Industry Veteran Named Emigrant Bank Vice Chair, Emigrant Partners Chair

Liz Nesvold Has Been In The Sector For Over 30 Years As An Advisor, Investment Banker And Executive.
Liz Nesvold, Vice Chair of Emigrant Bank and Chair of Emigrant Partners
Liz Nesvold, Vice Chair of Emigrant Bank and Chair of Emigrant Partners

Emigrant said Tuesday it appointed industry veteran Liz Nesvold as Vice Chair of Emigrant Bank and Chair of Emigrant Partners.

Nesvold has worked in the wealth management industry for more than 30 years as an advisor, investment banker and executive. During that time, she has been an advocate and mentor for women in financial services, Emigrant said.

The new Vice Chair role was created with the goal of accelerating the strategic growth of Emigrant’s diversified wealth platform, it said.

Noting he had collaborated with Nesvold on “multiple transactions over the past decade,” Howard Milstein, CEO and Chairman of Emigrant, said he was “thrilled to have finally recruited Liz to the team.”

Howard Milstein, CEO & Chairman, Emigrant Bank
Howard Milstein, CEO & Chairman, Emigrant Bank

Nesvold will work closely with all units of the bank that are engaged in, or provide solutions to, the firm’s wealth management business, including Emigrant Partners (EP), New York Private Trust, Sarasota Private Trust and Cleveland Private Trust, as well as the company’s business divisions that serve the high net worth and ultra-high net worth markets, including Personal Risk Management Solutions and Summitas.

In total, EP’s portfolio includes 20 partner firms with more than $100 billion in assets under management and advisement and over $400 million of combined revenues.

EP has invested more than $530 million of long-duration capital in 30 wealth and asset management companies over its 17-year history of supportive minority partnering. Emigrant has collaborated with management teams from 10 partner firms seeking majority strategic sales and recapitalizations, to optimize outcomes for all parties, the company said.

The opportunity to join Emigrant “presented itself at an important time,” according to Nesvold.

“As the wealth management industry becomes increasingly complex, now more than ever, leaders of wealth management firms need strategic partners who understand their businesses – especially the sanctity of the fiduciary duty owed to clients – and the opportunities ahead,” she said.

She added, Emigrant’s platform is “uniquely aligned to sponsor independence and help drive the next wave of growth for this industry.”

In her new roles, Nesvold will partner with John Hart, Vice Chair of Emigrant Bank, responsible for Emigrant’s three private trust companies, and with Jenny Souza, President and CEO of Emigrant Partners.

Nesvold’s experience includes mergers and acquisitions, capital planning and fundraising, succession and liquidity planning, strategic advisory, compensation structuring, deep-dive financial and business analysis, and organic growth consulting.

She started her career providing advisory services to RIAs in 1991 at Berkshire Capital, where she co-founded the investment banking industry’s first-ever specialist M&A practice serving wealth management firms.

In 2007, she launched Silver Lane, a boutique investment bank that was an active M&A advisor to the wealth and asset management industry. She and her partners sold Silver Lane to a Fortune 500 company in 2019, and she retired from investment banking four years later to join the wealth management industry.

In 2017, Nesvold and her partners represented Emigrant Bank when it sold HPM Partners (now Cerity Partners) to Lightyear, and followed that with the sale of EP partner firm Pathstone to Lovell Minnick Partners.

She also represented six other firms in which EP invested or sold, working closely on those projects with Milstein and Barry Friedberg, Co-Chair of the Board of Emigrant Bank, the company said.

Jeff Berman, Contributing Editor & Reporter at Wealth Solutions Report, can be reached at

Related Posts

Sign Up for Our Newsletters

Sign Up for Our Newsletters