Cresset Asset Management, a leading registered investment advisory firm, has announced a change in its leadership. Liz Nesvold, the current President, will be stepping down from her role and will be succeeded by Susie Cranston, a former executive at First Republic Bank. Cranston is set to join the firm in April.
Cranston brings a wealth of experience to her new position. During her tenure at First Republic, she held several prominent roles including Chief Operating Officer and Executive Vice President of Private Wealth Management. Following the bank’s collapse last year, Cranston continued her career as a Managing Director at JPMorgan Chase. She also served as a consultant at McKinsey & Co. prior to her time at First Republic.
Cresset selected Cranston for her extensive financial services leadership experience, making her an ideal candidate for the role. A spokesperson for the firm highlighted Cranston’s cultural fit with Cresset, emphasizing her alignment with the company’s values of continuous curiosity, optimistic energy, and a client-first mentality. The entire team at Cresset is excited to welcome Cranston on board.
Nesvold’s time at Cresset has been relatively short, having joined the firm in May 2023 after holding a position as the Head of Asset & Wealth Management Investment Banking at Raymond James Financial. Unfortunately, Nesvold was unavailable for immediate comment regarding her departure. The news of Nesvold’s transition was initially reported by industry news website CityWire.
Cresset, founded by former private equity executives, has been experiencing steady growth through strategic recruitment and acquisitions. The firm is currently ranked No. 9 on ‘s Top 100 RIA Firms list, signifying its prominence within the industry.
One interesting fact is that Cranston will encounter several familiar faces at Cresset. The firm recently recruited a team from First Republic that managed approximately $13 billion in assets.