SEATTLE--(BUSINESS WIRE)--Smead Capital Management, a Seattle-based registered investment advisor, is pleased to announce its East Coast expansion with the opening of an office in West Conshohocken, Pennsylvania on January 1, 2020.
Smead Capital Management plans to use the office as an East Coast sales hub to provide better service to clients across the eastern seaboard. By planting a flag in the northeastern U.S., Smead is also reducing the time needed for travel to serve clients in the region.
“We don’t agree with where the investment management industry is going,” said Cole Smead, CFA, Managing Director of Smead Capital Management. “We believe the uniqueness of an investment management process and the willingness of asset managers to educate clients is where the industry will go. Expanding our presence on the east coast with this office entrenches two ideas that we believe vehemently: Active management has a long duration future and value stock picking is being underrepresented in our industry.”
Scott Herdemian will oversee the office. He will be promoted to Senior Vice President. Mr. Herdemian currently oversees East Coast sales and will be supported by Robert Carter as they continue to hire and build the East Coast team. They are currently seeking another hire in the new office for the beginning of 2020.
“At a time when many people doubt stock picking, we remain the optimist. We feel there is large opportunity to find outstanding individuals to help us accomplish the task we have ahead, particularly on the eastern seaboard,” said Mr. Herdemian.
Mr. Herdemian has been with Smead since 2014 and previously served as regional consultant with Lord Abbett & Co.
This will be Smead’s third office. The company opened an office in London in 2017 to serve its growing European client base.
Smead’s decision to open an office in the Philadelphia suburbs is due to its attractive cost of living and housing, tax assessment in the region and accessibility to Smead’s client base via planes, trains and automobiles.
About Smead Capital Management
Smead Capital Management manages large cap portfolios for advisors, family offices and institutions with a value-oriented investment discipline. As of November 30, 2019, the firm managed approximately $2.24 billion in all accounts, including mutual funds. The firm was formed in July 2007 by CIO Bill Smead, who first created the firm’s investment discipline in 1993. For more information visit http://www.smeadcap.com or call 1-877-701-2883.