North America

Sallie Krawcheck, the incoming wealth management head at Bank of America, unveiled her new leadership team.

The line-up includes eight executives from the former Merrill Lynch, two from BoA and a new hire from Citigroup as her direct reports.

Ms Krawcheck put former Merrill executive Lyle LaMothe in charge of the bank’s US brokerage force. Keith Banks and John Thiel are the new co-leaders of Private Wealth Management, with Mr Banks also serving as president of US Trust, the New York wealth management unit for high net worth clients that BoA bought in 2006.

The external hire is Andy Sieg, the new head of Retirement and Philanthrophic Services, who joined from Citigroup.

Eva Castillo will continue to serve as head of EMEA Wealth Management, and Chris Dupuy will continue to lead Global Investment Solutions.

John Hogarty is now GWIM chief operating officer; Antony Hung will remain head of Asia Pacific Wealth Management; Lyle LaMothe will continue as head of US Wealth Management; and Brian Sepe remains head of Latin America and Canada Wealth Management. Michael Sullivan, meanwhile, will continue as head of the Global Client Coverage Group.

JP Morgan Chase made senior leadership changes in its investment bank and asset management businesses.

Mary Callahan Erdoes, chief executive of the private bank, will take over from Jes Staley as CEO of asset management and will join the firm’s operating committee.

Steve Black, co-chief executive of the investment bank, steps up to executive chairman. Mr Staley becomes chief executive, reporting to him and continuing to serve on the firm's operating committee. Bill Winters, the other co-chief executive of the investment bank, will leave the company.

California-based advisory firm Seiler added three new principals. Daniel Hall and Elizabeth Sevilla have joined the HNW practice; Jed Greene has joined the commercial litigation practice.

Mr Greene and Mr Hall are based in the San Francisco office and Ms Sevilla is based in the Silicon Valley office.

JP Morgan appointed Mary Ann Best as a vice president and senior private banker in its Washington DC office.

In her new role Ms Best will focus on ultra high net worth private clients and foundations in the Washington DC and Charlottesville, Virginia areas, providing investment, succession planning and credit advisory services. Ms Best formerly spent nine years as a principal and financial advisor at Bernstein Global Wealth Management.

Merrill Lynch saw the departure of a Hawaii-based team than a year after facing a lawsuit over their defection from Morgan Stanley.

The team, known as the Choy Kinney Wo Group, comprises Carl Choy, Lynne Kinney and Ronald Wo.

US-basedSignature Bank appointed two private client banking teams to be located in Manhattan.

Ronald Berkowitz, Gabrielle Stern and Abidus Chowdhury were each named group director and senior vice president at Signature Bank.

Mr Berkowitz and his team joined from TD Bank, where he most recently served as senior branch manager.

Joining Mr Berkowitz's team is Howard Green, who was named associate group director and vice president. Mr Green worked with Mr Berkowitz at his previous institution where he served as branch manager

Kimberly Mohammed was named senior client associate. Ms Stern, was most recently vice president, Business Banking at the Tribeca branch of HSBC where she was responsible for portfolio management and business development.

Mr Chowdhury worked with Ms Stern in Tribeca, where he was vice president/branch manager. He joined Republic National Bank in 1996 prior to its acquisition by HSBC.

Ms Stern and Mr Chowdhury's team was also joined by Nicholas Matthias, who will serve as senior client associate

BNY Mellon Wealth Management appointed industry veteran Doris Meister as its regional president for the New York area.

Ms Meister was most recently a senior vice president with AllianceBernstein. Prior to that, she was head of Merrill Lynch's Private Banking and Investment group.

Harris Private Bank has hired former US Trust market executive Mary Jo Herseth as head of depository and lending services for its high net worth and ultra high net worth businesses.

Most recently Ms Herseth was head of Bank of America's US Trust unit's business in Illinois and Michigan - a role she came to through Bank of America's purchase of LaSalle Bank in October 2007.

First Republic, the San Francisco-headquartered private bank and wealth manager, which is a division of Merrill Lynch, has appointed a new head for its securities business.

Lisa Gary was hired as managing director of First Republic Securities Company to work with individual investors, families, businesses, foundations and non-profit organisations from its Los Angeles office.

Previously Ms Garey worked as an account vice president for the Private Wealth Management Division of UBS Financial Services.

Presidio Financial Partners appointed three managing directors for its wealth management group:  Los Angeles-based Mike Blackman, formerly a director of wealth management in JPMorgan Chase's southern California region; San Francisco-based Will Evers, formerly a principal of Bernstein Global Wealth Management in San Francisco; and Dallas-based Bill Fritz, who joins from Deutsche Bank Alex. Brown.

“The $3 million in new capital and the hiring of world-class executives like Mike Blackman, Will Evers and Bill Fritz are part of the unique growth story taking place at Presidio Financial Partners - despite the turmoil elsewhere in the financial-service industry,” says Presidio's chief executive Brodie Cobb. “Presidio is succeeding because of the integrity of its business model, its focus on risk management and the quality of its outstanding team of professionals.

Twelve-year-old Presidio, which has more than $3 billion in assets under advisory, raised the new capital from investors in the US. The firm will use the money to hire additional wealth-management and corporate-advisory professionals and to expand into new US markets "as opportunities arise," Presidio says in a press release. Right now the firm has offices in San Francisco, Los Angeles and Dallas.

Harris Private Bank appointed Matt Miller as a senior wealth strategist for the Arizona market. He previously worked at JP Morgan Private Wealth Management as a senior wealth manager.

