These have been busy times at the Chicago-headquartered organization.

Cresset, the US wealth manager which recently saw a change at the top, yesterday said it has brought in two advisory teams into its San Francisco office, collectively in charge of about $5 billion of client money.

The teams previously worked at JP Morgan Wealth Management, and prior to that First Republic Bank (the latter lender was bought by JP Morgan last spring as part of a rescue package at the behest of the US government). 

The two teams comprise three lead advisors and 12 supporting financial professionals, Chicago-headquartered Cresset said. 

The team members are Dagny Maidman (who leads it); Timothy Cahyadi; Steve Ching; Christopher Fisher; Michelle Gorrell; Patrick Hejlik; Andrew Huang; Beatrice Maidman; Gia Llorin Rojas; Alana Yokoyama; Chris Chase; Erik Ralston; Lizzy Labeeuw-Anderson; Ryan Ortiz; and Timur Zeinapur. 

There have been recent changes at Cresset. In February, RIA investment banker Liz Nesvold resurfaced as chair of Emigrant Partners, one of the industry’s prominent minority investors. She had been Cresset president for eight months. 

The firm, which is a multi-family office and private investment firm with over $5 billion in assets as of January 4, this year, has been the subject of intense industry speculation regarding the sale of a stake in the firm.

Cresset provides services via Cresset Asset Management LLC. Cresset Partners, its private investing group, offers clients direct access to real estate, private equity, private credit, and other investment opportunities. The RIA was founded by former private equity executives Eric Becker and Avy Stein.