Royce Picks Up Three From Hedge Fund

According to a press release, Carl Brown, Brendan Hartman and Jim Stoeffel joined the firm on May 1, 2009 – all previously co-founders and managers of a hedge fund.

Carl Brown, Portfolio Manager of Royce, has 15 years of investment industry experience. Prior to joining Royce, he co-founded and managed a hedge fund for Rebus Partners. Prior to that, he was employed by Cramer Rosenthal McGlynn, LLC (1999-2008) and served as Co-Manager for the Mid Cap, SMid Cap, Small Cap and CRM Partners LP funds. He began his career with KPMG (1994-1999) where he was a Tax Consultant, according to the announcement.

Brendan Hartman, Portfolio Manager of Royce, has 14 years of investment industry experience. Prior to joining Royce, he also co-founded and managed a hedge fund for Rebus Partners. Prior to that, he was employed by Cramer Rosenthal McGlynn, LLC (2001-2008) and served as Co-Manager for the Mid Cap, SMid Cap, 130/30 Fund and CRM Partners LP funds. Prior to that, he was a Senior Analyst, Equity Research with Donaldson, Lufkin & Jenrette (1997-2000). He began his career with Salomon Brothers (1996-1997) as an Equity Research Analyst.

Jim Stoeffel, Portfolio Manager of Royce, has 23 years of investment industry experience. Prior to joining Royce, he also co-founded and managed a hedge fund for Rebus Partners. Prior to that, he was employed by Cramer Rosenthal McGlynn, LLC (2001-2008) and served as Co-Manager for the Small Cap, All Cap and CRM Partners LP funds. Prior to that, he was Director of Research at Palisade Capital (1999-2001) and Vice President of Research at Salomon, Smith Barney (1993-1999). He began his career as a Financial Services Industry auditor (1984-1992).

The addition of these three increases Royce’s investment staff to 24, according to the announcement.