Global Asset Management said Thursday it hired Mary Lehman MacLachlan as president of its U.S. private client group in New York.
Ms. MacLachlan is well-known in New York's high-end investment management circles. She ran Bankers Trust New York Corp.'s domestic private banking business until June 1996, and before that, ran financial planning and business development for U.S. Trust Corp.
Most recently, Ms. MacLachlan, an attorney, worked for Private Capital Management, an investment firm in Naples, Fla., owned by the Collier family.
At Global Asset Management (USA) Inc., the company's American unit,, Ms. MacLachlan plans to introduce Global Asset Management funds and limited partnerships to wealthy clients of investment consultants, family offices, and financial services institutions.
She said Global Asset Management, which has $10.7 billion under management in nine offices worldwide, is successful in the U.S. institutional and retail markets, but wants to attract more affluent clients.
"Where growth is needed is in private client. That's what I've done my whole life," Ms. MacLachlan said.