investment advisors
Todd M. Morgan, Senior Managing Director
Reed E. Halladay, Managing Director
Darell L. Krasnoff, Managing Director
Andrew D. Palmer, Managing Director
Ronald J. Silverman, Managing Director
Jack R. Suzar, Managing Director
Michael B. Miller, Managing Director
Josh Markman, Vice President
Kevin W. Philip, Vice President
David Sadkin, Vice President
Eric S. Bright, Vice President
investment strategies
Kenneth Naehu, Managing Director / Portfolio Manager, Fixed Income
Craig A. Brothers, Managing Director / Portfolio Manager, Fixed Income
Richard F. Freilich, Managing Director / Head of Equity Trading
Gary M. Flam, CFA; Managing Director / Portfolio Manager
Tim McCandless, Senior Equity Analyst
Neal Karchem, Senior Equity Analyst
Brian Goldberg, Vice President / Fixed Income Trader
Patrick Beltran, Fixed Income Trader
Justin Fenchel, Equity Analyst
Arun K. Bharath, CFA; Vice President, Manager Research
Cari Buckley, Vice President, Manager Research
Shana Yu, Associate, Manager Research
Lauren Hubbard, Product Associate
Administration
Matthew D. Anhut, Managing Director / GC / Chief Compliance Officer
Tyler K. Kelley, Managing Director / Chief Operating Officer
Ron Harrington, Managing Director / Chief Financial Officer
Deborah Dana, Compliance Officer / Manager, Human Resources
Jenniffer Andrew, Office Administrator
Siobhan McCracken, Front Office Administrator
Operations
Javier Wiley, Client Service Associate
Portfolio Administration & Implementation
Ed H. Huey, Manager, Portfolio Implementation/Administration
Cindy Chon, Portfolio Administration Specialist
Monica Sekhon, Portfolio Implementation Specialist
Advisory Support
Kathy Kim, Advisory Associate
Amanda Little, Advisory Associate
Khe "Kay" Tran, Advisory Associate
Peter Moore, Advisory Associate
Maryellen Mitchell, Executive Assistant
Stephanie Lesky, Executive Assistant
Alex Lewis, Analyst
Robert Wu, Analyst
Todd M. Morgan, Senior Managing Director (Back to Top)
Todd is a founding member of Bel Air Investment Advisors LLC. Prior to starting Bel Air, Todd was a Limited Partner at Goldman, Sachs & Co. in Los Angeles, where he launched the Private Client Services’ investment advisory business for high net worth individuals and families. Prior to the Los Angeles office, Todd was a General Partner in New York (1984-1991) where he was responsible for Private Client business for that region. Todd began his investment career in 1970.
Todd currently serves on the Board of Directors of Cedars-Sinai Medical Center in Los Angeles and is a member of its Investment and Resource Development committees. In 2001, he completed his term as the Chairman of the United Jewish Federation Council of Greater Los Angeles. He has also served in various roles of several charitable organizations including General Campaign Chairman and Chairman of the Los Angeles Jewish Federation; Honorary Trustee of the Jewish Community Foundation; member of the Board of Directors of Big Brothers of Greater Los Angeles; member of the Board of Governors of New York Hospital; and Vice Chairman of the Coalition to Free Soviet Jews.
Todd received his B.A. from the University of Minnesota.
Reed E. Halladay, Managing Director (Back to Top)
Reed is a founding member of Bel Air Investment Advisors LLC. Prior to starting Bel Air, Reed was with Goldman, Sachs & Co. in Los Angeles, where he specialized in equity and fixed income portfolio management and was also involved in new business development and single stock risk management. Reed began his investment career in 1976.
Reed has been a leader in his community, serving in The Church of Jesus Christ of Latter-day Saints as a bishop and as a stake president, and is currently a member of the President’s Advisory Council at Brigham Young University. In addition, Reed is the past Chairman and a current member of the School of Business Advisory Council at Utah Valley State College in Orem, Utah. He is a founding trustee and Chairman of the Board of the Pasadena Museum of California Art.
Reed received his B.A. and M.B.A. degrees from Brigham Young University.
Darell L. Krasnoff, Managing Director (Back to Top)
Darell is a founding member of Bel Air Investment Advisors LLC. Prior to starting Bel Air, Darell was a Managing Director of Goldman, Sachs & Co., overseeing Private Client Services for the Los Angeles office, where he started his investment career in 1981.
