Smead Capital Management, the Seattle-based investment adviser, will make West Conshohocken its East Coast sales hub when it opens a new office there in January, writes Jeff Blumenthal for the Philadelphia Business Journal.
The new hub will provide better services to clients along the eastern coast and reduce the time required to travel to serve clients in the region.
Smead opted to open the office in the Philadelphia suburbs in part due to the area’s attractive cost of living, housing, the region’s tax assessment, and its accessibility to the firm’s client base via planes, trains, and automobiles.
According to the Smead spokesperson, the firm will be at Four Tower Bridge “for the long haul.”
Scott Herdemian, a Villanova University graduate who has headed East Coast sales for Smead for the past five years, will oversee the new office and receive a promotion to senior vice president. He and two other employees will work on building the East Coast team.
This will be the firm’s third office. In addition to its Seattle headquarters, Smead opened an office in London in 2017 to serve its European client base.
Read more about Smead Capital Management at the Philadelphia Business Journal by clicking here.