Focus Financial Partners announced four executive appointments on Monday, including the installation of former Apollo Global Management COO David Lang as the firm's new COO.
According to the New York-based RIA aggregator, Lang will lead “the optimization of Focus' operational efficiency and strategic corporate functions.”
Two of the appointments come from Connectus Wealth Advisers, one of Focus' partner firms. Last week, Focus consolidated Connectus' US-based business lines at The Colony Group and Kovitz Investment Group Partners.
Former Connectus CEO Molly Bennard is joining Focus as president of international operations and will lead the firm's global growth strategy. She has worked internally at Focus since 2015 before joining Connectus as CEO in July 2022. Additionally, Connectus Chief Marketing Officer Kathleen Alcorn is joining Focus as chief marketing and communications officer.
Lawrence Frers will also join Focus as chief human resources officer after more than 20 years with Morgan Stanley. According to Focus, he most recently led human resources for the firm's wealth management division.
Since Focus acquired the management teams of Colony and Kovitz, they have served as “hub” firms to consolidate Focus' other partner RIAs. Michael Nathanson previously served as CEO of Colony Group before becoming CEO of Focus in April, succeeding interim chief Dan Glaser, chairman of Focus' board of directors and operating partner at Clayton, Dubilier & Rice, lead investment partner of Focus private equity.
After CD&R bought Focus last year, the firm's three founders left, including CEO Rudy Adolf, who left in October. Under new owners, The focus is planned to merge about 90 independently owned subsidiary practices at its largest firms (such as Colony and Kovitz).
The firm was merged Strategic Estate of the Colony and Buckingham in May, creating a $50.2 billion RIA. Earlier this year, Focus merged Colony and GW & Wadea Wellesley, Mass.-based firm with $10.4 billion in assets under management.