A UNIFIED TEAM,
HIGHLY FOCUSED ON
Client Satisfaction
Working closely together and experiencing minimal turnover across over 30 years of business, our experienced and seasoned team provides tremendous stability for our clients to confidently pursue their long-term objectives.
Grady Durham founded Monticello Associates in 1992. He leads the firm’s efforts in the areas of asset allocation, investment policy development, investment manager evaluation, and performance measurement.
A frequent speaker around the country on topics related to asset management consulting, Grady has been a requested contributor to The Wall Street Journal and Barron’s. He is a former member of the Investment Committee of the Atlantic Foundation, one of the world’s largest private foundations; a member of the Investment Committee at Corpus Christi College, Oxford University; and a former Trustee of The Thomas Jefferson Foundation, where he served as Chairman of the Investment Committee.
In addition, Grady is a past Trustee of The Denver Art Museum and a past Trustee of the University of Virginia College of Arts & Sciences Foundation. He is currently a member of the Board of Trustees of the United States Ski and Snowboard Foundation, where he serves as a Vice President, and The Gilder Lehrman Institute of American History.
Grady graduated with distinction in Economics from the University of Colorado, with additional studies in International Finance at City University in London. He is a Foundation Fellow of Corpus Christi College and was selected to become an Emeritus Trustee of the Thomas Jefferson Foundation. In 2008, he was selected to be a commencement speaker at the University of Colorado.
Amanda Adams is a Managing Director at Monticello Associates. She joined the firm in 2006 and is located in the Denver office.
In her current role, Amanda serves as the firm’s Director of Research. Her primary responsibilities include oversight of the Research Department and manager due diligence, with a concentration on absolute return funds. She is also a member of the Manager Review Committee, which meets weekly to assess new investment strategies and review existing managers.
Previously, Amanda served as the Compliance Officer for TAMRO Capital Partners, an investment manager focused on long-only U.S. equities investments. Prior to that, Amanda was employed by The Motley Fool, a global multi-media financial education company, where she worked in the firm’s Editorial Department.
Amanda holds an MBA from the Darden School of Business. Prior to that, she earned a Bachelor of Arts degree in English from the University of Virginia. She currently serves as a member of the Investment Committee for the Madeira School.
Donavan Brown is a Vice President at Monticello Associates. He joined the firm in 2023 and is located in the Boston office.
His primary responsibilities include advising clients, investment manager research, and asset allocation.
Prior to joining Monticello, Donavan spent fourteen years at Brown Brothers Harriman in a variety of roles across their investor services and capital markets businesses. There, he was responsible for mutual fund clients and exchange-traded fund sponsors in addition to helping institutional clients gain access to international markets. He also served as global co-chair for the firm’s Black Affinity Network.
Donavan holds a Masters in International Business from the Fletcher School at Tufts University, where he also earned a Bachelor of Arts degree in Economics. Donavan sits on the Board of Directors for the Steppingstone Foundation, a program that aims to prepare students from historically marginalized communities to access, navigate, and graduate from college. He serves as a Trustee and member of the Investment Committee at his alma mater, Thayer Academy. Additionally, he co-chairs the President’s Advisory Council at Western New England University and sits on the Board of Advisors at the Museum of Fine Arts in Boston.
Monty Cleworth is a Senior Advisor at Monticello Associates. He joined the firm in 1997 and retired as a Managing Director in 2023.
In his current role, he is an active advisor and mentor to the firm’s research and consulting teams.
Prior to joining the firm, Monty was a Managing Director and Senior Vice President in charge of the investment advisory department at Hanifen, Imhoff Inc., the largest investment bank headquartered in the Rocky Mountain region. Previously, he was a portfolio manager at Founders Asset Management and Vice President at First Boston Corporation.
Monty holds an MBA from the Stanford Graduate School of Business. Prior to that, he earned a Bachelor of Arts degree in Economics from Amherst College. Monty has passed FINRA Series 3, 5, 7, 24, and 63 securities exams, and has earned the designation of Chartered Financial Analyst (CFA). Additionally, he is on the Board of the Denver Museum of Nature and Science.
Chrissy Costello is a Vice President at Monticello Associates. She joined the firm in 2007 and is located in the Denver office.
