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TheStreet Open House

Steward Partners Announces Former Citigroup, Smith Barney, Morgan Stanley Executive Hy Saporta Has Joined As COO

WASHINGTON, Feb. 10, 2014 /PRNewswire/ -- Steward Partners Global Advisory LLC, an employee-owned, full service partnership catering to family, institutional and multi-generational wealth, announced today that Hy Saporta has been named Chief Operating Officer and Managing Director.  Mr. Saporta is a founding partner and will report to Mike Maurer, CEO of Steward Partners.

"Given our rapid growth since inception (90 days ago), we realized we had a tiger by the tail, and needed a seasoned executive who understands the intricacies involved in expanding operations," said Mike Maurer, chief executive officer and founding partner of Steward Partners.  The firm has opened three offices in less than 90 days and is planning additional office openings in 2014.

Most recently, Mr. Saporta was chief operating officer for Citigroup's Global Learning and Development division responsible for overall business operations servicing 250,000+ employees globally.  Prior to Citigroup, Mr. Saporta was a managing director at Morgan Stanley Smith Barney and a member of the firm's management committee.  He was responsible for building out the Client and Field Experience program, focused on internet strategy and user engagement, the new account opening experience, performance reporting, client communications and client service metrics.  His advisor-facing responsibilities included the Field Services Group, a support network dedicated to guiding financial advisors through a vast array of products, services and technology.  

"We are experiencing a tremendous volume of interest from advisors," said Jim Gold, president of Steward Partners, "We knew we needed someone with Hy's experience and skill set to keep the operations running smoothly, and our concierge client experience functioning at the highest level while we respond to the field."

"I have long recognized that the wealth management industry was in the midst of a massive change," said Hy Saporta, chief operating officer of Steward Partners. "When I heard about the firm, I looked at the model and realized it would be transformative for our industry."

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