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HighTower Nabs Advisors With $1.1 Billion; Launches In Two New Markets

Harriet Davies

23 February 2012

HighTower is bringing in new advisors on both coasts, managing a total of over $1 billion in client assets, and launching offices in Baltimore, MD and Los Angeles, CA.

In Baltimore, Leo Kelly and Brian Grumbach, formerly of Merrill Lynch Wealth Management, join the firm as managing directors and partners. The team currently manages $700 million in client assets and is charged with leading HighTower’s expansion in this new market, the firm said.

Meanwhile, James Hausberg will head up expansionary efforts in the Los Angeles area, having joined the firm as a partner and managing director from The Presidio Group. Hausberg manages $400 million of client assets.

Hausberg joined Presidio in 2005, having held wealth advisory positions at Credit Suisse and Bear Stearns before that.

In January HighTower marked its expansion in the Phoenix, AZ market by hiring a trio to be based in a new office there. The appointments were of James Pupillo, a former institutional and family wealth director of Graystone Consulting at Morgan Stanley Smith Barney, and Brian Hein and David Brasfield.

HighTower is an advisor-owned firm that specializes in high net worth and institutional clients, with headquarters in Chicago and corporate bases in New York and San Francisco.