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About Baker

Since 1979, The Baker Group has provided investment portfolio and interest rate risk management to community banks nationwide. Our approach of total resource integration utilizes software and products developed by Baker’s Software Solutions along with the firm’s investment experiences and advice. One phone call allows you to discuss both your interest rate risk and investment portfolio strategy. No outsourcing here — while other brokers/dealers talk the talk, The Baker Group continues to practice what it has preached for three decades.

Expanding our service areas

The Baker Group continues to grow and evolve. Our expertise has expanded into new products and services and into new territories.  Baker is endorsed by 5 state community banking associations:
  • Alabama Bankers Association
  • Community Bankers Association of Illinois
  • Indiana Bankers Association
  • North Dakota Bankers Association
  • Independent Bankers Association of Texas

Management

Learn about the The Baker Group management team in our Management section, where you’ll find detailed bios on senior management.

DOUGLAS W. McQUEEN
Chairman of the Board

Douglas W. McQueen is Chairman of the Board of The Baker Group. His knowledge of finance, banking, and investments is well recognized in business communities.  Doug joined the firm at its inception in 1979 as a Vice President and Director.

Doug’s experience with the firm includes pioneering efforts in the development of the concept of asset/liability management, investment advisor, and consultant. He works with individual and institutional accounts throughout the United States in the critical areas of portfolio management, evaluation of asset/liability exposure, liability and loan pricing, and hedging strategies. As a Managing Director, Doug is in charge of trading in U.S. Government securities, agencies, and mortgage-backed securities.

Before joining the firm, Doug was an officer of a national bank in Oklahoma City where he handled the cash management position of the bank and was actively engaged in municipal and government bond sales, bond trading, and municipal underwriting.

Doug earned a Bachelor of Science Degree in Business from the University of Colorado where he majored in accounting. He has also completed the bank investment course of the American Institute of Banking. Doug is a registered investment advisor, principal, and representative with the FINRA and the Municipal Securities Rulemaking Board. In 1991, Doug was elected to serve as a member of the National Association of Securities Dealers District No. 5 Business Conduct Committee. (return to top)

DAVID DAUGHERTY
President and Chief Executive Officer


David Daugherty is President, Chief Executive Officer, and serves on the Board of Directors for The Baker Group. He has more than 30 years investment experience with community banks. He works exclusively with community banks in the design and implementation of investment and asset/liability strategies. In the process, he evaluates interest rate risk exposure, duration analysis, and recommends specific investment instruments that help maximize the earnings need of the institution.

Before joining The Baker Group, David served as President and Director at a regional investment banking firm.

David has presented investment seminars across the country, most recently to the Community Bankers Association of Illinois, Community Bankers Association of North Dakota, and the Community Bankers Association of Indiana.

David holds a Bachelor of Business Administration degree in Finance from the University of Oklahoma. He is registered as an investment advisor, principal, and representative with FINRA. He is also a registered principal with the Municipal Securities Rulemaking Board. He is a past member of the NASD (FINRA) Business Consultive Committee and a past member of the National Association of Securities Dealers 5th Business Conduct Committee and the NASD’s small firm’s committee. (return to top)

RICK HANSING
Managing Director

Rick Hansing is a Managing Director and serves on the Board of Directors. He works with banks in the areas of investments and asset/liability management. He also assists clients in a broad range of other areas including education, portfolio management, interest rate risk management, strategic planning, liability and loan pricing, and regulatory and accounting issues.

Rick received his Bachelor of Business Administration Degree from the University of Oklahoma. He is a registered representative and investment advisor with FINRA and a General Securities Principal. (return to top)

ERIC HARLAND
Managing Director

Eric Harland is a Managing Director and serves on the Board of Directors for The Baker Group. He has more than 15 years investment experience as a fixed-income strategist working with Community Banks. He works with financial institutions in the design and implementation of key investment and asset/liability strategies. Eric offers assistance to clients in a broad range of areas including evaluation of interest rate risk and duration exposure, exam preparation, liquidity management, ALCO & Board education. Eric specializes in helping community banks develop these strategies while offering assistance in selection of investment instruments that maximize bank earnings and performance while meeting the overall risk management needs of each institution. Eric’s focus is to develop strategies that build long-term shareholder value.

Originally from Oklahoma, Eric relocated his family to Springfield, IL in 1998 to open The Baker Group’s new regional office. After ten years in Springfield he has recently relocated back to our headquarters in Oklahoma.

Eric regularly presents investment seminars across the country, most recently to the Community Bankers Association of Illinois, Western Illinois Association of Bank Management, as well as multiple CEO forums and bank groups. Eric has also served on the faculty of the Midwest School for Community Bankers teaching investment and asset/liability management.

He is a registered representative and general securities principal with the Financial Industries Regulatory Authority (FINRA). (return to top)

CARL H. HOLLIDAY
Managing Director

Carl H. Holliday is a Managing Director of The Baker Group. As a founding member, he serves on the Board of Directors and acts in the capacity of Vice President of The Baker Group since joining the firm in 1979. Carl is a registered investment advisor, principal, and representative with FINRA and the Municipal Securities Rulemaking Board.

Carl works with institutional clients in structuring fixed-income and securities portfolios, utilizing his experience in the areas of asset/liability management, duration, security selection, financial trends, and liquidity risk analysis. Carl also works with individuals and trust accounts structuring their fixed-income portfolios based on their tax position and risk horizon.

