People Moves

Former Goldman Sachs Managers Start Wealth Boutique On West Coast

Tom Burroughes Group Editor London 15 September 2011

Former Goldman Sachs Managers Start Wealth Boutique On West Coast

Three senior Goldman Sachs Private Wealth Management advisors have left the US firm to create an independent San Francisco boutique, called Seven Post Investment Office, Reuters reported.

Ali Bastani, who spent 13 years at Goldman Sachs, Eldridge Gray, and Charles Wyman, 15 years in the brokerage industry, started the new firm on 2 September, the news service reported, citing records filed with the Financial Industry Regulatory Authority and the Securities and Exchange Commission.

Bastani, Gray and Wyman announced their moves to the new firm on their LinkedIn pages, the report said.

They leave behind at least two members of their team - John Underwood and Bruce Bligh, the report said. The San Francisco office has roughly a dozen other teams still in place.

Seven Post seeks to advise clients with at least $25 million in assets, managing global multi-asset class portfolios and also engaging third-party investment managers.

As reported late in 2010, Goldman Sachs has around 600 advisors around the world and there are plans in place to take that number towards 800.

 

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