MICHAEL J. FALCONE
Chairman Emeritus & Founder
Chairman, Investment Advisory Committee

Michael J. Falcone began his real estate career in 1952, when at the age of 16, he became the youngest licensed real estate salesman in the State of New York. Born into a family of contractors and real estate brokers, he is the third generation to become involved in the real estate industry. Mr. Falcone graduated from Syracuse University in 1957 with a degree in business and joined a large Syracuse area real estate company as a commercial salesman.

In 1961, after serving in the Air Force Reserve for 12 months he began purchasing and re-developing shopping centers throughout upstate New York. In 1969 he and an old high school friend in the contracting business formed the Pyramid Companies and built shopping centers, warehouses, office buildings and student apartments throughout the northeast. In 1975, Mr. Falcone left Pyramid and formed The Pioneer Group, which quickly became one of the largest downtown office building developers in Central New York, with major projects in Buffalo, Rochester and Syracuse. In 1987, sensing a shift in industry cycles, Mr. Falcone along with his two sons Michael and Mark created a new company, Pioneer Development Company, to expand and diversify their efforts into larger geographic areas and product type.

Currently Mr. Falcone serves on the Board of Trustees of Syracuse University. He is a member of the New York State Business Council and the Corporate Advisory Council for the Syracuse University School of Management. He previously served as Chairman of the Board of Directors of First National Bank of Rochester and of LeMoyne College. Among others, he has served and on the boards of M & T Bank, the Greater Syracuse Chamber of Commerce and the Community Foundation of Central New York. Mr. Falcone has received numerous awards and honors including the Mayor's Achievement Award for Syracuse, the 1992 Syracuse University Jonathon Holtz Alumnus of the Year award, the 1995 Boy Power Distinguished Citizen Award, the 1996 Temple Adath Citizen of the Year Award and the 2000 Post Standard Achievement Award.