Bryant Tim Hanley Jr. will retire in September from Barrow, Hanley, Mewhinney & Strauss, the firm he founded in 1979. Mr. Hanley is the third founder to leave in recent years; James Barrow will assume the presidency of the firm. Mr. Hanley would not state his future plans, said Robert Barkley, partner and director of marketing.
By way of succession planning, the company named five new partners: Mr. Barkley, Robert Chambers, Timothy Culler, Jane Gilday and Monroe Helm. They join existing partners Richard Englander, Ray Nixon and Mr. Barrow. Each will join in a revenue-sharing program with parent company United Asset Management.
Barrow, Hanley executives are weighing an offer from UAMs new parent company, Old Mutual, that Mr. Barkley declined to detail. There are two things that are most important to us. One is that we continue to manage the firm independently, as we have during the 11 years we have been affiliated with UAM. The second consideration is that we are able to continue to manage traditional value stocks as we always have, Mr. Barkley said.