HighTower, an open-source adviser-owned financial services company, has appointed Michael LaMena as its chief operations officer.
LaMena is an industry veteran with extensive experience managing the operations of global wealth management platforms.
"HighTower’s distinctive multi-clearing and multi-custodial approach to financial services rests upon our unique operational structure and ability to continue attracting exceptional talent and intellectual capital to the firm," says Elliot S. Weissbluth (pictured), HighTower’s chief executive. "Michael’s deep knowledge and background in supporting ultra-high net worth business represents precisely the calibre of leadership that HighTower is committed to developing."
LaMena will oversee HighTower’s Open Source platform and Host (HighTower Open Source Technology) portal, as well as the firm’s trading capabilities and enterprise relationships with the Street’s trading, clearing, and custodial firms. He will report to Weissbluth.
Previously, LaMena spent 14 years at Morgan Stanley. His most recent position there was as executive director of private wealth management operations in New York, where he oversaw the operations division supporting Morgan Stanley’s ultra-high net worth wealth management business. Prior to that, Mr. LaMena was Morgan Stanley’s executive director of private wealth management for Asia in Hong Kong.
HighTower has also expanded its Northern California presence with the addition of Barnaby Levin as a managing director and partner of the firm. Levin will be based in HighTower’s San Francisco corporate offices. Previously, he was a director of wealth management at Morgan Stanley Smith Barney. Levin specialises in applying a thematic investment style toward achieving total return over specified time horizons. He serves on the board of Stanford University’s Institute of Economic Policy Research.