Two of the independent wealth management sector's most relationship-driven firms have moved to strengthen their senior ranks, with Cresset and Callan Family Office each announcing new hires aimed at deepening service to ultra-high-net-worth clients.
Cresset, the multi-family office and private investment firm, has named Mark Ostroff as managing director and wealth advisor, based in its New York office.
Cresset has grown in part by recruiting senior practitioners from large institutions, and Ostroff fits that profile. The firm said he will focus on building and cultivating advisory relationships with ultra-high-net-worth individuals, family offices, entrepreneurs, and privately held business owners.
"Mark brings an incredible depth of experience and an extraordinary network of relationships to Cresset," said Paul Tramontano, executive managing director at Cresset. "He has worked with a large number of entrepreneurs, general partners, and successful family groups across the United States."
Before joining Cresset, Ostroff served as managing director at Evoke Advisors, where he concentrated on complex investment strategies for sophisticated clients. Evoke Advisors was acquired by MAI Capital last year in a mega-merger of equals that resulted in a $60 billion AUM firm.
Earlier in his career, he built and later sold multiple asset management businesses, including Graystone Partners, each centered on manager selection, portfolio construction, and direct investment.
Ostroff started out at Price Waterhouse and went on to hold senior advisory roles at Goldman Sachs, Morgan Stanley, and Kidder Peabody, where he led the firm's Asian investment banking office in Hong Kong. In all, his career in the financial services industry spans 35 years.
"Cresset has built its reputation as a trusted partner to family offices and UHNW investors by delivering the depth and breadth of services that few other firms can," Ostroff said. "I am so honored and excited to bring my experience and relationships to build upon Cresset's stellar reputation."
Ostroff's arrival at Cresset extends a string of director-level moves at the firm, including the appointment of MeMe McNairy-Glenn as managing director, National Strategic Growth in March and its announcement of Mark Thompson as executive managing director, Institutional Consulting that same month.
Separately, Callan Family Office, which caters to ultra-high-net-worth families, family offices, foundations, and endowments across the United States, has brought on George Burnette as director of philanthropic consulting and wealth.
The Philadelphia-based firm said Burnette will advise individuals, families, and family enterprises on the intersection of philanthropy, wealth strategy, and long-term legacy planning. He will also work with nonprofit organizations on governance, planned giving, and fiscal stewardship.
Burnette arrives from First Citizens Bank & Trust, where he served as vice president and philanthropic strategist, playing a central role in building out the bank's national charitable advisory platform.
His background spans more than a decade across legal, financial services, and nonprofit advisory roles – an increasingly valued combination at multi-family offices as wealthy clients look to integrate giving strategies with broader estate and tax planning.
Read more: AI, trust, and the human edge: Why charitable engagement is a competitive advantage for advisors
"George brings a rare combination of legal, financial, and nonprofit expertise that will allow us to deepen our capabilities and deliver more integrated guidance to the families and organizations we serve," said Amy Jucoski, chief family officer and founding partner of Callan Family Office.
Burnette underscored the role of "strategic philanthropy [as] a core discipline to any organization that manages the complexity of multigenerational wealth."
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