Obituary: David W. Hunter / Investment firm founder, Nasdaq chairman

Aug. 11, 1928 - April 14, 2013


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David Hunter, founder and chairman of the Downtown-based Hunter Associates brokerage and investment firm and former Nasdaq chairman, died Sunday following a brief battle with cancer.

Mr. Hunter, 84, founded Hunter Associates in 1992 after working 37 years in the securities industry, beginning with McKelvy & Co. and then its successor, Parker/Hunter in 1969. He was chairman and CEO at Parker/Hunter from 1975 to 1984, stayed on as chairman through 1989 when he was named chairman emeritus until he started Hunter Associates.

Mr. Hunter was chairman of the National Association of Securities Dealers Inc. in 1986-87 and served as Nasdaq chairman in 1988. In 1992, he published a book, "Never Out of Season: A Timeless Guide to Building Your Wealth," which was updated in 2001.

"Dave was an innovator and leader in the securities industry. He was an early proponent of bringing affordable discretionary investment advice to the Pittsburgh market for individual clients," said Win Smathers, who is on the Hunter Associates management committee. "Working with Dave was a privilege."

Mr. Hunter attended Shady Side Academy, then earned a bachelor's degree in economics at Amherst College and an MBA from Harvard Business School before serving in the Army during the Korean War.

In addition to his work at Hunter Associates, Mr. Hunter served as director for several companies, including Kiene Diesel Accessories, Lockhart Companies, Mestek, OmegaFlex and Justifacts.

He also served on numerous community boards, including the Pittsburgh Public Theater. Mr. Hunter chaired the Pittsburgh-Allegheny Chapter of the American Red Cross from 1988 to 1992 and the East Central AAA from 1987 to 1990, and he was on the advisory committee for the Greater Pittsburgh Literacy Council. He was trustee of the Allegheny Trails Council Boy Scouts of America for 30 years, Westminster College for 25 years and the University of Pittsburgh's Katz Graduate School of Business for more than 30 years.

Mr. Hunter is survived by his wife, Mary of Richland; sons Peter of Morristown, N.J., and Crock of Gibsonia; a daughter, Susan of San Diego, Calif.; and four grandchildren.

Friends will be received from 1 to 9 p.m. today at Bock Funeral Home, 1500 Mount Royal Blvd., Shaler. A memorial service is scheduled for 1 p.m. Saturday at Glenshaw Presbyterian Church, 300 Glenn Ave.

Memorial contributions may be made to the Clark Hunter Foundation, Attn.: Sue Haberlein, 436 Seventh Ave., Fifth Floor, Pittsburgh 15219.

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Steve Twedt: stwedt@post-gazette.com or 412-263-1963.


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