New York, June 3, 2002 - Carret and Company, Inc., the New York-based money-management firm, announced today the appointment of W. Denman Zirkle as its chief executive officer.
Founded in 1963, the firm currently has approximately $2 billion in assets under management with offices in New York City; Garden City, N.Y.; Hanover, N.H., and Santa Fe, N.M. Its clients include endowments and retirement funds, family trusts, private investors and Taft-Hartley retirement plans.
Zirkle was formerly executive vice president of FTI Institutional, a division of Franklin Templeton Investments, based in New York and San Mateo, Calif. Prior to joining Franklin Templeton in 1997, he had been with Lynch & Mayer, Inc., an investment advisory firm, Morgan Stanley Asset Management and IBM.
He is a graduate of Virginia Polytechnic Institute and holds an MBA from the Wharton School of the University of Pennsylvania.
Carret and Company was founded by Philip L. Carret, an early advocate of the value style of investing. In 1928, he established one of the first mutual funds, the Pioneer Fund. He was active in the company right up to his death at the age of 101 in 1999.
Carret and Company is owned by Castle Harlan Partners III L.P., a private-equity investment fund organized and managed by Castle Harlan, Inc., the New York merchant bank. Carret was acquired by the Castle Harlan affiliate in 1997.