A wealth management advisor has hired custody bank Northern Trust Global Advisors chief investment officer after a two-year search to boost its team of managing directors and pave the way for a New York office, The Wealth Bulletin reports.
Greycourt has hired Margaret Towle for its Portland, Oregon office. She will be responsible for developing asset allocations for high net worth portfolios for Greycourts family office and endowment clients.
Towle, who has 25 years of investment management experience, launched Northern Trust Global Advisors alternative investment business and managed asset allocations. She previously worked as a managing partner for Mcube Investment Technologies where she provided portfolio management technology solutions for institutional investors globally.
The hiring of Towle is part of a plan to double Greycourts team of managing directors from 10 to 20 in the next five years, according to Gregory Curtis, the chairman.
Curtis says it wants to open a New York branch soon because it represents its single biggest client base. Before the markets turned, it was hard to dislodge people. After [the credit crunch] its been easier. We would open a New York office tomorrow if we had the right person.
Greycourt is based in Pittsburgh, Pennsylvania, and in addition to Oregon, has offices in North Carolina and Texas.