HighTower elevates Pottruck, adds two top execs

HighTower Advisers, the registered investment advisory firm and rising independent broker-dealer powerhouse, has built out its management team and expanded the role of one of its top directors: David Pottruck, the former chief executive and president of The Charles Schwab Corp. Mr. Pottruck, who has been a director at HighTower since December, will now serve as co-chairman at the adviser-owned firm alongside Doug Brown, a former vice chairman of investment banking at Morgan Stanley. Mr. Pottruck now runs Red Eagle Ventures, a private-equity firm that has an ownership stake in HighTower. In addition to his elevation, HighTower also hired two economists to be part of the firm's management team.
Martin Eichenbaum, professor of economics at Northwestern University, and Sergio Rebelo, professor of international finance at Northwestern's Kellogg School of Management, will join HighTower as the firm's chief economic advisers. Mr. Eichenbaum and Mr. Rebelo are also co-directors of the Center for International Economics and Development. E-mail Mark Bruno at mbruno@investmentnews.com.