Michael Montgomery has joined the Harris Private Bank’s Arizona team to lead its new Harris myCFO office, with a focus on delivering a comprehensive family office solution to ultra high net worth individuals and families. He previously worked as a managing director with Tolleson Wealth Management, a multi-family office based in Dallas.

Aladdin Capital hired Peter Graham as its managing director of finance. He will be based at Aladdin’s head office in Stamford, Connecticut and hold chief responsibility for organisational and strategic financial management as the firm continues to expand.

Mr Graham joins Aladdin with over twenty years experience in strategic financial management and operations at Merrill Lynch and most recently at Clay Finlay.

Louisiana-basedIberiabank named Jefferson Parker as vice chairman and manager of brokerage, trust and wealth management.

Mr Parker has been affiliated with the company since 2001 when he joined the board. Until 31 January 2009, he was president of Howard Weil, a New Orleans-based equity research, investment banking and trading firm focused on the energy industry, where he served in a number of capacities for 33 years.

Asset manager Davidson Investment Advisors hired Steven Pines, formerly an institutional investment consultant with Northern Trust, to lead its institutional business-development efforts, including outreach to foundations and endowments.

Toronto-based CI Financial is to make Steven Donald chief executive of its Assante Wealth Management subsidiary when Joseph Canavan steps down in November 2009 after six years at the helm. Donald is now Assante's president and chief operating officer, a position he has held since mid 2005. 

Boston-based multifamily office Silver Bridge Advisors hired former Wilmington Trust managing director Benjamin Ledyard as business head for its mid-Atlantic region.

He will be responsible for business development in along the US Eastern Seaboard roughly between New York and Washington, DC. Most recently, Mr Ledyard was a senior advisor at Wilmington Trust, a director of its wealth strategies team and head of the its family-office subsidiary on the US East Coast. 

Connecticut-based boutique investment bank and hedge fund manager Aladdin Capital Holdings appointed Kathleen Stephansen to the new position of chief economist. 

Ms Stephansen previously worked as head of global economics at Credit Suisse  from 2000 to 2009.

Fiduciary Trust hired former US Trust advisor Kimbrough Towles as an investment consultant in New York. She reports to the firm's wealth management head Gail Cohen.  

Debra Feeks was appointed relationship manager, also joining Fiduciary Trust's investment team from US Trust.

John Mack is to step down from his post as chief executive at Morgan Stanley, Under the change James Gorman, head of Morgan Stanley’s wealth management business, will replace Mr Mack, who retains his role as chairman. Mr Gorman takes up the post next year.

Morgan Stanley also announced that co-president, Walid Chammah, will become chairman of Morgan Stanley International at the end of this year and continue to be based in London.

David Kahn has joined Washington DC-headquartered Convergent Wealth Advisors, a subsidiary of Convergent Capital Management and its parent company City National Corporation, as a director in the firm's Los Angeles office.

Mr Kahn will be working with ultra high net worth individuals and family offices on the west coast. He joins from Wilmington Trust Company where he was a managing director and a private client advisor working with high net worth clients providing advice on estate planning, investment strategy, asset allocation and portfolio construction.

RBC Wealth Management appointed Patrick Duff and Vincent Crudo as senior vice president - financial consultants for its New Haven, Connecticut office.

The pair join RBC Wealth Management from Morgan Stanley Smith Barney, where they were part of the institutional fixed income team. The third member of their team is senior associate Tracey Ten Eyck.

Barclays Wealth has appointed Marty Courage as managing director and branch manager of its Boston office, joining the UK-based firm from JP Morgan Private Wealth Management.

In his previous role, Mr Courage served as head of the Boston, New England Market.

Tim Kochis will reportedly step down as chief executive officer of Aspiriant, one of San Francisco’s largest wealth advisories, with effect from 1 November 2009. It is understood that Mr Kochis will return to the firm after a six-month sabbatical to work with clients, help with business development and chair Aspiriant’s board.

Rob Francais will take over as Aspiriant's CEO; he is the former CEO of Los Angeles-based Quintile Wealth Management. Tom Tracy will become Aspiriant’s chief operating officer.  

Wells Fargo has put former Wachovia Wealth Management advisor Douglas Macdonald in charge of private banking for its wealth management group in Houston. 

Before joining Wachovia in 2005, he was with JPMorgan Chase. He has also worked at Bank of America and Bank of New York (now part of Bank of New York Mellon).

Geller & Co, a New York financial advisory and wealth management firm, has hired Steve Fadem as senior managing director and chief operating officer. 

Until recently, Mr Fadem was president and chief executive of The Relegence Corporation, an online search business for the financial services industry that is now part of AOL.

JP Morgan appointed senior executive James Walker as head of investments for private clients in Europe, Middle East and Africa.

Based in Geneva, Mr Walker will oversee the development and delivery of the firm’s multi-asset class investments, with dual reporting to Phil Di Iorio, global head of investments, and Pablo Garnica, head of the private bank in EMEA.

Mr Walker replaces Simon Wise, who will become the regional director for the Wall Street firm’s private wealth management business in the western region of the US and relocate to Los Angeles.

Mr Walker has been with JP Morgan for 12 years. He was formerly head of investments for the private bank in the western US.

Chicago-based broker-dealer David A Noyes & Company added six financial advisors in the US Midwest.

