Emigrant Builds Out Family Office Capabilities With Acquisition

Tom Burroughes

5 March 2026

Emigrant Bancorp, parent of Emigrant Bank, is acquiring a majority interest in Fortis Management Group, based near Boston, Massachusetts. Fortis provides family office services to ultra-high net worth individuals and families.

Emigrant’s purchase of the business coincides with its launch of Emigrant Family Office – a business unit affiliated with Emigrant Bank. The platform is designed to deliver a specialized, non-investment suite of family office capabilities to ultra-wealthy families and RIAs, it said in a statement this week.

Such a deal has taken place against a background of busy wealth management sector M&A, including the family offices area.

The Fortis acquisition – for an undisclosed sum – is expected to close in April 2026.

Fortis, founded and led by CEO Jay Goldfarb, will serve as the cornerstone of the new division.

Fortis team brings a 14-person team to expand Emigrant’s services for owners of significant wealth, Emigrant Bank said.

Emigrant Bank, with has a history dating to 1850, is run by the Milstein family. Across its affiliated businesses, it supports UHNW families and RIAs through operating businesses including New York Private Bank & Trust, Emigrant Partners, Emigrant Bank Fine Art Finance, Personal Risk Management Solutions, Cleveland Private Trust Company, Sarasota Private Trust Company, and others.

The Milstein family also operates Summitas, a private family office platform.

“Our investment in Fortis is highly strategic and reflects Emigrant Bank’s long-standing commitment to building the industry’s premier family office platform,” Liz Nesvold, executive chair of Emigrant Family Office and vice chair of Emigrant Bank, said.

Emigrant Family Office’s leadership includes Mark Rogozinski, president, and Ken Eyler, MD, who joined Emigrant in 2025. Rogozinski and Eyler will partner with Goldfarb, who will join the leadership team as MD.

“We are seeing a meaningful acceleration in the number of RIAs looking to build or scale family office capabilities as they move upmarket,” Rogozinski said. “Over the past year, we’ve worked closely with the RIAs across the Emigrant Partners portfolio to understand where they see the greatest opportunities – and the greatest gaps.”