20110411-NEWS--23-NAT-CCI-CL_--
4/8/2011
1:44 PM
Page 1
APRIL 11 - 17, 2011
CRAIN’S CLEVELAND BUSINESS
WWW.CRAINSCLEVELAND.COM
23
BANK ASSET MANAGERS
RANKED BY ASSETS UNDER MANAGEMENT LOCALLY Total assets under local management with discretion (millions)
Company Address Rank Phone/Web site
Dec. 31, 2010
Dec. 31, 2009
% change
Minimum Total number individual of local account accounts (thousands)
Portfolio analysts on staff
Compensation for services
Chief investment officer
Top local executive Title Kenneth A. Dorsett exec. vice president, Wealth Management Services
1
FirstMerit Bank NA 106 S. Main St., Akron 44308 (888) 384-6388/www.firstmerit.com
$2,553.7
$2,483.0
2.8%
2,750
$250.0
16
Percentage of assets under management
Robert M. Leggett
2
Fifth Third Asset Management Inc. 600 Superior Ave. East, Cleveland 44144 (800) 786-8651/www.ftam.com
$2,182.8
$2,217.2
-1.6%
344
$100.0
0
Percentage of assets under management
E. Keith Wirtz
3
Huntington National Bank 917 Euclid Ave., Cleveland 44115 (800) 480-2265/www.huntington.com
$1,420.0
$1,300.0
9.2%
1,200
$300.0
6
Percentage of assets under management
Randy Bateman
Chris Cwiklinski senior vice president, portfolio manager
4
Northern Trust 200 Public Square, Suite 1950, Cleveland 44114 (216) 357-2400/www.northerntrust.com
$936.8
$881.1
6.3%
851
$1,000.0
3
Percentage of assets under management
Mary Lynn Laughlin Douglas Y. Wang
Michael A. Cogan president, CEO, Ohio
5
Lorain National Bank 457 Broadway Ave., Lorain 44052 (440) 244-6000/www.4lnb.com
$145.0
$142.0
2.1%
507
$100.0
NA
Percentage of assets under management
Patrick J. Griffin
Source: Information is supplied by the companies unless footnoted. Crain's Cleveland Business does not independently verify the information and there is no guarantee these listings are complete or accurate. We welcome all responses to our lists and will include omitted information or clarifications in coming issues. Business lists and The Book of Lists are available to purchase at www.crainscleveland.com.
Zoo: Organization contemplates long-term plan continued from PAGE 3
since it opened the $32 million RainForest exhibit in late 1992. That attraction led attendance to spike more than 50% to roughly 1.44 million visitors the first full year it was open and, according to zoo director Steve Taylor, helped turn the zoo around. “It’s not rocket science,” Mr. Taylor said. “People love wild animals.” Zoo officials hope the elephant exhibit similarly leads to a surge in patrons, though attendance hasn’t sagged despite the tepid economy over the last few years. Last year, for example, nearly 1.18 million people visited the zoo, and officials anticipate attendance to grow to 1.3 million this year — a number Mr. Taylor characterized as a conservative estimate. Sue Allen, the zoo’s marketing and public relations manager, said the zoo has maintained its attendance numbers by keeping admission fees low and offering seasonal attractions, such as its stingray and animatronic dinosaur exhibits. Those attractions, coupled with big-ticket exhibits such as African Elephant Crossing and the RainForest, are important components of doing
business and keeping patrons coming back, Ms. Allen said. “With a couple amusement parks around, they’ve trained Clevelanders to expect something new every summer,” Ms. Allen said.
In the nick of time Though the sprawling, new elephant complex is nearing completion, some loose ends must be tied up on the financing front. The project’s $25 million price tag is split between the Cleveland Zoological Society — the fundraising arm for the zoo — and the Metroparks’ capital budget, which is financed by a 10-year, renewable tax levy. The zoological society is about $160,000 shy of its $12.5 million fundraising goal, according to Liz Fowler, the group’s executive director. Ms. Fowler said it’s turning to various individuals and foundations to shore up the rest of that cash, which it hopes to raise by the time the exhibit opens May 5. The fundraisers were able to sidestep the paralyzing recession by bringing in about $10 million of the needed capital prior to the elephant exhibit’s 2008 groundbreaking.
So far, about 3,500 donors have contributed to the campaign, which has netted four $1 million gifts. “People are really enthusiastic,” Ms. Fowler said. “When they see the quality of the plans and the commitment to high standards of animal care and educational outreach, people get it and are excited to be part of it.”
Charging ahead Ms. Allen said the zoo plans to launch an aggressive marketing campaign that will include radio, television, print and outdoor advertising, though she noted the final cost of the campaign hadn’t yet been nailed down,
“The marketing team is aware of life after elephants,” Ms. Allen said. “We know that the exhibit has great legs, but the marketing plan does include a lot of attention to marketing following the grand opening.” For institutions such as the zoo, the Cleveland Museum of Art or Rock or Roll Hall of Fame and Museum, changing their offerings is an important element of keeping their spaces fresh. The art museum, for one, rotates pieces in its permanent galleries and brings in several exhibitions throughout the year so that each visitor “has new experiences every time they come,” said Caroline Guscott, a museum spokeswoman.
Peter Klein Mark Koenig managing directors
Daniel E. Klimas president, CEO
RESEARCHED BY Deborah W. Hillyer
Now that the major elephant project is nearing completion, zoo officials are putting together a new strategic plan to guide the organization over the next five or 10 years. The strategic plan will focus on redefining the zoo’s mission, identifying its longterm vision and establishing a master plan for the zoo’s facilities. Mr. Taylor said he expects the plan to be finalized over the next few months for a roll-out to the public this summer. It likely won’t include specific details for additional blockbuster projects, but it would lay out possibilities for renovations. Another key element of the strategic plan will be to identify possible new revenue opportunities, Ms. Allen said. For example, the zoo may explore the idea of charging for parking. ■
American Red Cross of Greater Cleveland Business Continuity Seminar Thursday, April 28, 2011
Pre-registration is required: 216.431.3076
The American Red Cross of Greater Cleveland 3747 Euclid Avenue Cleveland, OH 44115 (free, secure on-site parking)
(Offering ID: 00495845) $39 each participant will receive a copy of the Guide to Business Continuity Planning CD (a $50 value).
For more information visit www.redcross-cleveland.org
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