Bangor-based wealth management firm has first new president in 40 years
Courtesy / Means Wealth Management
From left, Means Wealth Management Chairman Paul B. Means, CEO Erin Barry and President Zachary P. Means.
A Bangor-based wealth management firm announced changes in leadership, with a familiar name taking over.
Means Wealth Management, which is family owned and was founded in 1935, has offices in Bangor, Presque Isle and South Carolina, where it has locations in Greenville and Greenwood.
This week the company said Paul B. Means has transitioned from the president role to chairman. Means, who joined the company in the early 1970s, succeeded his own father, company founder David G. Means, as president in 1981.
This week, a third-generation leader — and just the third president in 86 years — was named.
Zachary P. Means, the son of Paul Means, was promoted from CEO to president. Zach, as he’s known, joined the firm in 2009 and has served as both CEO and financial advisor. He is credited with helping the company grow from $150 million in assets under management to nearly $1 billion. Zach Means also serves on the board of Machias Savings Bank.
“I am honored to have Zach take the helm as president,” Paul Means said in a news release. “I am certain that his commitment to excellence and proven leadership will serve our clients and employees well for generations to come.”
In another significant move, Erin Barry has been promoted from chief financial officer to CEO. She is the first non-family member to serve as CEO, she told Mainebiz.
Barry joined Means Wealth Management as controller in 2019, and was later promoted to CFO. Prior to joining the firm, she was in Berry Dunn’s audit services group specializing in not-for-profit health care clients.
“I have worked closely with Erin [on this transition] over the past year,” said Zach Means. “I am certain that her attention to detail and dedication to our firm’s success will make this an easy transition.”
Most Recent
Most Recent
0 Comments