Crestwood Advisors, a Boston-based hybrid registered investment advisory firm in the Focus Financial Partners network, has appointed a long-time employee to serve as the first president in its history.
Leah Sciabarrasi, who has been with Crestwood since the firm launched in 2003, will retain her previous title of managing partner while taking on additional responsibilities in support of continued growth and increasing complexity. She will continue to play a leadership role within wealth management and in future mergers and acquisitions opportunities, while also directly guiding investment operations and overseeing implementation of various strategic planning initiatives across Crestwood’s internal teams.
The appointment was effective Jan. 1.
“Her dedication to the growth and success of the firm has been evident throughout the years,” CEO and Managing Partner Michael Eckton said in a statement, calling the move “a natural evolution” and expressing confidence in Sciabarrassi’s “ability to guide Crestwood in the years ahead.”
“I am committed to driving our organization’s mission to deliver an exceptional experience for our clients as well as continued strategic growth, and I look forward to remaining focused on the long-term success of our clients and the firm,” said Sciabarrasi.
Crestwood joined the Focus Financial network in 2017, with around $1.3 billion in managed assets. It has since grown to more than $5.3 billion across fewer than 1,000 clients through recruitment, mergers and acquisitions and organic growth. The firm announced its first two acquisitions in 2020 and completed a third in September, bringing employee headcount to more than 55 across three locations in Massachusetts, Connecticut and Rhode Island.
After expanding its office in Darien, Crestwood signed a 10-year lease to build a larger space in Connecticut’s Gold Coast region and has plans to move in sometime next year.
In 2024, the firm plans to enhance its brand through “strategic growth initiatives,” according to the announcement.
Owned by Clayton, Dubilier & Rice since the private equity company bought the platform last year, Focus Financial’s 90-plus partners are expected to be rolled up into one of a handful of larger Focus firms over the coming months and years as CD&R seeks to realize the benefits of scale, with many firms already receiving buy-out offers for revenue retention agreements.
