People Moves
Summary Of Executive Moves In Global Wealth Management Industry - August 2014

While August is never the busiest of months for executive moves, there was enough action to keep the news pages busy, with a number of exclusives by this publication.
Europe
Standard Life Investments named Christopher Andersson as its
investment director for sales in Sweden, based in Stockholm,
reporting to Asa Norrie, co-head of European business and head of
Nordics. Its new office in Stockholm and Andersson’s hire follow
an increase in investor demand for Swedish absolute return
solutions, as well as the establishment of the firm's partnership
with Lansforsakringar as a fund distributor, which it intends to
develop. Selcuk Acar was appointed as business development
manager for international sales in Germany Austria.
Union Bancaire Privée appointed Peter Schimd from Julius Baer. He
joined as senior managing director and head of UBP’s Zurich
branch. He reports to Michel Longhini, UBP’s head of private
banking. Schmid was most recently a managing director at Julius
Baer.
UK investment house Kames Capital added to its European sales
team by hiring Edouard Giraud. He joined as a business
development consultant based in London, reporting to head of
continental European wholesale Richard Dixon, with particular
responsibility for developing Kames' presence in the Swiss
market. Giraud was previously at MSCI.
Jersey-based trust company Hawksford appointed Andrew Bennett as
its new finance director. Bennett was a replacement for the
outgoing finance director, David Skinner, who has left Hawksford
and Jersey for personal reasons. Bennett, with more than 23
years' experience, joined from Nordic Capital where he was
managing director for six years. Previously he was director at
Standard Bank Fund Administration, having earlier worked with
EY.
AXA Investment Managers appointed Christophe Coquema as global
head of client group, replacing Laurent Seyer who decided to
leave the firm. Coquema joined the firm in July 2006 as head of
strategy and innovation. From 2007 to 2010 he was global head of
shared operational functions of AXA IM, namely IT, change
management, operational support and service management,
procurement, and product engineering. In 2010, he was appointed
global head of markets and investment strategy. From December
2011 to February 2014 he served as global chief operating
officer.
Asia moves
Australia and New Zealand Banking Group added Ilana Atlas, a
prominent businesswoman, to its board. She is a director of
Coca-Cola Amatil, Westfield Corporation and Treasury Corporation
of New South Wales. She was formerly a director of Suncorp Group
and is chair of Bell Shakespeare Company.
Bravura Solutions promoted Terry McCann, previous head of IT,
hosting services to the role of chief information officer. The
role is a newly-created one. Prior to joining Bravura, McCann was
a director at DST Global Solutions.
Commonwealth Bank commenced a series of reshuffles to its
executive team following the resignation of group heads. Grahame
Peterson, group executive for business and private banking, was
set to retire at the end of 2014 after nearly 35 years with the
CBA group. Simon Blair stepped down from his role of group
executive, international financial services and also from his
position on the executive committee due to personal reasons. He
continues to represent the CBA group on boards in China, New
Zealand and the UK. Rob Jesudason, group executive, group
strategic development, was due to take over the role from Blair
in November 2014 having joined the CBA group in 2011.
The Royal Bank of Canada's Wealth Management division added a
managing director and co-head of brokerage and futures to its
Hong Kong office. Joel Goh assumed both roles and joined fellow
co-head David Ka. The pair report to Michael Yong-Haron, managing
director and head of RBC Wealth Management in North Asia. Goh's
role was created as part of "expanded leadership" for brokerage
and futures, a spokesperson told this publication. Goh moved from
Julius Baer, where he was latterly market manager for China.
Vivien Webb, formerly a managing director at Goldman Sachs,
joined Morgan Stanley’s wealth management arm in Hong Kong in a
senior management role.
It is understood the move was part of efforts by the US-listed
bank to build out its Asian wealth management operation. Further
details about Webb's exact business title and reporting
responsibility are unclear at this stage.
Manulife Asset Management, part of Canada-based Manulife,
appointed Peter Warnes to the newly-created position of head of
portfolio solutions group, international. Warnes is based in Hong
Kong. He previously worked for JP Morgan Asset Management.