The new Noyes advisors are: Constance Etter (formerly with UBS), Robert Runnfeldt (also from UBS), Carla Voss (from Nations Financial), Marci Arnheim (from Morgan Stanley Smith Barney) and John Majcher (from First Trust) in Chicago. Shawn Woodward (formerly with Merrill Lynch) has joined Noyes' Indianapolis office.

AsBNY Mellon Wealth Management appointed Amy Millman as regional president of San Francisco.

Ms Millman will succeed Jack Cortis, who will be regional chairman. Both will report to Dave Holst, who heads BNY Mellon WM - West.

Down the coast, the firm appointed Kristin Nelson and Dean Catalano as senior directors of sales as part of the same strategic expansion.  

Washington State-based Charter Bank appointed James Garvey as chief executive officer in anticipation of Keith Jackson`s planned retirement in 2010.

Mr Garvey was hired as president and chief operating officer of the Boston Private-owned bank in July of this year.

Gary Poth, a senior banking professional, was named director of sales and strategy for Key Private Bank, a US bank based in Cleveland.

Meanwhile, Timothy Swanson, a senior banking executive, joined the firm as chief investment officer for the private bank. Both men will report to Tim Lathe, executive vice president and head of Key Private Bank.

Mr Poth rejoins Key from National City Corporation where he was chief financial officer for both the Private Client Group and Allegiant Asset Management. Mr Swanson also joins Key from National City Corporation, where he was executive vice president and chief investment officer for the Private Client Group.

UK

HSBC Private Bank has appointed Chris Allen as head of its alternative investments division, a London-based role he will take up at the start of January 2010.

Mr Allen, who is currently head of real estate at HSBC Alternative Investments Limited (HAIL), will become the division’s managing director. He will report locally to Nigel Webber, chief investment officer of HSBC Global Private Banking, while functionally he will report to Peter Rigg, global head of HSBC Alternative Investment Group.

UK private bank Kleinwort Benson bolstered its Edinburgh office with the appointment of private banker Chris Arbuthnott.

Mr Arbutnott joins Kleinwort Benson from Arbuthnot Latham, where he spent three years as a private banker managing the financial affairs of both private clients and their families, and of charities.

Barclays Wealth appointed Oliver Gregson as its new head of UK investment advisors.

The announcement comes after Mr Gregson left his directorial position at UBS, as exclusively reported by WealthBriefing in July Prior to his role as director and senior client advisor at UBS’s London desk, Mr Gregson worked at Citigroup Private Bank.

As head of UK investment advisory within Barclays Wealth's Investment & Product office, Mr Gregson will lead a team of investment advisors who specialise in providing investment advice to UK-based relationship managers and clients. He will report to Craig Lewis, head of investment advisory.

UK-basedBarclays Wealth appointed Kevin Gardiner as managing director and head of investment strategy for the Europe, Middle East and Africa region.

Mr Gardiner will be responsible for developing and implementing the company’s investment strategy recommendations worldwide. He will be reporting to Aaron Gurwitz, global head of investment strategy and Arnaud de Servigny, global head of research strategy and quantitative analytics.

Mr Gardiner joins the company from HSBC, where he held the position of a chief global equity strategist. His career includes over two decades of experience as a strategist at Credit Suisse, JP Morgan, Morgan Stanley and SG Warburg.

UK-based investment house River and Mercantile Asset Management appointed Tomas Tomasson as a partner and an analyst in the recently formed global equities division, headed by Alex Stanic.

Mr Tomasson previously worked at Lazard as a buy-side technology analyst.

Union Banque Privée, the Geneva based private bank, appointed Richard Katz was to its board of directors at the firm’s annual meeting.

Mr Katz is currently a director of Leveraged Capital Holdings Investments and Asian Capital Holdings Fund. He sits on the executive committee of Quantum Endowment Fund where he has been a director since 1986. Furthermore, he sits on the boards of directors of Quantum Industrial, Quantum Realty and Asian Infrastructure Development Holdings.

HSBC Private Bank appointed Willem Sels as head of its fixed income strategy in the UK.

Reporting to Fredrik Nerbrand, the head of global investment strategy, Mr Sels will focus on building bond-focused client solutions in sovereign and credit markets, the firm said in a statement.

Before joining HSBC Private Bank, Mr Sels was head of credit strategy at Dresdner Kleinwort.

Matrix Corporate Capital, part of London-based financial services group Matrix, appointed Oliver Hoare as head of pan-European equity sales.

In this newly-created role Mr Hoare will build a team to complement the company’s pan-European brokerage. Mr Hoare’s prior career includes roles at Collins Stewart and Commerzbank, where he ran pan-European equity sales. Before this he worked at New Court/Merrill Lynch.

UK-basedIgnis Asset Management appointed Rob Page as marketing director, a role he will take up in early 2010.

Mr Page will be responsible for all group marketing functions including implementation of marketing strategies and communications to support the continued expansion of Ignis’ retail, institutional and international propositions.

Mr Page joins the company from Liontrust, where he was responsible for the promotion of funds to professional investors and advisors in the UK and Europe.

UK-basedHenderson New Star appointed Ainslie McLennan as co-manager of the New Star UK Property Unit Trust.

Ms McLennan, who joined Henderson Global Investors in 2002 and was formerly responsible for running the UK and European commercial property portfolios for institutional clients, will be working alongside Marcus Langlands Pearse.

AXA Wealth, appointed Marc Davies as executive director, AXA Distribution Services, while Martin Jennings, was named director of product development and marketing, AXA Wealth.

