C-suite shakeup at $71B Cresset as firm continues expansion

Cresset announced a slate of leadership changes on Tuesday, appointing new executives to several top roles as the multi-family office continues to expand its national footprint.

The Chicago-headquartered national RIA revealed Mike Silverman as its new chief investment officer, succeeding Jack Ablin, who will transition to the newly created position of chief investment strategist.

Amy Hong, previously chief compliance officer, will take on the additional role of chief operating officer, the firm said Tuesday.

“These changes reflect Cresset’s growth, and we believe will further position us for long-term success,” Susie Cranston, president of Cresset, said in a statement. “Amy, Mike, and Jack are exceptional leaders with a long and distinguished track record of helping to lead growing financial firms. Our team and clients are incredibly fortunate to have such strong and visionary leaders serving on their behalf.”

Ablin, a founding partner of Cresset, will now focus on analyzing and interpreting macroeconomic trends that influence the firm’s investment strategies. Silverman, who joined Cresset in 2024 after its acquisition of CH Investment Partners, will lead the investment team in delivering public and private investment solutions to clients.

Silverman brings more than three decades of experience, including a significant tenure at Crow Holdings, where he helped diversify investment assets beyond real estate.

Hong – who joined Cresset in September last year, succeeding the firm's previous compliance chief Bob Pagliuco – previously held leadership roles at JPMorgan Chase and First Republic Bank.

The latest appointments follow a string of recent hires at Cresset, which reported $71 billion in regulatory assets under management in its most recent Form ADV dated this month.

Earlier this year, the firm brought on Melissa Karetny as chief people officer. Karetny, who most recently worked at JPMorgan Chase, joined Cresset’s management committee to oversee people strategy and talent development.

Last October, Cresset named Jessica Malkin as chief growth officer. Malkin, who has been with the firm since 2019, will continue as chief marketing officer while taking on expanded responsibilities for strategic growth initiatives, digital marketing, and client experience.

The firm also saw a significant departure last month when Kenneth Eyler, managing director of family officer services, left the role to take another managing director position at Emigrant Bank.