Australia and New Zealand Banking Group appointed Ivy Au Yeung as
chief executive for Hong Kong, reporting to the CEO for
international banking, Farhan Faruqui. Ms Au Yeung had been
acting CEO Hong Kong since June 2014. Prior to her current
appointment, she led ANZ’s commercial business in Asia and the
Pacific, having joined ANZ in 2011 following a 20-year
international banking career with Standard Chartered.
Mumbai, India-based firm, Waterfield Advisors, appointed wealth
management figure Munish Randev as its chief investment officer
for its multi-family office business and Amit Shah as director,
corporate advisory services. Randev has more than 19 years of
experience in various functions of investment advisory, including
portfolio advisory, product management, broking and asset
management. Prior to joining Waterfield, he worked with Avendus
Wealth, Fidelity Funds group and ABN AMRO. Shah has more than 18
years of experience in investment banking and various related
financial services functions. He has worked across geographies
including Japan, Vietnam, Hong Kong, China and Singapore.
Eastspring Investments Japan - the asset management arm of
Prudential Corporation Asia - appointed Tsukasa Sekizaki as
president and chief executive officer. Sekizaki began his Tokyo
based role in mid-September, he joined from Deutsche Bank where
he was president and chief executive of Deutsche Trust Company
Limited and Deutsche Asset & Wealth Management. His appointment
followed the resignation of Koji Wada. He will report to Michele
Bang, Eastspring's Hong Kong-based deputy chief executive.
BNY Mellon appointed Douglas Hymas as country executive for Japan
and general manager of the company’s Tokyo branch. He replaced
Thom Fisher who left BNY Mellon earlier this year; Fisher has
subsequently relocated to London. Hymas is the chief strategist,
leader and senior representative for the company’s business
groups with regulators and clients. He reports to Gregory Roath,
Asia-Pacific head of global client management. Hymas has 20 years
of experience in the investment management and investment
services industry. He was most recently president and chief
executive officer of ING Mutual Funds Investment Company (Japan),
having previously held senior management roles at Wells Fargo
Securities (Japan), Legg Mason Asset Management Japan, Barclays
Global Investors and Lehman Brothers.
Terence Bong, the head of the international private bank sales
team in Asia at Schroders, left the company. Bong was replaced by
Albert Tse, head of intermediary distribution for South East
Asia.
Three appointments were made at investment firm KKR in its
Singapore office to help grow its Indonesian offering: Jaka
Prasetya, Rahul Bhargava and Allan So. Prasetya joined as
managing director and will take charge of KKR’s Indonesian
efforts, in conjunction with the firm’s private equity, credit
and special situations team. He also took responsibility for the
firm’s credit and special situations initiative for Southeast
Asia. Bhargava and So joined as directors and support Prasetya in
his running of KKR’s Southeast Asian credit business. The trio
moved from Leafgreen Capital Partners, which Prasetya founded and
previously served as its managing director. Bhargava and So held
the roles of managing directors and partners.
Former Bank of Japan governor, Masaaki Shirakawa, was been
appointed as a distinguished visiting fellow at the National
University of Singapore Business School from 25 August 2014 to 10
September 2014.
Union Bancaire Privée named the head of its new regional
multi-family office platform in Singapore. It appointed Joerg
Hansen, formerly of DBS Private Bank. Other hires at the unit
included Cheryl Ng, who also previously worked at DBS, and Ong
lu-Jin, who is head of the multi-family office. Among previous
roles, Hansen covered ultra high net worth individuals at Bank of
Singapore. Prior to joining that bank in 2012, he worked for
Credit Suisse and Julius Baer.
David Chong, chairman of Portcullis group of companies, been
re-elected as president of the Singapore Trustees Association.
His term of office in the role is two years. Chong is the founder
of the Portcullis group of firms.
Global specialist law firm Dechert opened a new office in
Singapore as part of its expansion in Asia. Dean Collins serves
as the office managing partner. Collins focuses his practice on
private equity, real estate, venture capital and hedge funds in
Asia.
Neo Teng Hwee joined the private banking arm of
Singapore-headquartered United Overseas Bank as chief investment
officer. Other roles included that of research associate at
EDHEC-Risk Institute; managing director, senior advisor at Julius
Baer; deputy chief investment officer at ING and senior portfolio
manager at Candriam and portfolio manager at Nikko Asset
Management.
