By Chris Glynn
The $35 billion Pathstone Family Office has named Matt
Fleissig its chief executive officer (CEO), replacing joint CEO Steve
Braverman and Allan Zachariah, according to the New Jersey company.
In addition to installing Fleissig as CEO, Pathstone FO named
chief advisory officer Kelly Maregni its president, the company said.
Braverman and Zachariah—who cofounded Pathstone FO in 2010—had
been joint CEO of the $35 billion Pathstone FO, a registered investment advisor
(RIA), family office, as well as endowment and foundation service provider.
The company said private equity firm Lovell Minnick
Partners put its longtime succession plan involving Fleissig and Maregni in
place after purchasing significant ownership in Pathstone FO from Fiduciary
Network in November 2019.
Pathstone revealed Braverman, 58, and Zachariah, 63, will
become co-chairman of Pathstone Family Office July 1. Braverman and Zachariah
had led Harris myCFO before forming Pathstone FO.
Harris myCFO is the private wealth manager business of BMO
Harris Bank, a Chicago investment bank.
Fleissig had worked for Goldman Sachs & Company as
well as Harris myCFO before joining Pathstone FO in 2010.
Maregni joined Pathstone Family Office after Federal
Street Advisors—a financial consultant based in Boston—merged in 2015.
Pathstone Family Office is headquartered in Englewood, N.J. Earlier
in May, Pathstone FO purchased $1.9 billion Advisor Partners as well as
part of Eaton Vance WaterOak Advisors.