Focus Financial Partners announced four executive appointments Monday, including installing former Apollo Global Management Chief Operating Officer David Lang as the firm’s new COO.
According to the New York-based RIA aggregator, Lang will lead “the optimization of Focus’ operational efficiency and strategic corporate functions.”
Two of the appointments come from Connectus Wealth Advisers, one of Focus’s partner firms. Last week, Focus consolidated Connectus’s U.S.-based business lines into The Colony Group and Kovitz Investment Group Partners.
Former Connectus CEO Molly Bennard is joining Focus as president of international operations, and will lead the firm’s global growth strategy. She worked internally at Focus since 2015 before joining Connectus as CEO in July 2022. Additionally, Connectus Chief Marketing Officer Kathleen Alcorn is joining Focus as chief marketing and communications officer.
Lawrence Frers will also join Focus as its chief human resources officer after more than 20 years with Morgan Stanley. According to Focus, he recently led human resources for the firm’s wealth management division.
Since Focus bought out the management teams of both Colony and Kovitz, they have been serving as “hub” firms to consolidate other Focus partner RIAs. Michael Nathanson previously served as the Colony Group’s CEO before becoming Focus CEO in April, succeeding interim head Dan Glaser, chairman of Focus’ board of directors, and operating partner at Clayton, Dubilier & Rice, Focus’ majority private equity investment partner.
After CD&R bought Focus last year, the firm’s three founders left, including CEO Rudy Adolf, who left in October. Under the new owners, Focus planned to merge about 90 independently owned subsidiary practices into its largest firms (like Colony and Kovitz).
The firm merged Colony and Buckingham Strategic Wealth in May, creating a $50.2 billion RIA. Earlier this year, Focus merged Colony and GW & Wade, a Wellesley, Mass.-based firm with $10.4 billion in managed assets.
