History of Firm

Hillcrest Asset Management was founded in July 2007, by Brian Bruce (CEO & Chief Investment Officer.) Joining Brian soon thereafter were Doug Stark (Managing Director, Portfolio Management & Research), Brandon Troegle (Portfolio Manager & Analyst), and Deborah Trask (Chief Operating Officer.) Together, these four formed the nucleus of Hillcrest, which exists to this day. Brian, Doug and Deborah have a long history of working together, beginning in 1990 at State Street Global Advisors in Boston. In 1991, Brian and Doug developed the first global behavioral stock selection model, which was the basis for the process still in use at Hillcrest. Over the years, Brian and Doug have managed assets using the behavioral philosophy and process for several firms. Brian was the CIO at PanAgora Asset Management (a Putman subsidiary) while Doug was the Director of Research at Martingale Asset Management. The philosophy in building Hillcrest was to form a boutique manager that could capitalize on the behavioral errors of fundamental and quantitative managers and fully develop strategies that were constrained by the bureaucracy and size of larger managers. Brian had managed and closed small cap strategies at PanAgora and felt that a capacity constrained product would be a good product on which to build an asset management business. Rick Wilk also worked very closely with Brian Bruce for 8 years at PanAgora Asset Management as Director of Active Equities.

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