SEATTLE, March 12, 2012 /PRNewswire/ -- The board of directors of Seattle-Northwest Securities Corporation (SNW) today announced that SNW Board Member Karl Leaverton will replace Maud Daudon as the new president and CEO of SNW and SNW Asset Management. Daudon is leaving the firm after 10 years of service, effective April 16, 2012.
"Maud shared her desire to transition out of her position nearly a year ago," said Dave Taylor, SNW Board chairman. "This gave us time to complete a thoughtful succession-planning process, which resulted in the selection of Karl Leaverton as Maud's successor. Karl is a proven industry leader with the right mixture of experience, enthusiasm, personality and leadership style for the job."
SNW, the largest independent financial services firm based in the Northwest, serves the complex financial needs of leading private and public entities throughout the West Coast including the University of Washington; Port of Seattle; and cities, utilities and school districts across the region. SNW also provides fixed income investment and asset management services.
"I am thrilled that Karl agreed to join SNW in this role," said Daudon. "We found the ideal candidate to take the reins at Seattle-Northwest Securities and drive our fixed income business to the next level."
Leaverton is currently a management consultant with Blakely Management Company in Bellevue, Washington which provides business consulting for investment managers, investment services firms and other businesses. He has more than 30 years of financial services experience, including serving as president of the private client group for RBC Wealth Management from 2006 to 2009 and as regional director for the 13 years prior. Earlier in his career, Leaverton worked as a financial consultant and branch manager for Prudential Securities and economist for URS Engineers.
"SNW is poised for growth," said Leaverton. "That's the fun part of this business – leading a firm with a great reputation, a proven track record, and taking it to new heights. We have a plan and the right team to make that happen."
"Karl, as a board member, was instrumental in developing our growth strategy," added Taylor. "His skills will now make it a reality."
Daudon joined SNW in 2002, and served as its president and CEO since 2006. Under her leadership SNW maintained its position as the number one underwriter and financial advisor for municipal entities in the Northwest, grew its asset management business into profitability, expanded geographically and opened new offices in California and New York City. Daudon also strategically changed the risk profile and business mix of the firm which positioned the firm well for the 2008 recession and beyond.
About SNW (Seattle-Northwest Securities Corporation):
SNW is a West Coast-based broker-dealer with national expertise. The firm is committed to meeting the capital funding needs of municipalities and the investment needs of municipalities, institutions, corporations and individuals. Focused on the fixed income market for over 40 years, SNW specializes in investment banking and financial advisory services, tax-exempt and taxable underwriting, and trading and sales of fixed income securities. The firm also provides fixed income asset management services through a wholly-owned subsidiary, SNW Asset Management (SNWAM). SNW is an employee-owned firm, with offices in Seattle, Salt Lake City, Portland, New York City, Boise and San Francisco. More information about SNW is available at www.snwsc.com.
Cindy Wetterlund, SNW
Paul Bergman, Cocker Fennessy
SOURCE Seattle-Northwest Securities Corporation