Boston, MA, April 9, 2008 Choate, Hall & Stewart LLP today announced that it has named Todd Millay as the new Managing Director of its Wealth Management Group. The Choate Wealth Management Group is currently responsible for nearly $3 billion in assets of high net worth individuals and families. In connection with overseeing the investment strategy and day-to-day operations of Choate Investment Advisors, the firm's registered investment advisor subsidiary, Millay will work closely with Choate's wealth management team of lawyers, tax preparers, and trusts and estates administrators to provide clients with objective, integrated solutions to their wealth management needs.
Prior to joining Choate, Millay served as the founding Executive Director of the Wharton Global Family Alliance, the research center created by the Wharton School for family business, wealth and philanthropy, and as a partner in CCC Alliance, a private Boston-based network of over 90 single family offices, each with over $100 million in net worth. Previously, Millay was a consultant with McKinsey & Company, an international management consulting firm, where he worked with asset management and investment firms in the U.S. and Europe on their strategic initiatives.
"Todd's extensive experience in the financial services and wealth management industries, along with his legal background, make him uniquely qualified to lead our Wealth Management Group," said William Gelnaw and John Nadas, Choate, Hall & Stewart's Managing Partners. "Under Todd's leadership, we will continue to offer clients independent, comprehensive, and institutional-quality solutions to their wealth management needs."
Choate has provided wealth management services to high net worth individuals and families for decades. Choate Investment Advisors offers an independent "open architecture" investment strategy and does not sell any proprietary products or charge hidden fees. This allows Choate Investment Advisors' investment team to create sophisticated portfolios for clients that utilize the best managers and products available without any conflict of interest. The firm's seamless "one-stop" approach to wealth management provides clients with top notch, institutional quality investment management services that are fully integrated with their tax, estate planning, and other needs.
"I am very excited about joining Choate and look forward to building on the firm's enviable position in the marketplace," said Todd Millay. "We offer clients a unique model of holistic wealth management from a trustworthy, experienced partner. It is a very complex undertaking but we make it simple and convenient for the client.
" After receiving his law degree from Yale Law School in 1997, Millay clerked for Judge Lynch of the U.S. Court of Appeals for the First Circuit. Prior to law school, Millay attended Oxford University from 1992 to 1994 as a Rhodes Scholar, where he had a concentration in economics. He earned his undergraduate degree from Dartmouth College in 1992.
Choate, Hall & Stewart LLP is a leading law firm with nationally recognized practices in wealth management, private equity, technology, intellectual property, mergers and acquisitions, commercial litigation, and insurance and reinsurance litigation. The firm's clients range from Fortune 100 companies to leading venture capital and buyout funds to technology startups and high net worth individuals.