Residence: Beverly Hills
Background: Stephen Prough, 51, was appointed to the CalSavers Retirement Savings Board September 26, 2019 by Governor Gavin Newsom. Mr. Prough founded and, since 1997, has served as co-chief executive officer of Salem Partners LLC and Salem Partners Wealth Management LLC where he advises clients on investment choices and long-term planning for retirement. He was vice president of the Media and Communications Investment Banking Group at Furman Selz LLC from 1992 to 1997. Mr. Prough is co-chairman of LA Promise Fund and a member of the Critical Mass Studios Inc. Board of Directors, Professional Advisory Committee of the Motion Picture and Television Fund, and the Berti Prough Family Foundation Board. Mr. Prough holds a number of securities licenses from the Financial Industry Regulatory Authority, including Series 7, 63, 79, 99 and 24. Mr. Prough is a graduate of Harvard College where he was recognized as a Harvard Scholar.