HighTower's president resigns

HighTower Advisors has a new vacancy at the top, following the departure of company president Michael LaMena. Mr. LaMena resigned to become president and chief operating officer of Bronfman Rothschild, a Rockville, Md.-based registered investment adviser with $5 billion under management. Mr. LaMena, who could not be reached for comment, spent seven years as chief operating officer at Chicago-based HighTower, and had been president and COO since October 2013. HighTower's website, detailing its chain of command, has been updated to reflect the removal of Mr. LaMena's profile. The company said there are no plans to replace Mr. LaMena and that the post would remain vacant. HighTower has nearly $50 billion in client assets, including more than $10 billion added since the start of the year. "We are deeply appreciative of Mike's year of dedication to HighTower and his many contributions to our firm's success; we wish him all the best," the email stated. "At HighTower, change is our business." Bronfman Rothschild did not respond to a request for comment.