Leadership
  • Michael J. Stafford, Jr., CFA
    Managing Director, Director of Fixed Income Investments
    • Mr. Stafford is Managing Director and Director of Fixed Income Investments for ASB Investment Management. He has 30 years of experience in the institutional investment business, including serving as the Chief Investment Officer of The St. Paul’s (now Travelers) life insurance subsidiary. Mr. Stafford is a CFA charterholder, a past president and director of The Baltimore Security Analysts Society, and has taught investment analysis in the MBA program at Johns Hopkins University. He is a trustee of the Maryland State Retirement System, and serves on the board of the Charlestown Retirement Community. Mr. Stafford is a graduate of Georgetown University and earned an MBA from Loyola Maryland University.

  • Spencer C. Smith
    Managing Director, Director of Equity Investments
    • Mr. Smith is Managing Director and Director of Equity Investments for ASB Investment Management. He also serves as Head of Institutional Equity Investments for Chevy Chase Trust, ASB’s affiliate. Prior to joining ASB/Chevy Chase Trust, Mr. Smith was Managing Director, Portfolio Manager and co-head of the Washington D.C. office of Fiduciary Trust Company International. Before that, Mr. Smith was an investment professional at Morgan Stanley, Emerging Markets Management LLC, and Riggs Investment Management Corporation. Mr. Smith earned a Master of Business Administration from the Yale School of Management where he was selected by David Swensen to work as a Yale Endowment Fellow. A Fulbright Scholar, Mr. Smith studied abroad at the Budapest University of Economic Sciences. He also earned a Master of Arts from The George Washington University Elliott School of International Affairs. Mr. Smith earned his undergraduate degree from the University of Oregon where he graduated Phi Beta Kappa and cum laude

  • Darryl Keeton, CIMA®
    Director, Head of Client Service
    • Mr. Keeton has over 20 years of experience in direct sales and sales leadership roles within the financial services industry. He is responsible for the sales, marketing, and client service of ASB Capital Management’s equity and fixed income offerings. Most recently he served as Head of Distribution for Homestead Funds in Arlington, VA. Before that, he worked as a Director for Calvert Investments where he was responsible for cultivating and advising a sales approach for the internal and external sales efforts. Earlier in his career Darryl held various roles at Neuberger Berman including Regional Director, National Sales Manager and Head of the Fiduciary Solutions Group. He earned his B.S. in business administration from the University of Maryland Eastern Shore. He holds FINRA Series 6, 63, 7, 24 and 51 licenses and has earned the Certified Investment Management Analyst designation from the Investment & Wealth Institute.

  • Lynn M. Panagos
    Chief Operations Officer
    • Ms. Panagos is Chief Operations Officer of ASB Investment Management. In 1999, Ms. Panagos joined affiliated firm Chevy Chase Trust, for which she serves as Chief Operating Officer, oversees the Client Services Group, and is involved with the firm’s strategic planning. Ms. Panagos spent 12 years at SunTrust Bank where she served as Vice President and Manager of the Institutional Trust Department of the Washington, DC office. In 1996, she was directly responsible for coordinating all aspects of the Crestar Bank Trust Department merger with Citizens Bank of Maryland. Ms. Panagos has 30 years of experience in the financial services industry and attended Pennsylvania State University.

  • Paul R. Duncan
    Vice President and Chief Compliance Officer
    • Mr. Duncan is responsible for designing compliance policies, procedures, and internal controls. He also monitors compliance issues related to the Investment Adviser’s Act of 1940, ERISA, US Patriot Act, Sarbanes-Oxley, fiduciary laws, and privacy regulation. Mr. Duncan has 19 years of compliance and audit experience in the securities, fiduciary, and banking industries, including positions with Chevy Chase Trust, Chevy Chase Bank, and Dauphin Deposit and Trust Company. He is a cum laude graduate of both Albright College, where he earned an accounting degree, and George Mason University, where he earned an MBA. In addition to being a Certified Public Accountant, Mr. Duncan is a Certified Internal Auditor and a Certified Fiduciary and Investment Risk Specialist.

  • Robert W. Eubank
    Research Analyst, and Member, ASB Equity Council
    • Mr. Eubank conducts company research in the Industrials, Energy, Technology hardware, and Materials sectors. Prior to joining ASB, he performed equity research analysis at Blue Point Investment Management and financial planning at Heritage Financial Consultants. He has 6 years of investment management experience. Mr. Eubank graduated summa cum laude from Towson University, where he was Portfolio Manager for the actively-managed equity fund of the Towson University Investment Group. Mr. Eubank is a candidate for the Chartered Financial Analyst designation and a member of the ASB Equity Council.

