Emigrant Bancorp, Inc., the parent company of Emigrant Bank, has agreed to acquire a majority interest in Boston-based Fortis Management Group LLC, a leading provider of comprehensive family office services to ultra-high-net-worth individuals and families. 

The acquisition coincides with the launch of Emigrant Family Office, a newly formed business unit affiliated with Emigrant Bank. The platform is designed to deliver a highly specialized, non-investment suite of family office capabilities to ultra-wealthy families and to registered investment advisors increasingly seeking to expand their offerings upmarket. 

Fortis, founded and led by CEO Jay Goldfarb, will serve as the cornerstone of the new division. The transaction brings Fortis’s 14-person team of experienced family office professionals into Emigrant’s broader ecosystem of wealth solutions, complementing more than 100 professionals across the organization. 

Emigrant Bank is one of the largest family-owned and operated banks in the U.S., with a history dating back to 1850, and is managed by the Milstein family. Across its affiliated businesses, Emigrant Bank supports ultra-high-net-worth families and RIAs through more than a dozen specialized operating businesses, including 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 others.  

The Milstein family also operates Summitas, a private family office platform enabling families and their advisors to organize and securely share their important information. 

“Our investment in Fortis is highly strategic and reflects Emigrant Bank’s long-standing commitment to building the industry’s premier family office platform,” said Liz Nesvold, Executive Chair of Emigrant Family Office and Vice Chair of Emigrant Bank.   

Leadership of Emigrant Family Office will include Mark Rogozinski, President, and Ken Eyler, Managing Director, who joined Emigrant in 2025. Rogozinski and Eyler have worked closely with Nesvold on the strategy and development of the new division. They will partner directly with Goldfarb, who will join the leadership team as Managing Director, and his team to integrate Fortis’s capabilities with Emigrant’s broader suite of specialty services. 

The acquisition of Fortis is expected to close in April 2026. Financial terms were not disclosed.