Malcolm D. Bailey was the founder and CEO of TEC Industries until his interests were sold in 1998 to DQE of Pittsburgh, Pennsylvania. TEC Industries and its related interests were active in the design, construction, and ownership of water and wastewater treatment and distribution systems throughout Texas.

A native of Dallas, Bailey earned his B.B.A. from The University of Texas at Austin in 1956. He has been guest lecturer at several universities and has served as president of several trade organizations. He remains active in the utility, aviation and banking industries.

Bailey and his wife Patsy have three adult children, all of which attended UT Austin, and seven grandchildren, residing in Houston and Dallas.