The firm built a family offices arm last year.

Cresset, the US wealth management and financial services firm, has named Michael Deasey as regional managing director of the Midwest region of the US.

Deasey will lead the firm’s wealth management and family office business. He is joined by Joel Alberts, who has been hired by Cresset to serve as client advisor for the Midwest region.

With more than 30 years’ experience in the sector, previously Deasey was managing director with Abbot Downing of Wells Fargo. He earned a bachelor of business administration degree from the University of Notre Dame and a Juris Doctor from William Mitchell College of Law.

Alberts, meanwhile, was most recently a director with Abbot Downing of Wells Fargo. In addition to managing client relationships, he is experienced in working with closely-held business owners and addressing wealth transfer planning objectives. Alberts earned a Juris Doctor degree from the University of Iowa College of Law and a bachelor of science in business administration from Central University of Iowa.

Cresset built its family office business, led by industry luminary Michael Cole, in the summer of last year (see an interview by Family Wealth Report here). Cresset was founded by private equity entrepreneurs Eric Becker and Avy Stein.