Nuveen taps industry veteran Moshe Bajnon in private wealth push

Nuveen Private Capital, the private market investment platform operated by Nuveen, the investment manager of TIAA, has signalled its commitment to the private wealth space by hiring a seasoned industry professional to a brand new role for the organization.

On Monday, the firm announced it's welcoming Moshe Bajnon as senior managing director and global head of private wealth, effective October 29. Through the newly created role, Bajnon will oversee the expansion of the firm's private wealth platform and strengthen relationships with wealth platforms, broker-dealers, and registered investment advisors.

He will report directly to Ken Kencel, president and CEO of Churchill Asset Management, and Anthony Fobel, CEO of Arcmont Asset Management. Churchill and Arcmont are the US and European asset management arms of Nuveen.

Bajnon, who brings over 20 years of experience, will also serve as co-head of Churchill’s investor solutions group. Based in New York, he will focus on expanding access to private market strategies for wealth investors globally.

In a statement, Kencel emphasized the importance of democratizing private markets, with the alternatives space representing "over $70 trillion in untapped market potential."

“Private capital’s early growth was concentrated in the institutional market, but we believe the future lies in the democratization of alternatives," he said, adding that Bajnon’s experience in scaling wealth platforms would be “critical” to further expansion.

Prior to joining Nuveen, Bajnon was a partner at Ares Management, where he founded the private wealth group in 2016. He went on to co-head the group, and later established Ares Wealth Management Solutions in 2021. Before his tenure at Ares, he also held senior roles at Trian Partners and Morgan Stanley.

“As individual investor demand for alternative investment strategies increases, there is a significant opportunity to expand the Nuveen Private Capital footprint,” Banjon said, expressing confidence in both Churchill and Arcmont's "established track records" and "Nuveen's extensive global wealth team."

Nuveen Private Capital, which was formed in March 2023 following Nuveen’s majority acquisition of Arcmont, manages a $74 billion private capital platform, including $50 billion of committed capital under Churchill.