Building, growing and protecting, our Firm’s unique name serves as the backdrop and tribute to our proud lineage. ‘CANTON’ is derived from the first real estate investment firm established by Jim’s parents, Armand & Eve Procaccianti, and ‘HATHAWAY’ stems from the legendary global company whose origins trace back to the early 1800’s and four generations of the Chace Family.
The simple mission to be aligned, conflict free and steadfast in the risk management of assets that are entrusted to us.
We believe a rules-based, disciplined approach is essential to being good fiduciaries, and is evident in all aspects of our process.
Trusted, aligned team with over 110 years of collective investment experience.
The partners of the firm are invested in the same strategies and securities as clients.
As a boutique investment firm, clients are given full access to portfolio managers, partners and all resources of the firm.
Disciplined, model-based investment management process.
Hyper focused on cost, utilizing only the lowest cost investment products and structures.
Full transparency with detailed performance and risk reporting.
Access to alternative investments.
Our proprietary models are time tested across multiple cycles. Our head of equity research, Ken Goodreau, employed these strategies with great success during his tenure as CIO of the $8 billion RI employees’ pension fund.
Portfolios are customized for each individual client, per their investment policy statement, however risk management rules apply to everyone. Risk management is paramount to capital preservation so when our models signal to reduce risk, we reduce risk for everyone.
As a boutique investment firm, we strive to deliver the highest level of service to our select group of clients. While investment management is our core competency, we work closely with our client’s other financial professionals to optimize their asset allocation.
We listen to the message coming from the building blocks of the economy.
Sectors and Industries give us signals to add or reduce exposure.
If a sector is green, we want exposure. The positive signal also allows us to seek satellite positions in specific industries. If the sector is Red we will not look for a good house in a bad neighborhood and the allocation will default to short term bonds.
For example, if the Healthcare sector is green we will get exposure to the broad group. This signal also allows us to look for satellite positions in industries such as Biotech for example. These industries also need to be registering green and will be smaller positions.
How? Manage risk by using principles.
Markets do trend over the long term • Every major market correction and economic recession has been led by industry deterioration.
By listening to the message of the sector components of the market, we can better manage risk and opportunity.
History doesn’t repeat itself, but it does tend to rhyme.
Malcolm G. Chace Jr. is a co-founder and the Managing Partner of the firm. Malcolm graduated from Colby College with a BA in Economics and History in 1990. He has been an investment professional and portfolio manager for over 20 years, starting at Scudder, Stevens & Clark in Boston and later working at the Providence Investment Advisory Group. In 1999 Malcolm helped start the Providence office for Baldwin Brothers, Inc., managing over $500 million in assets for high net worth individuals and institutions. In 2008 he joined Oppenheimer & Co. Inc. as a Managing Director and Portfolio Manager and most recently was a Portfolio Manager at WhaleRock Point Partners, LLC. Malcolm is a board member of The Providence Center, Meeting Street School, and Dromoland Castle (Ireland). He is an overseer at Colby College, and serves on the Investment Committee at Sophia Academy.
Nicholas G. Trotman is a co-founder and Managing Director of the firm. Nick graduated from Tufts University in 1994 and received his MBA from Columbia Business School in 2000. After business school, he worked as an analyst at a Boston-based research boutique covering Technology and Business Services. He then went on to co-manage several long/short equity strategies, an equity income strategy, and several fixed income strategies. Most recently, he was Head of Fixed Income at WhaleRock Point Partners, LLC. Nick brings investment expertise across a broad range of asset classes to the team at Canton Hathaway.
Meghan Crudele is Office Business Manager at the firm. Prior to joining Canton Hathaway, Meghan worked for several years at a global payment services and foreign exchange company. She graduated summa cum laude from Johnson & Wales University with a bachelor’s degree in finance and has completed some postbaccalaureate coursework in Financial Planning at Bryant University. Meghan has a vast knowledge of the financial industry and brings this expertise to Canton Hathaway.
Vincent Izzo had a thirty-year career in the RI General Treasurer‘s Office in various capacities, most notably as Investment Accounting manager and Cash Manager. As Cash Manager, Mr. Izzo modernized the cash management and investment processes. He created and developed the Cash Flow model, to ensure the timely availability of funds to meet the State’s obligations, and to allow the State to maximize duration and investment return. These tools were extremely valuable in managing through the financial crises. The team did not lose one dollar during this time. Also, Mr. Izzo expanded the State’s short-term portfolio, by adding vendors and new instruments. Building upon this, He helped obtain authority for and to establish the Ocean State Investment Pool currently used by the State and municipalities. He holds a BS in Accounting from Providence College.
