PHILADELPHIA--(BUSINESS WIRE)--Threshold Group, a wealth management firm serving a select clientele of families and private family foundations, has hired Ronald G. Albahary, CFA, as Chief Investment Officer. Albahary's background includes previously serving as CIO at Convergent Wealth Advisors, along with investment leadership roles at Schroder Investment Management, SEI and Merrill Lynch. Beginning this month, Albahary will provide strategic leadership and team management of Threshold's investment advisory services group. In addition he will help guide overall strategic direction with a seat on Threshold's Leadership Team. He will join Threshold's office in Philadelphia and will have direct contact with clients nationally.
"We are genuinely gratified and excited to have Ron joining our team because he offers that rare balance of investment insight and common sense that our clients and our associates so appreciate,” said Ed Lazar, President of Threshold Group."Ron is both grounded and creative in his thinking, and he will lead a passionate investment team that has generated real value for our clients during nearly every type of market environment imaginable."
Albahary succeeds Ernie Ankrim, who served as Threshold's interim CIO earlier this year. Ankrim served the interim role after retiring as Chief Investment Strategist at Russell Investments.
Albahary will provide Threshold with more than 20 years of investment management and advisory experience with an emphasis on the customized needs of high-net worth private investors, families and family foundations. He earned an economics degree from the Wharton School of the University of Pennsylvania, is a Chartered Financial Analyst (CFA) charterholder and is a member of the Chartered Financial Analyst Society of Philadelphia. At Convergent Wealth Advisors he headed up the research team and chaired the Investment Committee responsible for advising on approximately $15 billion in assets. At Schroder Investment Management North America, he was the Head of Investment Solutions; at SEI, he helped oversee more than $60 billion in assets as Managing Director of Global Private Client Portfolio Management and, prior to SEI, he served as the Chief Investment Officer of Merrill Lynch Retirement Group advising on more than $150 billion in assets. He also spent several years as a portfolio manager at Northern Trust and Merrill Lynch where he focused on U.S. large cap equities and balanced portfolios for endowments, foundations and individual investors.
"I am energized by the opportunity to build upon the Threshold culture of client service, risk-sensitive investment strategies and unconstrained innovation focused on meeting client goals," said Albahary. "While Threshold is a young and growing firm, it has already established a respected reputation for understanding increasingly volatile markets and, as a result, successfully navigating clients through turbulent times. I look forward to working with this capable and skilled group by contributing my own ideas as well as applying my passion for helping clients with their investment needs."
Threshold Group / www.thresholdgroup.com / provides investment guidance, financial planning, legacy planning and family office services for families and private foundations that require a comprehensive and personalized approach to wealth advisory services. The independent, family-owned firm oversees $2.9 billion in assets and employs 45 associates with four offices in Gig Harbor, WA; Philadelphia, PA; Portland, OR; and Seattle, WA. Threshold was founded as a family office by the members of the Russell family, who created Frank Russell Company (now Russell Investments), a global investment leader best known for the Russell stock indices and wide range of independently researched investment products and services.