As part of the change, the previous regional head will have a widened role encompassing wealth strategy.
Philadelphia-headquartered Glenmede, a wealth
manager with $49.3 billion of assets as of September 30 last
year, has appointed Joe Coconate (main picture) as managing
director and regional head of Florida.
Coconate, who is based in the firm’s Palm Beach office, will
report to Adam Douberly, director of regional markets. Coconate
has taken on the post formerly held for four years by Mark
Parthemer, who is now concentrating on an expanded role
as chief wealth strategist, the firm said in a statement late
last week.
Coconate will be mainly responsible for elevating Glenmede’s
profile in Florida, attracting talent, and developing
relationships with families of significant wealth, family
offices, and professional advisors. He will lead a team of
planning, fiduciary, and investment professionals.
With almost two decades’ industry experience, Coconate most
recently served as director, senior banker, at Citi Private Bank.
He has also served in leadership roles at Northern Trust,
Bank Leumi USA, and Credit Suisse.
“Glenmede has seen both a significant rise in the migration of
our existing clients and an increase in interest from prospective
clients in the region. Joe brings the experience and leadership
needed to support our thoughtful and disciplined growth,”
Douberly said.
The firm opened its West Palm Beach office in November 2018.