NEW YORK--(BUSINESS WIRE)--Merchant Investment Management announced today that industry veteran Amit Grover will join the private partnership as Chief Financial Officer. As CFO, Mr. Grover will oversee all of the core financial functions of Merchant while also supporting key business initiatives at a senior level. Mr. Grover has 20 years of experience in the financial services industry during which he has held various management positions at firms including Dynasty Financial Partners, Morgan Stanley, Smith Barney and Citibank.
An emerging force in the independent wealth management industry, Merchant recently launched its private lending facility, Merchant Credit Partners, designed to offer advisers access to business loans for uses including M&A, succession planning, advisor recruiting and working capital needs. The launch of this business along with the hiring of Mr. Grover as CFO is a signal of Merchant’s commitment to growing its institutional footprint, and to have the right leadership team in place to support its expansion.
“Amit is an accomplished leader with demonstrated success of driving strategic initiatives. He offers a unique blend of corporate strategy, capital structuring and financial reporting skills and is very passionate about advocating for the needs of independent advisors,” said Marc Spilker, executive chairman of Merchant.
Tim Bello, managing partner of Merchant, added, “Amit and I have been friends for nearly a decade and I am delighted that he’s joining Merchant. He’ll have a significant impact on the Firm as we continue to expand across several fronts. Bryan Staff, David Mrazik, and the rest of the leadership team realized the timing was right to have Amit come aboard.”
Prior to Merchant, Mr. Grover served as Chief Financial Officer for Dynasty Financial Partners. In his last two years at Dynasty, Mr. Grover managed Dynasty’s Capital Strategies business and was responsible for deploying credit and equity capital in its network firms.
Previously, Mr. Grover headed Family Office Special Services at Morgan Stanley, was the Business Manager responsible for building the administrative platform for Citi Family Office, and worked in the Strategy Group at Smith Barney, where he was primarily responsible for managing Risk Capital for the firm. Prior to Smith Barney, Mr. Grover worked as an investment banker in the Leveraged Finance Group of Salomon Smith Barney and raised bank and bond capital for companies through highly structured credit deals.
Mr. Grover earned an MBA from Penn State and holds Chartered Financial Analyst (CFA®) and Certified Financial Planner (CFP®) designations.
“I am thrilled about joining a team that includes some of the most successful innovators in the financial services and wealth management space. I am excited about contributing to the firm’s expansion and look forward to helping Merchant navigate the growth of its business,” said Mr. Grover.
In addition to his duties at Merchant, Mr. Grover will become a stakeholder and take a seat on the Advisory Board of Compass CFO Solutions, which provides outsourced CFO and accounting services for advisory firms. Besides providing growth equity capital and private credit, Merchant has equity partnerships in place with several service providers through the Merchant constellation of companies, including Compass CFO Solutions and AdvisorAssist, which offers a robust suite of compliance and business risk management solutions.
About Merchant Investment Management
Merchant is a private partnership providing growth capital, management resources, strategic opportunities and direction to independent financial services companies, particularly those focused on wealth and asset management. By establishing and optimizing business infrastructure, providing access to organic and inorganic growth opportunities, designing and accessing bespoke investment solutions and providing collaborative capital solutions to address a variety of business needs, Merchant helps unlock value and entrepreneurial opportunity for business owners. To learn more about Merchant and the Merchant team, please visit our website at www.merchantim.com or follow us on Twitter at @Merchant_IM.