BNP Paribas saw a number of changes. Kimmis Pun joined the French
bank as managing director and team head, responsible for building
the China business for BNP Paribas in Singapore. She reports to
Alfred Tsai, who is global market manager, China). She was
formerly an executive director for UBS Wealth Management, where
she focused on China. She joined the UBS in 2007 as a senior
private banker. Prior to this, she worked for eight years as the
market leader for Singapore and China for HSBC Private Bank. Ken
Wong, a senior private banker in Singapore, stepped down; he
worked in the key client group, focusing on ultra high net worth
markets and is a BNP Paribas veteran. It also appointed Paul Yang
as regional head for Greater China, as well as head of country
for China. The responsibilities are in addition to his roles of
head of country for Hong Kong and CEO of BNP Paribas’ Hong Kong
Branch. Based in Hong Kong, Yang reports to Eric Raynaud, chief
executive officer of BNP Paribas Asia Pacific.
North America
Threshold Group, a family-owned wealth management firm and family
office, enhanced its investment and client service capabilities
with three senior hires. Teresa Wells was appointed as director
of investment strategy in Seattle, WA, where she will lead
research activities on the West Coast while working alongside
chief investment officer Ron Albahary and Mark deVries,
Threshold's director of manager research. Most recently, Wells
was an investment strategist at Laird Norton Wealth
Management.
Meanwhile, Ryan Campbell joined Threshold as an investment
analyst in Philadelphia, PA, to assist with the research,
selection and monitoring of investment managers. Campbell has
seven years of investment research and management experience,
having previously worked at Convergent Wealth Advisors and
Goldman Sachs in private wealth management, fixed income sales
and investment analysis.
On the client service side, Threshold brought in Nicholas Hickly
as an associate director in Seattle office to work with the
firm's wealth advisors. He will manage the set-up and maintenance
of clients' investment accounts and assist with tax and estate
planning. Hickly was latterly a private wealth manager at United
Capital, having also worked as a financial advisor at Chase
Wealth Management, Merrill Lynch and Edward Jones.
Raymond James recruited senior vice president of investments
Robert Clayson in Wellesley Hills, MA.
Clayson joined from Wells Fargo, where he managed about $115
million in client assets and had annual fees and commissions of
about $800,000. Joining Clayson at Raymond James is Carolyne
Wabuyele, senior registered client service associate.
Clayson, a 43-year industry veteran, worked at Bear Stearns,
Morgan Stanley and Wells Fargo Advisors before joining Raymond
James.
Financial advisors Travis Barr and Marco Cisneros joined Wells
Fargo Advisors in Seal Beach, CA, from Merrill Lynch.
At Merrill, they managed more than $227 million in combined
assets and have over 20 years of industry experience. Financial
consultant Mallory Brady also joined them from Merrill.
Deutsche Asset & Wealth Management appointed Chuck Fiedler
as head of strategy and business development - a new role for the
firm’s liquid real assets platform that is part of its
alternatives and real assets business.
Fiedler will be based in Chicago, IL, and report to John
Robertson, global head of liquid real assets.
Fiedler will oversee existing liquid real asset products and
strategies as well as develop new ones on a global basis.
DeAWM’s liquid real assets platform comprises listed real estate,
listed infrastructure and commodities strategies totaling nearly
$30 billion in assets under management, as of June 30, 2014.
Andy Waldbaum was appointed to head up Raymond James &
Associates’ Beverly Hills, CA, branch, where the firm also
brought in The Handler Investment Consulting Group.
Waldbaum assumed the title of resident branch manager and senior
vice president of investments. He was previously vice president
of business strategy and initiative manager at Merrill Lynch
Wealth Management, as well as complex business development
officer and senior vice president at Morgan Stanley Smith
Barney.
As for the team, Gary Handler, senior vice president of
investments and senior institutional consultant at Raymond James
Institutional Consulting, has over 25 years of industry
experience. Other members of the Handler team include Mariejoy
Cabel, senior registered sales associate, and Amber Wilder, sales
associate.
Bank of America’s US Trust made a raft of hires across six US
states from firms including Citi Wealth Management and
BlackRock.
Gina Lammey joined the Hartford, CT, office as a senior trust
officer, having most recently served as an associate attorney at
Scott B Franklin & Associates.
