The Presidio Group LLC, a capital advisory firm with nearly USD4 billion in client assets, has named Thomas V Smith, an investment industry veteran with 27 years experience, as a Managing Director in its Capital Advisors unit. Smith will open a Chicago office for the firm.
“We wanted a Chicago office to better serve what we believe is an outstanding market with sophisticated entrepreneurs and institutions throughout the Midwest who are interested in the quality advice and services our firm offers,” says Brodie Cobb (pictured), CEO of The Presidio Group LLC. “We met Tom through mutual acquaintances. After long discussions, we found that we held shared values for putting client interests above all others. We are fortunate to add someone to our team with such a distinguished record, who’s held in the highest regard by his colleagues and competitors. I’m delighted Tom has joined our firm.”
Smith was most recently a Senior Vice President in the Personal Financial Services unit of The Northern Trust Company. He served as Managing Director of Family Wealth Services and was a member of the Executive Management Team for the bank’s Wealth Management business. He held a series of significant positions with the bank, after joining it in 1994. Before Northern Trust, Smith held positions with The Chase Manhattan Bank, Advisers Capital Management, and GE Capital Corporation.
“After 18 years, you only decide to leave a fine organisation like Northern Trust for a team as incredible as The Presidio Group,” says Smith. “Over the past several years, I’ve been fortunate to have a front-row seat to the rapid evolution of the wealth management service model. Today’s clients, at all levels of wealth, are educated and focused on obtaining the specific expertise that their advisor brings to the table.
“What Presidio delivers to every client is usually available only to those with USD100 million or more at larger organisations. Its model is straightforward: deliver preeminent research and truly objective advice to clients, and avoid the conflicts of managing money and selling products that often plague banks, brokerages, and investment firms.”
Smith will be joined in the Chicago office by Dan Keck, who joined Presidio three years ago from Morgan Stanley Private Wealth Management. Keck was previously a commander in the US Navy where he served as a carrier-based F/A-18 pilot, after graduating from the Navy Fighter Weapons School (TOPGUN). Keck earned his MBA from The Wharton School, University of Pennsylvania and a B.S. degree in mechanical engineering from the US Naval Academy.
The Presidio Group’s Chicago office will open later this month at 155 North Wacker Drive (the E&Y Building). Mark Palmer, head of The Presidio Group’s Capital Advisors unit, said that the firm expects to hire additional advisors and staff for the Chicago office over the next 12-18 months.