Within AXA Winterthur Wealth Management, Nick Elphick continues in his role as chief operating officer but also assumes additional operational responsibilities for AXA Wealth’s offshore business in the Isle of Man.

David Thompson was appointed managing director, Wealth Investments & Distribution, with overall responsibility for the business’s investment and distribution strategy. Tom Wilkinson, meanwhile, took up the role of director of strategy and business development, responsible for setting AXA Wealth's strategic agenda.

MetLife Europe bolstered its management team with the appointment of Andy Marks to the newly-created post of business development director.

In his new role Mr Marks will be responsible for driving new business opportunities with MetLife’s existing IFA network and developing new sales channels which the firm believes will emerge in the run-up to the Retail Distribution Review’s implementation. He will report to Dominic Grinstead, MetLife’s UK managing director.

Mr Marks was formerly managing director, sales at The Hartford, having joined the firm in 2007.

London-basedEden Financial boosted its fixed income team and multi-asset class investment expertise with the recruitment of Gaurav Singh as global credit analyst.

Mr Singh was formerly a senior investment analyst for the Stamford Global Event Driven Fun, specialising in high yield bonds, loans and event-driven credit strategies.

Investment management consultancy Laven Partners hired Robert Mirsky as managing director. He will be responsible for the development of a new alternative investment platform for family offices, institutional investors and wealth managers.

A US-trained lawyer, Mr Mirsky joins from Ernst & Young UK where he was a partner and co-leader of the European hedge fund practice. Prior to this, he was head of Deloitte’s UK hedge fund practice.

Seattle-basedRussell Investments promoted Irshaad Ahmad to the new role of managing director, UK. 

Mr Ahmad joins the EMEA team from Russell’s Canadian business, which he joined in 2004 from Mercer where he held a senior role in their investment consulting business in Canada.

US and international law firm McDermott Will & Emery hired Martyn Gowar and Andrew Vergunst to establish an international private client team in the firm’s London office.

Mr Gowar has been a senior partner at Lawrence Graham and consultant to Penningtons, while Mr Vergunst joins from the London office of Maitland, where he held positions as group director, law partner and the head of their private client department.

SEI, the US financial services and technology firm, appointed Jason Collins as head of UK and European equities.

In his new London-based role, Mr Collins will lead the UK and European Equity team, with responsibility for research, portfolio construction and manager selection of all SEI’s UK and European manager-of-managers funds. He will report to Kevin Barr, head of SEI’s Investment Management unit, and will also assume management responsibilities within the London office.

Mr Collins was most recently a co-founder of Maia Capital, the London-based multi-manager investment boutique.

WH Ireland, the UK-listed private wealth manager, appointed Lindsey Hamilton as head of wealth management, joining from Allied Irish Bank’s Independent Financial Services arm.

Also from joining from AIB were Angela Wise, Jayesh Ratna, Panvir Thind, Zoltan Molnar and Christy Morrison. 

UK law firm Buss Murton Law strengthened its private client team with the appointment of Alex Cuppage. He joined from the London firm Campbell Hooper, where he was a partner and head of its private client department.

Mr Cuppage’s work encompasses advice on the tax implications of various trust structures, drafting of wills, offshore tax planning, residency and domicile matters and acting as a trustee to both large and small estates.

A senior investment director at Rensburg Sheppards has formed a double business partnership at London-based Brocklebank Investment Management and Raymond James Investment Services, the UK private client arm of Florida-headquartered Raymond James Financial.

Richard Arnatt has joined Raymond James as an investment manager but will also conduct business as Brocklebank Investment Management, alongside RJIS colleague Tim Brocklebank-Fowler.

London-basedCarne Global Financial Services, an independent advisor to the wealth management industry, has appointed Bill Blackwell as product development specialist and Aman Jairath as regulatory compliance specialist.

Mr Blackwell will be responsible for product development in London with capacity to work with clients across Carne’s other offices. He has spent over 17 years within the fund investment management industry and his career includes roles at JP Morgan and PIMCO.

Mr Jairath, meanwhile, has in-depth knowledge of regulation and compliance within UK wealth management, the firm said in a statement. He joins Carne from the CCL Partnership.

Barclays Wealth appointed John Saunders to the post of managing director and head of its proposition for UK resident non-domiciled clients. He joins from UBS, where he had been a senior member of the London-based leadership team of UBS Wealth Management for the last 10 years.

In his new role Mr Saunders is responsible for overseeing the ongoing development of Barclays Wealth’s resident non-dom proposition and its delivery across the business, and for building its profile and expertise.

London-based law firm Berwin Leighton Paisner hired private-client specialist Murray North from magic circle law firm Clifford Chance to bolster its trusts and personal tax team.

Mr North, a barrister and a solicitor, specialises in providing personal tax and trust advice to ultra-high net worth individuals and associated entities, many of whom are based overseas or in the UK as resident non-domiciles.

Future Capital Partners, UK-based alternative investment boutique, appointed Trevor Castledine as chief operating officer.

Mr Castledine will be responsible for all of the company’s operations, organisational development and strategy delivery. He joins the company from Royal Bank of Scotland where he worked as managing director and head of financial products.

Coutts, the UK private bank which is part of Royal Bank of Scotland Group, confirmed the departure of relationship manager Nathalie Dauriac-Stoebe. In addition, Claudia Giger left RBS Coutts, the international sister private bank of Coutts.

