Federated Clover | Our Team

The Federated Clover team has managed value equity portfolios for over 30 years. Our fundamental analysts conduct bottom-up research on companies and industries to identify candidates for investment. Our dedicated quantitative analysts are integral to the research effort, drawing upon the team’s own analysis as well as the latest academic literature to develop and enhance Federated Clover’s proprietary systems and models.

The unique, collaborative culture that we have developed over the years is an important factor in our ability to attract and retain talented, tough-minded people with backgrounds in public accounting, banking, and private enterprise—many with numerous academic honors.

Stephen Gutch, CFA

  • Senior Vice President, Senior Portfolio Manager
  • B.A. and M.B.A., Simon Business School at the University of Rochester

Paul Spindler, CFA

  • Vice President, Portfolio Manager
  • B.S., Rochester Institute of Technology
  • M.B.A., Ohio State University

Matthew Kaufler, CFA

  • Vice President, Portfolio Manager
  • B.S., New York Institute of Technology
  • M.B.A., Rochester Institute of Technology
  • M.S., Simon Business School at the University of Rochester

Albert Yu, CFA

  • Portfolio Manager, Senior Investment Analyst
  • B.A., Brown University
  • M.B.A., MIT Sloan School

Joseph Cerqua, CFA

  • Assistant Vice President, Senior Investment Analyst
  • B.S., State University of New York at Oswego

John Garnish, CFA

  • Portfolio Manager, Senior Investment Analyst
  • B.S., Rensselaer Polytechnic Institute
  • M.B.A., Northwestern University

Martin Jarzebowski, CFA

  • Vice President, Portfolio Manager, Senior Investment Analyst
  • B.S. Cornell University
  • M.S., London School of Economics

Adam Koser, CFA

  • Investment Analyst
  • B.A. Bloomsburg University
  • M.B.A., Pennsylvania State University, Smeal College of Business

Charles Ruff, CFA

  • Investment Analyst
  • B.A., Hamilton College
  • M.Sc., Cass Business School at City University of London

Eric Triplett

  • Investment Analyst
  • B.S. University of Scranton; M.B.A., Columbia Business School

Daniel Burnside, Ph.D., CFA

  • Vice President, Director, Quantitative Research/Strategies, Portfolio Manager
  • B.S., M.S. and Ph.D., Cornell University
  • M.B.A., Simon Business School at the University of Rochester

Stephen Sheflin

  • Assistant Vice President, Senior Quantitative Analyst
  • B.S., Rochester Institute of Technology
  • M.S., Simon Business School at the University of Rochester

Peter Smith

  • Vice President, Client Portfolio Manager
  • B.A., Hamilton College