Flaherty & Crumrine Announces Donald Crumrine’s Retirement as Portfolio Manager
14 November 2015 - 9:22AM
Business Wire
Flaherty & Crumrine Incorporated today announces that Donald
F. Crumrine, due to his upcoming retirement, will no longer serve
as a portfolio manager for clients of the firm, effective December
31, 2015. R. Eric Chadwick and Bradford S. Stone continue as
portfolio managers for all Flaherty & Crumrine strategies.
“On behalf of everyone at Flaherty & Crumrine, I would like
to thank Don for his service and leadership since the inception of
our firm in 1983,” said Eric Chadwick, President of Flaherty &
Crumrine. “Retirement is a natural part of a firm’s evolution, and
we have prepared carefully for the transitions that have taken
place in 2015. We are confident that the firm will continue to
deliver the same high levels of performance and service that we’ve
provided throughout our history. And, we remain committed to our
team approach in managing portfolios of preferred securities.”
Brad Stone, Executive Vice President of Flaherty & Crumrine,
added, “Don co-founded our firm with Bob Flaherty with the goal of
creating a leading U.S. manager of preferred securities. All of us
at Flaherty & Crumrine are grateful for his contribution and
wish him well in retirement.”
Don Crumrine has been a member of the portfolio management team
of Flaherty & Crumrine since he co-founded the firm in 1983.
Until September 2014, he also served as the firm’s Chairman.
“I have enjoyed a long and successful career at Flaherty &
Crumrine, and it is a real pleasure to see the firm in such a great
position to continue on for years to come. I am proud of our
accomplishments over our 32-year history, and have great confidence
the high standards our clients have come to expect will be
maintained. Retirement is made easier knowing that this team will
carry on providing outstanding service to our clients.”
Since its inception in 1983, Flaherty & Crumrine has grown
to manage over $4.5 billion of assets under management with 16
employees, including 9 investment professionals. In addition to
managing portfolios for institutional clients, the firm serves as
investment adviser to five closed-end registered investment
companies in the U.S. and as subadviser to one closed-end
investment trust in Canada and a U.S. open-end mutual fund:
- Flaherty & Crumrine Preferred
Income Fund Incorporated (NYSE: PFD)
- Flaherty & Crumrine Preferred
Income Opportunity Fund Incorporated (NYSE: PFO)
- Flaherty & Crumrine Preferred
Securities Income Fund Incorporated (NYSE: FFC)
- Flaherty & Crumrine Total Return
Fund Incorporated (NYSE: FLC)
- Flaherty & Crumrine Dynamic
Preferred and Income Fund (NYSE: DFP)
- Flaherty & Crumrine Investment
Grade Fixed Income Fund (TSX: FFI.UN)
- Destra Flaherty & Crumrine
Preferred and Income Fund (DPIAX, DPIIX, DPICX)
View source
version on businesswire.com: http://www.businesswire.com/news/home/20151113005911/en/
Flaherty & Crumrine IncorporatedR. Eric Chadwick,
626-795-7300Presidentchadwick@pfdincome.comorChad Conwell,
626-795-7300Executive Vice Presidentconwell@pfdincome.com
Flaherty and Crumrine To... (NYSE:FLC)
Historical Stock Chart
From Sep 2024 to Oct 2024
Flaherty and Crumrine To... (NYSE:FLC)
Historical Stock Chart
From Oct 2023 to Oct 2024