Like father, like son in the business world. Brendan Clark will takeover from his father Harry Clark as president of Clark Capital Management Group [profile]. The Clarks announced their plans for the Philadelphia-based independent investment advisory firm in a release today.

Brendan Clark Clark Capital Management Group President

Clark Capital is the advisor to the Navigator Equity Hedge Fund that launched at the end of 2010. The fund currently accounts for less than 10 percent of the firm's AUM, according to SEC filings. The fund is a part of Gemini Fund Services' Northern Lights Fund Trust series.

Harry Clark started his career in 1970, founded Clark Capital in 1986 and will remain chairman and CEO, developing the "overall vision of the firm" of the firm.

Harry Clark Clark Capital Management Group Chairman and CEO

The elder Clark credits the younger Clark with helping build the firm's assets threefold in two years. As executive vice president of business development, a role he assumed in 2010, Brendan Clark has been a "strong force" in building the firm's assets from $1 billion to $3 billion, Harry Clark stated.

Brendan Clark will play a more instrumental role in executing the firm's overall strategy, executing its business development initiatives and managing its service support teams and marketing functions.

"As President, his goal will be to continue the 40 percent per annum growth achieved over the past three years," stated Harry Clark.

"Clark Capital achieved impressive growth during the 'Lost Decade' as our unique investment philosophy and process resonated with the financial advisor community and their clients," Brendan Clark stated. "We have embraced several strategic avenues to support future growth. We expect to continue to exceed our targets on all fronts. I am honored to step into the role of President and I look forward to driving the next phase of success at Clark Capital."

Brendan Clark joined Clark Capital in 2001. 

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE