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Latest Wachovia Securities News
Jan 25, 2023
Baltimore, Maryland, UNITED STATES BALTIMORE, Jan. 25, 2023 (GLOBE NEWSWIRE) -- Adams Diversified Equity Fund, Inc. (NYSE: ADX), one of the nation’s oldest closed-end funds, today announced that D. Cotton Swindell has been elected President of the Fund effective upon CEO and President Mark Stoeckle’s retirement in April. Mr. Swindell has been an Executive Vice President and a portfolio manager of ADX since January 21, 2015. He will continue to serve as a member of the portfolio management team that is currently headed by Mr. Stoeckle, and will be headed by incoming CEO James Haynie. Mr. Swindell has served the Fund in a variety of capacities for the past 20 years. He joined ADX in 2002 as a research analyst covering the industrials sector. He was promoted to Vice President-Research in 2004, covering the financials and industrials sectors. In his role as Executive Vice President, Mr. Swindell has been responsible for covering the industrials sector and the auto and media industries within the consumer discretionary sector. “Cotton has proven his ability as a talented analyst and portfolio manager and exhibited the insight that Jim Haynie and I believe will make him valuable as President of the Fund,” said Mr. Stoeckle. Prior to joining ADX, Mr. Swindell was an Equity analyst with Wachovia Securities and for 10 years, an Equity analyst with Alex. Brown & Sons where he provided equity research on a broad array of small- and mid-cap industrial stocks. Earlier in his career, he worked at Prudential-Bache Securities in investment banking and fixed income trading. Mr. Swindell holds a Bachelor of Science degree in Finance from the University of Virginia, McIntire School of Commerce. He received an MBA from Duke University’s Fuqua School of Business. He is a CFA® charterholder. About Adams Funds Since 1929, Adams Funds has consistently helped generations of investors reach their investment goals. Adams Funds is comprised of two closed-end funds, Adams Diversified Equity Fund, Inc. (NYSE: ADX) and Adams Natural Resources Fund, Inc. (NYSE: PEO).The Funds are actively managed by an experienced team with a disciplined approach and have paid dividends for more than 85 years across many market cycles. The Funds are committed to paying an annual distribution rate of 6% or more, providing reliable income to long-term investors. Shares can be purchased through our transfer agent or through a broker. For more information about Adams Funds, please visit: adamsfunds.com.
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