Banyan Partners and Silver Bridge Join Forces to Create a Premier National Wealth Management Firm

PALM BEACH GARDENS, Fla. and BOSTON, June 4, 2013 /PRNewswire/ -- Banyan Partners, LLC ("Banyan") and Silver Bridge Advisors, LLC ("Silver Bridge") today announced the signing of a definitive agreement in which Banyan will acquire Silver Bridge. The combined organization will be known as Banyan Partners, LLC and become a leading national, independent wealth management firm in the U.S. with significant internal investment strategies, a deep open architecture platform and approximately $3.4 billion in assets under management. Financial terms of the deal were not disclosed.

"The acquisition of Silver Bridge presents an attractive opportunity for us to broaden our wealth management and family office capabilities while expanding our national footprint. Silver Bridge's multi-family office in San Francisco, CA gives Banyan its first West Coast branch. Having deep roots in the Boston area, I'm especially pleased to increase our presence in this vibrant city," commented Peter J. Raimondi, JD, Founder and CEO of Banyan Partners. "Tom Manning and his team at Silver Bridge have built a premier company and a wonderful team of professionals. We believe their expertise will be invaluable as we enter our next phase of growth."

At the close of the transaction, Banyan will have 8 offices located around the U.S. and 70 employees. Key members of the Silver Bridge management team will become principals and assume senior roles at Banyan including R. Thomas Manning, Jr. who will assume the role of Chief Investment Officer for the combined organization. Michael Blackmon, Banyan's current Chief Investment Officer, will become Executive Director of Portfolio Management and lead a team of 22 portfolio managers.

"Banyan is the optimal partner," said Tom Manning, CEO and CIO of Silver Bridge. "Our shared passion for providing custom investment solutions to our clients makes this combination powerful. It allows us to leverage the deep investment expertise of both organizations and deliver a cutting edge wealth management capability. I could not be more proud to lead the combined investment team into the future and oversee total assets in excess of $4 billion."

Scott Dell'Orfano, Chief Strategic Officer of Banyan Partners, who leads the firm's acquisition team, added, "Banyan's growth strategy is multi-faceted: to continue growth at impressive rates organically and attract synergistic businesses with skilled professionals. Our joint enthusiasm for this transaction speaks volumes about the success of our approach and our shared culture, which emphasizes an unwavering focus on clients and a commitment to delivering best-in-class investment solutions."

Prominent Boston business leader, Ed Eskandarian, had this to share, "As a long-time client and member of Banyan's Board of Directors, I couldn't be more impressed with our CEO, Peter Raimondi, and his ability to execute flawlessly on our strategic growth initiatives. Peter has assembled a remarkably talented and dedicated wealth management team at Banyan. The Silver Bridge transaction is yet another example of Banyan's commitment to add talented professionals, increase the depth of our investment expertise and expand our geographic reach."

The transaction is subject to customary closing conditions and is expected to close in August 2013.

About Banyan Partners
Banyan Partners, LLC is a national, independent investment advisor headquartered in Palm Beach Gardens, Florida, with regional offices in New York City, Boston, Atlanta, Dallas-Fort Worth, Naples, and Coral Gables. Banyan's highly-experienced team of investment professionals specializes in crafting customized portfolios tailored to each client. As an employee-owned, privately-held firm, Banyan offers full transparency and conflict-free advice to high net worth individuals, families, foundations, and institutions. For more information, visit: http://www.BanyanPartners.net.

About Silver Bridge Advisors
Silver Bridge is a boutique wealth management firm based in Boston, MA and San Francisco, CA. For more than 80 years, Silver Bridge and its predecessors have focused on helping successful individuals and families realize their financial goals. The firm offers objective, thoughtful advice and custom solutions aligned with each client's investment, tax, and wealth transfer objectives. All investment advisory services are provided through Silver Bridge Capital Management, LLC, a registered investment adviser and affiliate of Silver Bridge Advisors, LLC and Silver Bridge Family Office Partners, LLC. For more information about Silver Bridge, visit http://www.silverbridgeadvisors.com.

Media Contact:
Kellie Walsh
914-315-6072
[email protected]

SOURCE Silver Bridge; Banyan Partners