Open-architecture RIA expands management committee with Friedman's addition. High-end investment advisory Greycourt has given its CIO Gregory Friedman the additional title and responsibilities of president, a new role at the firm. At the same time, client-service head Gretchen Shoup has been made COO; a position she takes over from David Lovejoy, who remains with Greycourt as CFO and chief compliance officer. "Greg and Gretchen have been working day-by-day to build the Greycourt of the future," says Greycourt's chairman and founder Greg Curtis. "These appointments are an apt recognition of what they have accomplished and of their continuing leadership."

Deep pool

Portland, Ore.-based Friedman joined Greycourt in 2001 and became its CIO in 2003. Earlier he spent about 15 years with Mellon Bank (now part of Bank of New York Mellon), ultimately as its investment-strategy chief. As Greycourt's first president, Friedman joins Curtis, Lovejoy and CEO Mark Laskow on Greycourt's management committee. Since joining Greycourt from Federated Investors in 2005, Shoup has managed Greycourt's operations and client-service activities, making improvements to Greycourt's processes and operating procedures along the way. "From its inception, Greycourt has sought to build a sustainable advisory firm that can meet the needs of its clients over multiple generations," says Curtis. "We feel fortunate to possess a deep pool of talented professionals enabling us to promote the next generation of the firm's managers while the current senior management team remains firmly in place." In addition to its headquarters in Pittsburgh, Greycourt has offices in Charlotte, N.C., Houston and Portland, Ore. The firm has about $3.7 billion in assets under management in late March 2008 and close to $9 billion in total assets under supervision -- mainly for high-net-worth investors -- in July 2008. -FWR

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