NEW YORK, NY (PRWEB) October 15, 2013
Lebenthal Holdings, LLC today announced the launch of Lebenthal Wealth Advisors, LLC (*) a private wealth advisory division that will offer clients independent advice from the highest caliber wealth managers in the nation.
Alexandra Lebenthal, Chief Executive Officer and President of Lebenthal Holdings, LLC, said, “The establishment of Lebenthal Wealth Advisors is a natural progression of our firm, founded by my grandparents in 1925, enabling it to leverage our successful brand and proven capital markets and asset management expertise while forging a new model for entrepreneurial financial advisors.”
Leading this initiative will be two well respected financial services professionals: Jeffrey B. Lane and Frank Campanale. Mr. Lane will be Chairman of the Board of Lebenthal Holdings, LLC, and Mr. Campanale will be Chairman and Chief Executive Officer of Lebenthal Wealth Advisors, LLC. In addition, Andrew Grillo, a former regional director of Smith Barney, will assume the role of President of Lebenthal Wealth Advisors, LLC. James B. Lebenthal will serve as the Chief Investment Officer and Market Strategist, and James A. Lebenthal will be Chairman Emeritus.
Both Mr. Lane and Mr. Campanale have had distinguished Wall Street careers. Mr. Lane was Chief Executive Officer of Bear Stearns Asset Management, Chairman and CEO of Neuberger Berman Inc., and a Vice Chairman of Lehman Brothers. Mr. Lane was previously with Travelers Group as Vice Chairman. Before assuming those responsibilities he had been Vice Chairman of the company's Smith Barney subsidiary, responsible for asset management, mutual funds, international, futures and commodities division.
Mr. Campanale was most recently at First Allied Wealth Management. Before that Mr. Campanale was President and CEO of Smith Barney Consulting Group, where he had responsibility for the investment management consulting business, which was among the largest in the industry with almost $300 billion in private client and institutional assets. His responsibilities included asset management, asset manager research and asset allocation. Prior to that Mr. Campanale was National Director of the consulting group at E.F. Hutton & Co.
“Lebenthal continues to grow the scope of its asset management and broker dealer activities,” Ms. Lebenthal said, “and this venture not only complements our existing platform but will position us for further growth as we take advantage of opportunities in the evolving financial services landscape. I am delighted that we are able to attract such accomplished professionals to drive that growth. Jeff, Frank and Andy are experienced executives who will enhance the Lebenthal brand and reputation for excellence. I look forward to working with them, and all the financial advisors who will be joining Lebenthal.”
“Our goal is simple,” said Jeffrey Lane. “We want to attract the best independent registered investment advisors and entrepreneurial wealth managers from across the nation by providing them with a culture that empowers them to deliver the best service and unconflicted advice to their clients. It is increasingly clear that advisors and clients are not being effectively served by the choices on Wall Street today and are looking for an alternative. A cornerstone of our business is higher payouts for financial advisors, an open platform to a wide array of products, and participation as partners in the firm’s growth and success.”
“Jeff and I share a common vision of supporting advisors in every way possible so that they can do what they do best—service their clients,” said Frank Campanale. “Upon meeting the Lebenthal family, it became abundantly evident that they understood that we are in the people business, and I am very proud to be a partner with the Lebenthals and their legendary brand.”
A passionate supporter of women in business, Alexandra Lebenthal has been named one of New York’s most influential women by Crain’s New York Business, one of the top 50 Women in Wealth Management by Wealth Manager magazine, and in 2011 her firm was named one of Crain’s New York Top Women Owned Businesses and New York’s number one woman-owned financial services company. Ms. Lebenthal is also a member of The Committee of 200, a leading organization for female businesswomen.
(*) Transaction subject to customary regulatory review
About Lebenthal & Co., LLC
Originally founded in 1925, Lebenthal is a woman-owned boutique investment bank, specializing in debt and equity capital markets, asset management and wealth planning through its advisor affiliate. For additional information, visit http://www.lebenthal.com
DISCLOSURE: Lebenthal Asset Management, LLC DBA Lebenthal Wealth Advisors*, LLC, is an SEC Registered Investment Adviser under the Investment Advisers Act of 1940 (“Advisers Act”). Lebenthal Asset Management, LLC DBA Lebenthal Wealth Advisors*, LLC, is a wholly owned subsidiary of Lebenthal Holdings, LLC. Lebenthal & Co., LLC is a Registered Broker-Dealer and Member FINRA, MSRB & SIPC. Lebenthal & Co., LLC, is also a wholly owned subsidiary of Lebenthal Holdings, LLC.