Professor McNally received his M.A. in economics from Simon Fraser University in 1986 and subsequently worked as an economic consultant and as a research economist at the Fraser Institute. In 1993 he received his Ph.D. in finance from the University of Toronto. After leaving Toronto, he taught for seven years at the University of Victoria. In 1999 he joined the faculty at Laurier. His primary research interests are in stock repurchases, insider trading, and market microstructure. Professor McNally's research has been published in journals such as Financial Management, the Journal of Applied Corporate Finance, and the Journal of Banking and Finance. Professor McNally is innovative in the use of technology for teaching. He has written an online introductory finance textbook titled iFinance.