Kenneth E. Goodreau is a co-founder and Managing Director of the firm. Ken graduated from the University of Rhode Island with a BS in Business Administration. Since graduating he has spent the entirety of his career in the investment business, starting as a research analyst, moving to portfolio management and then the Chief Investment Officer role. Ken was the Chief Investment Officer of the $8 billion Rhode Island employees’ pension fund (ERSRI). Following his success at the state pension, he became the CIO of two hedge funds and most recently worked as Director of Research at WhaleRock Point Partners, LLC. At Canton Hathaway, we leverage Ken’s experience as an asset allocator and risk manager across all portfolios.
Mr. Cusack is the Chief Financial Officer of EMB, LLC, the family office for members of the Chace family. At Canton Hathaway he is a member of the Investment Committee and routinely is involved in reviewing alternative investments. He also provides insight and strategic investment guidance to the Managing Partner. Mr. Cusack has been an investment professional for over 40 years, beginning in municipal investment banking in New York City, later in institutional and private client investment portfolio management in Boston and Rhode Island. He has been an advisor to a 5-star municipal bond fund, a trustee of a public pension fund, and led $1 billion of securitizations for the State of Rhode Island by appointment of the Governor. He holds a BA from Fordham University and did graduate study at the Tuck School of Business at Dartmouth.
Anthony C. Marcello III is head of business development for the firm. With over 20 years of experience in the wealth management industry as an advisor, Anthony has worked with High Net Worth families and Corporations helping build comprehensive portfolios and financial plans to achieve their financial goals. He also presently serves as a consultant to his previous firm. At Canton Hathaway, his goal is to build new relationships with families and future investment partners.
Mr. Procaccianti, President and Chief Executive Officer, is responsible for overall strategic planning, leadership and organizational advancement of Procaccianti Companies and its multiple operating companies and affiliates.
Under his leadership since 1980, the company has grown to become one of the largest and most respected privately-owned real estate investment and management organizations in the United States. Mr. Procaccianti has directed the company through thousands of transactions representing billions of dollars in diversified real estate investments in more than 300 cities across 42 states coast-to-coast.
For over 40 years Mr. Procaccianti has been in the business of acquiring, renovating, managing and financing investment real estate. Mr. Procaccianti possesses the hand-on experience that can only come from having owned, managed, or developed millions of square feet of real estate and billions of dollars of commercial and residential properties.
Specific to the hospitality industry, Mr. Procaccianti has owned, operated, and managed nearly 600 hotels and forged franchise relationships with the world’s leading global hotel brands like Hyatt, Marriott, Hilton, Starwood and InterContinental Hotels Group (IHG). Additionally, he has completed numerous complex acquisitions with national institutional real estate investors, such as GE Pension Trust, Starwood, FelCor, Lend Lease, Host Marriott/Marriott International, Bank of America, and CallPERS, the largest public employee pension fund in the United States.
Mr. Procaccianti is a highly active corporate citizen, serving on multiple executive boards, including the Board of Trustees for Rhode Island Hospital, the Advisory Committee for Hasbro Children’s Hospital, and the Board of Directors for Crossroads RI, Rhode Island’s largest homeless shelter. Additionally, Jim established the Procaccianti Family Foundation, which provides monetary and in-kind support for dozens of non-profit organizations.
Mr. Procaccianti was recently recognized as one of the top 25 “Driving Forces” for his contributions to the Rhode Island business community for his efforts and success over the past twenty-five years. Mr. Procaccianti attended Bryant University in Smithfield, Rhode Island.
Mr. Grady is Managing Partner at JTG Partners LLC advising family offices, privately held corporations, wealthy individuals and families on asset management, M&A and Board governance. John has over 30 years of financial services experience in senior positions across the asset management, private wealth management and banking sections. At Canton Hathaway he is Senior Advisor and a member of the Investment Committee.
Until the end of 2019, Mr. Grady was Senior Advisor at Moelis & Company where he specialized in asset management and real estate transactions. Prior to joining Moelis & Company in 2010, he was a Partner and Managing Director at Athena Capital Advisors in Boston. Previously, John was at Lehman Brothers where he was the Managing Director responsible for the Investment Management Division in New England. Mr. Grady also spent 14 years at State Street Corporation where he was a member of the Executive Operating Group and a Managing Director responsible for sales, client services, consultant relations and charitable asset management for State Street Global Advisors.
Mr. Grady holds a B.A. from Boston University. He serves on the Board of Directors of South Shore Hospital Foundation, Boston Children’s Hospital Foundation and is a member of the Board of Advisors of the Center for Coastal Studies. He is also a member of the Boston University Athletic Director’s Council, a board member of the New England Chapter of Autism Speaks, and a Trustee of the Belmont Hill School.
One West Exchange Street
Providence, RI 02903
(401) 433-7800
231 Royal Palm Way
Palm Beach, FL 33480
info@cantonhathaway.com
Canton Hathaway is a boutique SEC Registered Investment Advisor built to manage the generational wealth of the Chace and Procaccianti families.
The unique team is dedicated to this great responsibility and extends this service to a select group of like-minded families.