The team at a 13-year-old mutual fund firm is preparing to move more than 1,000 miles.
| Cole W. Smead|
Smead Capital management
President, Portfolio Manager
This morning, Cole Smead
, president of Smead Capital Management
that the Seattle-based asset manager's corporate headquarters will relocate to Phoenix. The switch is scheduled for July 1.
The Phoenix Business Journal reported
on the news.
"We are playing the long game for our company, colleagues, clients and shareholders with this transition to our new location," Cole Smead states. "As we plan for the next chapter of our organization, we believe that we gain tangible and intangible benefits through Greater Phoenix and its surrounding communities."
"Now, our people, investment discipline, communication and business travel are by way of Phoenix," states Bill Smead
, chief investment officer and founder of his eponymous firm.
, president and CEO of the Greater Phoenix Economic Council
, calls Smead Capital's move "indicative of the value investment firms find in the region's ability to help companies grow, deliver top talent, provide impactful connections and infrastructure needed for a global financial services firm to thrive."
"Smead's entry into Greater Phoenix will bring a number of high-wage jobs at a critical time," Camacho states.
Smead Capital had about $1.58 billion in AUM as of May 31. The move to Phoenix comes after the firm opened
a third office earlier this year, outside Philly. The team also has a three-year-old London office.
The new Smead Capital HQ in Phoenix will be located at 2777 E. Camelback Road.
Neil Anderson, Managing Editor
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