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The Chicago rollup's founder got paid better by doing the second-stage exit and the new cast on the Board also includes Bob Oros ascending to chair and Darrell Horn of Green Square Wealth Management joining
The new CEO will need to somehow weave together the debris of the first roll-up run and the new one to the satisfaction of RIAs and the hundreds of people already inside the HighTower umbrella
Elliot Weissbluth's move upstairs ends an era, as Thomas H. Lee's reign begins in earnest, and Mark Cabezas comes in as M&A head.
Bapis was Elliot Weissbluth's first recruit to HighTower in 2008 and now he is also Rockefeller CEO Greg Fleming's first poach
Since Thomas H. Lee's $350 million February purchase of HighTower, the firm has sought ways to separate dealmaking and operational duties, but recruiting goes to outsourcer and M&A goes to Marc Cabezas.
The early investor and ex-Schwab CEO is giving ground to the new ownership
The Chicago RIA roll-up adds 45-employee Salient with T.H. Lee omnipresent in shepherding the UHNW deal
The Chicago-based roll-up sold '50-60%' stake -- for $350 million plus $100 million
Post-TD Tom Bradley, post-refinanced Elliot Weissbluth, post-divorce David Bach and Ric Edelman, post-protocol Shirl Penney and post-windfall Marty Bicknell were among execs who tipped their hands and hearts about where they are headed
Thomas H. Lee Partners likes financial firms -- especially ones with big cash flow and potential for operational efficiencies
Source says Oppenheimer is consummating a deal but observers question how HighTower could graft its roll-up onto the aging B-D
Michael LaMena trades in a $50-billion-AUA roll-up for $5-billion-AUM roll-up after headhunter lays out case of bright, de-Balkanized Bronfman Rothschild future
The Chicago roll-up cites improprieties by its partner-employees but recruiters find the timing interesting as the team was actively seeking an exit
Citing post-DOL-rule concerns about serving their super-rich clientle and hungering for more alternative alternatives, Paul Pagnato and David Karp have ankled the captive brokerage world but are keeping ties to the Chicago roll-up
What's hot right now? Almost nothing and nobody. But it might be a 'healthy correction' of equilibrium
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