West Palm Beach (HedgeCo.net) – Chilton Investment Company, a global investment management firm with approximately $6.5 billion in assets under management, announced that it has formed Chilton Trust Management, LLC, to advise and provide wealth management services to ultra high net worth individuals. Chilton’s new wealth management business is headquartered at 396 Royal Palm Way in Palm Beach (the former Bank of America building).
Chilton Trust Management will offer full-service, bespoke private wealth management services including: asset allocation advice, portfolio management, which will include separately managed accounts, tax advice and trust and estate planning in conjunction with its clients’ advisors.
Chilton has named Garrison Lickle, a highly-respected fiduciary wealth management professional with over 30 years experience, as President and Chief Executive Officer of Chilton Trust Management. Most recently, Mr. Lickle was Regional President of Lehman Brothers Trust Company and Managing Director of Lehman Brothers and Neuberger Berman, and joined Barclays Wealth as Managing Director after the Barclays acquisition of Lehman. Prior to Lehman, Mr. Lickle was Chairman and CEO of U.S. Trust Company of Florida, also based in Palm Beach.
Richard L. Chilton, Jr., Chairman, CEO & Chief Investment Officer of Chilton Investment Company, said, “Since our firm’s founding almost 20 years ago, we have instilled a culture in which the interests of our clients come first. Consistent with this philosophy, we believe now is the precise right time for us to create an independent firm that serves the large and underserved market for value-added private wealth management for ultra high net worth individuals — clients who truly want to build a relationship with professionals they can trust, and who will strive to protect, carefully grow and, equally important, manage their wealth for generations to come.”
Mr. Chilton, who will also serve as Chief Investment Officer of Chilton Trust Management, added, “We are thrilled that Gary Lickle is leading our wealth management business. I have known Gary personally for many years and have been impressed with his character and reputation, as well as his extraordinary professionalism, judgment and expertise.”
Mr. Lickle added, “Chilton is one of the storied names in money management—not only for its performance record but also for its integrity. Managing money well is an endeavor dependent on trust and responsibility. During the recent economic downturn, many people lost faith in their financial advisors because their ‘advisors’ pushed products instead of offering responsible advice. The Chilton Trust Management team has decades of private wealth management experience and we live within the communities that we plan to serve. While we will operate our business independently of Chilton Investment Company, the underlying values—trust, integrity and responsibility—will be the same. We are very much looking forward to this opportunity.”
Chilton Trust Management’s Team
In addition to Mr. Lickle, the other members of Chilton Trust Management’s senior management team will include:
John Rau, a trust and estate attorney and wealth management professional for over 25 years, and a long-time colleague of Mr. Lickle’s, who has joined as Senior Vice President.
Mary Morse, an experienced wealth management professional who worked closely with Mr. Lickle at U.S. Trust and later at Lehman/Barclays, who has also joined as a Senior Vice President.
Paul Napoleon, an experienced tax professional with over fifteen years of experience serving as a trusted tax advisor for high net worth individual clients will join the team as a Senior Vice President on November 15 th. Mr. Napoleon has been with PricewaterhouseCoopers LLP for the past twelve years in the Personal Financial Services division.
Chilton also announced that, as part of the formation of Chilton Trust Management, it will integrate family office services into this venture, under the leadership of Lisa Czachor, Director, and Kellie Zesch, Vice President. The Chilton family office is comprised of five investment and accounting professionals.
Ms. Czachor joined Chilton as family office Director in 2008 and previously spent seven years as the Chief Financial Officer of another family office, Belvedere Property Management, and prior to that as a Vice President in JP Morgan Chase’s Investment Management and Real Estate groups. Ms. Zesch, who assists with the office’s investment strategy, joined Chilton in 2007 from Cambridge Associates and is a Chartered Financial Analyst.
Garrison Lickle, President & Chief Executive Officer, joins Chilton Trust Management with over 30 years experience in the wealth management field, having started his career as a trust and estate attorney with Winthrop, Stimson, Putnam and Roberts (now known as Pillsbury Winthrop), where he was the Managing Partner in the Palm Beach Office, and then as a partner of Gunster, Yoakley & Stewart, P.A., in Palm Beach, Florida. In 1999, he joined U.S. Trust Company of Florida as Chairman and CEO. Most recently, Mr. Lickle was Regional President of Lehman Brothers Trust Company and Managing Director of Lehman Brothers and Neuberger Berman. After the Barclays, PLC acquisition of Lehman Brothers, he was a Managing Director of Barclays Wealth.
John Rau, Senior Vice President, was previously a Director of Barclays Wealth responsible for Wealth Advisory for the Mid-Atlantic and Southeast where he advised high net worth clients on tax and estate planning matters, particularly wealth structuring and the integration of personal planning with investment strategy. Prior to Barclays, Mr. Rau was a Senior Vice President at Lehman Brothers Trust Company with similar responsibilities, and was also the Senior Fiduciary Officer for the Southeast region. He began his career as a trust and estate attorney with Sullivan & Cromwell and was a partner at Gunster, Yoakley & Stewart, P.A. before joining Lehman in 2005.
Mary Morse, Senior Vice President, was previously a Vice President at Barclays Wealth responsible for Business Development and Client Relationships. Prior to Barclays, Ms. Morse was a Vice President at Lehman Brothers and was responsible for business and client development in Florida for Lehman Brothers Private Investment Management and Lehman Brothers Trust Company, N.A. She also served on the Healthcare Advisory Committee to the Lehman Brothers Foundation. Prior to Lehman Brothers, Ms. Morse was a Vice President at U.S. Trust Company of Florida and Director of Marketing for ten years.
Lisa Czachor, Director, was previously the Chief Financial Officer at Belvedere Property Management, a 100+ employee family office, where she was also an officer of The Moore Charitable Foundation. Prior to Belvedere, Ms. Czachor was a Vice President in JP Morgan Chase’s Investment Management and Real Estate groups. Ms. Czachor is a Certified Public Accountant, and began her career as a Senior Auditor with PricewaterhouseCoopers.
Paul Napoleon, Senior Vice President, was previously a Tax Director at PricewaterhouseCoopers in the Personal Financial Services division where he advised high net worth individual clients on personal tax planning and compliance. Mr. Napoleon is a Certified Public Accountant and a Certified Financial Planner.
Kellie Zesch, Vice President, was previously a Senior Associate at Cambridge Associates where she was the analyst responsible for thirteen institutional clients with over $11 billion in investable assets. Ms. Zesch assists with the investment strategy for the Chilton family office, and is a Chartered Financial Analyst.
About Chilton Investment Company
Chilton Investment Company, LLC is a global alternative investment management firm. Chilton is headquartered in Stamford, Connecticut with offices in New York, London, Hong Kong, Beijing and Chengdu. The firm is registered with the securities authorities in the U.S., U.K. and Hong Kong. Chairman, Chief Executive Officer and Chief Investment Officer Richard L. Chilton, Jr. formed the firm in 1992. Since that time Chilton has added additional strategies across various sectors globally and across various products.