New York-based Lebenthal Holdings, a woman-owned boutique investment bank, has launched Lebenthal Wealth Advisors, a private wealth advisory division, led by Jeffrey Lane and Frank Campanale.

Lane will serve as chairman of the board of Lebenthal Holdings, while Campanale serves as chairman and chief executive of LWA.

In addition, Andrew Grillo, a former regional director of Smith Barney, will become president of LWA; James B Lebenthal will serve as chief investment officer and market strategist; and James A Lebenthal will be chairman emeritus.

Lane was previously CEO of Bear Stearns Asset Management; chairman and CEO of Neuberger Berman; and a vice chairman of Lehman Brothers. Lane was previously with Travelers Group as vice chairman, and earlier still vice chairman of the company’s Smith Barney subsidiary.

Campanale is latterly of First Allied Wealth Management, before which he was president and CEO of Smith Barney Consulting Group, responsible for the investment management consulting business. Prior to that, he was national director of the consulting group at E F Hutton & Co.

Founded in 1925, Lebenthal specializes in debt and equity capital markets, asset management and wealth planning. Click here to view a Q&A with Alexandra Lebenthal, CEO of Lebenthal & Co, about rebuilding the family business, telecommuting and the importance of being fabulous.