Andres Capital Management today announced itself to the world as a new firm that will specialize in U.S. fixed-income portfolios. The Berwyn, Pa.-based company plans to leverage the fixed-income markets experience of its leadership team of Bob Andres, Ted Palatucci, and Fred Offenberg, who formerly were advisors at Merrill Lynch.
Andres Capital, an independent registered investment advisor, will serve independent financial advisors, family offices and high-net-worth individuals.
The firm will provide a conservative but active investment model, which it says is an alternative approach to the passive, consensus-driven strategies utilized by many traditional investment management organizations.
“We believe the next five years will prove difficult for investors, particularly with so few professional money managers having experience managing assets in an environment characterized by broad uncertainty, increasing geo-political risks and the potential for rising interest rates,” says Andres, who will be the new firm’s chief investment officer.
Andres was national sales manager for municipal securities at Kidder Peabody and Merrill Lynch. He also was director of taxable credit and underwriting and president of Merrill Lynch Mortgage Capital Corporation. He co-founded Martindale Andres & Company, a buy-side investment management organization, where he functioned as the chief investment officer of fixed income and oversaw $1.2 billion in client assets. Subsequently, he served as the chief investment strategist for Envestnet, a publicly held company serving 36,000 advisors.
Palatucci, a partner and portfolio manager at Andres, was managing director of Merrill Lynch’s municipal bond division with responsibility for trading and underwriting of municipal securities. He was also a member of Merrill’s risk management committee.
Offenberg, a partner and portfolio manager at Andres, was a municipal bond trader at Merrill Lynch and then director of Merrill’s corporate bond trading division and senior trader. Later he became head trader at Chase bank, then successfully built and managed a start-up corporate trading and underwriting group for Chemical bank.