Ex-UBS wealth chief Tom Naratil joins Lightyear Capital

Ex-UBS wealth chief Tom Naratil joins Lightyear Capital
Naratil, a 39-year veteran of UBS, last fall stepped down from his senior roles at the wirehouse.
JUL 24, 2023

Tom Naratil, a former senior executive at UBS, is back in the wealth management industry, this time as an operating partner for a fund managed by Lightyear Capital, a private equity manager that has long focused on private investments in wealth management shops and broker-dealers.

Naratil, a 39-year veteran of UBS dating back to its Paine Webber incarnation, last fall stepped down from his roles as co-president of global wealth management and president of UBS Americas.

"We have known Tom for a long time and are thrilled that he selected to work with Lightyear," Mark Vassallo, managing partner at Lightyear Capital, said in a statement Monday.

At the start of May, Bloomberg News reported that UBS Group Chief Executive Sergio Ermotti had tapped Naratil to be a key member of the new management team, citing a report published by a Swiss newspaper, but that never came to pass.

Last month, UBS Group completed its acquisition of Credit Suisse Group and announced the various teams that will lead the bank’s businesses, including global wealth management.

Lightyear has a history of investing in wealth and asset management. Its current investments include Allworth Financial, Cerity Partners and Wren Sterling. In the past, it has invested in Advisor Group, Cetera Financial Group, Clarion, Ridgeworth Financial and Wealth Enhancement Group.

What's driving the boom in active ETFs? Will it last?

Latest News

SEC bars ex-broker who sold clients phony private equity fund
SEC bars ex-broker who sold clients phony private equity fund

Rajesh Markan earlier this year pleaded guilty to one count of criminal fraud related to his sale of fake investments to 10 clients totaling $2.9 million.

The key to attracting and retaining the next generation of advisors? Client-focused training
The key to attracting and retaining the next generation of advisors? Client-focused training

From building trust to steering through emotions and responding to client challenges, new advisors need human skills to shape the future of the advice industry.

Chuck Roberts, ex-star at Stifel, barred from the securities industry
Chuck Roberts, ex-star at Stifel, barred from the securities industry

"The outcome is correct, but it's disappointing that FINRA had ample opportunity to investigate the merits of clients' allegations in these claims, including the testimony in the three investor arbitrations with hearings," Jeff Erez, a plaintiff's attorney representing a large portion of the Stifel clients, said.

SEC to weigh ‘innovation exception’ tied to crypto, Atkins says
SEC to weigh ‘innovation exception’ tied to crypto, Atkins says

Chair also praised the passage of stablecoin legislation this week.

Brooklyn-based Maridea snaps up former LPL affiliate to expand in the Midwest
Brooklyn-based Maridea snaps up former LPL affiliate to expand in the Midwest

Maridea Wealth Management's deal in Chicago, Illinois is its first after securing a strategic investment in April.

SPONSORED How advisors can build for high-net-worth complexity

Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.

SPONSORED RILAs bring stability, growth during volatile markets

Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.