Margaret Towle was named partner and managing director at HighTower Advisors.
The position is new. She will report to CEO Elliot Weissbluth.
Ms. Towle was managing director and head of research at Greycourt & Co. since 2008. Greycourt officials did not return a message about Ms. Towle's replacement.
Ms. Towle will work with a select number of endowments, institutions and ultra-high-net worth individuals, providing strategic and tactical asset allocation and investment strategies, she said in a telephone interview. She also will serve on HighTower's group investment services steering committee, which oversees the firm's broad investment capabilities, including traditional and alternative investment offerings, investment consulting and research.
“I see four trends really sweeping the investment advisory industry,” Ms. Towle said, citing increased volatility, rapidly changing global markets, increased regulation and CIO outsourcing. “I thought it really made sense to have access to more intellectual capital. HighTower really fit the bill in that regard.”
Ms. Towle said she doesn't comment on her clients, but a HighTower news release said she brings over her client base with more than a combined $1 billion in institutional and wealth management assets under management.
Before moving to Greycourt, Ms. Towle was chief investment officer at Northern Trust Global Advisors.
HighTower has about $20 billion in assets under management for institutional and high-net-worth clients.