People
We are deeply committed to gathering the best professionals in our industry. Along with our reputation, our people are our most valuable asset. Currently, we employ thirty individuals. We invite you to review the biographies of our professionals below.
Alvin A. Clay III
Chief Executive Officer
Principal
MT & BS Villanova University
Al has over thirty years of experience in the investment and accounting industries. Most recently, he was President & CEO of Pitcairn Financial Group. He had been with the Company since 1989 and served as President since 1993. Prior to joining Pitcairn, he was Senior Vice President at Butcher & Company and also spent six years with Ernst & Whinney, CPA’s. Al served on the Villanova University College of Commerce & Finance adjunct faculty and is the author of a professional reference manual on partnership taxation published by the Research Institute of America. He is a frequent speaker on the taxation of investments and other matters affecting wealth management for individuals and trusts. He holds the professional designations of CPA and CFP. Al is committed to numerous charitable endeavors and serves on various Boards and Committees throughout Pennsylvania and New Jersey.
James M. Davidson
Chairman of the Board
Founding Principal
MBA University of Michigan
BA Baldwin-Wallace College
Jim has over forty-five years of experience in investment counseling, estate & trust administration and estate planning and is the founder of Davidson Trust Company. Before establishing his own investment counseling firm in 1974, he was President and Director of Studley Shupert & Co., the national investment advisory subsidiary of Girard Bank (Mellon). Jim is a member of CFA Institute and the CFA Society of Philadelphia. Prior to the majority stake of Davidson Trust Company having been acquired by Boston Private Financial Holdings, Inc. in 2008, Jim served as Chief Executive Officer for thirty-three years.
Steven R. Klammer, Esquire
President
Principal
JD Rutgers
BS Drexel University
Steve is an attorney and Certified Public Accountant (inactive) with extensive experience in trust & estate administration and estate and business succession planning. In addition to his trust and fiduciary responsibilities, Steve is a member of our Management Committee. Prior to joining Davidson in 2002, Steve was a Partner in the Trust and Estates department of Pepper Hamilton, LLP where he practiced law for over a decade. Steve’s previous experience includes time with Touche Ross & Co. (now Deloitte & Touche) and the IRS. He is an active member of the Probate Section of the Philadelphia Bar Association and is a member of both the Philadelphia and Southern New Jersey Estate Planning Councils.
Cole P. Vastine, ChFC
Executive Vice President
Principal
BA Kenyon College
Cole has over seventeen years of experience in the areas of estate and trust administration and estate planning. In addition to his trust and fiduciary responsibilities, Cole is a member of our Management Committee. Before joining Davidson in 1995, he was an estate and trust administrator with the law firm of Dechert Price & Rhoads in Philadelphia. Cole is a member of the Philadelphia Estate Planning Council and the Personal Trust Services Committee of the Corporate Fiduciaries Association of Philadelphia. He earned his Chartered Financial Consultant designation through The American College.
Bruce K. Bauder, ChFC
Senior Vice President
Principal
MBA Drexel University
BA Franklin & Marshall College
Bruce has over twenty-five years of experience in the financial services industry. Before joining Davidson in 1997, he was a Vice President in the Trust Division of The Bryn Mawr Trust Company where he administered personal, trust, estate and institutional accounts. Prior to that, he spent ten years with Mellon Bank as an officer in their Trust Division where he provided investment custody services, as well as brokerage and securities operations. Bruce is a graduate of the Pennsylvania Bankers Central Atlantic School of Trust and earned his Chartered Financial Consultant designation through The American College. He is also a member of the Bucks County Estate Planning Council.
Mary Lisa Powers
Vice President
Mary Lisa has over twenty-three years of experience in the trust area. Prior to joining Davidson in 2004, she was a Fiduciary Account Officer specializing in fiduciary account administration with JP Morgan Trust/Chase Manhattan Bank. Mary Lisa’s previous experience includes twelve years with First Union National Bank (now Wachovia) holding various trust positions. She completed the Central Atlantic School of Trust at Bucknell University and is currently pursuing her legal studies at St. Joseph’s University where she is an Alpha Sigma Lambda Honor Society member . Mary Lisa is also a member of both the Montgomery County and Philadelphia Estate Planning Councils, as well as The World Affairs Council of Philadelphia.
Malcolm C. Wilson, CFA
Chief Investment Officer
Principal
MBA & BS Drexel University
Skip has over thirty-five years of experience in the investment management and trust business. In addition to his portfolio management responsibilities, Skip maintains equity research coverage in the Financial sector. Prior to joining Davidson in 2003, Skip was an Executive Vice President and Manager of the Investment & Trust Division of Mercantile Bankshares. Previously, he spent over twenty years with PNC Bank where he held a number of senior positions including CIO, Director of Economic and Investment Research, and Manager of PNC’s Philadelphia trust market.
