Sirach Capital Founders To Form New Firm

Two founders of the state's biggest investment manager have departed to form a new company, Rigel Capital Management.

George Kauffman and Boyd Sharp Jr. have left Sirach Capital Management after 18 years to run the new Seattle firm. Sirach, a unit of Boston's United Asset Management since 1989, manages $7 billion in assets.

Kauffman was Sirach's chairman and chief investment officer. He will be president and chief investment officer at Rigel, whose offices will be in the One Union Square building. Sharp was Sirach's president and chief administrative officer. He will be chairman of Rigel.

The duo brought along a third Sirach executive, Robert Stephenson, as risk control and senior investment officer.

The new firm will include Kauffman's son Jeff, who moves over from the Ragen MacKenzie Group brokerage. Sharp's son Chris also will join the firm.

Rigel's services are designed for nonprofit foundations and individuals with charitable interests. It also will manage a limited number of select individual and institutional accounts.

Greg Heberlein's phone is 206-464-2267; e-mail address:

gheberlein@seattletimes.com