Siblings Christian Habitz and Sarah Damsgaard, who oversaw more than $1 billion at JPMorgan Chase & Co., have left the bank to form an advisory firm with offices in Chicago, Miami and Milwaukee.
The Invictus Collective will focus on creating portfolios of private investments for its ultra-high-net-worth and multigenerational family clients, said Habitz, 47. Their clientele typically have at least $100 million in net worth, he said.
Investment teams at Wall Street banks increasingly are branching off to create their own firms as advisers seek to exert greater control and keep a greater share of the revenue. Client demand for access to a broader choice of investments beyond publicly listed companies and funds spurred the move, Habitz said.
The siblings, who have worked together for six years, first at Credit Suisse’s private banking group and then at JPMorgan Securities’ Chicago office, often invest together on private deals.
“We have created a really diverse private investment portfolio much like we do in public portfolios,” said Damsgaard, 40, formerly a professional ballerina. “Many of our clients are also business owners, and are accustomed to having their own private equity in their business.”
Invictus partnered with Dynasty Financial Partners, a venture created by former Citigroup Inc. executives that provides trading platforms, record-keeping and product offerings.
Retirement confidence holds up amid pandemic
The post JPMorgan $1B brother-sister team leaves to start own firm appeared first on InvestmentNews.
As our second lead editor, Cindy Hamilton covers health, fitness and other wellness topics. She is also instrumental in making sure the content on the site is clear and accurate for our readers. Cindy received a BA and an MA from NYU.