Firm offers itself to high-net-worth families, foundations in
search of CIO. West Conshohocken, Pa.-based Hirtle Callaghan has
opened an office in Boston to serve present and future clients in
New England. The wealth-management firm's CIO for the region is
former State Street Global Advisors' (SSgA) manager Brian
"We are delighted to welcome Brian to the firm and to have him
lead our growth in New England," says Hirtle Callaghan's CEO
Jonathan Hirtle. "[He] is smart, experienced and sharply focused
on serving his clients' best interests."
In a 16-year career at Boston-based SSgA and Boston-based
investment advisory Pelagos Capital Management, Gary helped
design allocation and investment strategies high-net-worth and
Get in the car
Hirtle Callaghan bills itself as a provider of CIO services to
family offices, endowments, foundations and pension funds.
For ultra-high-net-worth families the difference between Hirtle
Callaghan and most investment-consulting firms is in the depth of
its approach, according to Gray. "A consultant's involvement is
more episodic," he says. "We do everything from asset allocation
and working with the money managers to cash flow and rebalancing
as a full-time CIO. It's like if you're out driving and you ask
for directions. A consultant will give you the directions; we get
in the car with you and take you there."
Many of Hirtle Callaghan's family-office clients are connected
with entrepreneurs "who probably could handle the investment
side" themselves, if they weren't so pressed for time, adds Gray.
Such clients, whether first-generation business
builders or holders of multi-generational wealth, often have
an intrinsic grasp of the CIO concept as it relates to the
management of their own wealth.
Hirtle Callaghan has set up shop in Boston in response to the
requests of several of its large New England-based clients, says
Though Gray isn't bringing a book of business to the table, he
says he's well positioned to glean referrals to previous
contacts. He's also hosting a conference for prospective clients
Hirtle Callaghan has something like $14 billion in assets under
direct supervision. In addition to its headquarters just north of
Philadelphia and the new spot in Boston, it has offices in
Pittsburgh, Atlanta, Chicago and Phoenix. -FWR