Chicago-based Hightower has hired Robert Picard to head alternative investments in its investment solutions group.
In the new position, he will work to expand access to private-market investments and custom solutions for the firm’s community of advisory businesses, the firm said in a press release Wednesday.
Picard was most recently managing director and head of alternative investments at First Republic Private Wealth Management. Earlier, he built alternative investment platforms at The Carlyle Group/Rock Creek, Optima Fund Management, RBC Capital Markets and InfraHedge/State Street.
The firm’s assets under management totaled $117.7 billion at the end of the first quarter, while assets under administration were approximately $141.5 billion.
Blue Anchor Capital Management and Pickett also purchased “highly aggressive and volatile” securities, according to the order.
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