The founder of a Texas mutual fund shop is handing off one of his hats. Watch for the firm to make new hires and make an institutional push.

Tammira Philippe Bridgeway Capital Management President

Last week, John Montgomery confirmed the promotion of marketing and client service chief Tammira Philippe to president of Houston-based Bridgeway Capital Management [profile]. Montgomery will continue to serve as chairman and chief investment officer of Bridgeway.

Philippe tells MFWire that anointing someone to take her place atop the marketing and client service team will be "one of her first priorities as president."

"We're definitely going to have a separate leader of marketing and client service," Philippe says. "That team is going to be able to take on the leadership."

As for adding to Bridgeway's staff, Philippe says that she's "always looking for great hires."

"When the talent finds us we find a way to make it happen," Philippe says. "Our priority is to hire someone who's primarily focused on institutional outreach."

Philippe's other priorities include "continuing the great momentum" that her team has in client service and spreading the word on Bridgeway.

"We want to really raise awareness Bridgeway," Philippe says. "We want to continue to diversify our client base ... We've started to build loyalty among institutional clients."

And Philippe says that the Bridgeway team will "continue to broaden" Bridgeway's investment capabilities "into other universes". Bridgeway is currently primarily a long-only U.S. equity manager, though they do offer one long/short strategy, and they use academic research and quantitative perspective.

Philippe's big picture though is "to build an enduring firm." Bridgeway currently has about $6 billion in AUM. Though Bridgeway has some outside ownership, Philippe confirms that "the vast majority is owned by the partners," and "every long-term staff member does participate in ownership of the firm" through what the Bridgeway calls their PSOP (partner stock ownership plan, a plan on the traditional "ESOP" or "Employee Stock Ownership Plan" label.

Montgomery founded Bridgeway in 1993. Philippe, an alumnus of Texas A&M and Stanford, worked at McKinsey and ICO Global Communications before joining Bridgeway in 2005. She started out with the firm in an operations and strategy role, then rose to marketing and client service in 2010.

Beyond Montgomery and Philippe, the rest of Bridgeway's leadership team includes: Dick Cancelmo, PM and head of the trading team; Von Celestine, head of corporate administration; Shannon Sedgwick Davis, CEO of the Bridgeway Foundation; Linda Giuffre, chief compliance officer; and Sharon Lester, head of investment operationns. 

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