Angeles Wealth Management (AWM), the private wealth affiliate of US-based Angeles Investments, is expanding its national footprint with the opening of a new office in Chicago.

The firm has appointed Gary Cloudman as managing director of its new Chicago private wealth office.

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Cloudman joins AWM from Metropolitan Capital Bank & Trust, where he worked for five years.

Most recently, he was senior wealth consulting manager and head of the family office at the firm serving entrepreneurs, executives, and families.

Cloudman also has experience in advising business owners on family governance, estate planning, succession planning, risk management, and liquidity events.

AWM will leverage Cloudman’s network in the Chicago area to further expand its institutional-quality wealth management model nationwide.

Angeles Wealth CEO and president Jonathan Foster said: “In an industry in which growth by M&A seems to be all the rage, we continue to prioritize thoughtful organic growth.

“Bringing on Gary to launch our Chicago office gives us a Midwestern hub, enabling us to be closer to many families we serve. From December 31, 2019 through November 30, 2021, our AUM has increased more than 100%, so we are on a constant hunt for exceptional wealth management talent. Gary is the right person to lead us in the Midwest.”

Cloudman said: “The culture that Angeles has developed for both the team and clients is a testament to the strong mission and vision, which has led to prosperity as a firm and successful outcomes for clients.

“The firm combines an institutional approach to private wealth portfolio management focused on providing clients mission-aligned solutions with an understanding of the needs of their complex families.”