EDWARD J. CARPENTER
Chairman, chief executive
Carpenter & Co., Irvine
Born in Salix, Iowa
Age: 64
Lives in Newport Beach
WHY: Longtime bank adviser, heads private equity fund that also is bank holding company, rare status for financial services firm. Has controlling stakes in five California community banks.
HOW: Started Carpenter & Co. in 1974 as bank advisory firm. Worked on more than 1,200 bank assignments, including hundreds of startups. Helped manage assets for Resolution Trust Corp. during savings-and-loans crisis in 1980s. Has served in federal- and state-level advisory groups, including legislative review committees for the Office of the Comp-troller of the Cur-rency in Washington, D.C. Built Carpenter Community Banc-Fund as private equity arm of Carpenter & Co. in 2008 to invest in community banks. Fund was approved as bank holding company.
RECENT: Most recent buy of shares in Costa Mesa-based Pacific Mercantile Bank completed in April, boosting ownership to 26%. Merged Pasadena-based Professional Business Bank into Bank of Manhattan in El Segundo last year. Continues to provide advisory services to other banks.
COMMUNITY: Active on behalf of Bowers Museum of Cultural Art, Los Angeles Public Library Foundation, Mount St. Mary’s College in Los Angeles, Second Harvest Food Bank of Orange County.
INTERESTS: Member of World Presidents Organization. Has led number of YPO/ WPO seminars on banking issues. Member of the board of trustees for Loyola Mary-mount University and International Medical Corps. Past chair of the California Institute, vice chair of California Statewide University Foundation.
PERSONAL: Parents owned corn farm in Iowa. Moved to California when he was teenager. Won three straight competitive fellowships while going to school at Loyola Marymount and California State Univer-sity, Long Beach. Owns ranch in Santa Barbara County. Invests in vineyards, travels often to Napa. Enjoys surfing. Avid reader and writer.
EDUCATION: Bachelor’s degree from Loyola Marymount. MBA from Cal State Long Beach.
—Jane Yu
MOHAMED A. El-ERIAN
Chief executive, co-chief investment officer,
managing director
Pacific Investment Management Co.,
Newport Beach
Born in New York
Age: 53
Lives in Laguna Beach
WHY: He and company cofounder Bill Gross (see related entry) oversee investment policies and strategies for global investment management firm, the largest bond fund manager in the world.
HOW: Joined Pimco in 1999 as senior member of portfolio management and investment strategy group. Left for two years to serve as president and CEO at Harvard Management Co. Came back to Pimco in 2007. Spent 15 years at International Monetary Fund before Pimco. Stint in London as managing director at Salomon Smith Barney/Citigroup.
RECENT: Pimco’s bond fund nearing $1.8 trillion in assets. Company aims for bigger international reach, sending executive to Singapore to head up Asia-Pacific region and planning to open first Latin America office in Rio. Added more than 500 employees worldwide in past year, now has more than 2,000. Sees U.S. economy on the right path but not moving fast enough.
COMMUNITY: Pim-co Foundation operates Good Neighbor program, grants for youth, disabled, environmental causes, am-ong others. Pimco Partners, company volunteer and community outreach program. Quarterly event sponsorships, including Susan G. Komen Race for the Cure, Special Olympics summer games.
INTERESTS: Board member of the National Bureau of Economic Research, the Carnegie Endowment for International Peace and Cambridge in America. Served on the U.S. Treasury Borrowing Advisory Committee, the International Center for Research on Women, the Peterson Institute for International Economics and the IMF’s Committee of Eminent Persons.
PERSONAL: Son of Egyptian diplomat. “Worrier by nature.” Mother told 10-year-old El-Erian not to take life so seriously. Regular media commentator. His book, When Markets Collide, was New York Times and Wall Street Journal bestseller, won the 2008 Financial Times and Goldman Sachs Business Book of the Year award. Regularly contributes to Financial Times and the Huffington Post. New York Mets fan.
EDUCATION: Bachelor’s degree from Cambridge University, master’s degree and doctorate in economics from Oxford University.
FAMILY: Wife Jamie, daughter.
—Jane Yu
WILLIAM H. GROSS
Founder, co-chief investment officer,
managing director
Pacific Investment Management Co.,
Newport Beach
Born in Middletown, Ohio
Age: 68
Laguna Beach
WHY: The Bond King, “face” of world’s largest bond fund (see related entry, El-Erian). Runs flagship Pimco Total Return Fund.
