A mutual fund firm on the West Coast has expanded to the east.

Cole W. Smead Smead Capital Management Managing Director

Yesterday the Smead Capital Management team was scheduled to officially open their third ever office, this time in outside Philadelphia in West Conshohocken, Pennsylvania. (The Seattle-based fund firm also has a location in London.) Cole Smead, managing director of Smead, revealed the new office launch last month.

Scott Herdemian, who has spent nearly six years with Smead, will lead the new Philly area office, Smead confirms. Herdemian, formerly vice president, is being promoted to senior vice president and oversees East Coast sales, with help from associate Robert Carter. Watch for them to add a new hire to the new office soon.

Cole Smead puts adding the new office in the context of his belief that "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," Cole Smead states.

Smead Capital Management, first launched in 2007, had about $2.24 billion in AUM as of November 30, 2019. 

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