Thompson Plumb Separating Into Two Companies

October 17, 2003 ( - Money management firm Thompson Plumb and Associates will be splitting its $2.6-billion book of business in two.

The firm will be split between the company’s two owners – John Thompson and Thomas Plumb.   The move is being touted as part of a succession planning and growth management strategy, according to a news release.

While still subject to shareholder approval, the move would place the $808-million Thompson Plumb Growth Fund under the control of Thompson.    He will continue to co-manage the fund with his son, John Thompson while the pair will continue as senior portfolio managers with Roland Reinholtz.   In total, Thompson will oversee $1.6 billion in assets under management, an analyst team and portfolios for separate individual and institutional investors.

Plumb and his team will manage the Thompson Plumb Balanced, Blue Chip and Select funds. At a future date, Plumb will merge the Balanced Fund into the Dreyfus mutual fund family. Plumb also will oversee the Thompson Plumb Trust Co. and invest $1 billion of the company’s assets under management.