Snowden Lane, a hybrid registered investment advisor and serial recruiter of wirehouse breakaways, is doubling down on its talent sourcing by hiring a former Merrill Lynch vice president to a new role of managing director of business development.
Rob Russak, who has been with Merrill for over three years after stints at Morgan Stanley and Wells Fargo, will head the $10 billion RIA’s growth strategies, which include recruiting, new technology and initiatives for current advisors.
Snowden also hired Dana Crane as its first director of recruiting. She recently worked as an independent contractor with Fusion Financial Partners, but before that, worked at Koren Rogers Executive Search and Morgan Stanley.
Both will be based in the firm’s New York headquarters, as it seeks to attract advisors in a competitive talent marketplace.
“Bringing Rob and Dana on board is a clear signal of our ambition and momentum,” said Greg Franks, managing partner, president and COO of Snowden Lane, in a statement.
Snowden makes the move after acquiring a chunk of the ownership stake once held by private equity firm Estancia Capital Partners this January. Through the transaction, the RIA provided partial liquidity to vested advisor owners of up to 40% of their equity holdings after seeing 30% year-over-year revenue growth in 2024.
Advisors and employees now own two-thirds of the firm, with Estancia maintaining a one-third ownership stake.
Since its founding in 2011, Snowden has steadily lured advisors from the big wirehouses and some RIAs. Its team currently includes 83 financial advisors across 15 offices.
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