HighTower has added the investment team of HSW Advisors in New York City. Team members Kenneth Hoffman, Richard Steinberg and Jordan Waxman join HighTower as partners and managing directors. HSW Advisors, previously with Merrill Lynch Private Banking and Investment Group, manages more than $1.4 billion for approximately 50 clients.
361 Capital, a Denver-based provider of alternative investment mutual funds, has entered into a partnership with Lighthouse Partners designed to leverage both firms alternative investment capabilities. The relationship provides Lighthouse Partners with a minority equity stake in 361 Capital and access to its affiliated advisors and intermediaries. Brian Cunningham, 361 Capital's president and CIO, expects to leverage Lighthouse Partners' expertise in creating alternative investment products, expanding the 361 Capital's lineup of liquid alternative investment vehicles.
Citi Private Bank has named Mark Hewson and Maggie Osotio directors. Hewson joins the firm as director and foreign exchange investment specialist in San Francisco. He joins Citi from Wells Fargo, where he served as senior vice president and national sales manager. Osorio has joined Citi as director and law firm group private banker based in Houston, Tex. She joins the firm from Wells Fargo Bank, where she was senior vice president and private banking manager.
Morgan Stanley Smith Barney has hired Devin Condron for their private wealth management group in Boston, which caters to individuals, families and foundations with $20 million or more in investable assets. Previously with Merrill Lynch, where he managed $830 million in client assets, the move to Morgan Stanley Smith Barney is a return to Condron's roots as he started his career at Salomon Smith Barney in the late 1990's.
Baird has hired Mark Stevanovic as senior vice president to open and manage their new wealth management office in Portland, Maine. Prior to joining Baird, Stevanovic held a variety of management positions with Morgan Stanley Smith Barney in the northeast. Most recently he oversaw their two offices in Portland and Bangor, Maine.
-Kathy Lynch