While Ms Dauriac-Stoebe’s next role is as yet unknown, Ms Giger has been hired by Schroders Private Banking for a Switzerland-based role.

London-based investment manager Ruffer appointed Hermione Davies as investment director.

Ms Davies joins Ruffer from Bessemer Group (UK) where she was the managing director and chief investment officer of the group’s non-US investments.

Robert Kyprianou, the chief executive of AXA Framlington, the qualitative equity brand of London-based AXA Investment Managers, will retire by the end of this year. Mark Beveridge, meanwhile, has been appointed global head of AXA Framlington.

In his new role Mr Beveridge assumes responsibility for the brand’s growth and development, and will be working alongside Stephane Prunet, AXA IM’s global head of equities.

Mr Beveridge joins the company from Goldman Sachs Asset Management where he was chief investment officer of global equity; his career also includes senior roles at Franklin Templeton Group and Fort Lauderdale.

Matrix Corporate Capital, part of London-based financial services group Matrix, hired two KNG men as co-heads of fixed income.

Bill Blain and Jim St Johnston will jointly head up the business advising individual clients on investments as well as developing a platform for financial institutions focused on raising capital for mid-sized banks and insurers.

Mr Blain latterly ran the financial institutions debt capital markets team at HSBC and Mr St Johnston was global head of syndicate at ABN Amro, running ABS, the bank capital and emerging markets businesses.

Guernsey-basedTrust Corporation has hired Andréa Taylor and Mark Coffell into their management team. Mr Coffell joined from Close Trustees, Ms Taylor from Fortis.

Kelly Noel-Smith has joined Mayfair law firm Forsters as a partner in the offshore tax and trust team.

Ms Noel-Smith joins Forsters from London firm RadcliffesLeBrasseur, where she was head of the private client group. She advises settlors, trustees, beneficiaries and the directors of non-resident companies on the implementation of offshore structures and their UK tax consequences. She also acts for English landed estates and has expertise in heritage property

London-basedJupiter Asset Management has appointed Ben Surtees as manager of the Jupiter Asian unit trust.

Mr Surtees takes over management of the £46 million ($74.7 million) Jupiter Asian fund from Philip Ehrmann, who has managed the portfolio since joining Jupiter in October 2006.

Mr Surtees, who joined Jupiter in 1997, has worked on the firm’s Asia desk since 2000 and has run the Jupiter Asia Pacific fund (Sicav) since 2005. He also manages the Asia ex-Japan segment of the Jupiter Global Managed fund.

UK-based investment manager Baring Asset Management appointed Kommera Chakradhar Reddy as head of India equities. Based in London, Mr Reddy is responsible for managing exposure to India equities across Barings’ range of emerging markets products and reports to James Syme, head of global emerging markets.

Mr Reddy was most recently chief investment officer at ABN Amro Mumbai, a post which he held for 15 years.

London-basedJupiter Investment Management Holdings appointed Philip Johnson as chief financial officer. Mr Johnson joins Jupiter from Marshall Wace, where he was finance director.

South African-based Investec Trust Group appointed Xavier Isaac as Chief Executive

Mr Issac will head up the group's global operations, covering offices in the Channel Islands, Mauritius, Switzerland and London. He replaces Robert Clifford who left to “pursue other professional and personal interests”, and had been in the role since 2000. Mr Isaac previously served as managing director of Investec Trust in Switzerland.

Offshore law firm Appleby strengthened its private client and trusts practice in Jersey with the appointment of Marc Guillaume. Mr Guillaume advises on all aspects of trust law, particularly specialising in foundations, pensions, employee benefits and charities. He has worked for two other global firms in Jersey: Ogier and Mourant.

Evelyn Brady was made a partner at PricewaterhouseCoopers in the Channel Islands. Based in the Guernsey office, Ms Brady provides assurance services to the financial services sector in both Guernsey and Jersey, specialising in asset management and insurance.

Switzerland

UK-based investment company Martin Currie appointed Dominik Issler as country head for its Swiss business. Mr Issler has previously been CEO at Fortis Investments/ABN Amro Asset Management.

Sergio Marchionne (chief executive officer of Fiat) and his colleague Peter Voser (chief executive of Shell) will not stand for re-election to the board of directors of UBS at the general meeting set for 14 April 2010. Both will focus on their management positions.

Jean Berthoud, chief executive and principal shareholder of Banque Bonhôte, the Swiss private bank, will step down on 1 January 2010, taking up the role of the board’s chairman. He will be replaced as CEO by Patrick Bédat, who will join from Pictet, the Geneva-based private bank.

Morgan Stanley Private Wealth Management appointed Mauricio Sanchez, a senior manager from Merrill Lynch in Geneva, as executive director and head of Latin America operations. He will continue to be based in Geneva.

Swiss private bank Clariden Leu appointed Ariste Chiabotti from UBS in Zurich as head for premium client solutions. He will report to Adrian Nösberger, head of private banking Switzerland and member of the bank’s executive board.

Morgan Stanley Wealth Management hired Dr Patrick Fuerer as a managing director and chief operating officer of Bank Morgan Stanley, the Swiss subsidiary of the US-based wealth management firm. He joins from Raiffeisen Group Switzerland.

AAM Privatbank, the Swiss private bank owned by Basler Kantonalbank (BKB), appointed Dr Retro Erdin as new CEO, replacing Ralph Sauser. In addition, Hans Ringger joins AAM Privatbank’s management as the bank’s head of private banking. Both join from BKB.

