers Association and was a member of FINRA’s Business Conduct Board. Currently, Don is active in the Bond Dealers of America.

    Don is also a member of The National Civil Rights Museum board of directors.

    Don is a proud graduate of Mississippi State University.

  • Jim Pauline

    Jim has more than 40 years of experience in the financial and securities industries.  He joined Duncan-Williams in 1995 and served as its Executive Vice President of Operations.  Upon his retirement from Duncan-Williams in January 2018, Jim was appointed to the Advisory Board.

    Before joining Duncan-Williams, Jim founded SPS, a securities processing services firm, that provided securities clearing and financing services predominately to the participants in the fixed-income markets, including Duncan-Williams. Previously, Jim ran the Security Custody and Delivery department of Bache & Co., a major NYSE firm. Jim began his career as a trust and loan officer at Citibank

    Jim is licensed as Operations Principal and General Securities Principal.