Robertson Stephens is reopening operations as a wealth management shop with financial support from the private equity firm Long Arc Capital. The firm, which earlier did business as Robertson Stephens Advisors, says that both advisors and management can obtain equity interest in the company as part of its new business plan.
The RIA traces its 40-year business history to investment banking and was among the top underwriting firms during the heyday of technology stocks. It now has five financial advisors, about $500 million in client assets and offices in San Francisco and New York.
“The wealth managers, management and Long Arc have a shared commitment to the long-term success of this firm and its clients,” according to Robertson Stephens CEO and Chief Investment Officer Stuart Katz, the former president of the family office Heyman Enterprise and previously a managing director at Goldman Sachs.
“As we reinvent wealth together, we’re cognizant that wealth is more than just financial assets. It includes legacy, family, relationships, reputation and, ultimately, well-being,” Katz explained. “In sum, we support clients and advisors in achieving their goals with confidence and ease.”
Some members of the management team invested in the business earlier in 2018.
Other Robertson Stephens executives include:
- CFO David Westbrook, former CFO of Rockefeller & Co., an $18 billion investment advisory firm;
- COO Vikram Chugh, former director at BlackRock Solutions and Corporate Strategy & Development;
- CCO Mike Curley, former CCO of First Republic Securities, overseeing more than 600 licensed registered representatives;
- Chief of Business Development John Murray, founding member of Advance Venture Partners, previously at GCA Corp., and formerly at Robertson Stephens; and
- Head of alternatives Ren Riley, former general partner at Oak Investment Partners and formerly at Robertson Stephens.
The wealth management team leaders are Jeanette Garretty, Danny Rozansky, Michael Tierney and Michael Zaninovich.
Garraty, now managing director and principal, was Bank of America’s chief domestic economist (1979-1999) and later became an advisor with Wells Fargo (2003-2014), before joining Robertson Stephens Advisors in 2014.
Rozansky, managing director and head of financial planning, joined Robertson Stephens Advisors in 2014 after working at Wells Fargo Private Banking for 12 years. Earlier, he was with myCFO and Arthur Anderson as a tax manager.
Tierney, managing director, came on board Robertson Stephens in 2013, while Zaninovich —also a managing director — has served as chief investment officer of Robertson Stephens Advisors for more than four years; Zaninovich was a senior vice president and senior investment strategist at Wells Fargo from 2006 to 2014; earlier, he worked for Argonaut Capital, Delphi Investors and Bodri Capital Management.
“The wealth management industry will undergo significant changes due to evolving demographic trends, customer expectations and technology advancements,” said Gaurav Bhandari, managing partner of Long Arc Capital, in a statement. “The team at Robertson Stephens has created a wealth management offering with an excellent value proposition for both clients and advisors in the marketplace.”