Callan Associates founder and chairman emeritus Ed Callan died Saturday morning at Stanford Hospital in California. He was 88.

Callan is considered to be one of the founders of the investment measurement business.

In 1966, Callan started the investment measurement division at Mitchum, Jones & Templeton. Seven years later, Callan and some of his colleagues acquired the performance division and launched it as an independent firm under the Callan Associates name.

"Mr. Callan loved our company, and although he was retired, he was in the office every morning he was in town and remained committed to our Associates and clients," said Callan spokeswoman Nancy Malinowski in an e-mailed statement to The MFWire.

Callan held no financial stake in the firm, having sold his shares in 1990, Malinowski said.

Funeral services will be held 2 p.m. on Saturday at Grace Cathedral in San Francisco.

Callan's death occurred two days before the company he founded announced that it and Mercer terminated the merger agreement they made on February 17 (see The MFWire, 03/30/09).  

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