UBS Wealth Management appointed Christoph Schenk as chief investment officer. Previously, he has been chief executive of pensions at the Zurich-listed firm.

Kristinn Kristinsson, head of private banking in Geneva at Bank Sarasin & Co, left the company due to personal reasons, a replacement has not yet been announced.

Geneva-basedMirabaud & Cie appointed Lionel Aeschlimann as a managing partner, with effect from 1 January 2011. He will however initially join the private bank on 1 January 2010 as a member of the executive committee.

Sarasin Group, the Swiss-listed private banking and investment firm, appointed Caroline Steffen as its new head of corporate marketing, based in Basel. She joins from UBS, where she held various consulting and marketing functions at group level since 1992.

Zurich-based private bank Clariden Leu appointed Thierry de Loriol as head of Private Banking Europe Geneva/Clariden Leu Representative Romandie. He succeeds Ernst Klossner, who is to remain at Clariden Leu as a senior relationship manager. Most recently Mr de Loriol was the chief executive of Sinara Capital Management, the Geneva-based asset management company.

Europe

Patrick Chalmers and Sharon Thomas both left the South Africa-based Standard Bank, where they focused on serving high net worth Russian clients.

Banque de Gestion Privée Indosuez, the French specialist private banking arm of Paris-listed Crédit Agricole, appointed Laurence Lebrun-Renoult as deputy chief executive officer. Prior, Ms Lebrun-Renoult headed the development of funds and personal customer business at Fédération Nationale du Crédit Agricole

Mediterranean Bank, the Malta-based private bank, appointed Francis Vassallo, formerly governor of the Central Bank of Malta, chairman and Mark Watson, previously co-head of Citigroup Global Credit Markets, CEO.

Barclays appointed Bob Foresman as country head for investment banking and investment management to oversee the bank’s operations in Russia. He will be based in Moscow. He joins from Renaissance Capital, where he was deputy chairman.

JP Morgan appointed former BNP Paribas man Emmanuel Siac as a senior private banker in France, reporting to Jean-Baptiste Douin, head of the private bank in the country. Mr Siac will primarily be focusing on advising and developing relationships with clients in France.

Nikolai Tsekhomsky, chief financial officer at VTB Bank, the Russian-based bank and wealth manager, resigned. He will be replaced by Gerbert Moos, chief executive at VTB Capital.

Barclays Wealth appointed Íñigo Calderón as head of its Spanish business. He joins Barclays Wealth from Deutsche Bank, where he was most recently based in Spain as deputy head of the bank’s private wealth management business.

Alexandre de Rothschild, son of Rothschild chairman David de Rothschild, will join the family bank, media reports suggest. Alexandre de Rothschild joins the family bank from Argan Capital, Bank of America’s former European private equity arm, Bloomberg reported.

Middle East

Standard Chartered Private Bank appointed Anthony Rawlinson as head of private banking and office manager in Abu Dhabi. Mr Rawlinson joins from Merrill Lynch Banque Suisse in Dubai, where it is believed he was a vice president.

Peter Schaer, head of the UBS wealth management advisory office in Dubai, has resigned. He will be replaced by Juergen Wegner, who has been promoted to the role internally.

Barclays Wealth appointed Sahba Hadipour as the director of its International Private Banking team in the Middle East. Prior, he was director of private equity and wealth management at CIC Holding.

Conyers Dill & Pearman, the offshore law firm, appointed Craig Fulton as head of its recently-opened office in Mauritius. Mr Fulton will focus on generating business in the burgeoning markets of India and Southern Africa.

ANZ appointed Philip Chronican as chief executive officer for Australia, conferring upon him regional responsibility for the bank’s wealth management, commercial and retail businesses as from November.

International law firm White & Case added Charlie Wilson to the team of counsels for its Singapore office. Mr Wilson, previously from specialist finance group Linq Asia Capital in Indonesia, will work on restructuring, private equity, and mergers and acquisitions activities, including the structured finance duties he specialised in during the two years at Linq.

IOOF Holdings the Australia based provider of wealth management products and services, appointed new chief financial and chief investment officers.David Coulter, who was previously the company's head of management reporting, will become CFO. Mr Coulter has been acting in this role since IOOF merged with Australian Wealth Management in April this year.Meanwhile, Telstra Super CIO Steve Merlicek will be joining IOOF as CIO, with effect from 1 October. In this newly created role, he will oversee the firm's funds management unit, which covers IOOF's multi-manager products.

China Asset Management Corp hired Anthony Ho to become its new deputy chief executive. In his new role, Mr Ho will be tasked to help develop a new product that would complement ChinaAMC's international strategy. He replaces Cheng Haiyong, who has been elevated to head of international investments of the company's Hong Kong qualified domestic institutional investor business.

Swiss private bank Clariden Leu, part of Credit Suisse, appointed Kenneth Toong as chairman for Asia. The Asian business of Switzerland’s EFG International has appointed a new deputy chief executive and head of private banking, Hong Kong, Nigel Sze, joining from Citi Global Wealth Management.

Mr Sze supports Robert Chiu, executive chairman, and Albert Chiu, chief executive, the Zurich-listed firm said in a statement.

Saigon Asset Management, the Vietnam-based investment manager, filled a year-long empty position after naming Hoang Nguyen as its new chief investment officer.

DBS Group named Melvin Teo as its new China country manager, effective 1 January 2010. Mr Teo replaces Teresa Lin, who now is senior advisor for the Singapore-based bank's China unit and institutional banking business in the Greater China area. He retains his old position as private equity head.

