Sumanta Biswas, CFA
Vice President, Assistant Portfolio Manager – Polaris Capital Management, LLC
Investment Experience: 15 Years
Sumanta Biswas is an assistant portfolio manager for Polaris Capital Management, LLC, the sub-advisor of Voyageur’s International Equity strategy. Sumanta is responsible for quantitative and fundamental analysis of potential investment opportunities as well as day-to-day management of Polaris’ Global Valuation Model. He began his career in the investment industry in 1996. Sumanta received a BE from North Bengal University and an MS in Finance from Boston College. He also earned an MBA from Calcutta University in India. Sumanta is a CFA charterholder.
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Barbara S. Browning, CFA
Vice President, Senior Portfolio Manager
Investment Experience: 19 Years
Barbara Browning is responsible for Large Cap Value, Concentrated Large Cap Value, and Diversified Large Cap Core Equity research and portfolio management. Barbara joined RBC GAM (US) in 2007 from Freedom Capital Management, where she served as a portfolio manager and research analyst on the firm’s value team. Before joining Freedom Capital, she was a portfolio manager at National City Bank in Columbus, Ohio. Barbara has also held portfolio manager and analyst positions with Banc One Investment Advisors and the State Teachers Retirement System of Ohio. She began her career in the investment industry in 1991. Barbara earned a BA from Ohio State University. She is a CFA charterholder, a member of the CFA Institute and a member of the Consumer Analyst Group of New York.
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Richard Drage, CPA, CFA
Senior Equity Analyst
Investment Experience: 16 Years
Rich Drage provides fundamental research for our Small and SMID Cap Growth strategies. Rich joined RBC GAM (US) in 2009 from Susquehanna International Group, where he was a senior research analyst. Prior to that, he was a senior equity analyst at Neuberger Berman. Rich’s previous experience also includes various research and portfolio management responsibilities at Highbar Capital Management, Whitebox Advisors, Fasciano Company, and First Analysis Corporation. He began his career in the investment industry in 1994. Rich earned a BA in Economics from Northwestern University and an MS in Accountancy from DePaul University. He is both a CFA charterholder and a Certified Public Accountant.
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Bernard R. Horn, Jr
President, Portfolio Manager – Polaris Capital Management, LLC
Investment Experience: 31 Years
Bernard Horn Jr. is president and portfolio manager of Polaris Capital Management, LLC, a Boston-based global and international value equity management firm that serves as the sub-advisor for Voyageur’s International Equity strategy. Prior to founding Polaris Capital in 1995, Bernard served as an investment officer for MDT Advisers, Inc. He also worked as a portfolio manager for Freedom Capital Management Corporation. From 1980 to 1990, Bernard was the principal and founder of Horn & Company, an investment counseling firm that specialized in global portfolio management for individuals, trusts and tax-qualified accounts. Bernard began his career in the investment industry in 1980. He received a BS from Northeastern University and a MS in Management from the Massachusetts Institute of Technology. In January 2007, Bernard was named Fund Manager of the year by MarketWatch. He was profiled in the January 2004 issue of SmartMoney Magazine and has been highlighted in Business Week, The New York Times, The Wall Street Journal and other national publications. Bernard has appeared on CNBC, CNNfn and Bloomberg TV to discuss global market trends.
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Richard V. Howe, CFA
Analyst - Polaris Capital Management, LLC
Investment Experience: 38 Years
Rich Howe is responsible for equity research, client service and assisting with the international equity portfolio management process. Rich joined Polaris Capital as an account manager in June 2005. Prior to joining Polaris, Rich worked for Freedom Capital and Tucker Anthony where he helped build each firm’s institutional business. Rich began his career in the investment industry in 1973. He received a BA in Economics from the University of Virginia and an MBA from the Wharton School at the University of Pennsylvania. Rich is a CFA charterholder.
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Lance F. James
Managing Director, Senior Portfolio Manager
Investment Experience: 26 Years
Lance James heads the team responsible for the Microcap Core, Small Cap Core, and Mid Cap Value strategies. Lance is the lead portfolio manager for the Small Cap Core and Microcap Core strategies, and provides portfolio management support for the Mid Cap Value strategy. He also conducts research for the strategies. Before joining RBC GAM (US) in 2006, Lance was a portfolio manager and research analyst for Babson Capital Management and OFI Institutional Asset Management, affiliates of Massachusetts Mutual Life Insurance Company. During his tenure with these firms, he served as head of their small/mid cap value team. Lance also worked at Rockwell International Corporation, EBF Associates of Boston, and Hewitt Associates prior to joining Babson Capital in 1986. He began his career in the investment industry in 1980. Lance earned an AB in Economics from Princeton University and an MBA in Finance from the Wharton School of the University of Pennsylvania.
