One of Richmond’s newest financial firms has a new leader.
Cortview Capital Securities and its holding company named T. Kelley Millet as its CEO effective today.
Cortview, a broker/dealer and investment banking firm, was founded in Richmond in September. It has since been in a full-on expansion mode thanks to a$125 million backing from New York private equity fund Warburg Pincus.
That horde of cash has allowed Cortview, which is headquartered on the 11th floor of Two James Center downtown, to open nine locations in less than a year. It now has about 100 employees working in offices in Atlanta, Chicago, Memphis, Houston, Bellvue, Wash., New York, Boca Raton, Fla., and Charlotte.
Michael Lacovara, the firm’s founding president and CEO, said he couldn’t comment on any potential expansions in the near future. But he said that growth won’t subside with Millet at the reins.
“If anything, bringing in somebody of Kelley’s depth indicates we’re going to continue to drive forward,” Lacovara said. “He didn’t come to maintain the firm at its current size. He came to grow it.”
The move doesn’t mean that Lacovara will be taking a backseat role.
“I remain both a significant shareholder and the president,” Lacovara said. “So I’m not going anywhere.”
Lacovara said the company’s growth is what helped attract Millet, who has 30 years in the industry working for the likes of Bear Stearns and JPMorgan.
“We have been working on adding to our management team for months,” Lacovara said. “It took some time to find somebody that we all thought would be a good partner.”
In April, BizSense reported that Cortview landed its first celebrity client when it became the strategic adviser to former talk show host and now infomercial pusher Montel Williams and his various business ventures.
Michael Schwartz is a BizSense reporter. Please send news tips to [email protected].
One of Richmond’s newest financial firms has a new leader.
Cortview Capital Securities and its holding company named T. Kelley Millet as its CEO effective today.
Cortview, a broker/dealer and investment banking firm, was founded in Richmond in September. It has since been in a full-on expansion mode thanks to a$125 million backing from New York private equity fund Warburg Pincus.
That horde of cash has allowed Cortview, which is headquartered on the 11th floor of Two James Center downtown, to open nine locations in less than a year. It now has about 100 employees working in offices in Atlanta, Chicago, Memphis, Houston, Bellvue, Wash., New York, Boca Raton, Fla., and Charlotte.
Michael Lacovara, the firm’s founding president and CEO, said he couldn’t comment on any potential expansions in the near future. But he said that growth won’t subside with Millet at the reins.
“If anything, bringing in somebody of Kelley’s depth indicates we’re going to continue to drive forward,” Lacovara said. “He didn’t come to maintain the firm at its current size. He came to grow it.”
The move doesn’t mean that Lacovara will be taking a backseat role.
“I remain both a significant shareholder and the president,” Lacovara said. “So I’m not going anywhere.”
Lacovara said the company’s growth is what helped attract Millet, who has 30 years in the industry working for the likes of Bear Stearns and JPMorgan.
“We have been working on adding to our management team for months,” Lacovara said. “It took some time to find somebody that we all thought would be a good partner.”
In April, BizSense reported that Cortview landed its first celebrity client when it became the strategic adviser to former talk show host and now infomercial pusher Montel Williams and his various business ventures.
Michael Schwartz is a BizSense reporter. Please send news tips to [email protected].