Alexander Olson stepped into the Boston, MA, office as a private
client advisor. He was most recently a registered representative
at New York Life Insurance Company.
Abraham Radmanesh joined the Kansas City, MO, office also as a
private client advisor. He was formerly a senior vice president
and western regional sales manager in the brokerage services
group at Commerce Bank.
Additionally, Louis Cuomo – latterly a financial advisor at Citi
Wealth Management - was appointed in Glen Rock, NJ, as a private
client advisor.
Meanwhile, Morgan Stickler joined the Florham Park, NJ, office as
a senior vice president and portfolio manager. He was previously
a portfolio manager at BlackRock.
Also in NJ, Michael Whittemore joined the Pennington branch as a
portfolio oversight manager. He was most recently a senior
portfolio manager at Prestige Wealth Management Group.
In Oregon, Ronald Chaidez was hired in Portland as a private
client manager, having previously worked at his own
privately-held CPA firm, Stefani Chaidez.
Lastly, William Cohen joined the Charlottesville, VA, office as a
private client advisor. He was most recently an executive
director at JP Morgan.
Atlanta, GA-based, SEC-registered Advocacy Wealth Management
named Justin Boller – latterly of Invesco - as chief investment
officer.
At Invesco, Boller was a portfolio manager on the firm's global
equity investment team. He has 14 years of experience in the
investment management industry overall.
It is unclear if the CIO role is newly-created or if Boller
replaced anyone.
The TCW Group, a global asset management firm, appointed Jeffrey
Engelsman as global chief compliance officer, based in Los
Angeles, CA.
It is unclear whether this is a newly-created role or if
Engelsman replaced anyone.
As CCO, Engelsman will be responsible for the development,
oversight and assessment of the firm’s policies and procedures to
ensure compliance with government and industry regulations across
all jurisdictions in which TCW operates.
He joined from New York Life Investment Management, where he was
most recently a managing director and CCO for some 70 open-end
and closed-end funds. Prior to New York Life, he served as senior
counsel to Deutsche Asset Management, overseeing mutual fund
governance, offshore fund governance and 1940 Act regulatory
matters.
In his new role at TCW, Engelsman will report jointly to David
Lippman, president and chief executive, and Meredith Jackson,
executive vice president and general counsel.
US Bank appointed Dean Scheinert as a wealth management
consultant and Christopher Wilkinson as vice president and wealth
management consultant at its high net worth unit in Phoenix and
Scottsdale, AZ, respectively.
Scheinert joined the PCR from JP Morgan Chase Private Bank in
Scottsdale, where he was an executive director responsible for
client development and relationship management for ultra high net
worth clients.
Wilkinson has over 30 years of experience in investment
management, private banking, risk mitigation, estate planning and
administration for high net worth families, business owners and
private foundations. He was previously executive vice president
and chief investment officer at Finemark National Bank & Trust in
Scottsdale.
Wells Fargo Advisors recruited financial advisors Alison Scavone
and William Bates in Westport, CT, from Morgan Stanley.
At Morgan Stanley, they managed more than $348 million in
combined assets and brought over 40 years of industry experience
to WFA. Senior registered client associate Summer Gigliotti and
client associate Jennifer Blair joined them.
Raymond James appointed advisors James Switzer and Eric Cobb to
Raymond James Financial Services, the firm’s independent
broker-dealer, in Spartanburg, SC.
The team operates as Switzer Cobb Wealth Partners, an independent
firm, with securities offered through RJFS.
The team joined Raymond James from Morgan Stanley, where they
managed over $180 million in client assets and had annual fees
and commissions in excess of $1.3 million.
Switzer, managing director at Switzer Cobb Wealth Partners and
Raymond James branch manager, began his financial services career
at Merrill Lynch in 1990, later moving to Morgan Stanley in
2008.
Cobb, vice president with Switzer Cobb and a Raymond James
financial advisor, also began his career with Merrill Lynch in
1996 and moved with Switzer to Morgan Stanley in 2008 to open the
firm’s first Spartanburg office.
Kathy Coley, a registered planning associate and office manager,
also joined the team. She spent 28 years with Merrill Lynch in
Charleston and Spartanburg and joined the Switzer Cobb team at
Morgan Stanley almost six years ago, where she was a portfolio
associate.
