Five Questions With: Daniel J. Rosenbach

DANIEL J. ROSENBACH is president of IGWE Trust LLC and owner and operator of Red Cottage Restaurant in Cape Cod. / COURTESY DANIEL ROSENBACH
DANIEL J. ROSENBACH is president of IGWE Trust LLC and owner and operator of Red Cottage Restaurant in Cape Cod. / COURTESY DANIEL ROSENBACH

Daniel J. Rosenbach, president of IGWE Trust LLC, is the decades-long owner and operator of Cape Cod’s iconic Red Cottage Restaurant. A Chicago native, Rosenbach is a 1986 graduate of Johnson & Wales University, and has been a member of IGWE Trust since 2008. He talks with Providence Business News about the trust, its investments and its history.
PBN: Can you tell our readers about the IGWE Trust?
ROSENBACH:
IGWE Trust, an acronym for “In God We” Trust, is thought to be the second-oldest investment club and partnership in the country, founded in July 1927 by Robert C. Chapin. Its diverse membership is comprised of business leaders in Rhode Island and southeastern New England, representing a broad spectrum of businesses and disciplines. Past and current membership include presidents, owners and managers from the banking, financial, accounting, industrial, publishing, real estate, legal, medical, hospitality, retail, asset management, chemical, communications, construction and utility industries; education, legal and the arts. [Members include] presidents, divisional vice presidents, managers and owners and operators of leading public and private companies, including Prov Gas, Valley Resources, The Providence Journal Co., Textron, Cranston Print Works, Wardwell Manufacturing Co., Ward, Fisher & Co., Bank of America, Citizens Bank and Bank RI, Ann & Hope, and Beacon Communications, among a long list of others. The organization has a portfolio in the range of $1.5 million comprised of publicly traded equities and is managed by member trustees. A minimum initial investment of 200 units is required for new members, roughly equivalent to $15,000, based on today’s prevailing market conditions.
PBN: How active is the group?
ROSENBACH:
The partners have met for a noontime luncheon meeting on the first Friday of each month since 1927, initially at the Turks Head Club, then later at The University Club, and presently at the Providence Art Club, during which time partners discuss business trends and developments in their respective fields, provide suggestions for investments and are responsible for monitoring those investments. Developments on the local scene are also often the subjects for lively discussion. Guests have included governors, senators, CEOs, CFOs, investment relations representatives and a wide-range of guest speakers. Additionally, the group has occasional social outings at area venues, including an annual evening at the Anawan Club in Rehoboth and the Quantum Association in East Providence.
PBN: How robust is your membership, and are you accepting new members?
ROSENBACH:
IGWE Trust is always interested in inviting prospective new members, which the existing membership believes will be accretive to the understanding of businesses and industries beyond those presently represented. New members are expected to participate in the stewardship of the group and to take an active role in its operation and management.
PBN: What do you look for in a good pitch?
ROSENBACH:
Because the membership is comprised of individuals with a high degree of specialized knowledge in their respective industries or disciplines, their fundamental knowledge of cutting-edge companies, developing new trends, outstanding company managements, and keen insights and observations, a “good pitch” for prospective new investments is most often a thumbnail summary and simple rationale for why it may be an investment meritorious of consideration for inclusion in IGWE’s portfolio.
PBN: How do entrepreneurs connect with IGWE Trust?
ROSENBACH:
Interest in exploring potential membership in IGWE TRUST LLC may be initially directed to [me], its president, at djrosenbach@gmail.com.

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