Family-office service provider brings in former Osprey Partners executive. Silvercrest Asset Management Group, a firm that provides investments and family-office services to the ultra-wealthy, has put former Allen Gray, formerly a managing partner of Osprey Partners Investment Management, in charge of institutional sales and consultant relations in a bid to expand its footprint outside the private-client space.

Hybrid

Gray, a 25-year veteran of the financial-service industry, served on Shrewsbury, N.J.-based Osprey Partners' management committee and helmed the Osprey Concentrated Large Cap Value Equity Fund. Before that he was responsible for sales, marketing and client relations at Wayne, Pa.-based Radnor Capital Management (now part of Bank of America's U.S. Trust). He started his career as a financial advisor with Kidder Peabody (now part of UBS's U.S. retail brokerage) before moving on to Wheat First Wachovia Securitieswhere he continued as a financial advisor to private and institutional clients.

New York-based Silvercrest has almost $10 billion in assets under management and administration, mainly for non-institutional investors. Its approach to investment management combines in-house with non-proprietary products.

Vulcan Capital, a Seattle-based private-investment firm owned by Microsoft co-founder Paul Allen's holding company, has a "significant" minority equity stake in Silvercrest. -FWR

Purchase reproduction rights to this article.