Our Leadership

The roots of Conifer Bay.

Ben Armstrong

Ben spent the first decade of his career working as a broker at Lehman Brothers and other large financial institutions. The late-1980s and 1990s was an amazing era of innovation, and diversified global institutions provided a deep bench of research analysts to learn from. As a bond and derivatives expert, Ben’s clients included banks and mutual fund managers.

After earning an MBA and the CFA designation, Ben became a successful investment manager with fiduciary responsibility for client portfolios. Over twenty years, he managed investments for high net worth individuals and institutions, including insurance companies, corporations, endowments and foundations. These portfolios varied by client, but often held assets ranging from traditional stocks and bonds, to master limited partnerships (MLPs) and mortgage debt. As a member of investment committees, Ben developed strong asset allocation and risk management skills.

Although most would identify Ben as an investment expert, one of the most enjoyable aspects of his career has been working closely with a select group of wealthy families. These clients were not necessarily wealthier or more-sophisticated than others, but they shared his passion for opportunistic investment ideas. With a goal of focusing on individual investors who share his investment philosophy, Ben created Conifer Bay Capital.


- 25+ years of investment expertise
- Helping grow, plan and protect assets
- Serving wealthy individuals, endowments and foundations
- Managing mutual funds, pension and retirement plan assets


- Economics BA, Grinnell College
- Finance MBA, Kellogg School of Management
- CFA® Charterholder, CFA Institute


- Kenilworth Union Church, Alison Tobey Smart Fund
- Winnetka Caucus Council
- Camp Manito-wish YMCA / Emeritus Board + Capital Campaign
- Chicago Botanic Garden / Ambassador