Emigrant Bancorp announced it has entered into an agreement to acquire a majority interest in Fortis Management Group, a Boston-area firm that provides family office services to ultra-high-net-worth individuals and families.
The deal coincides with the launch of Emigrant Family Office, a newly formed business unit affiliated with Emigrant Bank that will deliver a specialized suite of non-investment family office services to ultra-wealthy families and registered investment advisors seeking to expand their offerings.
Fortis, founded and led by CEO Jay Goldfarb, will serve as the cornerstone of the new Emigrant Family Office division. The deal brings Fortis’s 14-person team into Emigrant’s broader network of wealth-focused businesses, expanding the bank’s ability to support the complex financial, operational, and governance needs associated with significant wealth. Emigrant already has more than 100 professionals across its affiliated businesses serving ultra-high-net-worth clients.
Emigrant Bank, a privately held and family-owned institution with roots dating back to 1850, operates a range of specialized businesses serving wealthy individuals, families, endowments, and advisory firms. These include New York Private Bank & Trust, Emigrant Partners, Emigrant Bank Fine Art Finance, Personal Risk Management Solutions, Cleveland Private Trust Company, Sarasota Private Trust Company, and other affiliated platforms. The Milstein family, which manages Emigrant, also operates Summitas, a private family office technology platform designed to help families and advisors securely organize and share important information.
The newly created Emigrant Family Office unit will provide services including financial reporting, cash management, family governance, and coordination with tax, trust, and estate advisors. The platform is designed to serve ultra-high-net-worth families as well as RIAs seeking to offer institutional-level family office capabilities without building the infrastructure internally.
Leadership of Emigrant Family Office will include President Mark Rogozinski and Managing Director Ken Eyler, who joined Emigrant in 2025. They will work alongside Goldfarb and the Fortis team to integrate Fortis’s capabilities with Emigrant’s broader ecosystem of services.
The acquisition of Fortis Management Group is expected to close in April 2026. Financial terms of the transaction were not disclosed.
KEY QUOTES:
“For decades, we have built a broad set of specialized capabilities to serve the increasingly complex needs of wealthy families. Emigrant Family Office brings these capabilities together into a single, coordinated platform — fulfilling a long-standing vision of providing families and their advisors with an integrated solution supported by exceptional talent across our organization.”
Howard P. Milstein, Chairman and CEO of Emigrant Bank and Emigrant Bancorp
“Our investment in Fortis is highly strategic and reflects Emigrant Bank’s long-standing commitment to building the industry’s premier family office platform. The Fortis team is among the most respected and capable in the industry, with a rare ability to align sophisticated solutions to the complex, real-world needs of ultra-wealthy families. Together, the addition of Fortis and the launch of Emigrant Family Office represent a meaningful inflection point for the market.”
Liz Nesvold, Executive Chair of Emigrant Family Office and Vice Chair of Emigrant Bank
“We have known the Emigrant team for many years and share a common vision for the future of family office services. By combining Fortis’s deep expertise with Emigrant’s platform, scale, and reach, we have a unique opportunity to redefine both the breadth and quality of services available to wealthy families and the advisors who serve them.”
Jay Goldfarb, CEO of Fortis Management Group
“We are seeing a meaningful acceleration in the number of RIAs looking to build or scale family office capabilities as they move upmarket. Over the past year, we’ve worked closely with the RIAs across the Emigrant Partners portfolio to understand where they see the greatest opportunities — and the greatest gaps. With today’s announcement, we are excited to bring these capabilities to a much broader audience.”
Mark Rogozinski, President of Emigrant Family Office
