Chicago-based investment firm William Blair & Company announced a realignment of its private client business under its investment management operations that manage $47 billion in assets.

Michelle Seitz, head of William Blair Investment Management, will now be responsible for the servicing and growing the private client business.

As a result of the realignment, the firm’s Private Investor Department, Corporate & Executive Services, and open-architecture investment platform – William Blair Select - are now headed by Ms Seitz.

The firm said the addition of private wealth management to institutional asset management and mutual funds under the investment management arm would enable it better to focus on the high net worth and ultra affluent client base.

“This move brings together the full power and synergies of our multiple businesses, harnessing all of the firm’s expertise — including financial advisory and wealth management, and coordinating with investment banking and research — and delivering them in a seamless fashion to the high net worth client and prospect,” said John Ettelson, William Blair president and chief executive officer.

Headquartered in the US, the firm provides investment banking, asset management, equity research, institutional and private brokerage, and private capital to individual, institutional, and issuing clients in offices in Chicago, Boston, Hartford, San Francisco, London, Shanghai, Tokyo, Vaduz, and Zurich.