Cresset recruits to meet wealth management demand

The investment advisory firm adds Gabriel Garcia and Matt Mongia to the team.

Investment advisory firm Cresset Asset Management adds to the corporate development and private capital team to meet the growing activity in the wealth management M&A space.

PRESS RELEASE

CHICAGO – May 26, 2021 –  Cresset announced today that it has hired Gabriel Garcia as Managing Director, Corporate Development; and Matt Mongia as Managing Director, Private Capital. Both Garcia and Mongia add deep expertise in the wealth and asset management industries to Cresset’s inorganic growth and private investing capabilities and will work closely with Cresset’s Co-Founders Eric Becker, Avy Stein, and Chris Boehm. Garcia will lead Cresset’s Corporate Development team and will focus on partnering with culturally compatible RIAs, as well as identifying advisor teams seeking to join an independent and employee-owned firm. Mongia will source, structure, and lead investments for Cresset broadly, with particular focus on minority investments in growing RIAs and asset management businesses.

Garcia most recently served as Managing Director, Head of Business Management & Strategy for E*Trade Advisor Services, where he was responsible for leading client experience, creating the governance and control environment, and developing the branding and marketing strategy for the RIA custody marketplace. Prior to that role he was Managing Director, Head of Relationship Management and Business Consulting for Pershing Advisor Solutions. Garcia earned a bachelor’s degree in finance from Radford University.

“I am thrilled to join Cresset and introduce talented RIAs and advisor teams to Cresset and the access it provides to advanced technology and marketing resources. At Cresset, all advisors are owners in the firm and can achieve scale quickly through a robust infrastructure and expert team that exist to support advisors in their fiduciary capacity,” Garcia said. “Cresset serves clients with complex lives who are looking for a sophisticated multi-family office and private investing platform that can meet them where they are. That is an exciting ecosystem to join.”

Prior to joining Cresset, Mongia founded SharpVue Capital, an investment management affiliate of Medical Mutual Insurance Company of North Carolina. As Managing Director, he helped build the infrastructure and team that successfully launched a wealth management platform and funds focused on private equity, co-investments, and private real estate. Previous to that experience, Mongia served as an Operating Advisor with Thoma Bravo, LLC, a private equity firm based in Chicago and San Francisco, where he led the firm’s acquisitions of asset management and wealth management businesses. Prior to Thoma Bravo, he was Managing Director of Religare Global Asset Management in New York, where he completed two majority-interest acquisitions of alternative asset management firms. Mongia earned a bachelor’s degree in political science from Duke University.

“I am delighted to join Cresset at such an exciting time in our industry. With the wealth management and asset management sectors experiencing robust levels of M&A, and an increasing number of firms seeking strategic partnerships, Cresset is uniquely positioned to be a value-added partner of choice to growth-oriented management teams,” Mongia said.

Cresset also recently welcomed Michael Goldman as Associate, Cresset Private Capital. Goldman brings deep industry experience, having previously served as an Investment Banking Analyst for the Financial Institutions Group at Oppenheimer & Co., and an M&A Associate at Focus Financial Partners.

“As Cresset continues to engage with culturally aligned RIAs and advisor teams and to partner with growing asset management firms and alternative asset GPs, Gabe, Matt, and Michael will be key to those efforts. We are thrilled to welcome them to the Cresset team and look forward to their leadership,” Boehm said.

Cresset Capital is the parent company of Cresset Asset Management, an independent, award-winning multi-family office with more than $13 billion (as of May 2021) in assets under management; and Cresset Partners, which is Cresset’s private investing group that offers clients direct access to unique, institutional-quality real estate, private equity, private credit, and other investment opportunities.

About Cresset
Cresset offers access to a comprehensive suite of family office services, deeply personalized wealth management, investment advisory, planning, and other services through Cresset Asset Management, an SEC registered investment adviser. Cresset Partners, Cresset’s private investing group, offers clients direct access to institutional-quality real estate, private equity, private credit, and other investment opportunities. To learn more, visit https://cressetcapital.com.