Flaherty & Crumrine Announces Robert Ettinger’s Retirement as Portfolio Manager
June 04 2015 - 9:15AM
Business Wire
Flaherty & Crumrine Incorporated today announces that Robert
M. Ettinger, due to his impending retirement, will no longer serve
as a portfolio manager for clients of the firm, effective June 30,
2015.
“On behalf of everyone at Flaherty & Crumrine, I would like
to thank Bob for his service and leadership throughout his 30 years
here” said R. Eric Chadwick, President of Flaherty & Crumrine.
“We are confident that the firm is evolving in a way that will
enhance and extend the 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.”
Donald Crumrine, co-founder of Flaherty & Crumrine, added,
“Bob helped build this firm into a leading U.S. manager of
preferred securities, and more importantly made valuable
contributions to our outstanding long-term investment
performance.”
Robert Ettinger has been a member of the portfolio management
team of Flaherty & Crumrine since he joined the firm in 1985.
Until September 2014, he also served as the firm’s president.
“It has been a pleasure working alongside the talented
individuals at Flaherty & Crumrine,” said Robert Ettinger. “I
have great confidence they will maintain the high standards we’ve
achieved over our 32 years of history. I respect this group of
professionals and while it’s a difficult decision to retire, it’s
made easier knowing that this team will carry on providing
outstanding service to our clients.”
R. Eric Chadwick, Bradford S. Stone and Donald Crumrine continue
as portfolio managers for all Flaherty & Crumrine
strategies.
Since its inception in 1983, Flaherty & Crumrine has grown
to manage over $5 billion of assets under management with 17
employees, including 10 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 Preferred Securities and Income
Fund (DPIAX, DPIIX, DPICX)
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version on businesswire.com: http://www.businesswire.com/news/home/20150604005179/en/
Flaherty & Crumrine IncorporatedR. Eric Chadwick,
626-795-7300Presidentchadwick@pfdincome.comorChad Conwell,
626-795-7300Executive Vice Presidentconwell@pfdincome.com
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