Pair of money managers reunite

WINNING TEAM

April 22, 1991|By Peter H. Frank

They seem like perfect complements. Paul D. Corbin is a right-handed native of Washington. M. Elliott Randolph Jr. is a left-handed Baltimorean. Each spent more than 10 years at First National Bank of Maryland, and they have spent their careers managing other people's money.

Indeed, the five years they have played on the tennis court apparently represents their biggest chance to compete.

"Paul's a strong singles player," Mr. Randolph said, avoiding the answer to a question about who wins their tennis matches. "Paul is younger."

Now, thanks to Alex. Brown Inc., they are working together again. Over the past month, both men -- well-known within banking and financial circles in town -- have signed up with 1800 Capital Management, an arm of Alex. Brown that serves wealthy individuals and institutions for a fee.

"The train comes into the station only so many times," the 49-year-old Mr. Randolph said. "Here was a situation where we could associate ourselves with a premier firm and be in on the ground floor of a fixed-income management situation."

Mr. Randolph is responsible for managing the taxable and tax-free fixed-income portfolios for the group.

Mr. Randolph had left First National four years ago as chief financial officer and senior vice president to work for a Baltimore-based boutique investment firm, Monument Capital Management.

Mr. Corbin, too, had felt the urge to leave the world of banking.

"Over here, we think about investment all day long and not about banking," said Mr. Corbin, 38, who also oversees fixed-income portfolios. "And that was something I wanted to get into."

Launched in 1989 by Alex. Brown's Robert S. Killebrew Jr., 1800 Capital has more than $200 million under management. Mr. Corbin and Mr. Randolph are part of a team of seven money managers, each brought on for their specific and differing strengths, who oversee their clients' money.

For Mr. Randolph, the move to Alex. Brown was a homecoming of sorts. From 1972 to 1976, he was a stockbroker there before joining First National, where he stayed for the next 11 years.

He grew up in Baltimore and then attended Rollins College in Winter Park, Fla., where he graduated with a bachelor's degree in English in 1965. He earned an MBA in finance from Loyola College in 1984.

Mr. Randolph lives in Ruxton with his wife and two children.

Mr. Corbin, who grew up in Washington, graduated from the University of Virginia in 1974 with a bachelor's degree in economics and later, while working at First National, earned his MBA in investments and finance in 1981 by taking evening classes at the George Washington University.

In 1984, he moved to Legg Mason Inc., where he helped set up the company's taxable bond desk. About a year later, he returned to First National, where he eventually served as senior vice president in charge of the fixed-income portfolio at First Maryland Asset Management.

Mr. Corbin and his wife live with their three children in Roland Park.

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