Key Takeaways
- • Bob Oros, former CEO of Hightower Advisors, has been appointed president of PPB Capital Partners, a 21-year-old alternative investment platform, in a newly created role effective April 1, 2026, while continuing as vice chairman of PPB's board.
- • During Oros' tenure as Hightower CEO (2019–February 2025), he orchestrated approximately 50 M&A transactions, grew assets under management to over $150 billion, and acquired an 80 percent stake in NEPC, positioning Hightower as one of the 10 largest advisory firms in the country.
- • At PPB Capital Partners, Oros will manage day-to-day operations and business infrastructure alongside founder and CEO Brendan Lake, who will focus on client engagement and long-term strategy in this operational division-of-labor structure.
- • Oros brings three decades of senior executive experience across major financial services firms, including Charles Schwab, Fidelity Institutional Wealth Services, LPL Financial, and HD Vest (now Avantax), alongside his proven track record transforming Hightower's business model from revenue-sharing to direct control.
- • Oros departed Hightower in February 2025, succeeded by former Goldman Sachs veteran Larry Restieri, following Thomas H Lee Partners' failed attempt to secure private equity funding for a majority stake in Hightower in 2024.
Summary
Bob Oros has emerged from a brief transition period to assume the presidency of PPB Capital Partners, an alternative investment platform founded 21 years ago. The appointment, effective April 1, 2026, represents a newly created executive role designed to separate operational leadership from client-facing strategy. Oros will work directly with founder and CEO Brendan Lake, who will concentrate on client engagement and long-term strategic direction while Oros assumes control of day-to-day operations and business infrastructure development.
The move marks Oros' return to active operational leadership after exiting Hightower Advisors in February 2025. At Hightower, where he served as CEO from 2019 onward under Thomas H Lee Partners' majority ownership, Oros orchestrated one of the wealth management industry's most aggressive expansion campaigns. He green-lit approximately 50 M&A transactions, transforming Hightower from a team-recruitment focused model into a serial acquirer. By his departure, Hightower's assets under management had reached $150 billion, elevating it to top-10 status among U.S. advisory platforms. A cornerstone transaction involved acquiring an 80 percent stake in NEPC, an investment consultant managing approximately $1.7 trillion in assets under advisement. Industry consultant Alois Pirker characterized Oros' achievements as particularly impressive given the operational challenges he inherited.
However, Oros' final years at Hightower were marked by strategic setbacks. Thomas H Lee Partners' inability to secure financing for a majority stake sale in 2024 represented a significant disappointment for the private equity backer, ultimately contributing to Oros' departure. He was succeeded by Larry Restieri, a former Goldman Sachs executive, who has led the platform since early 2025.
Oros' assignment at PPB builds upon a career spanning three-plus decades in senior financial services roles. Prior positions include executive leadership at Charles Schwab, HD Vest (now Avantax), Fidelity Institutional Wealth Services, and LPL Financial. The executive joined PPB's board as vice chairman in September 2025 before being elevated to the presidency, signaling both board confidence and his own commitment to the alternative investment sector at a time when institutional capital continues to flow toward diversified investment platforms.
The move marks Oros' return to active operational leadership after exiting Hightower Advisors in February 2025. At Hightower, where he served as CEO from 2019 onward under Thomas H Lee Partners' majority ownership, Oros orchestrated one of the wealth management industry's most aggressive expansion campaigns. He green-lit approximately 50 M&A transactions, transforming Hightower from a team-recruitment focused model into a serial acquirer. By his departure, Hightower's assets under management had reached $150 billion, elevating it to top-10 status among U.S. advisory platforms. A cornerstone transaction involved acquiring an 80 percent stake in NEPC, an investment consultant managing approximately $1.7 trillion in assets under advisement. Industry consultant Alois Pirker characterized Oros' achievements as particularly impressive given the operational challenges he inherited.
However, Oros' final years at Hightower were marked by strategic setbacks. Thomas H Lee Partners' inability to secure financing for a majority stake sale in 2024 represented a significant disappointment for the private equity backer, ultimately contributing to Oros' departure. He was succeeded by Larry Restieri, a former Goldman Sachs executive, who has led the platform since early 2025.
Oros' assignment at PPB builds upon a career spanning three-plus decades in senior financial services roles. Prior positions include executive leadership at Charles Schwab, HD Vest (now Avantax), Fidelity Institutional Wealth Services, and LPL Financial. The executive joined PPB's board as vice chairman in September 2025 before being elevated to the presidency, signaling both board confidence and his own commitment to the alternative investment sector at a time when institutional capital continues to flow toward diversified investment platforms.
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