Darell is on the Board of Directors of the Center Theatre Group, the operating company for the Ahmanson Theatre and Mark Taper Forum, and is the Chairman of the investment committee for the Music Center Foundation. He is the past Chairman and current member of the Board of L.A. Team Mentoring, an organization that provides mentors for approximately 1,200 students at ten middle schools in challenging urban neighborhoods in Los Angeles. He is a member of the Board of Trustees of the Pardes Institute of Jewish Studies in Jerusalem.
Darell holds a B.A. from Occidental College, and an M.B.A. from the Stanford Graduate School of Management.
Andrew D. Palmer, Managing Director (Back to Top)
Andrew joined Bel Air Investment Advisors llc in 2001 and is responsible for client servicing, business development, and advisory team oversight. Previously, Andrew was a Senior Financial Advisor at Merrill Lynch & Co., Inc. for over five years, where he specialized in equity and fixed income portfolio management for high net worth individuals. Andrew began his investment career in 1996 and was recently named to Barron’s “Top 100 Financial Advisors” list.
Andrew is on the Board of Directors of the California Oncological Research Institute (CORI) and a benefactor of the John Wayne Cancer Institute at St. John’s Hospital. Andrew is a member of the Board of Directors of Jewish Vocational Services and a participant in the Jewish Federation and Israel Children’s Centers. Andrew is also an active supporter of charter schools and has supported the Inner City Education Foundation (icef) and the New Millennium Secondary School, which offer at-risk children a quality education in their own community.
Andrew is an avid golfer, fly fisherman and baseball/soccer coach. Andrew received his B.A. from the University of Denver.
Ronald J. Silverman, Managing Director
(Back to Top)
Ron joined Bel Air Investment Advisors LLC in 2003 as an investment advisor. Prior to joining Bel Air, Ron was a Senior Managing Director and a member of the Management Committee of Gerard Klauer Mattison & Co., Inc., an investment bank headquartered in New York. Before GKM, Ron was a partner of the Beverly Hills-based law firm Weissmann, Wolff, Bergman, Coleman, & Silverman for 15 years; earlier he was a partner of the Los Angeles law firm Manatt, Phelps, Rothenberg & Tunney. Ron started his legal career as a trial attorney with the United States Department of Justice, Antitrust Division.
Ron is on the Board of Directors of the City of Hope. He previously served on the Board of Directors of Cedars-Sinai Medical Center. Ron has also been active in Jewish Federation activities, leading the Los Angeles chapter on its first mission to Cuba in 1999 and co-chairing a UJF Major Gifts Mission to Washington, D.C. Ron is also on the Board of Trustees of Children Institute Inc.
Ron serves on the Board of Advisors of the George Washington University Law School, where he received his J.D. degree. He received his B.A. degree from Pennsylvania State University.
Jack R. Suzar, Managing Director (Back to Top)
Jack joined Bel Air Investment Advisors LLC in 1999, after more than 32 years consulting and advising clients on tax and investment strategies at BDO Seidman, LLP in Los Angeles. He was a member of senior management at BDO Seidman, serving on its Board of Directors and Executive Committee.
Jack has long been active in civic and charitable organizations. He is a past Chairman of the Board of Directors of City of Hope National Medical Center and the Beckman Research Institute, has served on the Board of Advisors at the University of Southern California Leventhal School of Accounting, and has been involved with the Music Center and the United Way. Additionally, he has served as the President of the Board of Directors for Jewish Vocational Services.
Jack received his B.S. in accounting from California State University at Northridge.
Michael B. Miller, Managing Director (Back to Top)
Michael joined Bel Air Investment Advisors LLC in 2008 after more than 20 years consulting and advising clients as an international corporate lawyer. Prior to joining Bel Air, Michael was the founding partner of Miller Law, a Beverly Hills based boutique law firm specializing in business law, finance, real estate, employment issues and family office oversight. Before Miller Law, Michael was a partner at Alschuler, Grossman, Stein and Kahan and an associate at Skadden, Arps, Slate, Meagher & Flom. Michael started his legal career in New York at Willkie, Farr & Gallagher.
Michael is on the Board of Directors of Whole Child International and has also served of numerous nonprofit organizations including The Child Labor Project, We Are the Future, Arnold’s All Stars, Bet Tzedek, the Museum of Tolerance, Jewish Big Brothers, the Los Angeles Business Council, and California Lawyers for the Arts.
