The multi-family office, which oversees more than $7 billion of assets, has unveiled the new chief executive as his predecessor prepares to depart the role.
Pitcairn has announced that Andrew L Busser, president at the family office, is taking the CEO role from Leslie Voth who will be continuing as chairman of Pitcairn Trust Company. The transition has been planned for some time, the firm said.
Busser’s appointment takes effect from November 16.
In December 2021, Voth told the board she wished to retire at the end of this year. The board decided to look for a successor internally and Busser quickly became the leading candidate.
Busser has large shoes to fill. Pitcairn’s roster of clients has grown to more than 120 multi-generational families, including 22 single-family offices, and Voth led the development of Wealth Momentum®, a family office service model.
"Leslie is an incredible visionary and her contributions to this firm over the last 30 years are invaluable," Clark Pitcairn, chairman of Pitcairn Company, the holding company, said. "I had the privilege of hiring her, helping her grow, and watching her journey to become the leader she is today."
"She was the first female CEO and chairman of the board and the first non-Pitcairn family member to serve as chairman. Her passion for our clients and our employees is infectious and under her leadership, Pitcairn is in its best position in 100 years," he continued. "We're excited to have Andy take the CEO role and provide the continuity that is so important to our clients as he leads the next phase of growth."
Before joining Pitcairn in 2015, Busser was a partner at Symphony Capital, a healthcare-focused investment manager of private equity and hedge funds.
Pitcairn was established in 1923, with origins dating back to 1883, when John Pitcairn founded the Pittsburgh Plate Glass Company, now known as the Fortune 500 Company PPG Industries. Today’s firm, a multi-family office, incorporated as a trust company, has 73 employees, of whom 49 per cent are women. It has more than $7 billion in advised assets, and offices in Philadelphia, New York, Washington, DC, and a presence in Florida.