James T. Cavanaugh III

James T. (Jim) Cavanaugh III, an investment advisor for more than 50 years, died on June 17, 2025 at Edenwald in Towson, MD.

Mr. Cavanaugh began his career in finance as an investment representative at Alex. Brown & Sons in Baltimore in 1961. For most of the 1960s he worked with one of the firm's senior partners, Charles S. Garland, Sr., on bond issues for the Delaware Memorial Bridge, the Delaware Turnpike, and Maryland's Northeast Expressway. In 1969 Mr. Cavanaugh was elected a General Partner of Alex. Brown, and in 1971 he became the Partner in charge of the Public Finance Dept., where he was responsible for originating several municipal bond financings in excess of $200 million that were sold and syndicated on the national market, including the Washington Suburban Sanitary Commission in Maryland and the Ocean County Utilities Authority in New Jersey. He also formed a unit within the Public Finance Dept. to underwrite bonds issued by state authorities to finance continuing care retirement communities, which resulted in the underwriting of many such facilities in Maryland, including Roland Park Place and Edenwald. This effort became a major source of underwriting activity for Alex. Brown during the 1980s. Mr. Cavanaugh was also a member of the firm's Executive Committee from 1975 to 1986 (when Alex. Brown became a public company), and from 1986-1990 he was a Director of the firm, serving on both the Executive Committee and the Audit Committee.

After retiring from Alex. Brown in 1990, Mr. Cavanaugh founded Cavanaugh Capital Management, an investment management firm specializing in bond portfolio management for institutions and individuals, headquartered in Towson, MD. Under Mr. Cavanaugh's leadership as Chairman and Chief Executive Officer, CCM grew to manage about $1.5 billion in assets for its clients, including insurance companies, health care systems, public authorities, charitable foundations, and Roman Catholic religious organizations. He remained as Chairman until July 2010, when CCM merged with the investment management firm Brown Advisory of Baltimore. Following the merger, Mr. Cavanaugh served as a Senior Advisor to Brown Advisory.

In addition to being a corporate director at both Alex. Brown and CCM, Mr. Cavanaugh served many institutions and non-profit organizations in Baltimore. He was a Trustee of Loyola College (now Loyola University of Maryland), St. Mary's Seminary and University, Bon Secours Hospital, and St. Paul's School for Girls. He also served on the boards of Mercy Hospital and the Jenkins Memorial Home. He was a founding board member of Sisters Academy of Baltimore. He also served on the board of the Lay Center Foyer Unitas in Rome, Italy, and served on the President's Council of his alma mater, the College of the Holy Cross.

Born in 1935 in New Haven, CT, Mr. Cavanaugh was raised in Holyoke, MA. He received a B.S. degree in economics from the College of the Holy Cross in Worcester, MA in 1957. He served in the U.S. Army for six months in 1957-1958, and in the Army Reserves for six years. He worked for four years for the Union Camp Paper Co. in Quincy, IL before moving to Baltimore in 1961 to join Alex. Brown & Sons.

Mr. Cavanaugh was a long-time member of the Baltimore Country Club and the Country Club of Maryland, and a communicant of St Pius X Church and St. Ignatius Church in Baltimore. Among his many passions in life were his faith, his family, his work, golf, travel, classical music, reading, history, movies, Italian food, and a good chardonnay.

Mr. Cavanaugh is survived by his beloved wife Gerry, of Towson, to whom he was married for 64 years, and by his loving family: Kathy Cavanaugh of Providence, RI; Jim (Deb) Cavanaugh of Cape Elizabeth, ME; Eileen (Dan) Bender of Glen Ellyn, IL; and Jack (Cynthia) Cavanaugh of Towson, MD. He is also survived by his grandchildren: Ben (Amanda) Cavanaugh, Katie (Sergio)Torres, John Cavanaugh, Finn Bender, Payton Cavanaugh, and George Bender as well as his sister, Rosemary Turano (Lew) of Stamford, CT, and many nieces and nephews. He is predeceased by his parents, James T. Cavanaugh, Jr. and Gertrude G. Cavanaugh of Madison, CT and his dear sisters: Jean Smith of Branford, CT, Ann Buckey of Haddam, CT, Peggy Miller Bloom of Niantic, CT.

Visitation will be held on Sunday, June 22 from 2:00–5:00pm and at the Ruck Towson Funeral Home, Inc. 1050 York Road, Towson, MD 21204. A Mass of Christian Burial will be held on Monday, June 23 at 10:00am at St. Mary's Seminary and University, 5400 Roland Avenue, Baltimore, MD 21210. A Private Burial will follow at Dulaney Valley Memorial Gardens, 200 E. Padonia Rd., Timonium, MD 21093. In lieu of flowers, donations may be made to the Edenwald Scholarship Fund, Inc. or Mercy Health Services.

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