Silvercrest Asset Management Group LLC, a $2.5 billion asset management firm established last year by investment professionals from Donaldson, Lufkin & Jenrette's asset management group, said on Monday that it has hired a former DLJ chief executive to be chairman of its advisory board.
John S. Chalsty, 69, succeeds William H. Donaldson, a co-founder of Donaldson, Lufkin & Jenrette Inc., in the advisory post. Mr. Donaldson resigned from Silvercrest when he was confirmed in February as chairman of the Securities and Exchange Commission.
Mr. Chalsty was chief executive officer of DLJ from 1986 until February 1998 and chairman of its board of directors when Credit Suisse/First Boston bought the investment bank in 2000.
Silvercrest Asset Management was co-founded in April 2002 as an independent, employee-owned, registered investment adviser by G. Moffett Cochran, Martin Jaffe, and 42 other investment professionals, most of whom had worked together in DLJ's asset management group.
The firm offers traditional and alternative investment advisory and family office services to institutional investors and wealthy individuals.