Fund-of-funds manager Northern Trust Alternatives Group made two
senior hires.
Tristan Thomas joined as director of portfolio strategy for hedge
funds while Greg Jones was hired as an analyst.
As director of portfolio strategy, Thomas is responsible for
portfolio construction and the monitoring of funds-of-funds and
custom programs. He is a member of the team’s senior investment
committee and joined from Mesirow Financial in Chicago, IL.
Jones meanwhile will look after the sourcing, due diligence and
monitoring of macro, relative value, and commodity strategies
across Northern Trust’s hedge fund program and joined from
Cliffwater.
United Capital Financial Advisers appointed Ryan Marcus –
latterly of RBC Advisor Services - as director of new
partnerships, based in New York.
At RBC Marcus was senior vice president of business development
for the RBC RIA custody unit. Prior to that, he spent three years
at MarketCounsel, the business and regulatory compliance
consulting firm, where he was senior vice president of national
sales.
In addition to his stint at RBC Advisor Services and
MarketCounsel, Marcus was a consultant for RIA in a Box, as well
as an advisor at Oppenheimer and Morgan Stanley.
Marcus will report directly to Matt Brinker, senior vice
president of partner development and acquisitions.
He will be responsible for executing on United Capital’s
acquisitions strategy and proprietary RIA business evaluations
methodology.
ACE Group boosted its high net worth personal lines
insurance business, ACE Private Risk Services, with three senior
appointments.
Annmarie Camp was named as senior vice president of national
sales and distribution leader; Shannon Detroit as vice president
for the central region; and Heather Cabra as vice president for
the southern region.
Based in Basking Ridge, NJ, Camp will oversee the US distribution
of ACE Private Risk Services’ products and services, including
home, auto, watercraft, valuable collections and umbrella
liability insurance through a network of independent agents and
brokers.
She will also continue in her role as group umbrella practice
leader and report to Mary Boyd, division president of ACE Private
Risk Services. Camp joined ACE Private Risk Services in 2009 as
regional vice president for the Northeast.
Meanwhile, Detroit and Cabra will oversee the local field
marketing, underwriting, claims, risk consulting and agency
services teams in ACE Private Risk Services’ central and southern
regions, respectively. They will both report directly to
Camp.
Detroit joined ACE Private Risk Services in 2010 as territory
manager for Washington and Oregon, while Cabra joined from a
global personal lines carrier, where she spent over 20 years in
senior regional management and distribution leadership roles.
Mark Caplinger took over from William Greiner as chief investment
officer of Mariner Wealth Advisors, as Greiner became chief
investment strategist of Mariner Holdings.
Greiner will drive the economic and capital markets outlook for
both Mariner Wealth Advisors and Montage Investments, Mariner
Holdings' asset management subsidiary. He will also continue to
support Mariner Wealth Advisors with tactical asset allocation
decisions.
Meanwhile, with nearly three decades of industry experience,
Caplinger specializes in developing recommendations on investment
policy, portfolio design and implementation, and the execution of
investment programs using traditional and alternative investment
strategies.
He will lead Mariner Wealth Advisors' investment committee and
will manage the firm's strategic and tactical asset allocation
policies, procedures and application. He joined the firm from
Summit Strategies Group in St Louis, MO, where he was a senior
vice president in the firm's consulting department.
RBC Global Asset Management, the asset management arm of Royal
Bank of Canada, appointed Clive Brown as chief executive and
managing director of RBC GAM International as part of the firm’s
global growth plans.
In this newly-created role, Brown will be responsible for RBC
GAM’s business in Europe, the Middle East, Africa and the
Asia-Pacific region, excluding BlueBay Asset Management.
He will be based in RBC GAM’s London office and will report to
John Montalbano, chief executive of RBC GAM, effective October
1.
Brown has over 30 years of experience in the financial services
industry. He was previously at JP Morgan Asset Management, where
he spent 21 years working in a number of roles - most recently as
global chief operating officer and chairman of Asia, based in
Hong Kong. Before this, he was chief executive of JP Morgan Asset
Management International. He began his career in 1982 at Price
Waterhouse, where he qualified as a chartered accountant.