Her primary responsibilities include client relationship management and manager research, as well as due diligence procedures for international and emerging market equity managers.
Chrissy began her career at Monticello as a Performance Analyst. In 2014, she transitioned to manager research, where she focused on international and emerging market managers. In 2022, her responsibilities expanded to include client relationship management.
Chrissy earned her MBA from the University of Colorado at Denver. Prior to that, she graduated with a Bachelor of Science in Finance from the Leeds School at the University of Colorado at Boulder.
Adler da Cunha is a Vice President at Monticello Associates. He joined the firm in 2003 and is located in the Denver office.
His primary responsibilities include macroeconomic-related research and special projects, preparing market reviews, and supporting consultants with market data and insights.
Adler joined Monticello upon graduating from college and began his career as an Investment Analyst, responsible for quantitative analysis of investment funds and supporting more senior analysts. He was promoted to Senior Investment Analyst, in which role he worked closely with consultants, as well as on special projects. In his current position as Vice President, Adler oversees all of Monticello’s macroeconomic research.
Adler is currently pursuing an M.A. in Economics at the University of Denver. Prior to that, he earned a B.S. degree from Colorado State University with a major in Business. Adler is fluent in Portuguese.
Chris Doyle is a Managing Director at Monticello Associates. He joined the firm in 2012 and is located in the Cleveland office.
Chris has a dual role within Monticello, which includes both consulting and research. His primary responsibilities include managing client relationships, and manager search and due diligence procedures.
Prior to joining Monticello, Chris was a Vice President at KeyBanc Capital Markets in Chicago, IL. He was responsible for raising capital for corporate banking customers in the primary fixed income market, as well as conducting industry-level due diligence and research. Chris managed client accounts in the secondary market providing fixed income products including corporate bonds, agencies, treasuries, mortgages, municipals, preferred stock and credit derivatives. Prior to that, Chris was an accountant in the Corporate Finance Department of Aon Risk Services in Glenview, IL.
Chris received his MBA from the University of Chicago, Graduate School of Business with concentrations in Finance and Entrepreneurship. Prior to that, he earned a Bachelor of Science from Miami University in Oxford, OH with a major in Finance. Chris serves as a member of the Board of Trustees at Urban Community School, where he chairs the Investment Committee.
Eric Duffy is a Vice President at Monticello Associates. He joined the firm in 2003 and is located in the Denver office.
In his current role, Eric serves as the firm’s head of Private Equity. He is responsible for all private equity / real asset manager search and due diligence.
Previously, Eric served as the Treasury Manager for the University of Colorado Foundation, where he was responsible for managing the Endowment Investment Operations, Treasury Department, and Charitable Trust Administration. Prior to that, Eric was an Analyst with Langhoff Brooks & Company, a Denver-based Investment Advisor that served local governments.
Eric earned a B.S. degree from Nebraska Wesleyan University with a major in Finance.
Milgo Galaydh is a Director at Monticello Associates. She joined the firm in 2023 and is located in the Washington, D.C. office.
Her primary responsibilities include client relationship management, investment manager research, and asset allocation.
Prior to joining Monticello, Milgo was a Managing Director at Cambridge Associates, where she advised Endowment and Foundation clients on the construction of private investment portfolios. Additionally, she conducted due diligence on private equity and venture capital funds. Previously, Milgo was at Albright Capital Management (ACM), where she spent a decade leading the emerging markets corporate credit strategy with responsibility for sourcing, researching, and executing investments. She also led credit-oriented Special Situations investments and was a voting member of the ACM Investment Committee.
Milgo graduated from the University of Virginia with a Bachelor of Science degree in Commerce. She has earned the designation of Chartered Financial Analyst (CFA).
Steven Halvorsen is a Managing Director at Monticello Associates. He joined the firm in 1995 and is located in the Denver office.
His responsibilities include maintaining client relationships, evaluating investment managers, and asset allocation. Steven was previously responsible for oversight of the firm’s due diligence and client reporting functions.
Prior to joining Monticello, Steven was the Director of Manager Search and Due Diligence for Denver-based Portfolio Management Consultants, Inc. He began his career as an investment analyst for Kemper Securities Group.
