Restieri worked for over 20 years at Goldman Sachs, with his expertise spanning wealth and asset management. Credit: LALAKA/Shutterstock.

Chicago-based wealth management firm Hightower Advisors has named Larry Restieri as its new CEO, replacing Bob Oros who has led the business since 2019.

Restieri will also join the board of directors, taking on the new responsibilities in spring 2025.

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Meanwhile, Oros will continue as a board member.

Restieri’s appointment comes as Hightower Advisors prepares for a new growth phase, building upon the firm’s transformation and expansion under Oros.

During Oros’ leadership, the firm executed over 50 mergers and acquisitions, including the acquisition of NEPC, and saw its assets under advisement surge from $57bn to $1.8tn.

Oros said: ““I am incredibly proud of the progress we’ve made at Hightower over the past six years, and I have full confidence that under Larry’s leadership, the firm will continue to thrive.

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“I look forward to supporting him and the Hightower team as a board member and advisor.”

Restieri, latterly the CEO of AYCO, a Goldman Sachs company, is said to have been integral in modernising the company’s services and strengthening client relationships.

Earlier, he had a stint of over 20 years at Goldman Sachs, with his expertise spanning wealth and asset management.

Restieri said: “Under Bob’s leadership, the firm has built an incredible reputation as a leading partner for independent advisors, providing them with the tools and resources needed to succeed.

“I look forward to working with the talented Hightower team, our advisors, and the Board, including Bob.”

Hightower Advisors offers a range of services including investment, financial, and retirement planning for individuals, foundations, and family offices, as well as 401(k) consulting and cash management for corporations.

In December 2024, the company bolstered its US presence by investing in Denver, Colorado-based Dechtman Wealth Management.