HighTower Grabs $1 Billion Credit Suisse Team

HighTower announced Monday that the $1 billion Chicago-based Dillig Bowen Group from Credit Suisse has joined the advisor-owned financial services company, making it the eighth new team to be added this year.

Dillig Bowen Group principals Matt Dillig and Ted Bowen will work out of HighTower’s Chicago headquarters as partners and managing directors. With 22 years of combined experience in the financial services sector, Dillig and Bowen manage assets for ultrahigh-net-worth families. Dillig was named one of the Top 1,000 Advisors by Barron’s in 2012 and 2011.

“Matt and Ted are exactly the type of dynamic, innovative advisors who realize that HighTower is the only firm that can provide their clients the highest-caliber independent advice to meet their financial goals,” said Mike Papedis, HighTower’s executive vice president of business development, in a statement. “They share our commitment to serve as fiduciaries, free of the conflicts that limit the ability of advisors to put their clients’ interests first.”

The pair had worked for Credit Suisse since 2008. Before then, they were part of Merrill Lynch’s Private Banking and Investment Group.

“We hold our commitment to serve as the chief investment advisor of every family we work with in the absolute highest regard,” Dillig said in a statement. “Through their cutting-edge platform, HighTower has leveraged the competitive power of Wall Street to provide our clients with the full universe of investment products to meet their high standards.”