SCS Financial, a wealth and investment management firm catering to ultra-high-net-worth families and institutions, has announced its new CIO.
The Focus Financial partner firm announced Lane MacDonald as its new chief investment officer, effective July 1, on Monday.
MacDonald, who’s also coming on board as chair of the SCS Investment Committee, brings nearly 30 years of experience in financial services, having advised clients and investment teams extensively. His appointment is aimed at enhancing SCS Financial's investment platform and leadership to better serve its clients.
Based in Boston, MacDonald will lead a team of approximately 20 investment professionals spanning various asset classes in the development, execution, and oversight of the firm's investment strategies.
He’ll be responsible for overseeing asset allocation, tactical adjustments, portfolio construction, and manager selection, as well as enhancing the suite of investment offerings SCS provides its clients.
Tony Abbiati, co-founder and chief executive officer of SCS Financial, commended his firm’s new C-suite hire as “an immensely talented and respected leader who’s built a reputation for delivering outstanding results.”
“As we continue to deepen the power of SCS’ investment platform, Lane will be instrumental in strengthening our capabilities and further enhancing our investment strategies and philosophies,” Abbiati said in a statement.
MacDonald joins SCS Financial from FMR Diversified Investments, where he managed the investment portfolio for the owners of Fidelity as president and CIO. That role saw him lead the investment team's efforts across various asset classes including private equity, public equity, natural resources, and real estate.
Before that, MacDonald held leadership roles at Harvard Management Company, overseeing more than $7 billion of investments globally in both private and public markets.
In addition to his new roles as chief investment officer and chair of the SCS Investment Committee, MacDonald will join the SCS Management Committee, where he will help shape the firm’s broader vision and strategy in close collaboration with leaders across all areas as well as with Focus Financial Partners' leadership.
“I look forward to being a part of a dynamic, integrated organization and to collaborating with teams across SCS to drive further progress and meaningful results for our clients,” MacDonald said.
Insiders say the Wall Street giant is looking to let clients count certain crypto holdings as collateral or, in some cases, assets in their overall net worth.
The two wealth tech firms are bolstering their leadership as they take differing paths towards growth and improved advisor services.
“We think this happened because of Anderson’s age and that he was possibly leaving,” said the advisor’s attorney.
The newly appointed leader will be responsible for overseeing fiduciary governance, regulatory compliance, and risk management at Cetera's trust services company.
Certain foreign banking agreements could force borrowers to absorb Section 899's potential impact, putting some lending relationships at risk.
How intelliflo aims to solve advisors' top tech headaches—without sacrificing the personal touch clients crave
From direct lending to asset-based finance to commercial real estate debt.
