William Johnson

1 week ago | citywire.com | Alec Rich |William Johnson |Eva Thomas |Sam Bojarski

Despite ongoing jitters in the US equities market, Charles Schwab saw continued growth and set record net revenues in the first quarter of 2025. In the brokerage giant’s Q1 earnings report, which was released on Thursday, Schwab reported income of $1.9bn, or $.99 earnings per share, as the company gained nearly $138bn in core net new assets.

1 week ago | citywire.com | Alec Rich |Sam Bojarski |William Johnson |Eva Thomas

A Connecticut RIA has accepted minority investment from Karl Heckenberg’s Constellation Wealth Capital. Procyon Partners, an $8bn RIA, said Thursday that the deal with serial RIA investor Constellation will allow the firm to scale its operations and facilitate hiring. Sources told Citywire in December that Procyon was in the market for a minority investor. Citywire also reported last month that Constellation Wealth Capital and Rise Growth Partners were in talks to invest in the RIA.

1 week ago | citywire.com | William Johnson |Tania Mitra |Ashley McConnell |Eva Thomas

Hamilton Lane’s co-head of evergreen portfolio management, Steve Brennan, thinks that model portfolios will become a crucial part of alternatives adoption in the wealth channel. Advisors have increasingly been utilizing model portfolios to outsource investment management decisions, and as asset managers continue to expand their alts capabilities for wealth investors, getting their products into the models will propel growth.

1 week ago | citywire.com | William Johnson |Ian Heath |Ashley McConnell |Tania Mitra

BlackRock has overhauled its Global Emerging Markets (GEM) division and split it into two distinct teams, Citywire has learned. The changes include the recruitment of two senior investors in Asia and the repositioning of certain portfolio managers, team leaders and strategies. The resulting structure will create an EM & Asia Core Team in Hong Kong and an EM & Frontiers Team based in London, with the division remaining under the overall leadership of emerging markets CIO Belinda Boa.

1 week ago | citywire.com | William Johnson |Tania Mitra |Ashley McConnell

Former Pitcairn gatekeeper RJ Smolenski has landed at Second Mountain Partners as the firm’s chief operating officer. In a LinkedIn post, Smolenski said: ‘Very pleased to announce that I have joined Second Mountain Partners, as Chief Operating Officer. Looking forward to growing the business, and great things ahead! Thanks to all that have helped me on this journey!’ Already have an account? Do you personally advise on or manage investments for clients?