Prior to joining Alvarez & Marsal, Mr. Parets spent over 11 years at Bank of America where he led the most significant growth and efficiency projects within wealth management, including the strategic re-platforming of the $3 trillion wealth management business. He played senior roles across alternative and traditional investment management, innovating product structures, enhancing the firm’s advisory platform, developing sales and marketing strategies, and optimizing business models. Mr. Parets also divested multiple non-core assets, including the alternative investments feeder funds business ($20 billion in client assets) and $2 billion in proprietary funds-of-funds. Additionally, he oversaw governance functions and was the primary contact on regulatory interactions, exams, and remediations with the SEC, FINRA, OCC, and FRB. 

Previously, Mr. Parets worked at UBS in roles focused on restructuring the wealth management business to deliver on a segmented client experience and optimal advisor practice management model. Earlier, he managed engagements for diverse corporations and government clients at The Boston Consulting Group (BCG) and served as an investment banking analyst at Chase Securities. He has also provided independent strategic advisory services to a variety of fintech and other financial services clients, focusing on market entry strategies, business development, operational integration, pricing, and environmental, social, and governance (ESG) topics.

Mr. Parets earned a BBA in international business from The George Washington University and a J.D. from Harvard Law School. He is a member of the New York State Bar Association and holds Series 7, 79, 66, and 24 securities licenses from FINRA. Mr. Parets serves on the board for two nonprofits: Finpublica, a member-driven community of finance leaders focused on ESG, and Knology, a social science think-tank.