Michael received his J.D. degree from New York University School of Law. He received his B.A. from Rutgers College and a General Course degree from the London School of Economics.
Josh Markman , Vice President (Back to Top)
Josh joined Bel Air Investment Advisors LLC in 2008 and is responsible for client servicing and business development. Prior to Bel Air, Josh was a Vice President at Goldman Sachs & Co. in Los Angeles. He specialized in fixed income, equity, and alternative investments for high net worth families, institutions, and foundations. He began his career at the William Morris Agency.
Josh received his B.A from the University of Pennsylvania and is active in the Penn Alumni Committee, conducting interviews for high school seniors applying to U Penn. Josh earned his M.B.A from the Wharton School of Business. He is also an active participant in the Jewish Federation and Israel Humanitarian Foundation.
Kevin W. Philip, Vice President (Back to Top)
Kevin joined Bel Air Investment Advisors LLC in 2002 and is responsible for client servicing and business development. Kevin has in-depth experience in asset allocation modeling, complicated estate structuring, and asset manager evaluation.
Prior to joining Bel Air, Kevin had experience at Morgan Stanley, Century National Bank and the U.S. State Department in Berlin. He is an active supporter of UNICEF, Doctors Without Borders, International Medical Corps (IMC) and the American Red Cross.
Kevin received his B.A. with honors from Stanford University.
David Sadkin, Vice President (Back to Top)
David joined Bel Air Investment Advisors LLC in 2006 and is responsible for client servicing and business development. Prior to joining Bel Air, David was senior counsel to Rep. Henry A. Waxman and executive director of his political action committee, L.A. PAC. He previously served as counsel to the House of Representatives Committee on Government Reform in Washington, D.C., and is admitted to the California and District of Columbia bars.
David earned his J.D. from Harvard Law School in 1994. While at Harvard, David was a teaching fellow in economics, and was recognized with the Outstanding Teaching Fellow award. David received his B.S. in Economics with highest honors from the University of Illinois at Urbana-Champaign.
Eric S. Bright, Vice President (Back to Top)
Eric joined Bel Air Investment Advisors LLC in 2004 and is responsible for client servicing and business development. Eric has in-depth experience in asset allocation modeling, complicated estate structuring and asset manager evaluation.
Eric is a Director of The NineTenths Group, a non-profit organization that provides pro bono consulting services to early stage education-related ventures. Eric is also a member of various education related non-profit organizations in the greater Los Angeles community.
Eric received a B.A. in Economics and a B.A. in Government from Claremont McKenna College.
Kenneth Naehu, Managing Director, Head of Fixed Income Trading (Back to Top)
Ken is the senior portfolio manager and head of Bel Air's fixed income strategy. Before joining Bel Air Investment Advisors in 1998, Ken held the positions of Associate Director and senior trader, responsible for the West Coast Municipal Department of Bear, Stearns & Co., Inc. Prior to Bear Stearns, Ken was an Assistant Vice President in the High Yield Department with Drexel Burnham Lambert. Ken began his investment career in 1985.
Ken is involved with Big Brothers of Los Angeles and participates in triathlons. He received his B.S. in business administration from Pepperdine University.
Craig A. Brothers, Managing Director; Portfolio Manager (Back to Top)
Craig is a portfolio manager for Bel Air’s fixed income strategy. Before joining Bel Air Investment Advisors LLC in 2002, Craig was the Head Municipal Trader at Fidelity Investments in Los Angeles, handling municipal securities for institutional and retail clients. Before Fidelity, Craig was a Senior Vice President/Institutional Trader at Lehman Brothers, where he traded one of the largest municipal inventories on the West Coast, with an emphasis on bonds in the serial maturity range. Craig began his investment career in 1984.
Craig is active in the community and enjoys coaching youth soccer and baseball. He received his B.S. in economics from the University of California, Los Angeles.
Richard F. Freilich, Managing Director, Head of Equity Trading (Back to Top)
Rich joined Bel Air Investment Advisors LLC in 1998, and is head of equity trading with specific responsibilities for the Bel Air Opportunistic Fund, LP. Prior to coming to Bel Air, Rich served as an Assistant Vice President with Donaldson, Lufkin & Jenrette, where his responsibilities included managing the Prime Brokerage Trading Desk. Before DLJ, he was with Icahn & Company for seven years, where his primary responsibilities included sales and trading for high net worth clients. Rich began his investment career in 1983.
