Lockwood Refugees Start New Managed Account Firm

Tuesday, September 06, 2011 07:17
edit
Lockwood Refugees Start New Managed Account Firm

Tags: asset management | pershing

Top staff from $200 billion managed account vendor Lockwood Partners have jumped from that firm to start their own company, and the assets are already pouring in.

This Website Is For Financial Professionals Only


 

CEO and co-chief investment officer Donald Robinson is telling reporters "it's a time when a lot of good companies are hatched."

 

 

That's why he and several other C-level executives from Lockwood started Palladiem Partners to do much the same thing that Lockwood does now, only on an independent basis.

 

Lockwood started life as an independent vendor of third-party investment advice and solutions for RIAs and various types of captive advisor.

 

But Bank of New York bought it about a decade ago and folded it into Pershing. 

 

By this point, Lockwood's reach has been expanded through Pershing's ongoing acquisitions -- most recently PNC GIS -- but its brand has been diluted.

 

As of April, it managed $208 billion under the "Pershing Managed Account Solutions / Lockwood Advisors" brand.

 

Robinson and team claim they have so many prospects that they'll be running $200 to $300 billion by the end of the month.

's a time when a lot of good companies are hatched.”

 

Comments (0)

Write comment

You must be logged in to post a comment. Please register if you do not have an account yet.

busy