The equity department of the defunct Cashman Farrell & Associates has opened an equity firm with $330 million in active domestic equities. The new firm, Cashman and Associates, will use the same large-cap, bottom-up value style Cashman Farrell used. Daniel V. Cashman is CIO of the new venture; Donald J. McBride is the new firm's client contact; both were partners at the old firm.
The partners of Cashman, Farrell voted to dissolve the firm effective March 31 after a series of internal dissensions among the equity and fixed-income teams. The fixed-income team joined Pennsylvania Merchant Group to start its own money manager, PMG Advisors.