Crestwood Advisors has appointed a new president, Leah Sciabarrasi. Photo courtesy of Crestwood Advisors

Crestwood Advisors, a Boston-based investment advisory and wealth management firm, announced a new president to grow the company as more and more banks look to expand their wealth management presence in the region: Leah Sciabarrasi.

Crestwood is an independent, fee-only firm that advises high-net-worth individuals and families to meet their wealth goals. It has over $5.3 billion in assets under management, offices in Massachusetts, Connecticut and Rhode Island and 55 employees.

“Leah’s appointment as president is a natural evolution of her leadership within Crestwood,” Crestwood CEO, Managing Partner and Portfolio Manager Michael A. Eckton said in a statement. “Her dedication to the growth and success of the firm has been evident throughout the years, and I am confident in her ability to guide Crestwood in the years ahead.”

Sciabarrasi joined Crestwood at its inception in 2003, starting as a director, then became partner in 2008 and managing partner in 2017, co-leading the firm’s direction and strategic initiatives.

She has served charitable boards for over 15 years, which includes 10 years with Economic Mobility Pathways, eventually serving as its chair; co-chair for the professional advisory council of the Boston Foundation; a board member of PSC Partners Seeking a Cure; and sits on the external advisory board of the Harvard Digestive Diseases Center. She is also a member of the Boston Estate Planning Council and Ellevate.

“Leah has played a pivotal role in our firm’s impressive growth and continued team success. She also leads by example and pours herself into our community and our industry in meaningful ways, John W. Morris, Crestwood’s managing partner and wealth manager, said in a statement.

The wealth management space in Boston has been targeted as a growth sector by bank players such as Citizens Bank, First Citizens’ SVB Private arm, Berkshire Bank and Eastern Bank, through its pending acquisition of Cambridge Trust. More regional banks are looking to their wealth management businesses to grow amid a challenging economy with high interest rates.