Ernest E. Cecilia, CFA
Executive Vice President
Principal
MBA Fordham University
BS University of Dayton
Ernie has over thirty-five years of experience in the investment management industry. He manages individual and institutional portfolios and is responsible for the evaluation of companies within the Energy and Information Technology sectors. Before joining Davidson in 1998, he served as President and CIO of PNC Equity Advisors. In his position at PNC he was responsible for all investment management activities. He was also Director of Equity Research for PNC Investment Management & Research. Ernie is a member of the CFA Society of Philadelphia and the New York Society of Security Analysts, as well as the CFA Institute.
Joseph J. Costigan, CFA
Senior Vice President
Principal
MBA Pennsylvania State University
BS Elizabethtown College
Joe has over twenty years of experience in the financial services industry. In addition to managing portfolios, Joe is responsible for evaluating companies in the Healthcare, Consumer Discretionary, and Information Technology sectors. Prior to joining Davidson in 2000, he was an Assistant Vice President at Wilmington Trust Company where he managed investment portfolios for high net worth clients. Previous experience also includes eleven years at PNC Bank where he was a Private Equity Analyst, Portfolio Manager, and an officer in their retail business. Joe is a member of the CFA Institute and the CFA Society of Philadelphia.
N. Raymond Sague, CFA
Senior Vice President
Principal
MBA George Washington University
BS University of Baltimore
Ray has over twenty-five years of experience in the investment industry. In addition to managing portfolios he is a member of our investment strategy and equity research team. Prior to joining Davidson in 2006, Ray was managing investment portfolios for high net worth individuals, endowments, and charitable trusts at Mellon Private Wealth Management. Previous experience includes similar roles at First American Bank (now Wachovia) and Riggs National Bank (now PNC). Ray is a member of the CFA Institute, the CFA Society of Philadelphia, and the Washington Society of Investment Analysts, as well as both the Chester County and Philadelphia Estate Planning Councils.
Stephen R. Burns
Investment Associate
BS Georgetown University
Steve works closely with our investment strategy and equity research team covering companies within the Information Technology sector. Before joining Davidson in 2006, Steve was a Research Analyst with The Haverford Trust Company where he assisted their Investment Committee with stock selections by utilizing his skills in financial modeling. He was also involved in the creation of a $5 billion portfolio composite. Steve is currently a Level III candidate for the CFA designation.
Mary Talbutt-Glassberg
Vice President
MBA & BS Widener University
Mary has over twenty-five years of experience in portfolio and cash management. She is responsible for the analysis of fixed income investments and plays a key role in credit-related investment decisions. Prior to joining Davidson in 2002, Mary served as a Vice President in the Capital Markets Group of Mellon Financial Markets, LLC. Previous experience includes eight years as CFO and Treasurer for CRD, Inc., as well as a fixed income portfolio manager for the Vanguard Group. She is a member of the National Association of Business Economics, National Federation of Municipal Analysts, Association of Financial Professionals, Philadelphia Council for Business Economists, Global Interdependence Center, CFA Institute, and CFA Society of Philadelphia.
Bernadette J. Simmons
Investment Officer
Since joining Davidson in 1998, Bernadette has served in various roles and has held the position of head equity trader since 2001. Prior to joining the trading desk, Bernadette assisted the portfolio managers with research and presentations.
William S. Covert, CPA
Chief Financial Officer
Principal
BS Bloomsburg University
Bill has over twenty years of accounting experience, twelve of those with Siana, Carr & O'Connor, LLC, CPA's. Prior to joining Davidson in 2000, he was a Public Accountant with Boylston, Rothman and Helmeg, LLC specializing in the areas of individual, corporate and partnership taxation. He is a member of both the American and Pennsylvania Institutes of Certified Public Accountants. In addition to serving as CFO, Bill is our Compliance Officer responsible for banking regulations and reporting. Other areas of responsibility include office and personnel management.
Anne Bartolomeo DeSipio
Vice President
MS Cabrini College
BA Immaculata University
Anne has over twelve years of experience in the financial services industry and is the Director of Marketing. Before joining Davidson in 2001, she held Sales Assistant positions at both Morgan Stanley and Deutsche Banc Alex. Brown in Philadelphia. Anne began her career with the Principal Financial Group, where she was a Senior Marketing Coordinator. Anne is a member of the CFA Institute, the CFA Society of Philadelphia, the National Notary Association, and both the Main Line and Chester County Chambers of Commerce.
Jacqueline Pasquarello
Vice President
BA Cabrini College
Jackie has over eighteen years of experience in investment operations and trading and is the Operations Manager. Before joining Davidson in 2005, Jackie was a portfolio accountant with Chartwell Investment Partners, LLP and spent fourteen years at Morgan Stanley Investment Management (formerly Miller, Anderson & Sherrerd) where she was a Vice President involved in operations management and trading.