Third Avenue Management CEO David Barse Leaves

0
Third Avenue Management CEO David Barse Leaves
Third Avenue Management

NEW YORK–(BUSINESS WIRE)–Third Avenue Management LLC (“Third Avenue”), an investment advisor to private and institutional clients, today announced a change in management, pursuant to which the firm’s Management Committee will lead the firm going forward. Third Avenue’s Management Committee includes David L. Resnick, President and Chief Investment Officer, Vincent Dugan, Chief Financial Officer and Chief Operating Officer, W. James Hall, General Counsel and Secretary, and Matthew Fine and Jason Wolf, Portfolio Managers. As part of the change, Third Avenue and David M. Barse, Chief Executive Officer, have mutually agreed to separate, effective December 14, 2015.

Play Quizzes 4

“I thank David for his years of devotion to the firm and the contributions he has made to the organization.”

Third Avenue Founder, Martin Whitman, commented, “Third Avenue has been committed to finding the best ways to deliver value for shareholders for nearly thirty years. Today’s announcement is a step that enables Third Avenue to return to its roots, with broad-based leadership by the senior investment team. I trust that the Management Committee’s dedication to our unique and differentiated products and the talented resources of Third Avenue’s entire team will continue to generate substantial growth and value for all of our shareholders in the future.” Mr. Whitman continued, “I thank David for his years of devotion to the firm and the contributions he has made to the organization.”

Fund Manager Profile: Zhang Hui Of China’s Southern Asset Management

investHistorically, the Chinese market has been relatively isolated from international investors, but much is changing there now, making China virtually impossible for the diversified investor to ignore. Earlier this year, CNBC pointed to signs that Chinese regulators may start easing up on their scrutiny of companies after months of clamping down on tech firms. That Read More

On average, the members of the Management Committee have provided a decade of service to the firm. President and Chief Investment Officer, David Resnick said, “The Management Committee members have worked well together in the past and will continue to work collaboratively to lead the firm. Our portfolio managers remain focused on managing our products in the best interests of our shareholders.”

“As Third Avenue’s strategic partner for nearly thirteen years, we are confident in the firm’s future path, especially given the depth and quality of Third Avenue’s management team and their commitment to creating long-term value for investors,” said Sean M. Healey, Chairman and Chief Executive Officer of Affiliated Managers Group, Inc. (“AMG”). “We have the utmost confidence in the Management Committee and the entire firm, and look forward to continuing to work with David, Vinnie, Jim, Matt, and Jason as they advance the business, and to Third Avenue’s future success.”

About Third Avenue Management

Third Avenue Management LLC is a New York-based investment advisory firm that offers its services to private and institutional clients. Third Avenue adheres to a disciplined bottom-up value investment strategy in order to identify investment opportunities in undervalued securities of companies with high quality assets, understandable businesses and strong management teams that have the potential to create value over the long term. Third Avenue Management offers value-oriented strategies through mutual funds, UCITS fund, separate accounts and alternative products.

Contacts

Sard Verbinnen & Co.
Dan Gagnier, 212-687-8080

Updated on

Sheeraz is our COO (Chief - Operations), his primary duty is curating and editing of ValueWalk. He is main reason behind the rapid growth of the business. Sheeraz previously ran a taxation firm. He is an expert in technology, he has over 5.5 years of design, development and roll-out experience for SEO and SEM. - Email: sraza(at)www.valuewalk.com
Previous article “The Big Short” Writer Michael Lewis On Why The Bank Bailout Was A Mistake
Next article Activist Hedge Fund LionEye Capital Implodes

No posts to display