Seth Merrill has been named chief investment officer of Crewe Advisors, a Salt Lake City-based wealth manager and multifamily office, effective May 5, according to a news release.
He will be responsible for leading investment activities at the firm, which has more than $2.5 billion in assets under management. Crewe provides financial, estate, investment, risk and philanthropic-planning services for clients, including charitable foundations. Its philanthropic arm, Crewe Foundation, also supports donor-advised funds and charitable trusts.
Merrill was co-director of portfolio strategy at Ensign Peak Advisors, the investment arm of the Church of Jesus Christ of Latter-day Saints, widely known as the Mormon church. Ensign Peak had close to $56.3 billion in assets under management as of Dec. 31, according to a 13F holdings report filed Feb. 14. The Mormon church’s investment portfolio had roughly $206 billion in assets, according to an analysis by The Widow’s Mite, a research firm focused on the Salt Lake City-based church’s finances.
Ensign Peak and the church could not be reached immediately for more information.
Merrill also previously held roles at San Diego-based manager Brandes Investment Partners as well as Cederian Investments, a firm he founded.
“Joining Crewe was a natural decision for the next step of my career because of the exceptional quality of the people, the expert yet deeply personal way advisers engage with clients, and the firm’s steady growth trajectory,” Merrill said in the news release.
Merrill succeeds Dustin Thackeray, as CIO, a spokesperson said in an email.
Additionally, the firm announced in the news release that Thackeray was promoted to head of portfolio management, a new role, effective immediately. He will also continue to serve as a partner, a role he has held since joining Crewe at its founding in 2015.
Among his responsibilities, Thackeray will be responsible for the execution and implementation of investment strategies.
