Steve Johnson, CFA brings to Adherence Capital Management the same conservative investment philosophies used while Apple's investment subsidiary, Braeburn Capital, Inc., grew over $100 billion in just five years.
Steve Johnson, CFA
Online PR News – 20-August-2013 –Adherence Capital Management is an emerging Los Angeles boutique investment management firm built on the co-founders' record of using disciplined investment strategies to preserve capital and build wealth. Steve, most recently the chief investment officer (CIO) of Apple's Inc.’s wholly owned investment subsidiary, Braeburn Capital, Inc., has partnered with Mark Lewis, former managing director and principal at Wilshire Associates. Together, they combine over 40 years’ experience, both buy-side and sell-side, leading businesses, institutions, governments and high net worth investors to prudently grow portfolios.
Johnson and Lewis both believe in careful data-driven decision making in adherence to a disciplined approach to investing. Careful calculation of a client's risk tolerance, and then measuring and understanding portfolio risks are the basis for the client-adherent portfolios Adherence Capital crafts.
“At Apple, everyone needed to bring data, not just opinions,” Steve Johnson said. “Nobody wanted that 3 AM phone call from Steve Jobs. It seems to me that any number of individuals and organizations would benefit if they adhered to this kind of discipline.”
Johnson brings a distinguished background to Adherence Capital Management. Between 2007 and 2012, Johnson led Braeburn Capital's consistent growth during turbulent times in global financial markets. From a one-person operation in charge of $13 billion, Johnson managed the growth of Apple's investment management firm into a $113 billion enterprise with a staff of five. Braeburn Capital managed Apple's cash, short-term and long-term investments.
“In my opinion, Steve Job’s greatest design was how he designed Apple itself,” Johnson said. “The company was taking plenty of risk on the product side so we kept the investment portfolio pristine. The number one rule was ‘never invest in something you don't understand.’ Each risk had to be measured and explained. In some cases we would study an investment for more than a year before we would pull the trigger. I’m excited to bring some of those same risk-management skills from the board room to main street.”
Prior to Apple, Johnson was chief investment officer (CIO) for the City of San Diego, managing operating funds and bond proceeds for America's seventh largest city.
As a managing director for the investment management, consulting, and technology firm Wilshire Associates, Mark Lewis managed the fixed-income analytics business development and client relations teams in Santa Monica, Chicago, New York, London and Singapore. Wilshire's clients included central banks, mutual funds, hedge funds, state retirement boards, universities and governments.
At Adherence Capital Management (www.adherencecapital.com) the co-founders have unique experience in a complex global market, and they conduct rigorous daily research using the same robust risk management tools used by Fortune 50 companies. The resulting investment strategies are tailored for clients who seek diversified all asset investment portfolios, institutions seeking fixed income portfolio management and advice , or individuals wanting tax-exempt municipal bond portfolios.
Adherence Capital Management is an asset management firm that serves individuals, family offices, and institutions. Adherence is built upon a foundation of solid risk management principles that have withstood the test of time. We provide prudent, broadly diversified portfolios based on the same rigorous processes used at Fortune 50 companies.