First Manhattan Co (New York)


First Manhattan Co is a large advisory firm based in New York. It manages $20.28 billion of regulatory assets for 7,208 client accounts. It has been registered with the SEC as an adviser since 2001 and has operated in the jurisdictions of Alabama, Alaska, Arizona, and 47 other states.

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First Manhattan provides portfolio management for individuals and small businesses, portfolio management for pooled investment vehicles, and portfolio management for businesses and institutional clients. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

First Manhattan: assets under management

The assets under management (AUM) of First Manhattan Co is $20.28 billion. The firm's AUM has grown by 153% since the beginning of its operation, and $531 million of the total AUM is attributable to clients outside of the United States.


The firm manages $20.26 billion in discretionary accounts and $20.08 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $2.81 million each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $2.51 million.
First Manhattan has custody of $18.31 billion in cash and securities for 7,208 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 78% of the total AUM. The second-largest asset type is state and local bonds, which make up 10% of the firm’s portfolio. Investments in cash and cash equivalents form 9% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay First Manhattan Co for their services and products based on a percentage of assets under management, commissions, and performance-based fees. Compensation based on assets under management promotes a long-term relationship between a client and the adviser and helps align mutual interests. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients First Manhattan serves?

The firm provides services to individuals, charitable organizations, high net worth individuals, pooled investment vehicles, and pension and profit sharing plans. The largest group of clients of First Manhattan is high net worth individuals with 3,419 clients and $17.22 billion of assets under management. Among the 11 most similar advisory firms, First Manhattan has the highest percentage of high net worth individuals out of all clients.


The amount of regulatory assets under management is $20.28 billion for 7,208 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. 2% of the firm’s clients are foreign persons or businesses.

First Manhattan also advises several private funds. Namely, twelve other private funds. The minimum investment commitment required of non-related persons ranges from $10,000 to $1,000,000.

Careers at First Manhattan Co

The company employs 125 people that are either part- or full-time employees. 34 percent of the employees work as investment advisers or researchers. No employees are registered as investment adviser representatives with the state securities authorities.

There isn’t anyone with the role of looking for and bringing in new clients on behalf of the firm. The firm doesn’t compensate employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Leonard Charles Berman joined the executive team most recently as the Managing Member (For 5f Below "General Partner" = "Member").

Direct owners and executive officers



Name Entity Date acquired Ownership Employer ID
David Sanford Gottesman Chief executive officer/general partner 1 Jun 1964 25% - 50% 226348
Daniel Rosenbloom General partner 1 Oct 1971 Other 404508
Carrol Anthony Jr Muccia General partner 1 Oct 1976 Other 341963
Richard Anton Pearl General partner 1 Oct 1976 Other 358819
Allan Howard Glick General partner 1 Oct 1977 Other 223070
Charles Michael Rosenthal General partner 1 Oct 1977 Other 404562
John Ritter Loomis General partner 1 Oct 1982 Other 312512
Arthur Joel Stainman General partner 1 Oct 1984 Other 721091
Suzanne Marie Capellini Chief compliance officer/crop 1 Feb 1985 Other 1357703
Suzanne Marie Capellini Compliance director (for purposes of nyse rule 342.13(b)) 1 Aug 1986 Other 1357703
Michael Peter Helmick General partner/chief financial officer/chief operations officer 1 Oct 1986 Other 1515662
Michael Patrick Helmick Srop 1 Oct 1986 Other 1515662
David Mitchell Manischewitz General partner 1 Oct 1987 Other 318713
Suzanne Marie Capellini Crop 1 Apr 1988 Other 1357703
Robert William Gottesman General partner 1 Oct 1989 Other 825179
Alfred Byron Iii Nimocks General partner 1 Oct 1990 Other 1294583
Bernard Charles Groveman General partner 1 Jan 1994 Other 1185182
Keith Benjamin Josephson General partner 1 Jan 1994 Other 1581510
Neal Kravit Stearns General partner/chief legal officer 1 Jan 1995 Other 1719252
William French Guardenier General partner 1 Jan 1996 Other 703687
Todd William Green General partner 1 Jan 1997 Other 1040777
Samuel Flug Colin General partner 1 Jan 1998 Other 2590468
Jack Harry Varon General partner 1 Jan 2001 Other 1230320
Jay Lawrence Vodofsky General partner 1 Jan 2002 Other 1997130
Neal Kravit Stearns Chief legal officer 1 Jul 2002 Other 1719252
First Manhattan Llc General partner 1 Jul 2002 Other 82-0548916
Michael Peter Helmick Chief financial officer/chief operations officer 1 Jul 2002 Other 1515662
Bernard Charles Groveman Limited partner 1 Jan 2003 Other 1185182
Arthur Joel Stainman Limited partner 1 Jan 2004 Other 721091
Cheryl Marcia Kallem Chief financial/chief operations officer 1 Apr 2004 Other 1876957
Neal Kravit Stearns Chief compliance officer (for purposes of the investment advisers act rule 206(4)-7(c) and finra rule 3130) 1 Oct 2004 Other 1719252
David Sanford Gottesman Limited partner 1 Jan 2006 Other 226348
Robert William Gottesman Chief executive officer 1 Jan 2006 25% - 50% 825179
Charles Michael Rosenthal Limited partner 1 Jan 2008 Other 404562
Samuel Flug Colin Limited partner 1 Jan 2008 Other 2590468
Todd William Green Limited partner 1 Jan 2008 Other 1040777
Todd William Green Limited partner 1 Jan 2016 Other 1040777
Zachary A Wydra Deputy chief executive officer 1 Sep 2016 Other 2937857
Alvaro Spinola Pinto Chief financial officer 1 May 2017 Other 6367887

