Lightyear Capital, a private equity firm focused on financial services, has appointed Jerry W. Miller, former president and chief executive of Van Kampen Investments, as senior adviser on behalf of its affiliated funds.
Miller will draw upon his more than two decades of leadership experience in asset management and wealth management in working with Lightyear to identify and support investment opportunities in these areas.
Prior to leading Van Kampen, Miller was a division director for Morgan Stanley’s global wealth management group and a member of its executive and operating committees. Prior to his work at Morgan Stanley, Miller had a 21 year career at Merrill Lynch with multiple leadership roles in both its investment and wealth management businesses.
“Jerry’s executive management experience and insights into the asset and wealth management sectors will add to the development of new investment opportunities as well as enhance our operational capabilities,” says Donald B. Marron, chairman of Lightyear Capital.
Lightyear has two current portfolio companies in the asset and wealth management sectors. Cetera Financial Group is a broker-dealer serving over 7,000 independent financial advisers who oversee more than USD100bn of client assets. In April 2012, Cetera acquired the independent broker-dealer business of Genworth Financial Investment Services. Clarion Partners is a leading commercial real estate investment manager managing over USD24bn of properties throughout the US on behalf of clients. Lightyear remains focused on making additional investments in both the asset and wealth management sectors.
Miller says: “I have been working with Lightyear for several months already on various investment opportunities. They have a great team and reputation, and I look forward to our growing partnership.”