BSI Bank Limited Singapore, part of the Lugano-based BSI banking business, appointed a former top executive at Coutts’ international business, Hanspeter Brunner, to head its operations in Asia from March next year.

Macquarie Private Bank appointed Robert Credaro, formerly from Macquarie's private equity division, as its new chief investment officer.

Premium China Funds Management, an Australian-based investment firm, appointed former Westpac executive, Pierre Leung, as Asia investment specialist for New South Wales. Mr Leung was previously Westpac national structured products manager. He had also worked with Westpac Institutional Bank and Macquarie Private Wealth.

Macquarie Private Wealth New Zealand appointed two new investment advisors, with Alistair Ross and Kristan Mines joining the team.

Both men join the firm from Goldman Sachs, a statement from the firm said. Ian Witters, meanwhile, assumes the role of head of Macquarie Private Wealth New Zealand.

Bank of the Philippine Islands Asset Management and Trust Group named Theresa Marcial Javier as its new group head.

Ms Javier was previously the deputy group head of the same company. She takes over from Adelbert Legasto, who retired last month but still serves as the bank's senior advisor and consultant. She is also to continue with her other role as the company's chief investment officer.

Aberdeen Asset Management added two new executives to its senior roster to assume the roles that Australia chief executive officer and head of fixed income Bill Bovington is leaving.

Brett Jollie, who has been with the fund manager for ten years, will become the new Australia head, while ex-Credit Suisse staffer Victor Rodriguez will take over the fixed income business. Mr Rodriguez will be overseeing a team of 11 fixed income experts handling around $17 billion worth of assets.

US-based asset management firm American Century Investments bolstered its new Hong Kong office with the appointments of Betty Ng and Miranda Poon to the team.

Ms Poon was previously the vice president of business development at Pictet's Asia ex Japan unit. In her new role as director of business development for the Asian sales team, she will be focusing on the Greater China region, which covers China, Hong Kong, and Taiwan.

Macquarie Group named veteran Asian banker Kalpana Desai as the new deputy head of Asia for Macquarie Capital Advisers.

BNP Paribas Wealth Management appointed Thierry Dana, the regional manager of Switzerland, Southern Europe and Latin America, as its new chief executive of BNP Paribas Wealth Management for Hong Kong and North Asia. Mr Dana will report directly toSerge Forti, chief executive of BNP Paribas Wealth Management Asia-Pacific, reports said.

Meanwhile, Claude Haberer, currently CEO of BNP Paribas Wealth Management Hong Kong and North Asia, has been appointed head of key clients, Asia.

Dutch-based ABN Amro Private Banking has appointed senior Asia executive, Hans Diederen, to lead its Asian office as chief executive. Mr Diederen is currently regional head of ABN Amro Private Banking North Asia.  

In his new role, Mr Diederen replaces Barend Janssens, the former CEO of ABN Amro Private Banking Asia. Mr Janssens will leave ABN Amro to pursue new opportunities.

HSBC hired Keith Chan as the new head of its Asian listed product unit in its bid to become Hong Kong's top issuer of callable bull-bear contracts and warrants.

Mr Chan, who was previously with Macquarie, reports to the bank's head of intermediaries for North Asia Gary Hung, although his division will be working under the wealth management sales team led by Ken Sue. He replaces Frank Wong, who early this year left the company to join Barclays Capital.

Jupiter Asset Management, the UK based fund manager catering to both private and institutional investors, named David Conway to assume the newly created role of Asia Pacific sales director.

Mr Conway was previously the local regional manager of Royal Skandia based in Singapore. In his new role he is responsible for building business links with life firms, private banks, and wealth managers in Hong Kong and Singapore.

Bank of America Merrill Lynch named Brian Brille as the new president of its Asia-Pacific operations. Mr Brille is currently the head of corporate and investment banking for the Americas and will be replacing Ki Myung Hong (Kim Hong), who is to become vice chairman for Asia-Pacific. According a statement, Mr Hong will be reporting to Mr Brille, although the bank said this does not equate to a demotion.

Chen Ee Fang joined Martin Currie Investment Management as its new business development director for Asia.

Mr Chen, who came from Vanguard Investments, will be based in the firm's new Singapore office. In his new role, he will be responsible for client servicing and business development in Asia.

Global private equity firm Advent International hired Shweta Jalan as director of Advent India PE Advisors Private Ltd.

Ms Jalan was previously the director at ICICI Venture in Mumbai.

Edinburgh-based Martin Currie Investment Management appointed Ee Fang Chen as Business development director, Asia.

Mr Chen joins the firm from Vanguard Investments, where his main responsibility was institutional business development in China, Taiwan and Hong Kong. Prior to this role, he worked for Watson Wyatt Worldwide.

Mr Chen will join Martin Currie on 28 October. Based in Singapore, he will be responsible for client service and business development in Asia, reporting to Kimon Kouryialas, regional head for Pan Asia.

Raj Sriram, head of private banking Singapore and global head of the South Asian business for RBS Coutts has resigned. He was hired by Australia's ANZ. The bank has also hired Hanspeter Brunner from RBS Coutts.

Paul Davies, previously international head of strategy and business development, will take over Mr Sriram's responsibilities in the interim.

Partha Roychoudhury was appointed as head of active advisors, North Asia, for Barclays Wealth. He will report to Des Byrne, head of capital markets and stockbrokers.