HOW: Got taste of investing when he spent a few months in Vegas playing blackjack after college, turning $200 into $10,000. Been with Pimco since cofounding firm in Los Angeles in 1971 as a separate accounts manager for Pacific Life Insurance. Idea of actively managed bond portfolios was a revolutionary concept then. East Coast bond dealers referred to Pimco as “the beach.” Moved firm to Newport Beach in 1972. Split off from parent company in 1994, becoming Pimco Advisors. Pacific Life sold off remaining $288 million stake in 2009. German insurer Allianz bought majority stake 10 years ago.
RECENT: Total Return Fund assets total a record $258.7 billion, largest mutual fund of any kind. Beat 98% of competitors so far this year with 4.38% return. Launched ETF version of Total Return Fund. Other ETFs launched: Global Advantage Inflation-Linked Bond Strategy Fund, Australia Bond Index Fund, Germany Bond Index Fund, Canada Bond Index Fund. Rare need for “mea culpa” last year after making big bets against Treasuries in Total Return Fund on expectation that bonds wouldn’t compensate investors for risk of inflation. Gross has picked up Treasury securities since noting the misstep. Currently favors bonds in five-year maturity range, dividend-paying stocks and real assets.
COMMUNITY: Gave $23.5 million to alma mater Duke University in 2005, $10 million for Sue and Bill Gross Stem Cell Research Center at University of California, Irvine, in 2006, $20 million to Hoag Memorial Presbyterian Hospital for its Women’s Pavilion bearing their names. Funded James Hines Foundation, which contributes $100,000 annually to OC Teachers of the Year. Donated much of stamp collection to Doctors Without Borders. Gave $10 million to build 12,000-square-foot gallery at the Smithsonian’s National Postal Museum in Washington, D.C., set to open in 2013.
INTERESTS: Regular Barron’s Round-table panelist from 2005 to 2011. Regular media commentator. Author: Everything You’ve Heard About Investing Is Wrong (1997), Bill Gross on Investing (1998). Writes column on company website. Com-mentaries podcasted.
PERSONAL: Active stamp collector, buys and sells at auctions. Third person to own complete collection of 19th-century U.S. stamps. Daily workout regimen includes yoga and riding stationary bike for more than an hour. Reportedly bought Jennifer Aniston’s Beverly Hills estate for $37 million last year.
EDUCATION: undergraduate degree from Duke. MBA from Anderson School of Management at University of California, Los Angeles.
FAMILY: Wife Sue, three children.
—Jane Yu
WILLIAM LINK
Cofounder, managing director
Versant Ventures Inc., Menlo Park
Born in Morenci, Mich.
Age: 65
Lives in Irvine
WHY: Early-stage medical device investment guru works out of Newport Beach office. Cofounder of $1.6 billion venture capital firm with more than 80 companies in portfolio.
HOW: Started professional career as assistant professor in Department of Surgery at the Indiana University School of Medicine. Since then has spent more than two decades of operations experience in healthcare industry. Founded American Medical Optics as part of American Hospital Supply Corp. Sold it to Allergan Inc. in 1986. Founded Chiron Vision in 1986, part of Chiron Corp., specializing in ophthalmic surgical products. Sold Chiron Vision to Bausch & Lomb Inc. in 1997. Cofounded Versant in 1999.
RECENT: Served as chairman of the board at eye-laser company IntraLase, which was sold to Abbott Medical Optics for $808 million in 2007. Cataracts-treatment device maker Eyeonics was acquired by Bausch & Lomb for $300 million in 2008. Helped oversee the sale of Advanced Medical Optics to Abbott Laboratories in 2009. Backed eye-surgery lasers maker LenSx Lasers Inc. before it was acquired by Alcon for $361.5 million in 2010. No. 80 on Forbes Midas List: Tech’s Top 100 Investors last year.
COMMUNITY: Trustee of Tissue Banks International–Frederick N. Griffith Foun-dation. Co-chair of Foundation Fighting Blindness Annual Retinal Innovation Sym-posium. Member of advisory boards for UCI biomedical engineering department, Gavin Herbert Eye Institute.
INTERESTS: Currently sits on board of Cameron Health, Edward Lifesciences, ForSight Vision, Glaukos, NeoVista, Nexis Vision, Neurotech Pharmaceuticals, among others.
PERSONAL: Aviator. Enjoys outdoor activities, including hiking, skiing and bird hunting.
EDUCATION: Bachelor’s, master’s and doctorate in mechanical engineering from Purdue University.
FAMILY: Wife Marsha, two children, three grandchildren.
—Jane Yu
JAMES T. MORRIS
Chairman, chief executive
Pacific Life Insurance Co., Newport Beach
Born in Bryn Mawr, Pa.
