A seismic leadership change is afoot at Focus Financial Partners.
On Tuesday, the prominent network of fiduciary wealth management firms announced the appointment of Michael Nathanson as its new chief executive officer, effective immediately.
Nathanson, who previously held the position of president at Focus – a role he was elevated to in January – succeeds Dan Glaser. Glaser, who served as interim CEO, will now assume the role of executive chairman.
Glaser, also an operating partner at Clayton, Dubilier & Rice, the majority investment partner of Focus, has led the firm through a crucial phase of strategic repositioning. Glaser’s new role as executive chairman will see him continue to guide the firm's strategic direction, leveraging his extensive experience in the financial services sector.
"Michael is an exceptional leader in our industry, having grown The Colony Group into one of the largest and best-known firms in the independent space. His promotion to CEO adds immense value to Focus’ leadership team," Glaser said in a statement.
He added that Nathanson has been pivotal in executing the firm's strategy – which includes the recent integration of Focus partner firm GW & Wade into The Colony Group, of which Nathanson is CEO – as well as driving expansion and setting a forward-looking vision for collaboration across Focus’ businesses.
"It’s been an honor serving as President of Focus and having the opportunity to work alongside Dan to build upon the momentum that he and so many others have created for our firm, our advisors, and our clients. I’m extremely proud of what we’ve done together,” Nathanson said.
“We’ve made substantial progress already, and I look forward to continuing the work necessary to further evolve Focus into the unequivocal industry leader in the fiduciary-advice space,” he said.
Nathanson's new role will involve leading the ongoing strategic priorities for Focus, emphasizing the development of top-tier capabilities and services through enhanced collaboration within the partnership.
His leadership is expected to reinforce Focus’ commitment to innovative client solutions and strategic growth.
With these changes, Focus aims to strengthen its position as a global leader in wealth management and enhance its ability to meet the complex needs of its clients and advisors.
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