Palladiem Partners Established by Former Leadership Team of Lockwood Advisors

RADNOR, Pa., Sept. 6, 2011 /PRNewswire/ -- The former executive leadership team of Lockwood Advisors, Inc., a subsidiary of BNY Mellon and affiliate of Pershing LLC, today announced the formation of Palladiem Partners, L.P., ("Palladiem" or the "Firm") an independent investment advisory firm that focuses on the development and execution of customized investment strategies and services for independent financial advisors, broker dealers and institutions.  Palladiem will be led by Donald G. Robinson, the former Chief Investment Officer and one of the founders of Lockwood Advisors, Inc.  

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"We are truly excited about the launch of our new firm," said Donald G. Robinson, CEO and Co-CIO of Palladiem Partners, L.P.  "Given the volatility in the capital markets and the continued uncertainty around the economy, we believe establishing ourselves as an independent firm that is nimble and takes an active approach to total risk management will differentiate us in the marketplace and best position us to serve our clients with the type of independent, best-in-class conflict-free advice they seek from their partners."  

Mr. Robinson added: "With the number of independent financial advisors continuing to grow nationwide, we believe industry dynamics are particularly attractive for advisor-centric firms like ours that can be true partners to their clients.  At Palladiem, our priority is to empower advisors to fully focus on serving their clients' investment needs, while we maintain the requisite financial services architecture and handle the daily management of client portfolios.  We are truly 'open architecture' meaning independent as to platform or custodian.  Advisors today want the flexibility of choosing custodians and platforms that best complement their business structure, one size does not fit all, which is why we made a decision to have an open, advisor-centric distribution strategy."

"Today's announcement, and the decision to launch Palladiem as an independent firm, reflects what we believe is a compelling opportunity for us to better support our clients—both in meeting their own objectives as advisors, and in addressing the needs of the clients they serve each day.  We wish our former colleagues at Lockwood Advisors, Inc. and Pershing LLC all the best in their future endeavors," Mr. Robinson concluded.  

Additional former executives of Lockwood Advisors, Inc. joining Palladiem include:  

• David Feldman, former Director of Investments, who will serve as President and Co-Chief Investment Officer of Palladiem;
• Joseph Scavetti, former Director of Trading, Operations and Risk Management, who will serve as Chief Operating Officer; and
• Stephanie Mackara, former Director of Product Development and Strategic Initiatives, who will serve as Chief Marketing Officer.  

The Palladiem executive management team collectively has an average of over 25 years of professional money management and advisory experience, and most recently was responsible for actively managing and sub-advising approximately $13 billion in assets across thousands of institutions and advisors.

The Palladiem executive team has scheduled two market seminars in the coming weeks, both to present the Firm's views on the current outlook in the financial markets and to further introduce the Firm:

<p>Palladiem also announced today the appointment of David R. Gibson as Managing Director and Chief Financial Officer of the Firm.  Mr. Gibson was previously the Executive Vice President and CFO of The Wilmington Trust Company and its affiliates for the past 18 years.  

"I am very pleased to be working with the highly talented and experienced investment team assembled at Palladiem," said David R. Gibson.  "Don Robinson's experience and national reputation as an investment expert, coupled with the strong bench of other senior executives at Palladiem, will add valuable depth to our product offerings and capabilities in the wealth management and separately managed account arenas."

For full biographical details about Palladiem's leadership team, and for additional news and information about the firm, please refer to the "About Us" section of www.palladiem.com.

About Palladiem Partners

Palladiem Partners, L.P. is an independent, employee owned investment advisory firm that provides customized investment strategies and services to independent financial advisors, broker dealers and institutions through industry-leading capabilities in portfolio management, capital markets research, asset allocation, individually managed accounts and portfolio manager selection. Palladiem provides investment management services to individuals, public and private employee benefit plans, endowments and other institutional clients.  The firm is headquartered in Radnor, PA. News, research and other information about Palladiem are available at www.palladiem.com.

Please note that nothing in this document should be interpreted as financial advice.  Any opinions or comments contained in this document are correct as of the date of this release and are subject to change without notice.

SOURCE Palladiem Partners, L.P.