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Bruce W. Kaser, CFA
Vice President, Senior Portfolio Manager
Investment Experience: 25 Years
Bruce Kaser is responsible for Large Cap Value, Concentrated Large Cap Value, and Diversified Large Cap Core Equity research and portfolio management. Bruce joined RBC GAM (US) in 2007 from Freedom Capital Management, where he was a senior large cap value portfolio manager. Before joining Freedom Capital, he was a portfolio manager for value equity clients at Loomis Sayles. Bruce began his career in the investment industry in 1985. He earned a BS from Miami University (Ohio) and an MBA from the University of Chicago Graduate School of Business. Bruce is a CFA charterholder and member of the CFA Institute. He is also a member of the Petroleum Analysts of Boston, the Treasurer for the Boston, Massachusetts charity Strike Out Cancer and an instructor with the Teacher-to-Teacher: Alaska to El Salvador project.
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Stephen E. Kylander
Vice President, Senior Portfolio Manager
Investment Experience: 22 Years
Steve Kylander is the lead portfolio manager for the Mid Cap Value strategy and provides portfolio management support for the Small Cap Core strategy. Steve also conducts research for these strategies as well as the Microcap Core strategy. Before joining RBC GAM (US) in 2006, he was a portfolio manager and research analyst for Babson Capital Management. Steve’s previous experience also includes strategy consulting, mergers, and acquisitions work and investment banking for L.E.K. Consulting, The Yarmouth Group, and the First Boston Corporation. He began working in the investment industry in 1986. Steve earned a BA from Dartmouth College and an MBA from the Harvard Business School.
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Ryan Larson
Head of Equity Trading
Investment Experience: 10 Years
Ryan Larson is responsible for trade execution and management for the firm’s equity division. Ryan works to determine which brokers and trading vehicles will achieve best execution for our clients. He also serves as a spokesperson raising the firm’s media profile. Prior to joining RBC GAM (US) in 2000, Ryan worked at Wells Fargo Investment Management & Trust. He began his career in the investment industry in 2000. Ryan earned a BS in Business Administration from Creighton University and an MBA from DePaul University Kellstadt Graduate School of Business. He is a member of the Security Traders Association of Chicago. Ryan has been quoted in national and international publications such as The Wall Street Journal, the Financial Times, and The New York Times, and has been a guest on Bloomberg Radio and Television.
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Michael T. Lee, CFA
Chief Executive Officer, President & Chief Investment Officer
Investment Experience: 20 Years
Mike Lee is the Chief Executive Officer and President of the firm and responsible for overseeing the firm’s investment activities. He began his career at RBC GAM (US) in 1993 as an equity analyst. Mike’s prior professional experience includes seven years with Northwest Airlines in corporate sales and strategic systems development. He serves on the board of the Minnesota Children’s Museum, and is a mentor and advisor for the Carlson School Funds Enterprise at the University of Minnesota. Mike earned a BS in Economics from DePauw University and an MBA in Finance from the University of Minnesota Carlson School of Management. He is a CFA charterholder and member of the CFA Society of Minnesota.
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Stuart A. Lippe
Vice President, Senior Portfolio Manager
Investment Experience: 32 Years
Sam Lippe is responsible for Large Cap Value, Concentrated Large Cap Value, and Diversified Large Cap Core Equity research and portfolio management. Sam joined RBC GAM (US) in 2007 from Freedom Capital Management, where he served as a senior large cap value portfolio manager. Before joining Freedom Capital, he was a portfolio manager and research analyst for the endowment at the Howard Hughes Medical Institute. Sam also worked as an analyst for value-oriented portfolios at Legg Mason Capital Management and Sanford C. Bernstein & Company. He began his career in the investment industry in 1978. Sam earned a BS from Cornell University and an MBA from the New York University Stern School of Business. He is a member of the Association of Insurance and Financial Analysts.
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Kristen Patrie
Equity Trader
Investment Experience: 15 Years
Kristen Patrie is responsible for trade execution and management for the firm’s equity division. Kristen joined the RBC GAM (US) in 2006 from Investors Bank & Trust Company, where she was the manager of domestic settlements for equity products. Before that, she was responsible for equity trading and worked to achieve best execution for all equity strategies at Snyder Capital Management. Kristen also served as a senior account administrator for Babson Capital Management. She began her career in the investment industry in 1994. Kristen earned a BS in Business Administration from Roger Williams University.
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George Prince
Portfolio Manager, Senior Equity Analyst
Investment Experience: 13 Years
George Prince is a portfolio manager for the Microcap Core strategy and serves as a research analyst for the Small Cap Core and Mid Cap Value strategies. George joined RBC GAM (US) in 2006 from Eagle Asset Management, where he was a senior equity analyst. Prior to joining Eagle Asset Management, he was an analyst at Babson Capital Management. George began his career in the investment industry in 1984 and held the head of trading position at Langdon P. Cook & Co. He also has a great deal of entrepreneurial experience. George founded SignStorey, a leader in place-based digital communications in retail stores, which was sold to CBS in 2008, and co-founded Cutting Edge Inc., a global CAD-CAM technology company, which was sold to Gerber Scientific in 1997. He earned a BA from Yale University.
