CBS 42 Special Report: Raymond Harbert on being inducted into the Alabama Business Hall of Fame and building on the Harbert legacy

Yahoo

13-11-2024

BIRMINGHAM, Ala. (WIAT) — With Birmingham based Harbert Corporation, John Harbert built an enormous fortune and a legendary name. If nothing else, residents know the name from the Harbert Center in downtown Birmingham or a lengthy stretch of I-459.
His son, Raymond, was his hand picked successor and will be inducted into the Alabama Business Hall of Fame on November 14 for the trail he blazed on his own. However, the younger Harbert's path diverged greatly from his father's and it centered on seeing opportunities and seizing them.
'I grew up listening to one of the iconic entrepreneurs in the state of Alabama in John Harbert, my father. It was pretty natural to move into that early on and continue with it,' Raymond said.
Raymond replaced his father as CEO of Harbert Corporation in 1990, a move and decision he said caught him by surprise.
'I was very surprised. Was I ready? Probably not, but are you ever?'
Early on, Raymond lead the massive business through some challenges, including the decision to sell off the construction company that his father built into a powerhouse.
'Probably the most difficult decision was in late 1992 to sell the original and largest construction company. Emotionally, that was a very difficult decision for him,' Raymond said.
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Free of the construction business, Harbert turned his attention to the future and set his sights on an entirely new venture: Harbert Management Corporation. Today, the investment firm has north of $8 billion in assets.
Harbert's success stands on its own, but he's never lost sight of his father's influence.
'My wife likes to say, 'Raymond you've spent your life trying to outdo your father.' I don't know that I agree with that.'
Raymond and his wife Catherine have have given millions to causes that matter to them, such as Auburn University and Red Mountain Theatre to name a few. Raymond has also invested a great deal of time and money here in Birmingham, contributing to Birmingham's restaurant scene.
'I really feel like the renaissance of Birmingham and what it's becoming. It is a serious culinary outpost, and it has to do with what happened in the restaurant scene in Birmingham started by Frank Stitt.
Legendary Birmingham Restaurateur Frank Stitt has known Raymond and his family for decades. Harbert's father John was an early fan of Stitt's Highlands Bar and Grill. Stitt said Harbert has a keen eye for recognizing and investing in blue chips in Birmingham's burgeoning food scene.
'What Raymond seeks is to build on the quality of our food scene, Pepper Place, restaurants and the bars. So, people can choose to come here instead of Atlanta, Nashville and New Orleans. I think that's what Raymond sees as the big picture,' Stitt said.
That picture began to take focus with the launch of the James Beard award winner Automatic Seafood on 5th Avenue South in Birmingham.
'Automatic, which is the first one I did, has been a huge success, and then Helen has also been a very big success,' Harbert said.
Helen was launched in the summer of 2020. Helen Owner and Executive Chef Rob McDaniel was nominated for a 2024 James Beard award.
'I think Raymond's goal is to continue to bring those caliber places to Birmingham and continue to raise the bar as far as our culinary scene in the city of Birmingham,' McDaniel said.
With Automatic, Helen and the new offering of Current Charcoal Grill, near Red Mountain Theater on 2nd Avenue South, Harbert is putting funding behind restaurants that are focused on award winning fare or bust.
'I'm in the investment management business, I'm not in the restaurant business. I'm in this solely to win James Beard awards,' Harbert said.
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