First Manhattan
United States wealth management company From Wikipedia, the free encyclopedia
First Manhattan (FM) is a wealth management firm founded in 1964 by a group of financial industry executives led by David Gottesman. FM remains independently owned and operated, with operating subsidiaries that include an SEC-registered investment adviser and a broker-dealer registered with FINRA. As of 2024[update] FM is led by Zac Wydra, CEO and portfolio manager, and Alvaro Spinola, CFO/COO.
 | |
| Industry | Financial Services, Asset Management, Wealth Management |
|---|---|
| Founded | 1964 |
| Headquarters | New York City |
Key people | Robert Gottesman (executive chairman), Zac Wydra (CEO), Alvaro Spinola (CFO/COO) |
| Products | Investment management, Private investment funds, and ETFs |
| AUM | US$34+ billion (2024) |
Number of employees | 130 |
| Website | www |
FM is based in New York City.
History
David Gottesman founded First Manhattan in 1964.[1] [2] He died on September 28, 2022, at the age of 96.[3]
Robert Gottesman, David Gottesman's son, joined First Manhattan in 1987.[4]
MRJ Capital, a $168M AUM registered investment adviser founded by Matt Greenberg, joined First Manhattan in March 2022.[5]
In April 2025, Grand-Jean Capital Management, a registered investment adviser with over $500 million in assets under management, joined First Manhattan.[6] Steven Grand-Jean founded Grand-Jean Capital Management in 1990 after a 20-year career in investment banking.[6]
The Firm has launched two exchange-traded funds (ETFs) under its First Manhattan Excelsior ETFs banner, with First Manhattan Partner and Head of Research Himayani Puri as the Portfolio Manager. FM Focus Equity ETF (ticker: FMCX) was launched in April 2022 and FM Compounders Equity ETF (ticker: FMCE) was launched in November 2024.[7][8][9]
Description
First Manhattan provides investment advisory and wealth planning services to high-net-worth individuals, as well as to partnerships, trusts, retirement accounts, and institutional clients. The firm manages investments on a fully discretionary basis for accounts ranging from under $1 million to over $100 million. The firm currently manages in excess of $34 billion,[10] utilizing a research-driven, long-term, value-oriented investment approach.[11]
The firm's clients are significant owners of Berkshire Hathaway stock,[12] and the firm has established a reputation for utilizing investing strategies similar to that espoused by Warren Buffett.[13] The firm's founder, David Gottesman, was an early investor in Berkshire Hathaway and maintained a long-standing friendship with Buffett.[1] The firm's investment approach is to establish long term positions in portfolio companies, most often relying on fundamental analysis and targeting value in the public equity and fixed-income markets of the United States.[citation needed]
FM is based in New York City.
People
As of 2015[update] Robert Gottesman was the firm's executive chairman and a portfolio manager.[4]
As of 2024[update] the firm's Management Team, led by CEO Zac Wydra and CFO/COO Alvaro Spinola, is responsible for the management and day-to-day operations of the firm.[11]
References
External links
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