Steven graduated from Babson College in Wellesley, Massachusetts with Bachelor of Science degrees in finance/investments and in economics. He has earned the designation of Chartered Financial Analyst (CFA).
Brian Harrigan is a Managing Director at Monticello Associates. He joined the firm in 2008 and is located in the Cleveland office.
His primary responsibilities include maintaining client relationships, evaluating investment managers, and implementing portfolio construction. Brian has expertise in opportunistic credit, private equity, and hedge fund manager research. He is also a member of the Manager Review Committee, which meets weekly to assess new investment strategies and review existing managers.
Prior to joining Monticello, Brian was an Assistant Vice President and Audit Manager at Harris Bank in Chicago, IL. He was responsible for running audits for business units within the bank that possessed investment management capacity, including the Harris Investment Management Company, which managed $20 billion in assets across funds and separately-managed accounts.
Brian received his MBA from the University of Chicago, Graduate School of Business with concentrations in Analytical Finance, Accounting, and Statistics & Econometrics. Prior to that, he earned his Bachelor of Science degree from Miami University in Oxford, Ohio with majors in Finance and Accounting. Brian is a Certified Public Accountant (CPA - Inactive) and a Chartered Financial Analyst (CFA), and is currently a member of the CFA Institute and CFA Society of Cleveland.
John Harvan is a Managing Director at Monticello Associates. He joined the firm in 2013 and is located in the Cleveland office.
His primary responsibilities include managing client relationships, manager research, and investment due diligence. John has particular expertise in private equity, including secondary, growth equity, venture, and buyout investments. He is also a member of the Manager Review Committee, which meets weekly to assess new investment strategies and review existing managers.
Prior to joining Monticello, John was a Senior Analyst at Nuveen Investments in Chicago, IL as part of their Global Structured Products group. He was responsible for the creation, launch, and sale of private and exchange-traded vehicles and executed refinancing activities for leveraged closed-end vehicle structures.
Prior to his role at Nuveen, John was an Analyst at HSBC North America as part of their Financial Graduate Development Program. There he was on the Treasury – Debt and Derivatives desk responsible for interest rate, swap transaction, and retail note monitoring.
John earned his MBA at the University of Chicago, Booth School of Business. Prior to that, he earned his BBA in Finance from the University of Notre Dame along with an International Business Certificate in 2009. John has earned the designation of Chartered Financial Analyst (CFA) and is an active member of the CFA Institute.
Wes Hays is a Managing Director at Monticello Associates. He joined the firm in 2015 and is located in the Washington, D.C. office, which he founded and leads.
His primary responsibilities include maintaining client relationships and assisting in the manager evaluation and search process.
Prior to joining Monticello, Wes was a Managing Director at Charles Schwab & Co where he was responsible for fixed income risk management and the equity syndicate desk. He spent the previous seven years in research, trading, and operations roles at Graham Capital Management, a global macro hedge fund in Connecticut.
Wes was awarded an MBA from the Daniels School of Business at the University of Denver. Prior to that, he earned a Bachelor of Arts degree in Economics from Washington and Lee University. Wes is a Trustee of the Washington Episcopal School and a member of their Finance and Investment Committees. He is also a member of the Finance and Investment Committees for the Loyola Blakefield School.
Bill Howard is a Managing Director at Monticello Associates. He joined the firm in 2017 and is located in the Denver office.
He is primarily responsible for managing client relationships and contributing to the firm’s manager evaluation and search process.
Prior to joining Monticello, Bill was a Senior Vice President at Callan LLC where he was responsible for delivering asset management consulting services to institutional investors including endowments, foundations, and family offices. Previously, Bill was a research analyst for Pritchard Investment Management, an investment manager specializing in factor-based equity strategies.
Bill earned an MBA from the University of Denver. Prior to that, he earned a Bachelor of Arts degree in Economics from Vanderbilt University. He has earned the designation of Chartered Financial Analyst (CFA) and is a member of the CFA Society of Colorado. Currently, Bill is a Trustee at St. Anne’s Episcopal School and Chairman of the Investment Committee.
Joe Krawczak is a Managing Director at Monticello. He joined the firm in 2017 and is located in the Cleveland office.
His primary responsibilities include managing client relationships, manager research, and investment due diligence.
