Brown Investment adds two partners

Klinefelter, Schweizer are `great professionals,' chief executive says

May 07, 2002|By William Patalon III | William Patalon III,SUN STAFF

Brown Investment Advisory & Trust Co., the independent local investment firm founded by Alex. Brown & Sons, is adding two big-name partners to its ranks.

Thomas "Tim" Schweizer Jr., a former Deutsche Bank Alex. Brown executive, has joined Brown Investment as a partner and senior adviser. Stanard T. Klinefelter, a lawyer who is chairman of the Private Client Services Practice Group of Piper Rudnick LLP, will join Brown as a partner on July 1.

"These are great, great professionals," Michael D. Hankin, the investment firm's president and chief executive officer, said yesterday.

The two new partners will have very different roles, according to Hankin.

Schweizer's main charge will be to use his vast network of contacts built up during his 33 years in the investment arena to bring in new clients. Klinefelter, who will bring clients with him when he joins Brown Investment, will bolster the firm's full-service capabilities because of his nationally recognized expertise in such areas as estate planning, personal financial planning and charitable giving for wealthy investors, the investment firm said.

"Stan has a keen interest in what I would call the integration of strategic planning issues [with investments]," Hankin said. "Timmy is a bright, dedicated professional who has worked with clients for 33 years."

When he retired in early March, Schweizer, 58, headed what was then the 1,000-employee private client division of Deutsche Banc Alex. Brown, which focused on wealthy investors. For him, the chance to be part of a fast-growing, entrepreneurial investment firm was too alluring to pass up, he said.

"I am really excited for the opportunity," Schweizer said. "This is a small, independent, customer-focused firm."

For Klinefelter, 54, joining Brown Investment was the chance to be part of an investment firm where the strategic financial plans he crafts for his wealthy clients are actually put into place.

Industry directions

With wealthy clients, investment decisions can't be made in a vacuum: Such issues as generational transfers of wealth or business interests often influence investment strategy. To best serve clients, firms are increasingly trying to have both the strategic planning capabilities and investment services under one roof.

"That's where the industry is headed," Klinefelter said.

His parting with Piper Rudnick, where the estates- and trust-services practices he helped build have clients in Chicago and New York as well as locally, is a very amicable one, both Klinefelter and the law firm said.

"Stan has been a terrific colleague over the years," said Francis P. Burch Jr., co-chairman of Piper Rudnick. "Although we are sorry to lose him as a full-time colleague, we have long ties to both the people and the institution at Brown Investment Advisory, so this feels more like a spreading out of our contacts than a loss."

Active in community

Both Klinefelter and Schweizer have been extremely active in the community.

Klinefelter is president of the Board of Trustees of the Maryland Historical Society and recently was co-chairman of its $30 million capital campaign. He is a past board member of the Pride of Baltimore, the Maryland Division of the American Cancer Society, Planned Parenthood, the Arthritis Foundation and the Gilman School.

He graduated from the University of Pennsylvania in 1969, and then the University of Maryland School of Law in 1972. Klinefelter also earned a specialty degree in taxation from the Georgetown University Law Center in 1975.

Schweizer is a member of the boards of trustees of the Baltimore Museum of Art, the Baltimore Zoo and the University of Maryland Foundation. He is a past member of the boards of the Gilman School, Union Memorial Hospital and Port Discovery. He graduated from Vanderbilt University in 1966 and subsequently served in the Marine Corps in Vietnam, where he achieved the rank of captain and was awarded a Bronze Star and two Purple Hearts.

Brown Investment will continue to watch for additional talent as Hankin pursues a stated goal of doubling the firm's current $4.5 billion in assets under management over the next several years.

Brown Investment Advisory was founded by Alex. Brown & Sons in 1993. In 1998, it was purchased from BT Alex. Brown primarily by its partners and directors and now operates as a private company.

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