In addition to the institutional clients, Carl is an equity portfolio manager structuring portfolios for high net worth individuals and foundations. This includes asset allocation responsibilities and stock selection.

Previously employed in the institutional investment department of a major Oklahoma bank, Carl was responsible for the portfolios of more than 100 correspondent banks. His responsibilities required knowledge of a number of investment areas including government and municipal bond trading, institutional sales, municipal underwriting, portfolio analysis, money market sales, cash management, and mortgage-back securities trading. Carl earned a Bachelor of Business Administration Degree in Finance from the University of Oklahoma. He is a graduate of the National School of Bank Investments. (return to top)

EDWARD A. KREI
Managing Director


Edward A. Krei is a Managing Director and Board member. He is a frequent speaker at banking and investment conferences, an instructor for financial institution regulatory agencies and a faculty member of numerous banking schools.

Ed received his Bachelor of Business Administration Degree in Accountancy from the University of Mississippi and was gold medalist on the CPA examination in Tennessee. He has served on the boards of numerous civic and charitable organizations. Ed is a registered principal with FINRA. (return to top)

MIKE MACKEY
Managing Director

Mike Mackey is a Managing Director and serves on the Board of Directors. He works primarily with banks in areas of investments and asset/liability management. He also assists clients in a broad range of other areas including education, portfolio management evaluation, interest rate risk, strategic planning, and regulatory issues.

Mike focuses on identifying the specific objectives of clients and tailoring investment portfolios to achieve their goals. In that process, he evaluates the relative values of a broad range of investment products and helps clients select those that compliment their investment portfolios.

Mike received his Bachelor’s Degree in Oral Communications from the University of Central Oklahoma. He is registered as an investment advisor, principal, and representative with FINRA. Mike is the Manager of the Austin, Texas office. (return to top)

TERRY McELWEE
Managing Director

Terry McElwee is a Managing Director and serves on the Board of Directors for The Baker Group. He works exclusively with community banks in the design and implementation of investment and asset/liability strategies. He also assists clients in a broad range of other areas including education, portfolio management evaluation, interest rate risk, strategic planning and regulatory issues.

Terry focuses on identifying the objectives of clients and then tailoring a long term strategic investment/asset liability plan. In that process, he evaluates the relative value of a broad range of investment products and helps clients select those that compliment their investment portfolios and overall balance sheet.

Terry has presented investment and asset/liability seminars to many banking organizations including Community Bankers Association of Illinois.

Terry earned a Bachelor of Arts Degree in Political Science from The University of Illinois at Springfield. He is registered as a general securities representative and general securities principal with FINRA and is the Manager of the Springfield, Illinois office. (return to top)

PHIL STENSETH, CFA
Managing Director

Phil Stenseth, CFA is a Managing Director of The Baker Group and serves on the Board of Directors. He is responsible for directing the firm’s fixed income trading operation. He is instrumental in the firm’s development of bank investment portfolio and interest rate risk management strategies, researching new investment products, and monitoring bank regulatory and compliance issues.  Additionally, Phil has revised and continues to enhance the firm’s proprietary software programs designed to assist clients in the management of their investment portfolio (APM) and the overall interest rate risk of their bank (IRRM).

Phil regularly conducts educational seminars for banking groups and associations nationwide. He has addressed various bank trade associations and serves as a faculty member of several national and regional banking schools. Phil has been frequently published in many banking journals and periodicals.

Phil holds a Bachelor of Science degree in Finance from the University of Arizona and is a Chartered Financial Analyst (CFA). He is a member of the Association for Investment Management and Research (AIMR) and the Financial Analysts Society. Additionally, Phil is registered as a general securities representative, an Investment Advisor with FINRA, and general securities principal. (return to top)

DANIEL R. TONSETH
Managing Director

Daniel R. Tonseth is a Managing Director of The Baker Group and serves on the Board of Directors. He has more than 25 years investment experience as a fixed income strategist working with financial institutions. He works with institutional accounts throughout the United States in the design and implementation of investment and asset/liability strategies. In that process, he evaluates interest rate risk exposure and duration analysis to recommend specific investment instruments that maximize the earnings needs of the institution.

Dan has conducted numerous educational seminars to banking associations and money managers nationwide, most recently to the Community Bankers Association of Indiana and the Picasso Group of Denver.

Dan earned a Bachelor of Science Degree in Business from Miami University where he majored in Finance. He is a registered investment advisor, a registered representative with FINRA, and general securities principal. (return to top)

RYAN W. HAYHURST
Managing Director

Ryan Hayhurst is a Managing Director and serves on the Board of Directors of The Baker Group LP. Ryan joined the firm in 1991, serving as Manager of the Financial Strategies Group and oversees the design and implementation of investment and asset/liability strategies for financial institutions. He is integrally involved in the continued development of the firm’s proprietary software designed to assist clients in the management of their investment portfolio (APM) and their overall interest rate risk profile (IRRM).

Ryan regularly develops and presents educational seminars nationwide with a focus on investment and interest rate risk management. He is a frequent speaker at banking conventions and investment conferences and has served as a faculty member of several national and regional banking schools.

Ryan holds a Bachelor of Business Administration Degree from the University of Oklahoma. He is a registered representative and general securities principal with the Financial Industry Regulatory Authority (FINRA).(return to top)