Rebecca Garner, an SEC registered investment adviser, has resigned as president and chief investment officer of Garrison Asset Management in Fayetteville.
Garner said she will be with GAM through April 27 and has accepted a position as a fixed income adviser with Decatur, Ill.-based Investment Planners Inc., a former institutional client of GAM. She will open an office in downtown Fayetteville.
Bob O’Neal, president and CEO of Garrison Financial Corp., the holding company for GAM and Garrison Financial Advisors Inc., said the move is a “win-win for everybody.”
“She’s assembled an awfully good staff over the years,” O’Neal said. “I think we’re going to be able to internally restructure.”
Both Garner and O’Neal said clients of all firms involved will see no difference in their services.
Garner sold Garner Asset Management to Tom Garrison in February of 2005 for an undisclosed amount, and is leaving the new firm before her contract expires in February 2008.
Garrison Financial Corp. had $335.7 million in assets under management as of Sept. 30, up 34 percent from the previous year.
Garrison Asset Management had 196 accounts and $265.7 million in assets under management at that time, and Garrison Financial Advisors had 128 accounts and $70 million in assets under management. Garner Asset Management managed about 75 accounts worth $158 million in 2005.
Until recently, Tom Schallhorn had been the executive vice president of Garrison Financial Advisors, but he left the firm about two weeks ago and is now with another firm in Fayetteville.
Garner said the parting is amicable and she will use GAM as an outsource firm for some equity management.
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