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Adam D. Scheiner, CFA
Vice President, Senior Portfolio Manager
Investment Experience: 21 Years
Adam Scheiner is responsible for Large Cap Value, Concentrated Large Cap Value, and Diversified Large Cap Core Equity research and portfolio management. Before joining RBC GAM (US) in 2007, Adam was a large cap value portfolio manager and research analyst at Credit Suisse Asset Management. His previous experience also includes portfolio management at Ark Asset Management and Invesco Capital Management. Adam began working in the investment industry in 1989. He earned a BA from Rutgers College and an MBA from the New York University Stern School of Business. Adam is a CFA charterholder and a member of the CFA Institute.
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Ryan H. Smith, CPA, CFA
Portfolio Manager
Investment Experience: 5 Years
Ryan Smith provides fundamental research and portfolio management for our Small and SMID Cap Growth strategies. Before joining RBC GAM (US) in 2007, Ryan spent three years as an equity research associate with William Blair & Company. He was a manager at Ernst & Young prior to working at William Blair. Ryan began his career in the investment industry in 2004. He earned a BS in Accountancy from Lehigh University and an MS in Accountancy from the University of Notre Dame. Ryan is both a CFA charterholder and Certified Public Accountant.
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Michael M. Spencer, CFA
Vice President, Senior Portfolio Manager
Investment Experience: 27 Years
Mike Spencer is responsible for Large Cap Value, Concentrated Large Cap Value, and Diversified Large Cap Core Equity research, portfolio management, and client service. Mike is also the client service portfolio manager for our International Equity clients. Before joining RBC GAM (US) in 2007, he was the chief investment officer and chief compliance officer of Freedom Capital Management, where he oversaw investment processes and served on the equity style committee. Mike’s previous experience also includes fixed income portfolio management at Shawmut National Corporation. He began his career in the investment industry in 1983. Mike earned an AB from the University of Notre Dame. He is a CFA charterholder and member of the CFA Institute. Mike is also a member of the Boston Economic Club and the Boston Security Analysts Society.
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Andry Sutanto
Analyst - Polaris Capital Management, LLC
Investment Experience: 5 Years
Andry Sutanto is an analyst for Polaris Capital Management LLC, the sub-advisor of Voyageur’s International Equity strategy. Andry’s focus is on quantitative research and the proprietary investment technology that is an integral part of Polaris’ investment process. Prior to working at Polaris, Andry worked in the finance and MIS departments at Northeastern University and was a computer engineer with the Cambridge Research Group. Andry began his career in the investment industry in 2005. He received a BS from Boston University and an MBA in Finance from Northeastern University.
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Gordon Telfer
Managing Director, Head of Growth Equities
Investment Experience: 24 Years
Gordon Telfer is responsible for developing opportunities to bring our equity strategies to global clients. Gordon is a member of the RBC Investment Strategy Committee (RISC) responsible for formulating macro investment strategy, and works with the CIO of RBC GAM to evaluate and adopt investment best practices. He joined RBC GAM (US) in 2003 from Alliance Capital Management, where he was a senior portfolio manager and member of the investment policy group. Before that, Gordon was a senior vice president and global strategist at Scudder Kemper Investments, serving on the firm’s investment management committee. He began his career in the investment industry in 1986 at Murray Johnstone International. Gordon has spoken at numerous regional and national conferences on portfolio management and been a guest on CNBC. A native of Glasgow, Scotland, he earned a Stock Exchange Diploma from Heriot-Watt University, Edinburgh, Scotland.
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Kenneth A. Tyszko, CPA, CFA
Vice President, Senior Portfolio Manager
Investment Experience: 26 Years
Ken Tyszko is responsible for Small and SMID Cap Growth research and portfolio management. Ken joined RBC GAM (US) in 2001 from Oberweis Asset Management Inc., where he served as a portfolio manager. From 1996 to 1999, he managed small cap growth assets for ABN AMRO Asset Management (USA) Inc. and ABN AMRO Incorporated. Before working at ABN AMRO, Ken was a portfolio manager with Sears Investment Management Co. (SIMCO). His background also includes experience at Main Hurdman, an international accounting and consulting firm. Ken began his career in the investment industry in 1984. He earned a BS in Accountancy from the University of Illinois. Ken is both a CFA charterholder and a Certified Public Accountant. He is a member of the Illinois CPA Society, the CFA Society of Chicago, and the CFA Institute. Ken has been a guest on Bloomberg Television and WebFN.
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Bin Xiao
Analyst – Polaris Capital Management, LLC
Investment Experience: 4 Years
Bin Xiao is responsible for quantitative and fundamental analysis of potential international equity opportunities. Bin joined Polaris Capital in 2006 after completing his internship for the firm in 2004/2005 working as an analyst. Prior to his experience at Polaris, Bin’s experience includes working as a systems engineer for PNC Financial Service Group (PFPC) and a software engineer at RIT Research Corporation. Bin began his career in the investment industry in 2006. He received a BE from the Beijing Institute of Technology in China. Bin also received a MS from the Rochester Institute of Technology and an MBA from MIT Sloan School of Management.
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