January 2012 Letter
For those of us that live in Southern California, the subject of "Wear Sunscreen" seems more relevant than other parts of the country. We hope this letter appropriately reemphasizes our approach to managing client portfolios.
As we begin our eighth year, we want to take a moment to bring you up to date on Covington’s management team and to reaffirm our commitment to remain an independent investment management firm. Many of our clients have been with us since September 2004 and have been very helpful to us in growing our assets under management to approximately $1.6 billion.
Realizing that it was important to implement a succession leadership plan, two years ago we established a management committee to do strategic planning as well as oversee the day-to-day business affairs. At year end, Jeff Glassman assumed the role of Chief Executive Officer. Frank Ulf remains as Chairman.
All of us at Covington wish our clients and friends a healthy and prosperous year.
Wear Sunscreen
Back to Commentary