Prior to joining Monticello, Joe was a Senior Analyst at Zelman Capital, a long/short equity hedge fund. At Zelman, his primary responsibility was conducting fundamental research on small- and mid-cap public equities. He was relied on to monitor existing portfolio holdings and present actionable investment ideas within his assigned coverage areas.
Prior to Zelman, Joe was an Equity Analyst at Longbow Research, where he was responsible for conducting investment due diligence on industrial and basic materials stocks. This included meeting with management teams, maintaining financial models, publishing sell-side research reports, and disseminating investment ideas to the firm’s clients.
Joe earned his B.S. in Finance and Economics from the University of Dayton. He has earned the designation of Chartered Financial Analyst (CFA) and is an active member of the CFA Institute and CFA Society of Cleveland.
Andrew Kriete is a Vice President at Monticello Associates. He joined the firm in 2021 and is located in the Denver office.
His primary responsibilities relate to technology, specifically deployments, data management, and analytics production in support of manager research. He also provides client portfolio analytics and coordinates special research requests. In addition, Andrew supports investment due diligence where emergent technology is central to a strategy’s success. He also supports and oversees the firm’s research in cryptocurrencies and blockchain technologies.
Previously, Andrew spent five years as an investment analyst at a family office in Ohio where he served in a dual role, helping with investment manager research and investment operations. During this time, Andrew taught himself to code and built applications supporting workflow automation for the office’s investment reporting and accounting functions. Before launching his career in finance, Andrew taught and played squash professionally.
Andrew received a B.A. in Religious Studies from Amherst College and was a recipient of the college’s Moseley Award for his thesis work.
Nate Mease is a Vice President at Monticello Associates. He joined the firm in 2016 and is located in the Denver office.
His primary responsibilities include manager research and due diligence for private credit and real estate managers.
Prior to joining Monticello, Nate was an Investment Manager with Seattle Children’s Hospital. He was responsible for covering a broad range of asset classes and investment managers, in addition to overseeing asset allocation and a variety of other projects. Previously, Nate was an investment analyst for Davidson College.
Nate earned his Masters in Investment Management from Boston University. Prior to that, he graduated with a B.A. in Chemistry from the University of North Carolina in Chapel Hill. John has earned the designation of Chartered Financial Analyst (CFA) and is currently an active member of the CFA Institute and the CFA Society of Colorado.
Kevin Notaro is a Vice President at Monticello Associates. He joined the firm in 2023 and is located in the Denver office.
His primary responsibilities include manager research and due diligence for hedged equity managers.
Prior to joining Monticello, Kevin was an Investment Manager for the Teacher Retirement System of Texas, where he was responsible for a wide range of strategies within the External Public Markets division. Kevin was previously an Investment Manager covering hedge funds and global equities with the Texas Municipal Retirement System, an Austin-based public pension, following a career as a hedge fund analyst for Aetna Capital Management.
Kevin earned a B.B.A. degree from Stetson University with a major in Finance.
Erika Olson is a Vice President at Monticello Associates. She joined the firm in 2019 and is located in the Denver office.
Her primary responsibilities include manager research and due diligence procedures for domestic equity managers, as well as oversight of the firm’s ESG and Diversity, Equity, and Inclusion (DE&I) efforts.
Prior to joining Monticello, Erika was a Manager at The Walt Disney Company in Burbank, CA. She was responsible for overseeing the public markets portfolio for Disney’s $12B DB plan. Earlier in her career, Erika served in a number of roles at Cambridge Associates, including Associate Consultant, where she was responsible for hedge fund manager research in addition to delivering asset management consulting services to institutional investors.
Erika received an MBA from the Yale School of Management. Prior to that, she earned a BS in Finance from the University of Maryland, College Park.
Jeff Sletten is a Managing Director at Monticello Associates. He joined the firm in 2006 and is located in the Denver office.
He is primarily responsible for maintaining client relationships, but also assists in overseeing the firm’s private equity and venture capital activities. Jeff is involved in the manager evaluation and search process.
Prior to joining Monticello, Jeff was a senior member of the investment team at The Hillman Company in Pittsburgh, PA, one of the foremost family offices in the country. There he specialized in private equity and managed a large and highly successful portfolio of domestic and international investments. He also served on the advisory boards of certain Hillman-backed companies in both the technology and services industries.
