Paul F. Costello
Managing Director

Paul began his career in 1978 at State Street Bank & Trust Company where he was responsible for the formation and management of the securities lending group. In 1983, Paul joined Norton & Company, a private investment banking firm, and then DML, Inc., a Wall Street-based financial software developer and consulting group. In 1986, Paul joined a start-up money management subsidiary of Monarch Capital Corporation where he held a number of senior executive positions within Monarch and its subsidiary companies, including President and Chief Executive Officer of First Variable Life Insurance Company. Paul joined Wheat First Butcher Singer in 1992 as Managing Director of the firm’s asset management company (Mentor Investment Group, LLC) and served as President of Mentor’s family of mutual funds until it merged with Evergreen Funds following First Union’s acquisition of Wachovia. After the merger, Paul served as Chief Operating Officer of Wachovia Securities, Inc., and then as President of Wachovia Securities, LLC, Business Services Group and as President and Chief Executive Officer of First Clearing, LLC, an affiliate of Wachovia.

Having held executive responsibilities in brokerage, investment management, insurance, technology and asset servicing businesses, Paul left Wachovia in 2006 to form Onyx Associates, LLC with a primary focus to help wealth management businesses successfully execute growth strategies, realize integration goals and streamline operations by reducing complexity and simplifying processes. As an Managing Director of Oyster Consulting, Paul works closely with clients to interpret and capitalize on convergence and consolidation opportunities to achieve material improvements in profitability, product/service delivery, technology platforms and operational support.

Paul earned a Bachelor of Science degree in Finance from the University of the State of New York, Regents College and completed The Executive Program at the University of Virginia, Darden School of Business Administration. He has also served on the Board of Directors of the Depository Trust & Clearing Corporation, The Steward School Board of Trustees and is a member of the Board of Directors of the World Affairs Council of Greater Richmond.