US Capital Advisors added to its ranks with the addition of
Stuart Huckin as a managing director from Credit Suisse
Securities, where he was a private banking relationship manager
since 2010.
Prior to Credit Suisse, Huckin was a financial analyst at a
family office in Dallas, TX, office from 2003 to 2007. He works
with ultra high net worth clients and family offices, advising
them on investment strategies. He serves clients mainly as a
fee-based advisor incorporating advanced portfolio management
construction techniques, but also offers customized portfolio
strategies with an emphasis on lower market volatility and high
quality, dividend-paying companies.
Additionally, USCA recruited John Howle in Dallas as a managing
director.
Howle was latterly a senior vice president of investments at
Truth Capital Advisors of Raymond James and Associates. He has
almost 30 years of experience as a financial advisor,
institutional fixed income salesman and municipal bond trader
with such firms as Barre & Co, Southwest Securities, May
Financial Corporation and Raymond James.
Advisor Software, a provider of web-based wealth management
solutions for financial advisors, appointed Charles Brown as vice
president of business development.
Based on the East Coast, Brown will build client relationships
with broker-dealers, registered investment advisors, multi-family
offices, banks and other financial institutions. He will also
help Advisor Software organize additional educational webinars -
open to all financial services professionals.
The firm's tools include, but are not limited to: the ASI Client
Acquisition Solution®, a portfolio construction and proposal
generation program; ASI Portfolio Rebalancing Solution®, the
rebalancing application that can scale to “thousands of advisors
through a single platform”; and goalgamiPro, a process for
profiling clients and generating modular one-page, client-focused
reports in less than 10 minutes.
Brown joined from Windham Capital Management, where he was vice
president of sales and new business development for three years.
Earlier in his career, he was senior manager of the performance
reporting solutions group at Informa Investment Solutions.
California- and Florida-based Camden Capital appointed Kara
Boccella as managing director and Devon Galindo as a client
relations associate.
Boccella has 25 years of experience advising legal professionals,
business owners, entrepreneurs and high net worth families on
wealth management, legacy planning and family office matters.
She joined from KLS Professional Advisors Group, a subsidiary of
Boston Private Financial Holdings and multi-billion dollar
registered investment advisory firm headquartered in New York
City. She worked at the firm for 19 years - most recently as
managing director and member of the investment committee.
Boccella believes the majority of wealth management firms do not
focus on providing investment and planning advice tailored to
high net worth legal professionals - a niche Camden has
intensified its focus on.
Thomas Montag is to become the sole chief operating officer at
Bank of America as co-COO David Darnell assumes a new role so he
can move to Florida.
Darnell will serve as vice chairman while continuing to oversee
global wealth and investment management, as well as business
banking.
Montag has split the COO role with Darnell since 2011 and going
forward will still run the investment banking and capital markets
businesses.
Before his COO responsibilities, Montag was president of global
banking and markets at BoA Merrill Lynch, having previously
worked at Goldman Sachs for 22 years.
Northern Trust Asset Management made a number of senior hires in
recognition of growing demand for outsourced chief investment
officer services.
Patrick Groenendijk, a CIO in multi-manager solutions, joined
Northern Trust from Pensioenfonds Vervoer in the Netherlands,
where he was responsible for managing the transport industry
pension fund with $19 billion in assets.
James Hayes, formerly of Allstate Investments, and Tracey Nykiel,
formerly with consultant R V Kuhns & Associates, also joined as
client investment officers.
Meanwhile, Nazneen Kanga, formerly of Morgan Creek Capital
Management, joined as a solutions strategist focused on
foundations, endowments and global family offices.
Lastly at Northern Trust Asset Management, Kurt Zemaier, who was
most recently with investment consultant Hewitt EnnisKnupp,
joined as a pension risk strategist.
Christine Galloway, president and chief executive of Okabena
Company, the Minneapolis, MN-based wealth management firm for
families and non-profits, is to retire at the end of the
year.
James Field, former president and CEO of The Northern Trust
Company’s Minneapolis office, was named president of Okabena
Company.
Upon Galloway’s retirement, the company will have two leaders:
Field as president and Douglas Neimann, current president and
chief investment officer of Okabena Investment Services. Neimann
manages the investment program for taxable and tax-exempt
clients, while Field will oversee office financial services.
