Oak Value Capital Management
, which serves as advisor to the Oak Value Fund
, last week announced a change to its three-member investment committee. Christy Phillips
, the firm's director of research, has replaced Matthew Sauer
, a senior portfolio manager and co-manager of the Oak Value Fund who recently left the firm.
According to the Web site of the Raleigh, North Carolina-based company, Phillips joined David Carr and Larry Coats on the investment committee in March. The committee is the primary decision making body of Oak Value Capital Management, and oversees the implementation of the organization's investment philosophy. Phillips joined Oak Value Capital management in 2003 and has served as an analyst for Wachovia, Smith Barney and Lehman Brothers during a two-decade career.
Sauer's daily research responsibilities will be assumed by other members of the firm's investment team, said an announcement.
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