HighTower Recruits $2.5B Team From Morgan Stanley
HighTower has brought on a new partner from Morgan Stanley Smith Barney, where he headed a team that managed about $2.5 billion.
James Pupillo, a former institutional and family wealth director of Graystone Consulting at Morgan Stanley Smith Barney, is being hired as managing director and partner by HighTower, an advisor-owned national financial services company serving wealthy families and institutional clients based in Chicago with offices in New York, San Francisco and elsewhere throughout the country.
Pupillo will head the Scottsdale, Ariz., office, the first office for HighTower in the Phoenix area. HighTower has $20 billion in assets under management and Pupillo is expected to bring nearly all of his client's assets to the new office, totaling approximately $2.5 billion. Pupillo becomes one of nearly 30 independent owners of HighTower with back office support and services by joining the organization, says Mike Papedis, Hightower executive vice president of business development.
Pupillo was named as a member of the Top 100 Advisors every year since 2006 by Barron's. He is a past president of the Association of Professional Investment Management Consultants (APIC) and the Institute for Investment Management Consultants (IIMC).
"Jim has consistently been recognized as one of the leading advisors not only in Arizona, but throughout the country," said Mike Papedis, executive vice president of business development at HighTower.
Pupillo has more than 25 years of financial industry experience advising both institutions and high net worth families. He will lead a team including directors and partners Brian Hein and David Brasfield. Hein focuses on corporate benefit plans, serving for-profit and not-for-profit organizations. Brasfield's specializes in the complex financial planning needs of wealthy families.
"I looked at several vendor platforms to support us if we went completely independent, but none provided anything close to the comprehensive platform at HighTower," Pupillo said.
-Karen DeMasters
Knights Of Columbus Buys 20% Of Boston Advisors
The Knights of Columbus has bought 19.9% ownership of Boston Advisors LLC, a privately held, registered advisor with $2 billion in assets under management. The firm provides investment capabilities in equity and balanced management.
The Knights of Columbus also has selected Boston Advisors to manage an all-cap equity discipline, a global tactical asset allocation strategy and a socially responsible portfolio for its pension fund and charity and general accounts.
"Boson Advisors' range of equity investment capabilities and tactical allocation strategies augment our fixed-income expertise and offer an excellent means of gaining exposure to the U.S. equity market and alternative asset classes," said Tony Minopoli, senior vice president and chief investment officer of the Knights of Columbus.
Boston Advisors LLC also announced it has launched two small-cap equity disciplines, the Small Cap Value and Small Cap Growth disciplines. The strategies are available as separately managed accounts.
-Karen DeMasters
On The Move
BNY Mellon's wealth management business announces two promotions and a new Cayman Island office.
Gregory Simpson has been promoted to family wealth advisor. Based in Pittsburgh, he will focus on serving the complex needs of ultra-wealthy clients. With BNY Mellon since 1999, Simpson most recently served as a portfolio management team leader.
Kevin Rogers has been promoted from managing director to family wealth advisor. Based in New York, Rogers has more than 21 years of experience in financial services. Prior to his current role, he was vice president in the investment advisory group at Bank of New York.
BNY Mellon's International Wealth Management group has opened its first office on Grand Cayman. The new location will expand the firm's global capabilities to serve international high-net-worth clients.
Spruce Private Investors LLC has hired Courtlandt Bromwell Ault as a director in the portfolio management group. Based in Atlanta, Courtlandt is responsible for managing and building client relationships in the southeastern U.S. With over 30 years of experience, Courtlandt previously served as president and CEO of a U.S. family office, and was national sales director and southeast region head for Atlantic Trust.
Kleinberg, Kaplan, Wolff & Cohen P.C., a New York-based law firm, has named Kelly Zelezen and Euchung Ung as members. Zelezen joined the firm in 2006 and concentrates her practice on the asset management industry. Ung joined in 2008, and practices in the firm's real estate group.
-Kathy Lynch