Leavell Investment Management Names New Chairman of the Firm

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Leavell Investment Management Names New Chairman of the Firm

Leavell Investment Management, Inc. is pleased to announce the election of Richard M. Stimpson as Chairman of the firm. For the past ten years, Richard has served as an Investment Counselor and as a member of Leavell’s Board of Directors. In addition to his tenure with the firm, Richard is active with the Rotary Club of Mobile as well as the Downtown Mobile Alliance. Currently, he serves on the Boards of Outback America, the Business Council of Alabama and the Alabama Policy Institute.

“Richard is a natural successor to serve as Chairman of Leavell”, President and CEO Andrew Grinstead, commented. “His experience as a leader in business, in his community and in the state of Alabama, makes him an ideal fit for this role. He will carry on our firm’s proud tradition as an independent, locally owned investment manager committed to making decisions in the best interest of clients.”

Mr. Stimpson will be continuing in the path begun by Tom Leavell, the firm’s founder and namesake. Tom chose to step down as Chairman in order to give the next generation of employees an opportunity to lead the firm into the future. Tom will remain active within the firm doing what he loves most: Working as a portfolio manager for his longtime clients. Mr. Stimpson commented, “Tom has made this firm what it is today. It is with great anticipation that I look forward to working with our Board to ensure we continue what he set out to accomplish and succeeded in doing: Creating a culture of uncompromised integrity and commitment to service”. He added, “Recently we hit a milestone of $1.5 billion in client assets under management and are strategically focused on continued growth. Additionally, we have added several key employees to our firm over the past year in the Mobile and Birmingham markets, further deepening the professional expertise we can bring to bear on behalf of our clients.”

Leavell Investment Management, Inc. is an Alabama-based registered investment advisor with $1.5 billion* in assets under management. Since 1979, the firm has been serving clients including individuals and families, businesses, foundations, and retirement plan sponsors.
*as of July 31, 2016