Articles by Richard Bernstein Advisors
ETF Portfolio Strategies
Richard Bernstein - Chief Executive Officer
Richard Bernstein is the chief executive officer and chief investment officer of Richard Bernstein Advisors LLC. In his role as CIO, Rich leads RBA’s Investment Committee, which manages all of the firm’s investments, and performs executive management functions as CEO.
Mr. Bernstein founded Richard Bernstein Advisors LLC (RBA) in 2009. The firm utilizes a unique top-down approach to investing, focusing on macro trends rather than individual stock selection. Mr. Bernstein has over 35 years' experience on Wall Street, most recently as the Chief Investment Strategist at Merrill Lynch & Co. Prior to joining Merrill Lynch in 1988, he held positions at E.F. Hutton and Chase Econometrics/IDC.
A much-noted expert on equity, style and asset allocation, Mr. Bernstein was voted to Institutional Investor magazine's annual "All-America Research Team" eighteen times, and is one of only fifty-seven analysts inducted into the Institutional Investor "Hall of Fame". He was also twice named to both Fortune magazine's "All-Star Analysts" and to Smart Money magazine's "Power 30", and was a member of Registered Rep's "Ten to Watch" for 2012. His book "Style Investing: Unique Insight into Equity Management" is widely viewed as the seminal book on style-oriented investment strategies. He donates the profits from that and his other book, "Navigate the Noise: Investing in the New Age of Media and Hype", to charity.
Mr. Bernstein is chair of the Alfred P. Sloan Foundation endowment's Investment Committee (~$2.0 billion) and sits on the Hamilton College endowment's Investment Committee (~$900 million); he is a trustee of both institutions. He is also a member of the Journal of Portfolio Management’sAdvisory Committee, and recently retired from the adjunct faculty of the NYU/Stern Graduate School of Business.
Rich holds an MBA in finance, with Beta Gamma Sigma distinction, from New York University, and a BA in economics from Hamilton College. He has lectured on finance and economics at numerous colleges, universities and professional forums.
John J. McCombe - President and Director of Distribution
John J. McCombe is president and director of distribution at Richard Bernstein Advisors. Mr. McCombe oversees the firm’s sales, marketing and communications and also helps to set the firm’s overall strategy along with Richard Bernstein. He joined RBA in 2010.
Before RBA, Mr. McCombe was executive vice president and Director of Retail Sales and Marketing at Cohen & Steers and president of Cohen & Steers Distributors. Over his 13 years there, he was the chief architect of their retail fund and distribution business through the major wire houses and fund supermarkets (RIAs), and was responsible for their marketing, communications and website. Mr. McCombe helped grow Cohen & Steers' assets-under-management from approximately $2 billion when he joined to $35 billion at their peak across open-end funds, closed-end funds and SMAs. He was also instrumental in helping Cohen & Steers go public in 2004.
Previously, Mr. McCombe spent 14 years at Merrill Lynch in a variety of sales and marketing roles, including, most notably, seven years in "retail syndicate" where he focused on closed-end fund IPOs raising over $70 billion for various asset managers.
John holds a BS in finance from Fordham University, where he has also taught, and an MBA in accounting from Pace University, and he sits on several not-for-profit boards.
Matthew Griswold, CFA - Director of Investments
Matthew Griswold is the director of investments at Richard Bernstein Advisors LLC. Mr. Griswold oversees investment process design and implementation for all investment products. He joined RBA in 2010.
Before joining RBA, Mr. Griswold was a vice president and portfolio manager at State Street Global Advisors, with responsibility for the design, execution and evaluation of both new and existing global investment strategies. His extensive portfolio management experience spans most major asset classes and includes both quantitative and fundamental investment disciplines. For almost 20 years, Matt assumed a wide variety of leadership positions within State Street in areas of portfolio construction, research, performance measurement, risk analysis, mutual fund administration and client service.
Matt holds a BS in industrial management from Carnegie Mellon University. He is a Chartered Financial AnalystÂ® charterholder and a member of the Boston Security Analysts Society, INC.
Lisa Kirschner - Director of Research
Lisa Kirschner is the director of research at Richard Bernstein Advisors LLC. Ms. Kirschner spearheads the firm’s top-down macroeconomic analysis, proprietary research and is a senior member of the RBA Investment Committee.
Ms. Kirschner has worked with Richard Bernstein since 1995. She was a member of Mr. Bernstein's top-ranked Quantitative Strategy Team at Merrill Lynch for ten years, with a primary focus on in-depth data analysis, and then continued working in a more senior role on his Investment Strategy Team until April 2009.
Ms. Kirschner co-authored numerous market studies and analyses with Mr. Bernstein while at Merrill, drawing on her expertise in corporate-earnings analysis and performance attribution to assist in the formulation of the team's investment strategies. Her public speaking roles included presentations for the Merrill Lynch Women's Leadership Conference Series and the Quantitative Work Alliance for Applied Finance, Education and Wisdom. She was Merrill Lynch's representative to Standard & Poor's Index Advisory Panel from 1999-2009.
Lisa attended both Indiana University and New York University.
Henry Timmons, CFA - Senior Quantitative Analyst
Henry Timmons is the senior quantitative analyst at Richard Bernstein Advisors LLC. Mr. Timmons is responsible for asset allocation, portfolio construction, risk management and ETF research.
Before joining RBA, Mr. Timmons was a portfolio manager and quantitative analyst at Grantham, Mayo, Van Otterloo & Co. LLC. While at GMO, Mr. Timmons evaluated quantitative and fundamental sources of alpha as potential inputs to the investment process, while assisting in constructing and managing portfolios. Prior to GMO, Mr. Timmons was a management consultant at PricewaterhouseCoopers LLP, where he designed forecasting models improving supply-chain management processes for various clients.
Henry holds a BS in mechanical engineering and an MEng in systems engineering and engineering management from Cornell University, and an MBA in finance from Cornell University's SC Johnson College of Business. He is a Chartered Financial AnalystÂ® charterholder.
New York, NY 10036
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