Cresset Shuffles C-Suite, Elevating Leader From Acquired RIA to CIO

Cresset, a Chicago-based registered investment advisor with more than $65 billion in client assets, has changed the roles of three C-suite leaders covering investments, compliance and operations.

The moves include elevating Mike Silverman, currently executive managing director, to chief investment officer, a role formerly held by founding partner Jack Ablin.

Silverman joined Cresset in late 2024 via one of its relatively rare acquisitions of CH Investment Partners. He had been the chief investment officer and president of that Dallas-based $6.2 billion multi-family office. After the acquisition, he worked with the investment team to source and underwrite alternative investments for the Cresset platform.

Ablin, one of Cresset’s founding partners who joined in 2018, is moving to the role of chief investment strategist. In the new position, he will focus on macroeconomic trends related to Cresset’s investment strategies for Silverman and his team to implement. Ablin was formerly the chief investment officer of BMO Harris Bank.

In addition, Amy Hong will add the role of chief operating officer to her position as head of compliance. She came to Cresset in 2024 from J.P. Morgan Chase, where she was managing director of asset and wealth management. Before that, Hong was the chief compliance officer and operations head of private wealth management for First Republic Bank.

Related:New Jersey Team Leaves Ameriprise to Start Own RIA

“These changes reflect Cresset’s growth, and we believe will further position us for long-term success,” Susie Cranston, the president of Cresset, who also joined from JP Morgan in 2024, said in a statement.

Earlier this year, another JP Morgan alum, Melissa Karetny, joined Cresset as chief people officer.

Cresset has been bolstering its executive team in recent years after selling a minority stake to Constellation Wealth Capital in late 2024. Constellation invested $150 million, representing less than 10% of Cresset’s equity.  

Cresset was founded by Eric Becker and Avy Stein, who brought private equity experience to its investing capabilities for clients. In February, it spun off its private markets investing business into its own entity, Peakline Partners.