New leaders for wealth management and UHNW at $7B multi-family office

Long-serving employees promoted at 100-year-old investment firm.

A multi-family office managing $7 billion in client assets has promoted two long-serving members of its team to key management roles.

Pitcairn has announced that J. Matthew McCarte, CFP, CTFA, is immediately taking charge of all relationship management teams as managing director and head of wealth management. He has been with the firm for 25 years and as a relationship management team leader, he has been responsible for developing, implementing, and monitoring financial plans for many ultra-high-net-worth families.

McCarte will report to new CEO Andrew L. Busser, president, family office at Pitcairn who will assume the role on November 16 from Leslie Voth who continues as chairman of Pitcairn Trust Company.

Meanwhile, managing director Karen Carlson, CFP, who has been with the family office for 13 years, is promoted to lead the Ultra-High-Net-Worth Relationship Management team, reporting to McCarte. Her focus is advising multi-generational families.

OUTSTANDING LEADERS

“Matt and Karen are both outstanding leaders who have demonstrated a commitment to delivering a client experience that is truly outstanding,” said Busser. “They are both experienced leaders who have contributed greatly to making Pitcairn the firm it is today and what we plan to become over the next hundred years. We are pleased to recognize their dedication, abilities, and contributions to Pitcairn’s success, and we congratulate them on this milestone.”

The 100-year-old firm, incorporated as a trust company, has 75 employees across offices in Philadelphia, New York, and Washington, DC, along with a presence in Florida.