Liz Nesvold joins Cresset as president

Cresset, the family office and private investment firm that has grown to $30 billion in just six years, has brought on its first company president to help execute the firm’s “100-year vision.”

Liz Nesvold, a 30-year veteran of financial services who most recently was a managing director at Raymond James, has joined Cresset as president, a role with far-reaching responsibilities.

Nesvold's arrival “represents the fact that Cresset is growing in so many ways,” said co-founder Avy Stein, citing the firm’s wealth business, multifamily-office business and private investments business.

“With our growth and development we needed some additional talent and Liz is that talent,” Stein said. “She is a wonderful cultural fit for Cresset, a very strong leader, she has great strategic and operational capabilities.”

Part of Nesvold’s role will be to head strategy, which means finance will be reporting to her, Stein said.

“She will be involved first and foremost in helping us to provide the great boutique service we provide to our clients,” he said. “She has definitely been given a great deal of responsibility.”

Nesvold, 55, is an accomplished executive with a solid reputation across the financial services industry. In 2019 she was recognized by InvestmentNews as a Woman to Watch.

The investment bank that she founded along with her husband Peter Nesvold, Silver Lane Advisors, was acquired by Raymond James in 2019. She remained with Raymond James as managing director and head of asset and wealth management investment banking until leaving to join Cresset.

“I am so excited because this job really gives me a chance to bring a lot of skill sets together that most people don’t know I have,” Nesvold said. “A big part of the work I’ve done in the areas of continuity and succession planning is important to bring additional talent up to the executive ranks. It’s incumbent on all of us as leaders to bring the next generation up. I’m so excited about this opportunity and I’m so blessed by a beautiful career. Young women entering finance and wealth management need to see more role models.”

Cresset co-founder Eric Becker described Nesvold as “an entrepreneur at heart.”

“Liz is a fearless leader who personifies integrity and transparency on behalf of clients, colleagues, and our industry,” Becker said. “She embodies Cresset’s core values of client first, innovation, and entrepreneurial spirit, and will help drive Cresset’s commitment to attract, retain and develop talented, diverse leaders.”