How HighTower’s executive shuffle, kicking CEO Elliot Weissbluth upstairs, opens door for new talent and paves way for Thomas Lee-fueled acquisitions splurge
Louis Diamond Quoted
By Oisin Breen
Elliot Weissbluth is the new chairman of HighTower Advisors, and the final selection of a CEO to replace him is imminent.
As chairman, the longtime founding CEO will be charged with duties more akin to head of brand and M&A, with the goal of reducing his operational duties. The new CEO will assume HighTower’s day-to-day management.
It’s a strategy that gives them a deep and captive acquisition pool, says Louis Diamond, principal of Diamond Consultants in New York.
“They can be a platform, and also be a very well capitalized acquirer,” he explains.