Stephen R. Burke Named President & CEO of A. R. Schmeidler & Co., Inc.
YONKERS, N.Y., Nov. 15, 2010 /PRNewswire/ -- As part of the A. R. Schmeidler & Co, Inc., long-term planning process, Arnold R. Schmeidler, President and Chief Executive Officer, in conjunction with the A. R. Schmeidler Board of Directors, is particularly pleased to announce the appointment of Stephen R. Burke as President and Chief Executive Officer of the New York City-based investment management firm. Mr. Burke, who has served as the firm's business development officer for the past 3 years, is assuming the management responsibilities formerly held by Mr. Schmeidler, who founded the firm in 1971. Mr. Schmeidler becomes Chairman of the Company focusing on investment strategy, research and portfolio management. The firm has been a wholly owned subsidiary of Hudson Valley Bank since late 2004.
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An industry veteran, Mr. Burke has held several executive positions since joining the asset management industry in 1981. Prior to joining A. R. Schmeidler & Co. in 2007, he served as Chief Executive Officer of Americas Institutional Business for Deutsche Asset Management. He also served as a Vice Chairman of Standish Mellon Asset Management and previously spent 20 years in various leadership roles at The Dreyfus Corporation.
"In addition to the three investment professionals hired in 2008, Stephen's appointment continues the process of strengthening the organization to meet clients' changing needs and to reinforce the firm's commitment to their investment management," Mr. Schmeidler said.
With $1.4 billion in assets under management, A. R. Schmeidler & Co. has served institutions, high net worth individuals and family offices for over 39 years. The firm has a broad-based clientele serving clients both domestic and international. The A. R. Schmeidler investment approach combines the elements of a global macro-economic view with a fundamental security-selection process that has been critical to its success over the years.
"We are confident that Stephen will provide the leadership and strategic direction for A. R. Schmeidler to continue to effectively meet the long-term investment goals of our clients and to grow assets under management," said James J. Landy, President & CEO of Hudson Valley Bank. "As Chairman, Arnold will continue to work with our seasoned team of investment professionals in delivering the distinct investment portfolios that have been the hallmarks of the firm's success."
Hudson Valley Bank (HVB) is a Westchester-based bank with $2.8 billion in assets, serving the metropolitan area with 37 branches located in Westchester, Rockland, the Bronx, Manhattan, Queens and Brooklyn, NY, and Fairfield County and New Haven County, CT. HVB specializes in providing a full range of financial services to businesses, professional services firms, not-for-profit organizations and individuals; and offers services specifically designed for attorneys, property managers, real estate developers and investors, municipalities and religious organizations. HVB also provides investment management services through a subsidiary, A. R. Schmeidler & Co., Inc. Hudson Valley Holding Corp. is the parent of Hudson Valley Bank and its common stock is traded on the NASDAQ Global Select Market under the ticker symbol "HUVL" and is included in the Russell 3000® Index. Additional information on Hudson Valley Bank can be obtained on their web-site at www.hudsonvalleybank.com.
SOURCE A. R. Schmeidler & Co., Inc.
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