Indirect Owners

The SEC currently registers 26 indirect owners.

Name Entity Date acquired Ownership Employer ID
David Sanford Gottesman Managing member (for 5f below "general partner" = "member") 1 Jul 2002 Other 226348
Samuel Flug Colin Managing member (for 5f below "general partner" = "member") 1 Jul 2002 Other 2590468
Allan Howard Glick Managing member (for 5f below "general partner" = "member") 1 Jul 2002 Other 223070
Robert William Gottesman Managing member (for 5f below "general partner" = "member") 1 Jul 2002 25% - 50% 825179
Todd William Green Managing member (for 5f below "general partner" = "member") 1 Jul 2002 Other 1040777
Bernard Charles Groveman Managing member (for 5f below "general partner" = "member") 1 Jul 2002 Other 1185182
William French Guardenier Managing member (for 5f below "general partner" = "member") 1 Jul 2002 Other 703687
Keith Benjamin Josephson Managing member (for 5f below "general partner" = "member") 1 Jul 2002 Other 1581510
David Mitchell Manischewitz Managing member (for 5f below "general partner" = "member") 1 Jul 2002 Other 318713
Daniel Rosenbloom Managing member (for 5f below "general partner" = "member") 1 Jul 2002 Other 404508
Charles Michael Rosenthal Managing member (for 5f below "general partner" = "member") 1 Jul 2002 Other 404562
Arthur Joel Stainman Managing member (for 5f below "general partner" = "member") 1 Jul 2002 Other 721091
Jack Harry Varon Managing member (for 5f below "general partner" = "member") 1 Jul 2002 Other 1230320
Jay Lawrence Vodofsky Managing member (for 5f below "general partner" = "member") 1 Jul 2002 Other 1997130
John Ritter Loomis Managing member (for 5f below "general partner" = "member") 1 Jul 2002 Other 312512
Carrol Anthony Jr Muccia Managing member (for 5f below "general partner" = "member") 1 Jul 2002 Other 341963
Alfred Byron Iii Nimocks Managing member (for 5f below "general partner" = "member") 1 Jul 2002 Other 1294583
Richard Anton Pearl Managing member (for 5f below "general partner" = "member") 1 Jul 2002 Other 358819
Michael Patrick Helmick Managing member (for 5f below "general partner" = "member") 1 Jul 2002 Other 1515662
Cheryl Marcia Kallem Managing member (for 5f below "general partner" = "member") 1 Jul 2004 Other 1876957
Edward Isaac Lefferman Managing member (for 5f below "general partner" = "member") 1 Jan 2005 Other 305727
Timothy Carrol Muccia Managing member (for 5f below "general partner" = "member") 1 Jan 2008 Other 2184973
Andrew Michael Freedberg Managing member (for 5f below "general partner" = "member") 1 Jan 2010 Other 4245843
Allen Saul Zwickler Managing member (for 5f below "general parnter" = "member") 1 Jan 2012 Other 871323
Adam Harris Schwartz Managing member (for 5f below "general partner" = "member") 1 Jan 2014 Other 3072155
Leonard Charles Berman Managing member (for 5f below "general partner" = "member") 1 Jul 2017 Other 2057134

Based in New York

The principal office where First Manhattan Co performs its advisory services is located at 399 Park Avenue, New York, NY 10022, which is also the mailing address of the firm. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 212-756-3300 or by fax 212-671-1676. The normal business hours are 9:00 am - 5:00 pm on Monday - Friday. You can find more information about the New York firm at firstmanhattan.com and its LinkedIn profile.