Perella Weinberg Partners, the US-headquartered global financial advisory firm, has employed Michael McGrath – latterly of Morgan Stanley Smith Barney - as a partner within its asset management business, based in New York.

McGrath will work on product development, alongside the marketing group and portfolio management team, concentrating primarily on expanding the firm’s presence in the private client market sector, the firm said.

“The high net worth segment continues to trend toward open architecture,” said Terry Meguid, founding partner and head of the asset management business.

McGrath will be responsible for ensuring products are “more accessible to the underserved individual investor marketplace,” he added.

Prior to his appointment at Perella, McGrath was a managing director at MSSB, as well as global head of the alternative investments team. In this role, he was in charge of developing strategy and building global alternative investment capabilities for the wealth management venture between Morgan Stanley and Citigroup.

Overall, McGrath has over 22 years of product management experience within the private wealth industry.

Perella Weinberg Partners was established in 2006 and has offices in New York, London, Abu Dhabi, Beijing, Denver, CO, Austin, TX, and San Francisco, CA.