ANDREW M. CARTER

1940 - 2014

CARTER, Andrew M. An early leader in the field of active bond management and one of the best bondsmen of his time, died at his home in Boston on October 17, 2014. He was 74 years old. With his upbeat approach to life, gracious manner, dapper attire, curled moustache, and keen mind, Andy Carter had a style all his own. Mr. Carter spent his entire professional career in the financial sector and developed a much sought after expertise in bonds and fixed income. After a short stint on Wall Street, he noticed that while there were thousands of stock experts, there was a dearth of bondsmen, and he jumped at the opportunity this presented. Within a very short time, at age just 24, he was running Harvard University's $500 million bond portfolio. In 1972, he described his philosophy as "making sensible switches" and noted further, "It's sweaty work, yes, but there's nothing mystical about it." In 1968 Mr. Carter helped form the bond group for Wellington Management Company, which he grew to more than $500 million in assets; he then founded Standard & Poor's/Carter, Doyle in 1972. In 1975 he joined Jennison Associates, where he led the bond department, became senior vice president, and stayed until 1992 as he grew the fund to $10 billion in assets. He next served as president of the fixed income investment management firm Andrew M. Carter & Company LP and in 1998 became chairman and CEO of Hyperion Capital Management, where he continued as senior advisor until 2010. A former colleague of Mr. Carter considered him to be "one of the finest math guys" in the business, further stating, "Andy understands the math of bonds, the quirks of bonds." Mr. Carter so loved what he did that he refused to call it work. He was born on June 7, 1940, in Englewood, New Jersey. His mother, Pauline Humeston Carter, was president of her class at Abbott Academy and president of Dana Hall at Wellesley College. His father, Herbert Pratt Carter, graduated first in his class at The Loomis School in 1920 and went on to Princeton University and Harvard Law School. In 1986 Mr. Carter named the first constructed girls dormitory at The Loomis Chaffee School, in Windsor, Connecticut, in honor of his parents. Mr. Carter followed in his father's footsteps at Loomis, also graduating first in his class, and went on to Harvard College, where he graduated in three years with an A.B. in English Literature. He is survived by his wife, Ren?e Krimsier Carter, an accomplished flutist and faculty member at the New England Conservatory and Boston University, who also performs as principal flute of the Boston Pops Esplanade Orchestra; by his sister, Susan Pratt Carter of Englewood, New Jersey; and by James P. Carter, his son from his first marriage to Dale Marsha Peterson. Philanthropy and service marked Mr. Carter's life. He believed that "guiding children is the single best way to improve our collective future." He was a trustee at Loomis from 1986 to the present, where he served as vice chairman of the board and longtime chair of the Investment Committee. Few people loved the school more, and Mr. Carter gave generously of his time and money. In addition to gifts for the dormitory and for Sellers Hall, the school's office of admission, he also made a gift to name the development office in honor of his wife Ren?e Krimsier Carter and endowed an instructorship in music in memory of his brother, Thomas Benedict Carter, combining his love for the school with his love of music. He also served on boards for the William E. Simon Graduate School of Business Administration at the University of Rochester; The New England Conservatory, where he was also chair of the Investment Committee for many years; Manchester Capital Management; and the Dean's Advisory Committee of the Boston University School of Management; and as president of the Big Brother Association of Boston. A member of the Bonita Bay Club, Mr. Carter and his wife divided their time among homes in Boston; Bonita Bay, Florida; and Strafford, Vermont. Andy Carter had a roving intellect, and his interests included poetry, history, horses, golf, and music. He was particularly fond of A. E. Housman's poems. When Housman died, his family found a previously unpublished poem marked "For My Funeral." Mr. Carter read that poem at the funerals for his mother, father, and brother. The last stanza of that poem follows: "We now to peace and darkness, And earth and thee restore, Thy creature that thou madest, And wilt cast forth no more." On Sunday, October 26, the family will hold calling hours from 2 p.m. until 5 p.m. at 10 Walnut Street in Boston, Massachusetts. On Saturday, November 8, a memorial service will take place at 11 a.m. in the Chapel of Founders Hall at The Loomis Chaffee School in Windsor, Connecticut, with a 10 a.m. reception and a 12:30 p.m. luncheon. In lieu of flowers, please send donations to The Loomis Chaffee School, 4 Batchelder Road, Windsor, CT 06095.