New York, NY – December 18, 2007 – Brown Brothers Harriman & Co. (BBH) today announced the appointment of Douglas A. (“Digger”) Donahue, Jr., 56, as the new Managing Partner, effective January 1, 2008. Mr. Donahue will succeed Michael W. McConnell, the current Managing Partner, who has served in the role since 2002. Mr. McConnell, who will be turning 65 in January, joined BBH in 1968 and will remain a Partner of the firm. BBH currently has 40 Partners.
Mr. Donahue joined Brown Brothers Harriman in 1976 as a commercial banker in the firm's Boston office. He was named a Partner in 1990. In 1997 he was made a member of the firm's Steering Committee and asked to run the firm’s worldwide Investor Services business.
"Brown Brothers is operating today at a very high level and Digger has been a big part of that as the head of our largest business. In addition, he has been a member of our Executive Management Committee for over ten years and knows the whole firm extremely well. He is the right guy to take us where we want to go." said Mr. McConnell.
"BBH occupies a unique market position in financial services today. We are keenly focused on growing with clients who value the specialized expertise and long-term continuity we bring to our relationships,” said Mr. Donahue. “In terms of my new role, one of the most important things about our model is that each of our Partners is intimately involved in the business. It’s always been a team approach, and at BBH it always will be.”
Mr. Donahue graduated from Dartmouth College in 1973 and received his Masters in Business Administration from the Harvard Business School in 1976.
About Brown Brothers Harriman & Co.
Founded in 1818, Brown Brothers Harriman & Co. (BBH) is well known for its entrepreneurial thinking, leading-edge technology, and unmatched attention to its clients. The firm is organized as a general partnership and serves clients globally in four businesses: Investor Services, Treasury & Markets, Investment Management, and Banking & Advisory.
BBH’s Investor Services and Treasury & Markets businesses provide cross border, institutional, administration, and execution services for the world’s leading asset managers and financial institutions in 100 markets. BBH is consistently ranked among the world's top global custodians, asset administrators, foreign exchange, and securities lending providers.
As an Investment Manager, BBH oversees approximately $45 billion as a trusted advisor to its longstanding private client and institutional clients. BBH is uniquely positioned to provide unconflicted advice and offers its clients a wide range of fiduciary services, including access to alternative investments through private equity, mezzanine, and absolute return funds.
BBH’s Banking & Advisory business focuses on building commercial banking and corporate finance relationships with privately owned or closely held public companies through all phases of growth. Through its Merchant Banking group, BBH has been an experienced lender to specialty commodity trading merchants for 190 years.
BBH operates a global business through eight domestic and seven overseas locations, including New York, Boston, New Jersey, Philadelphia, Charlotte, Palm Beach, Chicago, Dallas, London, Dublin, Luxembourg, Zürich, Grand Cayman, Hong Kong, and Tokyo.
For more information about Brown Brothers Harriman, please visit www.bbh.com.