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BBH (Brown Brothers Harriman) has expanded its Philadelphia Multi-Family Office team with the hiring of Tom Spano.

Spano joins as a managing director for BBH in Philadelphia and will focus on deepening relationships with private business owners, wealthy families and more.

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He brings over 20 years of investment management experience and joins from Hirtle, Callaghan & Co.

“I’m thrilled to join a growing organisation and look forward to continuing BBH’s longstanding commitment to their clients,” said Spano.

“Tom brings a wealth of expertise to BBH and our Philadelphia office, and we’re thrilled to have him join our team and further our commitment to the families, business owners, and institutions across the region,” said Joe Chott, principal and head of the Philadelphia office. “Tom’s addition, along with other strategic hires, are investments in our growing business and a demonstration of our commitment to our clients across our region.”

BBH plans for Philadelphia and more

Speaking to PBI, the firm offered many answers to its future plans.

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  • How long has BBH been thinking about expanding in Philadelphia? What are the benefits? 

BBH established its roots in Philadelphia in 1818, and while the firm has since expanded to other cities across the US, it remains committed to investing in the area. Over the past few months, there has been a heightened drive for BBH to expand its offices there, with the recent appointment of Joe Chott as Head of the Philadelphia Office, succeeding Clark O’Donoghue and Jeff Idler. With Joe’s recent appointment, BBH has been able to ramp up the hiring of the most experienced people to deliver the best for BBH clients across the Philadelphia region.

  • Who is the target demographic in the region?

BBH is focused on serving private business owners, wealthy families, and local endowments, foundations, and non-profit institutions in the greater Philadelphia region. In addition to driving several new corporate loans, advisory assignments, Center for Family Business engagements and new private banking client wins, BBH also recently provided the Philadelphia Ballet with an $18.5m loan after a two-year funding delay. This enabled the non-profit to reach 70% of its current anticipated project costs and build out its Center for Dance. 

  • Any more expansions in the future?

The BBH Philadelphia Office plans to expand its corporate advisory and banking teams in the near future. Besides appointing Tom Spano as managing director, Mike McGrann also recently joined the Center for Family Business group. These recent hires and plans for increased growth represent continued investment from BBH in their clients and local community.