Rich received his B.A. in Marketing from Rider University in Lawrenceville, New Jersey.
Gary M. Flam, CFA; Managing Director / Portfolio Manager (Back to Top)
Gary joined Bel Air Investment Advisors LLC in 2004 where he is a portfolio manager at Bel Air Investment Advisors LLC. Previously, Gary held positions as an analyst at William O’Neil & Co. and a portfolio manager at Wells Fargo Bank, where he managed equity and fixed income portfolios for high net worth individuals. He was also a member of Wells Fargo’s Fixed Income Investment Policy Committee.
Gary has been a CFA charterholder since 2000 and is a member of the CFA Institute and the Los Angeles Society of Financial Analysts. He received his B.A. magna cum laude from the University of Rochester and his M.B.A. from The Wharton School at the University of Pennsylvania.
Timothy W, McCandless, Senior Equity Analyst (Back to Top)
Tim joined Bel Air Investment Advisors LLC in 2007 where he is a senior equity analyst. Previously, he was a principal at Chapman Capital. From 2003 to 2006, Tim was the senior analyst and then partner at Symmetry Capital, a long/short hedge fund. Prior to Symmetry Capital, Tim spent nearly four years in equity research at Banc of America Securities; he was the sole research associate on the Major Pharmaceuticals team ranked as "Best Up-and Comer" in Institutional Investor'rs 2003 All-American Team.
Tim has raised money for cancer research for the Leukemia Society of America and regularly competes in triathlons. He received his B.A. in Molecular and Cell Biology with an emphasis in genetics from the University of California at Berkeley.
Neal Karchem, Senior Equity Analyst (Back to Top)
Neal joined Bel Air Investment Advisors LLC in 2008 as a Senior Equity Analyst. He was previously an Analyst and Sector Manager for 5 years at Ascend Capital, LLC, a long/short hedge fund, focusing on the Technology sector. Prior to that, Neal was an investment banker in the Technology Mergers and Acquisitions group at UBS. Neal began his career as an engineer in Boeing's Space Systems division.
Neal has organized a fundraising team for Organs 'R Us for many years and also organizes and participates on various running and soccer teams. He earned his B.S. from Massachusetts Institute of Technology and his M.S. from Stanford University.
Brian Goldberg, Vice President / Fixed Income Trader (Back to Top)
Brian joined Bel Air Investment Advisors in July of 2000. Prior to joining Bel Air, Brian worked as a research analyst for CIBC Oppenheimer. Prior to CIBC, he worked at Morgan Stanley where he specialized in equity and fixed income portfolio management for high net worth individuals. Brian received his B.S. in business finance from the University of Southern California.
Matthew D. Anhut, Managing Director; General Counsel; Chief Compliance Officer (Back to Top)
Matt joined Bel Air Investment Advisors LLC in 2005 from private practice, where he focused on securities regulatory matters for investment advisory and broker-dealer clients. He practiced with the law firm of Bryan Cave LLP in Santa Monica and, earlier, with Kirkpatrick & Lockhart LLP in New York and Washington, D.C. Matt is admitted to the California, Maryland and District of Columbia bars.
He received his B.S. in Business Administration from Georgetown University and his J.D. with honors from Emory University.
Tyler Kelley, Managing Director, Chief Operating Officer
(Back to Top)
Tyler is the chief operating officer and a partner at Bel Air Investment Advisors LLC, a Los Angeles-based asset management firm that manages and oversees over $5 billion for high-net worth families, individuals and organizations. Prior to Bel Air, Tyler worked at AECOM, the largest general architectural and engineering design firm in the world, where he was responsible for strategic planning and acquisitions, and reported directly to the CFO and chairman. Before AECOM, Tyler worked at Goldman, Sachs & Co. in Los Angeles for the Mergers and Strategic Advisory Group.
Currently, Tyler serves as a Los Angeles County commissioner and chairman of the Local Government Services Commission. Additionally, he is a co-chair of the Los Angeles County Museum of Arts’ (LACMA) corporate advisory committee and a founding board member of the New Millennium Secondary School, the first charter school in Carson, California.
Tyler graduated from the University of Southern California with a B.A. in International Relations and Political Science, where he served as the student body president in 2000. Upon graduation, Tyler was named one of 18 Henry R. Luce scholars in a nationwide competition that took him to Jakarta, Indonesia where he worked for the Castle Group, a leading entry market strategy firm in Southeast Asia.
