People Moves: Modera Hires State Street Alum as CIO
Modera Wealth Management, a Westwood, NJ-based registered investment advisor managing $17.5 billion in assets, has appointed Gaurav Malik as chief investment officer and Shelley Kapoor as chief operating officer.
Based in Modera’s Boston office, Malik will lead the firm’s investment strategy and guidance on portfolio allocation, investment solutions and governance framework, according to an announcement. Kapur, based in Westwood, oversees operations and technology.
Malik replaces George Padula, who plans to retire at the end of 2026, and will remain with the company through the end of the year to support the transition. Kapur replaces Harley Palm, who moved to director of education and development.
“We bring on board these two wealth management veterans as we expand both our investment offerings and our operations and technology platforms,” CEO Tom Orecchio said in a statement.
Malik most recently served as managing partner at Fiducia Advisors, where he led consulting projects for wealth management firms. Prior to that, he was Chief Investment Officer at Palace Capital and spent nearly two decades in leadership roles at State Street Global Advisors, including Chief Portfolio Strategist and Chief Investment Strategist.
Kapoor joins from Coldstream, where she managed business integrations. She previously served as Chief Operating Officer at Arneric Massena. Before merging with Coldstreamand spent 13 years as senior vice president of operations at Ziff Brothers Investments in New York City.
Moderator last year Found a tax and accounting firm To bring those services in-house with RIA.
Cresset appointed Dheeraj Soni as Chief Technology Officer
Cressett named the Chicago-based multifamily office with more than $250 billion in client assets to the role of chief technology officer of Derage Sony, promoting him from managing director and commercial operations.
Sony will lead Cresset’s technology organization, strategy and infrastructure while overseeing its business platform, cybersecurity strategy and execution capabilities. He has nearly 30 years of leadership experience in wealth management, private banking, prime brokerage, asset management, institutional trading and investment banking.
Sonny joined Cresset in October 2025 after becoming CTO of JP Morgan Advisors, where he led enterprise-wide business transformation and platform integration initiatives. Prior to that role, he was Head of Wealth Management Technology at First Republic Bank, where he spent more than a decade overseeing wealth management platforms.
“Sony is an incredible technology leader dedicated to balancing innovation and operational efficiency by creating technology and business organizations,” CEO Suzy Cranston said in a statement.
Cresset Recently, a senior consultant was rescued. From JPMorgan’s private bank, Ali Bathgate, oversees more than $1 billion in AUM for the bank.
HB Wealth hires two senior advisors for new institutional unit.
HB Fortune, based in Atlanta The RIA manages $32 billion in assets.Hired senior advisors and firm shareholders Mike Hill and Armond Reese to join new institutional advisory and foreign chief investment officer practices.
The business unit formalizes the company’s long-term institutional relationships among nonprofit, foundation, grant and corporate clients, according to the announcement. Hill, based in Nashville, and Reese, based in Atlanta, work in client development and relationship management within HB Wealth’s institutional clients.
In a statement, CEO Thomas Carroll said, “We have served institutional clients for years, along with their families and the individuals they lead. It is that level of commitment that is changing. This commitment is building infrastructure, people, processes and capabilities to expand our reach and enhance our impact in the institutions we serve.”
Hill brings more than 30 years of institutional investment management experience serving nonprofits, foundations, endowments and other institutional clients, including 25 years with Trust Bank and predecessor companies, where he founded and leads the Nashville Institutional Investment Management practice.
Reese has more than 25 years of experience advising foundations, endowments, health care foundations and public philanthropies. Most recently, he served as regional practice leader for Truist’s Foundations and Endowments Specialty Practice.
Both will report to Joel Hook, Chief Investment Officer of HB Wealth.
Eaton Advisors hires senior wealth manager from Northern Trust.
Eaton Advisors, a Chapel Hill, NC-based multifamily office It manages $1.9 billion in client assetsAppointed Molly Baumberger as senior wealth manager and member of the leadership team.
Baumberger, based in Miami, has been with Northern Trust for nearly two decades, advising families on trust and estate planning, family administration and fiduciary matters, most recently as senior vice president and senior communications manager.
At Eaton, Baumberger works closely with individuals, multigenerational families and business owners on trust structures, estate planning, investment strategy and wealth succession.
Baumberger said in a statement: “From the beginning, I was impressed by the team’s commitment to their clients and the intentionality and scale of their work. Eaton’s boutique approach and client-first philosophy align with the belief that wealth planning is ultimately about people.”
