- people on the move
Financial firm opens downtown HQ
A financial firm has opened its new permanent headquarters in downtown Grand Rapids.
Red Cedar Investment Management opened a 4,000-square-foot office at 333 Bridge St. NW, Suite 601, in Bridgewater Place in downtown Grand Rapids this fall, according to the firm this month.
Red Cedar had been leasing a temporary suite in the building while its new space was under construction.
The firm moved its headquarters to Grand Rapids from East Lansing in January 2019, according to a previous Business Journal report.
John Cassady, chief investment officer for Red Cedar, oversees the new office, which has six employees with room to hire about 10 more.
“We think there’s an advantage to being located here. We are in a better place to tune out the constant barrage of potential market moving signals — some of which are nothing more than noise — than our friends in the large money centers,” he said. “This can be a stressful business, and New York can be a grind. Grand Rapids affords us the opportunity to do what we love with a better quality of life and a healthier lifestyle.”
Design on the new office began in December 2018, and the project was completed in September.
The new space features an open floor plan, as well as five private offices, a huddle room with video conferencing, a kitchen with high-top bar seating and a high-tech board room that seats 14-plus.
It is furnished with Steelcase products.
Grand Rapids-based Fishbeck served as contractor, architect and interior designer on the project.
The project cost was not disclosed.
Founded in 2014, Red Cedar Investment Management is a registered investment adviser and subsidiary of Delta Dental of Michigan and Ohio.
Red Cedar is focused on providing “high-quality, income-producing strategies” to institutional clients through research across the capital structure. Its primary expertise is in managing preferred securities.
The firm’s offerings include liquidity management, short duration fixed income, core fixed income, core plus fixed income and two dividend growth (equity) strategies.
Red Cedar has offices in Cincinnati, East Lansing and Grand Rapids.
It had $1.3 billion in assets under management as of Dec. 31, 2019.