Aequitas Capital has hired Brian Rice as executive vice president and partner, as well as president of Aequitas’ wealth management division.

Aequitas Capital has hired Brian Rice as executive vice president and partner, as well as president of Aequitas’ wealth management division, reporting to the firm's chief executive Bob Jesenik.

Rice will drive the growth initiatives for Aequitas' wealth management platform, including the recently-launched Aequitas Capital Partners, and Aequitas’ holding company for acquiring independent RIA firms, Aspen Grove.

He previously worked at KeyBank, where for the past 12 years he was regional president for the states of Oregon, Washington and Alaska. Prior to joining KeyBank, he was vice president and market area manager at Wells Fargo in Portland, OR. He is currently a member of the Federal Reserve Bank of San Francisco’s Portland branch board of directors.

Aequitas launched Aequitas Capital Partners, which is part of its wealth management platform, earlier this year to address the challenges faced by small- to mid-sized RIAs, which it said represent the fastest-growing segment of the investment advisory industry.

"Unfortunately, these firms are often too large to qualify for government-backed small business loans, yet too small to attract private equity firms. We hope to become the dedicated growth partner they need, and provide them with the right resources to grow from a small- to mid-sized firm to a thriving enterprise," Jesenik said previously. 

ACP provides cash flow lending, equity and asset-based lending to help RIAs fund mergers and acquisitions, lift-outs and advisor recruitment.