Executive chairman
Fiduciary Management Inc. | Milwaukee
Pat English is executive chairman of Fiduciary Management Inc., a Milwaukee-based investment advisor with approximately $15 billion in assets under management. In his role, English analyzes stocks, markets and macro conditions, working with analysts and the senior leadership team. He previously was chief investment officer from 1989 to 2022, president from 2001 to 2010 and CEO from 2010 to 2022. English is chairman of the Lynde & Harry Bradley Foundation, a Milwaukee-based grant-making organization that promotes principles and institutions of American exceptionalism. He is also on the board of Encounter for Culture and Education, a nonprofit corporation focused on strengthening the marketplace of ideas and preserving democratic culture.
Education: Bachelor’s, Stanford University
What would you like to change about Wisconsin: “Change how we tax. Move to a 0% state income tax or 2.5% flat. The states that are most successful have done that and it makes economic sense not to tax the thing you want (income). There are other ways to tax fairly that make more economic sense.”
Definition of success: “Husband, father, grandfather, productive citizen, and making life better or more enjoyable for others.”
Historical figure you look up to: “Calvin Coolidge. Most underrated president. He believed in limited government and free markets.”
If you could time travel: “Philadelphia Constitutional Convention, 1787.”
2022 Wisconsin 275 Profile
Banking and Finance
Chairman, CEO and chief investment officer
Fiduciary Management Inc. | Milwaukee
Pat English is chairman, chief executive officer and chief investment officer of Milwaukee-based money management firm Fiduciary Management Inc. He is also a partner and member of its portfolio management committee. With about $17 billion in assets under management, FMI is one of the largest investment management firms in the Milwaukee area.
English joined the firm in 1986. He has been the CIO since 1989, CEO since 2010, and chairman since 2017. He was president from 2001 to 2010 under the leadership of founder and then-CEO Ted Kellner.
English co-manages the $1 billion FMI Large Cap fund; some of its top holdings include Dollar General Corp., Dollar Tree Inc., Charles Schwab Corp., UnitedHealth Group Inc. and Berkshire Hathaway Inc.
Prior to joining FMI, English was a research analyst with Dodge & Cox. English is a member of the Milwaukee Analyst Society and is a chartered financial analyst. He is vice-chairman of the Bradley Foundation, a Milwaukee-based grant-making institution with about $850 million in net assets. He’s also served on the board of one of the Bradley Foundation’s grantees, Encounter Books. The book publisher is part of Encounter for Culture and Education and is focused on engaging in educational activities to “help preserve democratic culture.”
Education: Bachelor’s, Stanford University
What was your first job, and what did you learn from it?
“Worked at a driving range from age 12-18. Learned to work hard and to be tough. We had to hand pick the range and I got hit by golf balls at least 150 times! Also learned to fix things, work in the pro shop and restaurant. Then there was free golf!”
What piece of advice has had the most significant impact on your career?
“Make yourself valuable to the firm and the rest will take care of itself.”
If you could have dinner with any two business leaders, who would you choose and why?
“Chris Koch, Carlisle Cos. CEO. He gets that companies that focus on their core business and shed non-essential ones win in the stock market. And I understand he is a great guy who is a lot of fun. Rick Dreiling, chairman of Dollar Tree. Rick is considered one of the best retail executives of the past 30 years. He, along with an activist, took on an entrenched team at Dollar Tree, through them out and now is turning the company around.”
What are some of your favorite destinations/places to visit?
“Puerto Vallarta, Mexico. Arizona.”
What is one book you think everyone should read (or podcast everyone should listen to) and why?
“Not exactly what you are asking, but everyone should read the declaration of independence and the constitution of the United States.”
What’s your hobby/passion?
“Golf, sports, reading, running with my dog.”
What is your favorite Wisconsin restaurant and what do you order there?
“Culvers. Double butter burger with cheese, fried onions. Fries. Butterfinger concrete mixer.”
What would people be surprised to learn about you (fun fact)?
“I like to sing but I am terrible, so I sing alone!”
What was your first car? How long did you drive it for?
“’68 VW. It was 15 years old when I got it and I milked it for another two!”
If you could take a one-year sabbatical, what would you do?
“I love my life. I wouldn’t really want to check out for a year.”
What’s the toughest business challenge you’ve had to overcome?
“Bad markets and tough stretches cause some customers to flee. That is tough because I take it personally. Our strategy always comes back but the money rarely comes back, forcing us to find new customers. It is a silly treadmill but I’ve seen it for almost 40 years.”
What advice would you give to a young professional?
“Keep your head down and work!”
What has been your/your company’s most significant success over the last 12 months?
“Navigating the bear market!”
What is one thing you would change about Wisconsin to make it even better?
“Eliminate the state income tax. There are much better ways to raise funds.”
As you enter your office, what would you choose to be your walk-up or theme song?
“Theme from Rocky!”
Is there a nonprofit cause that has special meaning to you?
“Bradley Foundation. It is committed to the fidelity of the constitution, free enterprise, informed citizens and civil society.”
What is the biggest risk you have ever taken?
“Moving to Wisconsin from California in 1986.”
What’s at the top of your bucket list?
“More grandchildren.”
What has you most excited about the future?
“We are building a house on a lake. I’m excited to enjoy lake living.”