  • Carlton Davis
    Vice President, Fixed Income Trader and Portfolio Manager
    • Mr. Davis is a fixed-income trader and portfolio manager for Chevy Chase Trust, an affiliate of ASB Investment Management. Previously, he was an Assistant Vice President and fixed-income trader at Chevy Chase Trust. In the interim, he was an institutional fixed-income trader at Liberty Mutual Investments in Boston, focusing primarily on municipals, credit, and interest rates. Earlier in his career, Carlton worked at T.Rowe Price in Baltimore. He graduated from Miami University with a B.S. in Finance.

  • Garrett Collier
    Fixed Income Associate
    • Mr. Collier is a fixed income associate at Chevy Chase Trust, an affiliate of ASB Investment Management. His responsibilities include research, trading, and portfolio management. Prior to joining Chevy Chase Trust, he worked as a credit analyst at United Bank. Garrett graduated from Denison University, where he earned a Bachelor of Arts in Economics and played on the men’s basketball team.

  • Craig Pernick
    Managing Director and Chairman, ASB Fixed Income Council
    • Mr. Pernick is Chairman of the ASB Fixed Income Council. He is also Senior Managing Director and Portfolio Manager of Chevy Chase Trust, an ASB Investment Management-affiliated investment management firm. Mr. Pernick has 33 years of experience in the fixed income business, with special knowledge of municipal and corporate bond analysis and trading. He was with institutional fixed income firm R.W. Corby and Co. for 16 years before joining Asset Management Investment Advisers as a portfolio manager in 1999. He joined Chevy Chase Trust when it purchased Asset Management in 2005, and took responsibility for the firm’s fixed income management at that time. Mr. Pernick is a graduate of the University of Michigan, where he earned a Business Administration degree. He earned a Masters in Business Administration, with a concentration in Finance, from Wayne State University.

  • Justin S. Liberti, CMT
    Director
    • Mr. Liberti performs technical analysis and support for the research and portfolio management team. He is the portfolio manager of the ASB Labor Equity Index and IBEW-NECA Index Funds. He is also the principal equity trader. Prior to joining Chevy Chase Trust, he worked as a Financial Advisor with PNC Investments and Ameriprise Financial Services. Mr. Liberti is a graduate of West Virginia University.

  • Amy P. Raskin
    Member, ASB Equity Council
    • Ms. Raskin is a member of the ASB Equity Council. She is also Chief Investment Officer and Senior Managing Director of Chevy Chase Trust, responsible for leading the development and oversight of Chevy Chase Trust’s investment strategies, process, and execution. Previously, as Senior Vice President at AllianceBernstein in New York, Ms. Raskin served as Director of Thematic Research, head of US & Global Growth Equity Research, Chief Investment Officer of the AllianceBernstein Venture Capital Fund, and leader of AllianceBernstein’s Research on Strategic Change group. Ms. Raskin was with AllianceBernstein for 13 years. Earlier, she worked as an investment banker at Lehman Brothers and as a research analyst at Donaldson, Lufkin & Jenrette and Lehman Brothers. Ms. Raskin graduated from the University of Pennsylvania’s School of Engineering and Applied Science with a major in Engineering and a minor in Management from the Wharton School.

  • Edward B. Dobranetski, CFA
    Member, ASB Equity Council
    • Mr. Dobranetski is a member of the ASB Equity Council. He is also Managing Director and Portfolio Manager of Chevy Chase Trust, an ASB Investment Management–affiliated investment management firm. He has 25 years of investment experience, encompassing trading, analysis, and portfolio management. Mr. Dobranetski previously was a portfolio manager with BB&T Asset Management. He is a graduate of Grove City College and is a CFA charterholder.

  • Christine M. Wallace
    Member, ASB Equity Council
    • Ms. Wallace is a member of the ASB Equity Council. She is also Managing Director and Portfolio Manager of Chevy Chase Trust, an ASB Investment Management–affiliated investment management firm. Ms. Wallace has been named to the list of the Top 100 Women Financial Advisers in the United States by the Financial Times. Prior to joining Chevy Chase Trust, she was a portfolio manager at U.S. Trust, where she worked for 15 years in its New York and Washington, D.C. offices. Ms. Wallace is a graduate of Holy Cross College and earned an MBA, with a concentration in Finance, from George Washington University.

  • Duna Hur
    Vice President and Equity Trader
    • Ms. Hur is part of the equity trading desk on the portfolio management team at Chevy Chase Trust. She is also Assistant Portfolio Manager at ASB Capital Management, an affiliate firm. Prior to joining Chevy Chase Trust, she worked as Senior Equity Trader at Columbia Partners, L.L.C. Investment Management.