| First Manhattan | |
| Industry: | Financial Services, Asset Management, Wealth Management |
| Location City: | New York City |
| Key People: | Robert Gottesman (executive chairman), Zac Wydra (CEO), Alvaro Spinola (CFO/COO) |
| Products: | Investment management, Private investment funds, and ETFs |
| Aum: | US$31+ billion (2024) |
| Num Employees: | 130 |
First Manhattan (FM), formerly First Manhattan Consulting Group (FMCG), is a wealth management firm founded in 1964 by a group of financial industry executives led by the late David "Sandy" Gottesman. FM remains independently owned and operated, with operating subsidiaries that include an SEC-registered investment adviser and a broker-dealer registered with FINRA. FM is led by Zac Wydra, CEO and portfolio manager, and Alvaro Spinola, CFO/COO.
FM is based in New York City.
David Gottesman founded First Manhattan in 1964. He was a director of the Securities Industry Association. He died on September 28, 2022, at the age of 96.[1]
Robert Gottesman, David Gottesman's son, joined First Manhattan in 1987.[2]
Brian Hartzer, who later moved to Australia, worked for the First Manhattan Consulting Group (FMCG), working in New York, San Francisco, and Melbourne, around the 1990s.[3] Hartzer concluded his time at FMCG as a vice president (partner).[4] [5]
MRJ Capital, a $168M AUM registered investment adviser founded by Matt Greenberg, joined First Manhattan in March 2022.[6]
In April 2022 the firm launched an exchange-traded fund (ETF), FMC Excelsior Focus Equity ETF (ticker: FMCX), an actively managed ETF, with Himayani Puri as the portfolio manager as well as being a partner and the head of research at FM.[7] [8]
First Manhattan provides investment advisory and wealth planning services to high-net-worth individuals, as well as to partnerships, trusts, retirement accounts, and institutional clients. The firm manages investments on a fully discretionary basis for accounts ranging from under $1 million to over $100 million. The firm currently manages in excess of $31 billion,[9] utilizing a research-driven, long-term, value-oriented investment approach.[10]
The firm's clients are significant owners of Berkshire Hathaway stock,[11] and the firm has established a reputation for utilizing investing strategies similar to that espoused by Warren Buffett.[12] The firm's founder, David Gottesman, was an early investor in Berkshire Hathaway and maintained a long-standing friendship with Buffett.[13] The firm's investment approach is to establish long term positions in portfolio companies, most often relying on fundamental analysis and targeting value in the public equity and fixed-income markets of the United States.
FM is based in New York City.
Robert Gottesman was the firm's executive chairman and a portfolio manager.[2]
the firm's Management Committee, led by CEO Zac Wydra and CFO/COO Alvaro Spinola, is responsible for the management and day-to-day operations of the firm.