Michael DiBiasio, the longtime Morgan Stanley executive who was tapped by Hightower Advisors as chief operating officer in April 2024, has left the firm.
Several financial news outlets including CityWire and WealthManagement reported the development this week, citing the fact that DiBiasio now no longer appears on the firm's Form ADV nor on its website.
Hightower has not yet responded to a request for comment about the news, but ThinkAdvisor has confirmed his absence in the firm's latest regulatory filings.
DiBiasio joined Hightower at the same time as Gurinder Ahluwalia — a financial services and fintech veteran who earlier led AssetMark and Genworth Wealth Management — was hired as president.
Both joined the firm a few months before Larry Restieri, an executive who headed a Goldman Sachs financial planning firm for employees in company-sponsored plans, was named as Hightower's next chief executive officer and board member, succeeding Bob Oros.
The CEO transition was completed in June of last year. In the time since, Restieri has made several changes to the firm's senior leadership team, including hiring former BlackRock executive Patrick Dunne as head of operations and services.
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