Jeff previously served as a Vice President with PNC Financial, where he financed numerous venture-backed technology companies, invested in venture capital funds, and provided M&A, valuation, and private placement advisory services to the bank’s mid-market customers.
Jeff earned an MBA from the Thunderbird School of Global Management. Prior to that, he earned a Bachelor of Arts degree from Gustavus Adolphus College.
Pat Sullivan is a Senior Managing Director at Monticello Associates. He joined the firm in 2003 and is located in the Cleveland office, which he founded and leads. He is also a member of the firm’s Management Committee.
In his current role, Pat conducts investment manager research and advises foundation, endowment, and family office clients. Pat is focused on client portfolio management, investment manager evaluation, and firm management. He is also a member of the Manager Review Committee, which meets weekly to assess new investment strategies and review existing managers.
Before joining Monticello, Pat served as President of Parkwood Trust Company, a Delaware-chartered, private bank. There he was responsible for all aspects of investment management across asset classes, together with family office management, including complex tax and estate planning for high net worth families, family governance, and succession planning.
He previously served on the Board of Directors of Premier Farnell PLC, a London-based, publicly-traded, New York Stock Exchange and London Stock Exchange company. He began his career in Cleveland as a corporate and restructuring lawyer for Jones Day, where he focused on capital restructurings, mergers and acquisitions, and bondholder representation.
Pat is a magna cum laude graduate of Miami University, with a degree in economics. He received his law degree from the University of Texas School of Law, where he was an honors graduate and Order of the Coif recipient.
Pat served as a member of the Business Advisory Council of the Farmer School of Business at Miami University, and has also served as a guest lecturer on investment management at Miami University and at the College of Wooster. He is the immediate past Chairman of the Investment Committee of St. Ignatius High School in Cleveland; and is also a member of the Board of Trustees and Investment Committee Chairman of the Three Arches Foundation; a member of the Advancement Committee of St. Martin de Porres High School; a member of the Advisory Council of the West Side Catholic Center; and a past Chairman of the Board of the Sisters of Charity Foundation.
Andrew Terborgh is a Senior Managing Director at Monticello Associates. He joined the firm in 2012 and is located in the Boston office, which he founded and leads. He is also a member of the firm’s Management Committee.
In his current role, he conducts investment manager research and advises foundation, endowment, and family office clients. Andrew joined Monticello Associates as Director of U.S. Equity Research, where he oversaw the firm’s U.S. Equity asset class research and manager due diligence. He is a member of the Manager Review Committee, which meets weekly to assess new investment strategies and review existing managers.
Prior to joining the firm, Andrew was an equity research analyst at Dodge & Cox, where he supported the firm’s domestic and international strategies. In addition, he worked in corporate finance and strategy at Accellent, Inc, a medical device manufacturer owned by Bain Capital and KKR & Co.
Andrew holds an MBA from the Stanford Graduate School of Business. Prior to that, he earned a Bachelor of Arts degree in Economics from the University of California at Berkeley and a Master of Science in Economic History from the London School of Economics & Political Science. Andrew has earned the designation of Chartered Financial Analyst (CFA) and is a member of the CFA Society Boston.
Kevin Zimmerman is a Managing Director at Monticello Associates. He joined the firm in 2001 and is located in the Denver office.
His primary responsibility is managing client relationships. In addition, Kevin works on complex family office and endowment & foundation portfolios, including prep schools and universities; private family foundations; museums and other cultural institutions; and hospitals and other healthcare-related institutions. He is also a member of the Manager Review Committee, which meets weekly to assess new investment strategies and review existing managers.
Prior to joining Monticello, Kevin was a financial consultant with Sagemark Consulting in Denver, where he was responsible for providing comprehensive financial planning and analysis to high net worth investors. Previously, Kevin was a Vice President at Chase Manhattan Bank, where he directed the strategic planning efforts for the bank’s domestic cash management business.
Kevin earned his MBA degree from Columbia University. Prior to that, he earned a Bachelor of Arts degree in political science from Colgate University and serves as a member of the school’s Alumni Council. Kevin is also a member of the Investment Committee for his alma mater, St. Albans School in Washington, D.C.