Emigrant has appointed Liz Nesvold as vice chair of Emigrant Bank and chair of Emigrant Partners, the unit that makes minority investments in registered investment advisory firms. This move comes after Nesvold’s successful collaboration with Emigrant on various transactions since 2017.
Trusting in Nesvold’s Expertise
CEO Howard Millstein expressed his excitement about recruiting Nesvold to the team, highlighting their successful previous work together. Nesvold’s role will primarily focus on Emigrant’s trust businesses on the banking side and Emigrant Partners.
Focus on Wealth Management
Nesvold will closely collaborate with all bank units involved in wealth management solutions, emphasizing high-net-worth and ultra-high-net-worth markets. Her aim is to facilitate connections across the Emigrant platform and drive the growth of their wealth enterprise.
Partnering for Success
As chair of Emigrant Partners, Nesvold will collaborate with Jenny Souza, president and CEO of the RIA platform, whom she originally brought into the investment-banking industry. Their professional relationship over the years has led to this exciting opportunity for collaboration once again.
Emigrant Partners: A Supportive Partner for RIA Leadership Teams
Emigrant Partners recently shared its vision with Advisor magazine, emphasizing the unique approach it takes when partnering with RIAs. Unlike other firms, Emigrant never takes more than a 49.9% stake in an RIA, maintains a long-term investment strategy, and offers a range of support without imposing restrictions on business models.
Fostering Talent and Vision
“We’re seeking out exceptional leadership teams with a clear vision for their business and a solid plan for execution,” explains a representative from Emigrant Partners. “Our goal is to believe in their vision and provide the necessary support to help them succeed.”
Nesvold’s Impressive Background
Leading the charge at Emigrant Partners is Nesvold, a seasoned professional with a robust resume in the financial sector. With experience dating back to 1991, Nesvold’s career highlights include roles at Berkshire Capital and the successful launch of investment bank Silver Lane, later acquired by Raymond James. Her expertise spans various aspects of wealth management, from succession planning to organic growth strategies.
Strategic Support for Wealth Managers
In light of the industry’s evolving landscape, Nesvold emphasizes the importance of strategic partnerships that align with the fiduciary duty owed to clients. She believes that Emigrant’s platform is uniquely positioned to empower independence among wealth managers and drive growth in the sector.
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