Timothy Horan to Join Chilton Private Clients as Chief Investment Officer - Fixed Income

NEW YORK and PALM BEACH, Fla., Dec. 6, 2011 /PRNewswire/ -- Chilton Trust Management, LLC ("Chilton Trust"), in affiliation with Chilton Private Clients, LLC ("CPC"), announced today the hiring of Timothy Horan from Morgan Stanley Smith Barney ("MSSB") as Executive Vice President and Chief Investment Officer – Fixed Income.  Mr. Horan, currently Managing Director and Chief Investment Officer at MSSB Fixed Income Investment Advisors, will join CPC on January 3, 2012.  In his new role, Mr. Horan will work closely with Richard L. Chilton, Jr., Chairman of Chilton Trust and CPC and who will continue to serve as Chief Investment Officer – Equities. Joining Mr. Horan will be four experienced fixed income investment professionals, Debra Crovicz, William McNaught and Nicholas Rafferty – also from MSSB – and Jessica Lamendola, from Moody's Investor Services.  They will provide Chilton Trust's clients with comprehensive global and domestic fixed income capabilities.

In addition, CPC has signed an agreement with MSSB through which Mr. Horan and his team will continue to provide fixed income management services to their existing MSSB clients as a sub-advisor on the MSSB Global Investment Services platform. 

Mr. Horan is a highly regarded investment manager with over 25 years of experience in the financial services field.  For over ten years at Morgan Stanley, in both New York and London, Mr. Horan has led the fixed income portfolio management business for ultra-high net worth private clients, charities, endowments and family offices.  Before joining Morgan Stanley, he was Director of International Fixed Income at Lord Abbett & Co. He also held senior management positions as a foreign securities and foreign exchange portfolio manager at Credit Suisse and Aubrey G. Lanston & Company, Inc. Earlier in his career, Mr. Horan was a member of the risk management team at Bankers Trust. During the Volcker years, Mr. Horan was an economist and foreign exchange trader at the Federal Reserve Bank of New York.

Based in Palm Beach, Florida, and led by Garrison D. Lickle, Chilton Trust offers full-service, bespoke private wealth management services, including asset allocation advice, management of separate portfolio accounts, tax advice, trust and estate planning and family office services. Some of these services are provided through CPC, Chilton Trust's affiliate in New York and Connecticut.   Mr. Horan's fixed income team will be based in CPC's New York office.

Mr. Chilton, said, "We are thrilled to have a portfolio manager of Tim's caliber and integrity leading fixed income investment strategies. He and his team will enable us to expand the product offerings available to Chilton Trust clients. I am pleased that we will be able to achieve this through a unique strategic partnership with Morgan Stanley, with which we have a 20-year history of collaboration. Chilton Trust and CPC have been in operation for over a year, and now, in addition to drawing on our established expertise in equity investments, tax advice and family office services, Chilton Trust's clients will be able to access a wide range of fixed income instruments, from high-grade corporate and municipal bonds to global inflation protected securities. With this additional expertise, we will be in a better position than ever before to grow our clients' wealth and preserve it for generations to come."

Mr. Horan said, "This is a tremendous opportunity for us to serve clients in a firm that is fully committed to research and resources.  It is a privilege to become part of the Chilton tradition of excellence and integrity.  We look forward to working together with the Chilton team to build a premier private wealth management business."

Mr. Chilton, concluded, "I know Tim personally, and I am impressed by his character and judgment as well as his keen understanding of fixed income markets. Prominent individuals and families have relied on him for many years to invest on their behalf in a responsible manner that preserves wealth and generates attractive returns. I am delighted that our clients will now have the opportunity to benefit from the talent and expertise of his team."

CPC's Fixed Income Team

The other new members of CPC's fixed income investment team are:

• Debra Crovicz, a fixed income investment manager for over 25 years and a long-time colleague of Mr. Horan's at MSSB, will join CPC as Senior Vice President. She was previously Executive Director and Senior Portfolio Manager at MSSB, overseeing $3 billion in municipal assets. Prior to Morgan Stanley, Ms. Crovicz spent ten years at Brown Brothers Harriman & Co. as a Portfolio Manager focused on managing portfolios for ultra-high net worth and institutional accounts. Earlier in her career, she worked in fixed income at Republic National Bank of New York, Citibank Global Asset Management and U. S. Trust Co. of New York.
• William McNaught, an experienced fixed income investment manager who worked closely with Mr. Horan and Ms. Crovicz at MSSB, will join CPC as a Senior Vice President. Previously, he served as an Executive Director and Senior Portfolio Manager at MSSB, overseeing $3 billion in U.S. Taxable and International Fixed Income. Prior to his assignment in New York, Mr. McNaught worked with Mr. Horan in Private Wealth Management at Morgan Stanley International London. He has served ultra-high net worth private clients, endowments and family offices across the U.S., Canada, Europe, Latin America, the Middle East and Asia.
• Nicholas Rafferty, a fixed income trader from MSSB, will join CPC as a Vice President and Junior Portfolio Manager. He has extensive experience trading Tax Advantaged, Taxable and International assets in customized, separately managed discretionary portfolios. Prior to joining Morgan Stanley, Mr. Rafferty was an Analyst at Butler Capital Corporation and a trader with Capital Counsel.
• Jessica Lamendola, a credit analyst from Moody's Investors Service, will join CPC as Senior Research Associate.  Ms. Lamendola was the local government lead for Moody's for various Northeast cities, where she was responsible for the maintenance and accuracy of a portfolio of local government entity ratings, and for performing credit reviews of municipalities that issue tax and/or revenue-backed debt.  Prior to Moody's, Ms. Lamendola was Assistant Director of Constituent Affairs at the New York City Taxi and Limousine Commission.

About Chilton Investment Company
Chilton Investment Company, LLC is a global alternative investment management firm. Chilton is headquartered in Stamford, Connecticut with offices in New York, London, Hong Kong, Beijing and Chengdu. The firm and its affiliates are registered with the securities authorities in the U.S., U.K. and Hong Kong. Chairman, Chief Executive Officer and Chief Investment Officer Richard L. Chilton, Jr. formed the firm in 1992 and manages multiple investment strategies for pension funds, large endowments, family offices and high net worth clients. Since that time Chilton has added additional strategies across various sectors globally and across various products. Please visit ChiltonFunds.com for more information about Chilton Investment Company.

Media Contacts
Jeffrey Taufield or James David
Kekst and Company
212-521-4800

SOURCE Chilton Trust Management, LLC