Tyler speaks regularly on topics pertaining to leadership development and has been quoted on various subject matters in publications, including the Los Angeles Times and Investment Advisor Magazine, for his work in the not-for-profit community.
Ron Harrington, Managing Director; Chief Financial Officer
(Back to Top)
Before joining Bel Air Investment Advisors LLC in 2006, Ron held positions as Vice President and Chief Financial Officer of a national chemical company, and as a Senior Manager with Deloitte & Touche, where he was a national expert in financial services and financial instruments.
He has served on the Board of the Western Securities Management Association and various nonprofit boards. He currently serves on the Board of the Child Educational Center serving CalTech and JPL as chair of the finance committee.
Ron has an M.B.A. and B.S. in Finance from the University of Southern California, and is a Certified Public Accountant.
Deborah Dana, Compliance Officer / Manager, Human Resources (Back to Top)
Deborah has dual roles as a Compliance Officer and Human Resources Manager. Prior to joining Bel Air Investment Advisors LLC in 2005, she held positions as Assistant Vice President, Manager of Conversions/New Client Implementation and Client Relationship Manager for Fiserv Securities, a custodian and clearing firm. Deborah also served as Vice President of Client and Brokerage Services for WM Financial Services Inc. (Washington Mutual Bank’s Broker/Dealer). She also spent time in roles at Smith Barney and Merrill Lynch, and her work experience has taken her to New York City, Philadelphia, Chicago and London.
Deborah is an avid runner and has completed the New York Marathon. She received a B.S. in Business Management from California State University, Long Beach. She holds NASD Licenses including the Series 7, 63 and 24.
Arun K. Bharath, CFA; Vice President
(Back to Top)
Arun is the head of external investment strategies and a voting member of the Investment Committee. In addition to leading the process for the selection of traditional (long only) and alternative managers, he will contribute to the determination of the firm's recommended asset allocation as well as style allocation within asset classes.
Prior to joining Bel Air, Arun was the Director of Research at Beacon Pointe Advisors where he led the research efforts in asset allocation and manager selection and performance monitoring across all asset classes. He has previously worked in several manufacturing organizations such as Ford Motor Company, Toyota Motor Manufacturing NA, and Honeywell in various engineering capacities.
Arun holds the Chartered Financial Analyst designation. He is a member of the CFA Institute and the New York Society for Security Analysts. Arun has received a Masters in Business Administration from University of Southern California and also a Masters in Industrial Engineering from Oklahoma State University. He has also passed Chartered Alternative Investment Association Level I exam.
Cari Buckley, Vice President, Manager Research (Back to Top)
Cari is responsible for Bel Air's multi-manager platform, including the manager selection process. She is a member of the Investment Committee, in addition to her responsibilities in the process selecting traditional (long only) and alternative managers. Cari contributes to the determination of the firm's recommended asset allocation as well as style allocation within asset classes.
Prior to joining Bel Air, Cari was an Investment Analyst at Standard & Poor's where she oversaw $175 million in assets for clients employing multi-manager Model Allocation Portfolios that diversified among mutual funds, exchange-traded funds, and equity stock baskets for fee-based advisors.
Cari received her B.S in Finance from Drake University.
Shana Yu, Associate, Manager Research
(Back to Top)
Shana joined Bel Air Investment Advisors LLC in 2006 and is responsible for manager research in traditional equities and alternative investments. Shana has extensive experience in asset allocation modeling and asset manager evaluation.
Shana is an advisor to the New Millennium Secondary School, the first charter school in Carson City, California. This school is supported by the Walton Foundation, Broad Foundation, and U.S. Ambassador Frank Baxter. Shana is also an active volunteer for both Asians for Miracle Marrow Matches and Project Sunshine.
Shana received a B.A. in Public Policy Analysis-Economics from Pomona College. In furthering her education, Shana has completed Level I of the CFA exam.
Ed Huey, Manager, Portfolio Implementation/Administration
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Ed joined Bel Air Investment Advisors in 1999, after serving as a Fund Accountant for Strome-Susskind Investment Management, LP, where his responsibilities included accounting for hedge fund transactions, database maintenance, performance reporting and preparation of financial statements.
Ed received his B.A. in Sociology from California State University, Los Angeles in 1994.
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