Mr Roychoudhury will oversee the team of active advisors in Hong Kong, joining from a similar role at RBS Coutts. He also worked at Dresdner Kleinwort, Citibank and Peregrine Securities.

The former general manager of Commonwealth Financial Planning, Tim Gunning, has been appointed chief executive of Ord Minnett, which is 70 per cent owned by Australian Wealth Management and 30 per cent by JP Morgan. He will be responsible for the Ord Minnett private wealth, portfolio services, funds management and corporate finance businesses, replacing Karl Morris who held the position of chief executive and managing director from October 2004. Mr Morris will take over as Ord Minnett executive chairman; the incumbent in that post, Russell Aboud, will continue to serve as a director on the firm's board.

Australian wealth management company Ord Minnett announced the appointment of Tim Gunning as its new chief executive officer.

Mercer (Australia) chief executive officer and Asia Pacific region head Peter Promnitz joined the Investment and Financial Services Association as director. Mr Promnitz takes over from Jeremy Duffield, who has left the IFSA to become The Vanguard Group's new managing director of international planning & development.

Barclays Wealth hired Partha Roychoudhury as head of active advisors for North Asia. Mr Roychoudhury was previously the head of Active Advisory Services, North Asia at RBS Coutts in Hong Kong. In his new role, he will oversee a Hong Kong based advisory team whose responsibilities include providing investment-focused advisory solutions and tactical trade ideas to the wealth management company's bankers and clients in Hong Kong.

MLC, the wealth management arm of National Australia Bank, appointed Suzanne McCouraig as the new head of platform sales.

Ms McCouraig was previously with Queensland superannuation fund QSuper and brings to her new role over 14 years of financial services experience. She will report to MLC general manager of sales Colin Wood.

Fubon Bank (Hong Kong) managing director and chief executive officer Jin-Yi Lee resigned citing early retirement.

Bajaj Financial Solutions, a subsidiary of Bajaj Finserv, appointed Arpit Agarwal as chief executive to spearhead its launch into advisory-led financial services in India. In his new role Mr Agarwal reports to Sanjiv Bajaj, the managing director of Bajaj Finserv, who oversees the financial services interests of the Bajaj Group, including Bajaj Allianz Life Insurance, Bajaj.

UK-listed Standard Chartered named TS Shankar as the new head of its transaction banking team for Southern Asia.

Mr Shankar was previously Bank of America's senior vice president in Singapore. In his new role, Mr Shankar will be covering the whole of Southern Asia.

Pacific Alliance Group, the Asian investment firm, has brought in four ex-senior executives at Deutsche Bank to add to its distressed asset investment team.

They are: ex-head of Asia distribution in distressed products Kanak Kapur; head of origination, structuring and special situations in distressed products Anshumann Woodhull; and Stuart Blieschke and Anil Gorthy, both from the distressed asset management unit in Hong Kong.

Venkatesh Rathnam was appointed global head of securities services at Standard Chartered. Mr Rathnam was previously the Asia Pacific regional head of operations at Citibank. He replaces David Gilmour, who is now head of investor and intermediaries sales for North Asia. In his new role, Mr Rathnam will oversee the global operations and service delivery for the bank's clearing, custody and funds administration business.

Citigroup chief executive officer for Southeast Asia-Pacific Piyush Gupta will be joining DBS Holdings as its new CEO in November.

Mr Gupta replaced the late Richard Stanley. Mr Gupta spearheaded branch expansions for Citigroup in various countries in the region.

Bank of America Merrill Lynch made five senior appointments to its Asia Pacific commodities team as part of its growth plans across key sectors in the region.

First among the hires is that of Peter Beaumont, who joins as managing director and head of metals and mining sales and origination for the Asia Pacific region. Based in Sydney, Mr Beaumont will report locally to Diego Parrilla, head of commodities Asia Pacific, and to Amrik Sandhu, global head of metals in London.

ATR KimEng Financial Corporation, a Philippines-based firm, hired Michael Ferrer to head its newly-established asset management business in the Philippines.

Mr Ferrer was previously a manager for ING Investment Management's Southeast Asia operations and will introduce investment products to the largely untapped $20 billion Philippine asset management industry.

Swiss-based Pictet Asset Management assembled of a three-man team to market funds of hedge funds to Asia and Australia.

The team, which includes Pictet's alternative products specialist Steve Huguenin-Virchaux, will be based in Geneva and initially target clients from Hong Kong and Australia. The unit will be working very closely with Amy Cho, the regional head of business development, Asia Pacific ex-Japan, Pictet Funds and Pictet Asset Management, who is based in Hong Kong.

Two Singapore-based private bankers catering to non-resident Indians, Shiladitya Choudhuri and Shailendra Kirtikar, have left HSBC with the former moving to Calyon, part of Credit Agricole. The destination of the other HSBC employee could not be confirmed.

Latin America

Royal Bank of Canada’s Brazilian arm is to take on at least eight client advisors by the end of 2009. The new offices in São Paulo and the southern city of Porto Alegre already have 20 employees. Key management players include Mr Lima, managing director Claudio Von Gal and investment head Victor Ziruolo. Mr Lima says he expects the team to expand to between 35 and 40 by the end of the year. All staff were recruited locally.

Barclays Wealth announced it is looking to hire 120 graduates as part of its 2010 private banking graduate programme, with positions covering more than 20 locations across Asia, the Middle East, Europe and the Americas.