CHICAGO, Oct. 8, 2013 /PRNewswire/ -- HighTower, the nation's destination of choice for entrepreneurial advisors seeking greater independence and practice control, announces the appointment of Michael LaMena as President. He will also remain Chief Operating Officer, a position he has held since August 2011.
This move is one of several executive team changes the firm has implemented to support the growth of HighTower. These include: Michael Parker becoming National Director of the HighTower's combined Enterprise Development and Relationship Management function, where he oversees business and advisor development initiatives; Mike Papedis becoming National Director of Business Development, focusing on growth of the HighTower Omnichannel; and Matthew Camden's appointment as Chief of Staff, serving as a liaison between executive management and departments across the firm. Larry Koehler remains Chief Financial Officer.
"Mike is a natural leader with superb subject matter expertise. He's played a key role managing the complex process of rapid growth with the full trust and confidence of his colleagues and our financial advisors," said Elliot Weissbluth, Chief Executive Officer of HighTower. "He will continue to lead the next phase of our growth as we roll out the Omnichannel and build an industry-leading footprint."
Mr. LaMena succeeds Drew Kornreich, who will shift to a strategic advisor role focusing on corporate finance and strategic M&A activities for the firm while retaining his equity stake in the company. As a founding member of HighTower, Mr. Kornreich was instrumental in developing HighTower from its initial concept to its current position as the largest and most successful of the national RIA firms, as identified by the Cerulli Associates 2013 report, "Boutique Advisory Firms and RIAs Balancing Scale and Independence for Top-Tier Advisors."
"This transition among our executive leadership is part of our evolution and maturity as an organization," said David S. Pottruck, Chairman of HighTower. "It has been a pleasure and honor to watch Mr. LaMena succeed and I have great confidence in his abilities as we enter our next phase of growth."
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HighTower is a national, advisor-owned financial services company serving high-net-worth and institutional clients. HighTower advisors are experienced investment professionals with large and established practices. As a dually-registered, multi-custodial firm, HighTower provides sophisticated investment solutions as well as an independent and unobstructed view of the markets. The company is headquartered in Chicago and maintains corporate centers in New York and San Francisco and offices across the country. See www.hightoweradvisors.com.