WASHINGTON, July 14, 2010 (GLOBE NEWSWIRE) -- Convergent Wealth Advisors today announced that Douglas Wolford has been named as the company's new president. Mr. Wolford will be responsible for the firm's day-to-day operations, as well as strategic planning and execution. He will report directly to Steve Lockshin, Convergent's CEO.
"We are very pleased to have someone of Doug's caliber join Convergent's team," said Mr. Lockshin. "Doug's experience with rapidly growing companies will be extremely valuable as we take Convergent to the next level of success and industry leadership."
"I am pleased to join an acknowledged thought leader in the wealth management industry, and a team that is so passionate about providing clients with world-class service and innovative wealth management solutions," said Mr. Wolford. "I believe that Convergent has an almost limitless opportunity to shape the evolution of the entire wealth management industry."
"Bringing Doug on board will allow me to spend more time doing what I enjoy most – working directly with our clients and focusing on long-term opportunities," said Mr. Lockshin. "I am very proud of Convergent's growth and achievements over the past two decades and I am looking forward to an even more exciting future."
Wolford's background and skills complement the Convergent team well. Mr. Wolford began his career at blue-chip companies, growing innovative businesses at DuPont Company, GE, Network Solutions, VeriSign, and with a number of high-profile clients of his consulting business, Wolford & Company. In his 25-year career, he has co-led two public offerings that raised more than $2 billion, managed as many as 1,200 people on five continents and across every major functional area, and has specialized in executive and operational strategy and implementation in financial services, technology, and healthcare verticals.
Mr. Wolford earned a bachelor's degree in mechanical and aerospace engineering from North Carolina State University and an M.B.A. from the University of Maryland. In addition, he earned a diploma in French language from The Sorbonne, Paris, and has served on the adjunct faculty of The Johns Hopkins University's graduate business school.
About Convergent Wealth Advisors
Convergent Wealth Advisors is a recognized industry leader in wealth management, advising on over $13 billion in assets for individuals, institutions, and family offices (as of March 31, 2010). Convergent provides investment consulting services and customized wealth management solutions, including advice on concentrated stock strategies, alternative investments, collateralized lending, specialty financings, and insurance and estate planning, to over 350 ultra-high net worth individuals, institutions and family offices. Convergent is headquartered outside of Washington, D.C., with offices in Los Angeles, New York, Portland (OR), Rochester (NY) and Seattle. Convergent is a majority owned subsidiary of Convergent Capital Management, which is a subsidiary of City National Corporation (NYSE:CYN), the parent company of City National Bank.