RIA wrap: Northern Trust taps State Street Bank alum for OCIO strategy, Dynasty partner firm adds new managing director

It's been a busy first week of June in the RIA world, with big moves at some of the most active acquirers and mega-RIAs.

But the action hasn't just been in the mergers and acquisitions space, as three firms have also announced significant additions to their leadership and advisory bench.

Northern Trust establishes new OCIO role

Northern Trust has named Katherine McCabe to lead its OCIO strategy within its Asset Servicing division. In this new role, McCabe is tasked with building relationships with outsourced chief investment officer firms and the broader investment consultant community.

She reports to Melanie Pickett, head of asset servicing for the Americas.

"By tapping into [Pickett's] wealth of knowledge, we can craft innovative solutions that address the distinct needs of OCIOs and their clients," McCabe said in the release announcing the appointment. 

Northern Trust is committed to building stronger relationships with the OCIO community, Pickett said. By tapping into her wealth of knowledge, we can craft innovative solutions that address the distinct needs of OCIOs and their clients.

McCabe brings more than three decades of experience in the asset owner segment, having most recently led US asset owner and Canadian sales at State Street Bank & Trust. She previously held senior roles over 25 years at Bank of New York Mellon, with responsibilities in sales, strategy, consulting relations and performance analytics.

Northern Trust, which was founded in 1889, reported $16.9 trillion in assets under custody/administration and $1.6 trillion in assets under management as of March 31.

Since last year, the firm has made several key leadership hires, including a new COO and hiring a new director of charitable giving solutions, as it embarked on its "One Northern Trust" strategy.

Dynasty firm Nordwand Capital welcomes new HNW advisor

Meanwhile, Nordwand Capital has brought on Douglas DeLong as managing director and financial advisor. A veteran of Fiduciary Trust, DeLong brings more than 20 years of experience in developing trust and investment solutions for multigenerational families. At his previous firm, he managed $700 million in assets for high-net-worth clients.

"Doug has built a reputation for delivering sophisticated investment and estate planning advice with a high level of personal attention," said Jim Martin, chief executive of Nordwand Capital.

DeLong joins the $4 billion multifamily office and RIA as it continues expanding advisory and estate planning services. He is based in the firm’s headquarters in Radnor, Pennsylvania, and works closely with its advisory and client service teams. Nordwand is part of the Dynasty Network and uses the Dynasty Financial Partners platform.

Delong is Nordwand Capital's second hire from Fiduciary Trust in as many months, following its May recruitment of industry veteran Patrick McGinnis Jr.

Withum Wealth Management adds four-decade veteran to C-suite

In another appointment, Withum Wealth Management has named Henry Mercer as its new chief investment officer. Mercer brings more than 45 years of experience to the role, having most recently served as president of Mercer Capital Advisers, which he founded in 1999. He retired briefly in 2022 but continued to invest privately.

Withum Wealth was founded by Pinnacle Associates, a multi-billion dollar investment advisory firm serving high-net-worth individuals and families, institutional investors and other financial institutions.

Earlier in his career, Mercer founded and led Mercer, Bokert, Buckman & Reid, where he was responsible for the firm’s advisory division. His career began in 1979 at Tucker, Anthony, and R.L. Day.

"Henry’s extensive background and leadership in the investment advisory industry make him an exceptional addition to our team," said Scott Brown, president of Pinnacle Associates, which co-founded Withum Wealth.

"Withum Principal Jim Ferrare is a longtime friend and I've admired the firm’s growth over the years," Mercer said in a release. "It's an honor to now be part of that story."