WASHINGTON - Investment managers already have voted with their money in the presidential race, and so far the top dollar winners look like Bob Dole and the Republican Party.
According to culled data provided by the Center for Responsive Politics, Washington, Mr. Dole has reaped at least $331,732 from executives at money management firms and investment banks with money management subsidiaries.
President Clinton received at least $147,109.
Federal Election Commission records show several prominent money management executives have been heavy contributors both to the presidential campaigns and respective party committees through regular and soft money contributions. Soft money is unregulated contributions the parties use to fund non-election events such as voter registration.
Significant regular and soft money contributors to Mr. Dole and/or Republican committees include: Robert A. Day, chairman, Trust Co. of the West, Los Angeles, $75,000 in soft money, $20,000 to Republican Party committees and $1,000 to Mr. Dole's committee; Nicholas C. Forstmann, general partner at Forstmann Little & Co., New York, $25,000 in soft money and $10,000 to the National Republican Congressional Committee; Marc I. Stern, chief investment officer, The TCW Group Inc., $15,000 to the Republican National Committee; and Stephen Weiss, CIO of Weiss, Peck & Greer, contributed $15,000 to the Republican National Committee.
Investment professionals who contributed the maximum $1,000 to Mr. Dole's campaign include: Daniel P. Kearney, chief investment officer at Aetna Life & Casualty; David Alger, CIO at Fred Alger Management Inc.; Alan J. Folkman, CIO at Columbia Management Co.; Henry Gailliot, CIO at Federated Investors; Gary E. Wendlandt, CIO at MassMutual Life Insurance; Robert M. Kommerstad, CIO at Provident Investment Counsel; Fayez Sarofim, chairman and president of Fayez Sarofim & Co.; and Henry Herrmann, CIO at Waddell & Reed Asset Management. James H. McCroy, senior vice president at Waddell & Reed, contributed $500.
John S. Cole, CIO, and Richard Hibbs, senior vice president at Boatmen's Trust Co., gave Mr. Dole's campaign $300 each.
Executives contributing the maximum $1,000 to Mr. Clinton's campaign include: Mark Hamilton, vice president at Lazard Freres Asset Management; and Maceo Sloan, CIO of NCM Capital Management Group Inc. Edmond D. Villani, CIO of Scudder, Stevens & Clark, contributed $500.
Several investment professionals contributed the $1,000 maximum to the now-ended campaign of Malcolm S. "Steve" Forbes Jr.: Robert D. Arnott, CIO of First Quadrant Corp.; Mario Gabelli, CIO of GAMCO Investors Inc.; Herbert Gullquist, CIO of Lazard Freres Asset Management; Lee Munder, CIO of Munder Capital Management; and Mr. Day of TCW.
Arthur Ziekel, CIO at Merrill Lynch Asset Management, gave $1,000 each to Mr. Clinton's and Mr. Forbes' campaigns.
And prior to Sen. Phil Gramm leaving the presidential race, Barton Biggs, chief investment officer at Morgan Stanley Asset Management, contributed $1,000 to his campaign.
Several investment bankers from Lazard Freres & Co., New York, made hefty regular and soft money contributions to Mr. Clinton and/or the Democratic committees. They include: Felix Rohatyn, managing director, $125,000 in soft money and $20,000 to the Democratic Senatorial Campaign Committee; and Steven Rattner, managing director, $80,000 in soft money and $23,000 to Democratic Party committees.
Jon S. Corzine, partner at Goldman, Sachs & Co., New York, was another large Democratic contributor, giving $75,000 in soft money and $11,000 to Democratic party committees.
Top contributors to Mr. Dole's campaign came from: Bear Stearns & Co.'s Los Angeles office, $35,500; Goldman, Sachs, $28,000; and Waddell & Reed, Shawnee Mission, Kan., $18,320.
Leading contributors to President Clinton's re-election campaign are executives at: Goldman, Sachs, $18,084; Lazard Freres $17,750; and Bear, Stearns, $12,550.
Republican committees have raised at least $1.1 million in soft money from money managers and investment banks with money management subs, more than double the $491,750 that Democratic committees have collected from the group.
The securities industry - which includes investment managers - was the top contributor to the $58.7 million in soft money raised in 1995, according to the Center for Responsive Politics.
Some of the large Republican soft-money contributors include executives at: PaineWebber, $195,000; Forstmann, Little, $185,000; and Morgan, Stanley & Co., $70,200.
Leading Democratic soft-money contributors include: Lazard Freres & Co., New York, $235,000; Goldman, Sachs, $75,000; and E.M. Warburg, Pincus & Co., $30,000.
Federal rules say individuals can give only $1,000 per candidate per election, $20,000 to a national party committee per year and $5,000 to any other political committee per year. Individuals can't give more than $25,000 overall in regular contributions.
Pensions & Investments searched the latest available data from the FEC and the Center for Responsive Politics, a non-partisan research group, for contributions from prominent investment executives. The top 100 firms with the most tax-exempt assets under management also were screened for contributions. FEC records are complete through February, but very few money managers and firms researched contributed to campaigns in the first two months this year.
In some cases, individuals contributed to several presidential candidates. Also, the data might be incomplete because contributors sometimes leave off where they work, making it more difficult to track their contributions.
Investment-related interest groups gave very little in political action committee contributions to presidential campaigns.
The American Council of Life Insurance PAC contributed $10,000 to Mr. Dole's campaign. Carroll A. Campbell Jr., ACLI president and chief executive officer, is a strong Dole supporter.
As part of its $35,500 contribution to Mr. Dole mentioned earlier, Bear, Stearns' PAC contributed $5,000. The PAC for Fleet Financial Group, (which owns Fleet Investment Advisors, Providence, R.I.) contributed $1,000 to Mr. Dole's campaign. John Hancock Mutual Life Insurance Co. PAC, whose connected organization is John Hancock Financial Services, Boston, contributed $5,000 to Mr. Dole's campaign.
MetLife, New York, PAC contributed $5,000 to Mr. Dole, $1,000 to Mr. Forbes and $480 to Mr. Clinton.