Age: 52
Lives in San Juan Capistrano
WHY: Fourteenth chief executive in the 144-year history of PacLife, one of the largest private companies in OC.
HOW: Started at Pacific Life as assistant actuary in special marketing in 1982. Firm sells life insurance, annuities, mutual funds and other investments. Morris moved up the ladder in life insurance division and was elected senior vice president in 1996. Led business development with M Financial Group. Promoted to executive vice president in 2002, becoming head of entire division. Became chief insurance officer in 2005. Role expanded to include annuities and mutual funds division. Advanced to chief operating officer in 2006. Took the top job the following year.
RECENT: Company had assets of $115.8 billion at the end of 2011.
COMMUNITY: Chair-man of the Pacific Life Foundation. Charitable contributions totaled $5.5 million at 2011 year-end, a big chunk of which went to target community issues, such as health and human services, homeless families and ocean health. Treasurer of Hoag Hospital Foundation. Member of the board of visitors of the UCLA Anderson School of Management. Past chair, Junior Achievement of Orange County.
INTERESTS: Fellow of the Society of Actuaries. Member of the American Academy of Actuaries. Chairman-elect of the board of directors of American Council of Life Insurers. Vice chairperson for the Association of California Life and Health Insurance Companies.
EDUCATION: Bachelor’s in mathematics from UCLA.
FAMILY: Wife Ann, two children.
—Jane Yu
PETER V. UEBERROTH
Chairman, managing director
Contrarian Group Inc., Newport Beach
Born in Evanston, Ill.
Age: 74
Lives in Laguna Beach (Emerald Bay)
WHY: Private equity firm specializes in turnaround candidates under leadership of former commissioner of Major League Baseball, Olympic chief.
HOW: Started out business in travel. Served as vice president at Trans Inter-national Airlines after college. Created own travel company, First Travel Corp., in early 1960s; built it to second-largest in North America before 1980 sale to what became Carlson Wagonlit Travel Global, currently the largest travel agency in the world.
Set new standard for organizing Olympics with 1984 games in Los Angeles. Commis-sioner of MLB from 1984 to 1989. Headed Rebuild L.A. as co-chair to help South Los Angeles get back on feet after 1992 riots. Oversaw combination of Doubletree, Red Lion, Hampton Inn hotel brands, among others. Later sold to Hilton. Arranged 1999 buy of Pebble Beach golf course.
RECENT: Chairman of U.S. Olympic Committee from 2004 to 2008. Finished with U.S. grabbing most medals in Beijing. Ended term as honorary committee president in 2010. Assisted $20 million funding of Brand Affinity Technologies through his family’s CGI Opportunity Fund. Contrarian currently has 16 portfolio companies, including Bellingham Marine, world’s largest builder of docks and marinas; Stem CentRx, stem cell cancer research company; Marrone Bio Innovations Inc., maker of pesticides using all-natural, non-polluting materials; and TeachTown Inc., developer of education programs for people with autism.
COMMUNITY: Established the Ueberroth Family Foundation in 1984. Gave more than $2 million over fiscal 2011 to more than 75 nonprofits, including Girls Inc., Human Options, El Viento, Illumination Founda-tion, Shea Center, Laguna Beach Com-munity Clinic and Think Together. Looking at a larger budget for 2012 grants. Helped found Sage Hill School in 2000, a college prep school in Newport Coast.
INTERESTS: On boards of Irvine Com-pany, Coca Cola Co., Aircastle. Politically active Republican. Brief run for governor of California in 2003 recall election as independent. Owns Paso Robles winery.
PERSONAL: Moved around a lot as a child. Entered orphanage at 16, worked as home’s recreation director. Received John Wooden Global Leadership Award from Anderson School of Management at UCLA. Time Magazine Person of the Year in 1984. Received the Olympic Order in gold, highest award from International Olympic Committee. Friend of fellow OC 50er Donald Bren.
EDUCATION: Business degree from San Jose State University, attended on water polo scholarship.
FAMILY: Wife Virginia, goes by Ginny. Chairs Ueberroth Family Foundation, director at First American Financial Corp. since 2010, held same post with predecessor First American Corp. Four children, grandchild-ren.
—Jane Yu
OTHER MEMBERS
MARK PERRY
West region commercial executive
Global commercial
ALLEN STAFF
OC market president
Bank of America
PAUL MERAGE
Chairman
MIG Capital LLC
Newport Beach-based investor with real estate arm, UCI benefactor
STEPHEN GORDON
Chairman, chief executive
Opus Bank
Irvine-based bank has grown into regional presence with buys here, Washington
ROB C. YRACEBURU
Executive vice president
Southern California division manager
Wells Fargo
