Former Mellon CIO's fledgling asset management firm acquired by $7B TwinFocus

It’s been quite the year for David Daglio. The former chief investment officer at BNY Mellon started his own tactical asset management firm and has now joined a $7 billion multifamily office which has acquired his firm.

Daglio spent 22 years at Mellon, where he united and integrated three distinct firms to create a leading $500 billion asset manager, the twelfth largest in the U.S.

But in March 2023 he founded BC-GUMPS, an asset manager “built to seize time-sensitive opportunities with high payoff and low risk.” Its curious name comes from a de-risking practice used by pilots.

“After 25 years in the investment business, it's beyond exciting for me to start with a fresh sheet of paper, building a firm which will afford us the opportunity to deliver value to clients regardless of the macro environment,” Daglio said at the time.

ACQUISITION AND NEW ROLE

Seven months later and the firm has been acquired by TwinFocus, a premier boutique multifamily office for global ultra-high-net-worth investors, entrepreneurs, their families, professional investors and select institutions.

Daglio becomes the Boston-headquartered firm’s CIO, succeeding the firm’s managing partner John Pantekidis. The pair will work together to guide the firm’s investment activities and global strategy.

“As a long-time client of TwinFocus, I have seen firsthand the care and dedication with which the team supports individuals, families and institutions throughout their wealth journey,” Daglio said. “I look forward to leveraging my experience and investment approach to continue delivering an unparalleled level of service to our clients.”

Wesley Karger, co-founder and managing partner at TwinFocus, says Daglio has impeccable credentials.

“With extensive leadership experience and unrivaled knowledge of the financial markets, Dave will play a pivotal role in shaping our investment solutions, enriching the value we bring to clients and driving our firm's success in the years to come,” he said. “In addition, we believe the research principals Dave developed at BC-GUMPS, which explicitly allow for the sourcing and extraction of asymmetric returns, can complement and enhance a diversified portfolio.”