Part II:

Curating “time to think” has become more and more a part of our DNA. You will read about our morning meeting, when the entire firm gathers for a half-hour four days a week — a practice in place since our independence in 1998. It is critical to nurturing our partnership culture, and it is a great time to think. “Think Week,” Navigating Our World (NOW) and a focus on artificial intelligence are other examples of our intentionality around creating time and space to think in a constructive and undistracted way.

Our summer intern program, our colleague engagement survey, our hiring and certain changes to leadership are helping to expand our perspective, a crucial ingredient and requirement for good thinking.

“ Our morning meeting mindset underpins thoughtful investing and is a foundational part of our culture. We all come together to learn, to share and to expand our collective knowledge. The morning meeting spurs questions, debates and connectedness. While it is most definitely a significant investment to bring the whole firm together four mornings a week, we believe the learning dividends continue to compound.”

PORTER SCHUTT, Head of Delaware Office and Portfolio Manager

FOCUS
Maximizes thinking   
 

In the same way that we appreciate the power of compounding for our financial investments, we believe in the compounding value of investing in time to think as a tool to produce better outcomes for clients. One example of this is Think Week. Devised and organized by Mick Dillon and Bertie Thomson, this is a special week——one where emails, meetings and online activity are almost entirely off-limits. Members of our research team choose to delve deeply into one or two topics, read books and other materials related to the topics, then share their learnings with the broader team with the aim of raising our collective understanding. Last year, topics included innovation and creativity, network effects, business processes and lean manufacturing, the auto industry, China, the writings of legendary investors, and maintaining peak performance over the long term.

“ One of the most impactful books I read during last year’s Think Week was music producer Rick Rubin’s ‘The Creative Act: A Way of Being.’ Creativity is an overlooked quality in investing. Seeing the world afresh, through the beginner’s mind, is as important for analyzing companies and constructing portfolios as it is for producing music or painting.

Rubin describes creativity as a ‘devotional practice.’ I can’t help thinking that the same sentiment applies to investing. The investment weather can create headwinds as well as tailwinds. Our job is to adhere to our practice and process. In our Global Leaders and Global Focus strategies, we focus on marginal gains: dogged improvements that look like quantum leaps over time. This is the power of compounding —— which applies not only to the companies in which we invest but also to our working practices. We can always get better.”

MICK DILLON, CFA and BERTIE THOMSON, CFA, Portfolio Managers

LEADERSHIP
Drives thinking   

Elevating leaders from within is a hallmark of Brown Advisory.

Last year, we were thrilled to announce three new co-heads of Baltimore Private Client —— all former summer analysts: Victor Abiamiri, Blake Sheehan and James Stierhoff. In Washington, D.C., Dan Glading assumed responsibility as office head.

BLAKE SHEEHAN, VICTOR ABIAMIRI, JAMES STIERHOFF
Co-Heads of Baltimore Private Client; Portfolio Managers.

In their roles as portfolio managers, leading teams that endeavor to deliver the highest level of performance, advice and service to families and foundations, Victor, Blake, James and Dan are each keen investors, careful listeners and thoughtful partners. Now, they can bring to bear those attributes for the benefit of a broader group of the firm’s clients and colleagues.

BRETT GIBSON, COO of U.S. Private Client, Endowments and Foundations Business, interviewed Kate Goodall, Co-Founder and Managing Partner of Halcyon Venture Partners, to kick off “What’s Next: Conversations about the District’s Future.”

INQUIRY
Deepens thinking   

“Lunch and Learns” and speaker events are mainstays at Brown Advisory —— we believe dedicating this time to think makes us more effective professionals and better contributors to our communities.

To commemorate Martin Luther King, Jr. Day, TOM GEDDES, Head of Family Office, moderated a discussion with Martin Luther King III, Professor of Practice, University of Virginia Center for Politics, and President, Drum Major Institute, and Arndrea Waters King, President, Drum Major Institute.

ANDREW BLAIR, Head of U.K. Private Clients and Charities Business Development, moderated a fireside chat with Christina Lamb, OBE, renowned foreign correspondent and author.

CIO for Private Investments JACOB HODES, introduced David Rubenstein to a full house of fans. As the new Principal Owner of the Baltimore Orioles, Mr. Rubenstein shared his plans for the team and for the city.

During our Baltimore Breakfast Series, we bring together thought leaders from various disciplines who are making a difference in Baltimore and across our broader community. Here, we brought together three community partners who are driving the inspiring revitalization and redevelopment taking place in East Baltimore: Regina Hammond, Founder and Executive Director, Rebuild Johnston Square Neighborhood Organization, Bishop Donté Hickman, Pastor, Southern Baptist Church, and Amber Wendland, Associate Principal, Ayers Saint Gross.

Gratitude Celebrates Thinking

"Since September 1997, Dave has been my right arm and my left arm. He has done whatever our colleagues and I have asked him to do, from building the initial infrastructure of the firm when we went private in 1998 to figuring out how to finance and structure every single strategic initiative that we have launched, every combination that we have undertaken and every office we have opened." - Mike Hankin

As Dave Churchill moves from Chief Financial Officer and Chief Operating Officer to a new phase of his career with Brown Advisory, we honor his exceptional contributions.

Not only has Dave been an essential force behind every aspect of Brown Advisory, but he has also devoted himself to lifting up our community —— through leadership, charitable giving and hands-on, direct service to people in need. He has traveled to disaster zones after extreme weather events to rescue and provide respite to local residents. He has been an integral member of First Fruits Farm, which has grown and harvested millions of pounds of fresh produce and distributed it to children and adults struggling with food insecurity. He was also a long-time board member at the National Aquarium.

Our firm and our community are so much better because of Dave.
 

PURPOSE
Powers thinking   

Our purpose, to raise the future, extends to the communities where we live and work —— providing nonprofit leadership, volunteer service, charitable giving, climate stewardship and support for local, mission-driven businesses. 

You will often hear colleagues share that our community focus attracted them to Brown Advisory. Indeed, demonstrated leadership in the community is one of the criteria for promotion to Principal and Partner. Across our offices, you will find colleagues contributing financially, intellectually and through hands-on partnership to local organizations of their choice —— all of which are encouraged and supported by the firm.