Morningstar Advisor - Winter 2008 - (Page 62) Undiscovered Managers Wire-to-Wire Consistency By Karen Dolan and Lawrence Jones With their cheap fees and duration-neutral approach, Mary Ellen Stanek and team earn shareholders steady returns with low risk. A firm handshake. That’s how bond managers Mary Ellen Stanek, Gary Elfe, and Charlie Groeschell parted ways with their longtime employer, Firstar Investment Research and Management Co., and moved to R.W. Baird. After a two-hour discussion with Baird CEO Paul Purcell, the group shook hands (there was no formal contract), and the seeds of a lasting partner- ship were planted. Eight years later, the move to Baird has proven to be good for the team and for those who have invested in its funds. A Homegrown Milwaukee Team Stanek, Elfe, and Groeschell have long been at the heart of the team. The trio have been managing money together for more than 25 years. You’d be hard-pressed to find many investment teams that have lasted as long. In addition to guiding the bond team, Stanek also serves as Baird Advisor’s chief investment officer. She has managed fixed-income assets for 28 years and has cultivated more than just a strong track record. The team she oversees is several layers deep now, but it remains focused on serving investors. Stanek has a welcoming aura, and her personality more than fits in well with Purcell’s 62 Morningstar Advisor Winter 2008
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