Aspen-based Obermeyer merges with Denver’s Wood Investment Council
October 10, 2014
Obermeyer Asset Management Co. has joined forces with a Denver firm, combining management of $1.7 billion in assets, which forms one of the largest investment advisory organizations in Colorado.
Denver-based Wood Investment Counsel will join Aspen-based Obermeyer Asset Management Co., headed by Wally Obermeyer, son of legendary ski-clothing designer Klaus Obermeyer. The newly formed Obermeyer Wood Investment Counsel will manage $1.7 billion in assets for 600 clients with 17 employees, placing it among the top 10 money managers in Denver. Obermeyer will serve as co-chairman and president, while George Wood will serve as co-chairman.
"We are thrilled to announce the formation of Obermeyer Wood and believe the combination of human capital deepens our experience and leverages our mutual strengths," Obermeyer, who founded Obermeyer Asset Management Co. in 1997, said in a statement Monday. "We truly believe this will enhance our ability to serve our clients' long-term interests and grow our business by recruiting and retaining high-quality investment professionals."
The new company will retain an Aspen office at 501 Rio Grande Place while also maintaining a Denver presence in Cherry Creek.
"Over time we have developed a strong mutual respect for one another and found that we shared core values, including a long-term investment philosophy and dedication to client service," Wood said in a statement. "Our discussions eventually led to the realization that combining the two firms would create a robust investment organization, allowing us to build on the best of both firms."
Prior to founding Obermeyer Asset Management, Wally Obermeyer earned a Master of Business Administration degree from Harvard Business School and a bachelor's degree from Harvard College. He served as regional vice president of Heritage Trust and Asset Management before forming the Aspen-based company. Wood Investment Counsel was founded in 1982 by Wood.