Hightower Announces Successor to CEO Bob Oros: Goldman Sachs’ Larry Restieri
Larry Restieri
In a planned leadership transition, Hightower Advisors announced that Larry Restieri will become its next chief executive officer and a member of the board of directors, effective in spring 2025.
Restieri will succeed Bob Oros, who has served as Hightower’s CEO since 2019. Oros will remain a member of the board, ensuring strategic continuity and a seamless transition for the firm’s growing client base.
“I am honored and excited to join Hightower at this pivotal moment,” said Restieri. “Under Bob’s leadership, the firm has built an incredible reputation as a leading partner for independent advisers, providing them with the tools and resources needed to succeed. I look forward to working with the talented Hightower team, our advisers, and the board, including Bob.”
Hightower manages approximately $156 billion in client assets.
Restieri brings extensive experience in wealth management, having served most recently as CEO of AYCO, a Goldman Sachs company, which specializes in workplace financial planning and private wealth advisory services. Since 2018, Hightower said he played a key role in modernizing [AYCO’s] offerings and deepening its client relationships. Prior to leading AYCO, Restieri spent more than two decades at Goldman Sachs in a variety of leadership roles, focusing on wealth and asset management.
The planned succession marks Hightower’s entrance into its next phase of growth, building on the firm’s transformation and expansion under Oros, who oversaw more than 50 merger and acquisition transactions, including the addition of NEPC, an institutional investment consultancy, and grew assets under advisement from $57 billion to $1.8 trillion.
“Larry is an exceptional leader who brings deep familiarity with the wealth management landscape and a strong commitment to serving advisers and their clients,” said Oros. “I am incredibly proud of the progress we’ve made at Hightower over the past six years, and I have full confidence that under Larry’s leadership, the firm will continue to thrive. I look forward to supporting him and the Hightower team as a board member and adviser.”
“Bob has been an outstanding leader, guiding Hightower through a period of transformational growth, and we thank him for all of his contributions,” said Ganesh Rao, managing director and head of financial technology and services at THL Partners, the firm’s majority investor. “We are excited to welcome Larry as the next CEO of Hightower.”
Based in Chicago and with financial advisers across the United States, Hightower is a wealth management firm that provides investment, financial, and retirement planning services to individuals, foundations, and family offices, as well as 401(k) consulting and cash management services to corporations.
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