First Manhattan Co (New York)

Name: First Manhattan Co
Address: 399 Park Avenue, New York, NY, 10022
Telephone: 212-756-3300

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.

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.