Galloway, who has been at the firm for 21 years, confirmed to
Family Wealth Report that the CEO role is not being
maintained.
“The responsibilities of the CEO are being assumed by the
president of Okabena and the president and CIO of Okabena
Investment Services. in a dual leadership role,” she said.
Nashville, TN-based Truxton Corporation, a bank holding company
and parent of Truxton Trust Company, appointed Brad Dunlavy as
senior vice president and wealth advisor team leader.
Dunlavy joined Truxton from KraftCPAs, having previously held
wealth advisory and tax roles at Regions Bank and SunTrust.
Portfolio manager Dawn Bitton joined BNY Mellon Wealth
Management’s Denver, CO, office, as the firm continues its
strategic push into the Denver-Rocky Mountain region.
Bitton – latterly of ANB Bank Investment Management and Trust -
replaced trust officer Michael Love, who retired from BNY Mellon
last year. Before ANB, Bitton was a wealth strategist officer at
Northern Trust.
In her new post at BNY Mellon she reports to Rocky Mountain
regional president, Tracy McCarthy.
Shane Hiller re-joined Citi Private Bank as a director and
private banker in San Francisco, CA, as the US-listed firm
continues to grow in The Golden State.
Hiller has over 20 years of experience working in the industry
and returned to Citi from Umpqua Bank’s private bank division,
where he was market leader for the San Francisco region.
Prior to joining Umpqua, Hiller spent three years as a private
banker at Citi in San Francisco, having previously been a senior
vice president and financial advisor at Morgan Stanley Private
Wealth Management. Earlier still, he spent some years as a
private client advisor at Wells Fargo Private Bank.
In his new role at Citi, Hiller reports to Lisa Roberts, head of
Citi Private Bank in Northern California.
Ben Pace, former chief investment officer at Deutsche Bank Asset
& Wealth Management's multi-asset group, and eight members of
DeAWM's portfolio consulting group, joined HPM Partners in New
York.
HPM Partners is a New York-headquartered independent investment
and financial services advisory firm with additional offices in
Chicago, IL; Cleveland, OH; Bloomfield Hills, MI; Los Angeles,
CA; and Orange County, CA.
In addition to Pace, David Jumper, Steve Kurosko, Lindsey Nadel
and Larry Weissman joined as partners of the firm with investment
associates Neza Bevc, Jessica Farrell, Patrick Murray and Quinn
Portfolio.
The Private Client Reserve of US Bank appointed Timothy Langbein
as a senior private banker in New York.
The PCR serves clients with at least $1 million in investable
assets.
Langbein joined from JP Moran Private Bank, where he was a vice
president serving in wealth management roles including capital
advisor and banker. His previous experience also includes
financial planning, investment advisory and investment bank
accounting.
At the PCR, he specializes in personal and business lending, and
deposit needs.
Philadelphia, PA-headquartered Janney Montgomery Scott, the
full-service wealth management, financial services and investment
banking firm, hired Michael Lynfield in Fairfield, CT, as first
vice president - investments.
Lynfield was joined by Mike Kozik, an account executive, to form
the Lynfield Kozik Investment Group.
Lynfield has over 30 years of experience in the financial
markets, working with institutions including hedge funds and
banks in the US and Europe. He is latterly of Wells Fargo, where
he was a senior vice president for 28 years.
Kozik, meanwhile, has almost ten years of financial services
experience and joined Janney from Wells Fargo Advisors.
Financial advisor Barry Stern joined Raymond James Financial
Services, Raymond James’ independent broker-dealer, in Westlake
Village, CA.
Stern is formerly of UBS Financial Services, where he managed
more than $107 million in client assets and had annual fees and
commissions of about $1.1 million. Kathleen Loretto, client
relationship manager, also joined him. The team operates as Ocean
West Wealth Strategies, an independent firm.
Stern owned his own small business for four years before joining
Merrill Lynch in 1983. He also worked at Prudential-Bache, Dean
Witter/Morgan Stanley and UBS before joining Raymond James.
Loretto joined Raymond James and Stern’s team in 2014, bringing
more than 20 years of experience working with brokers and
custodians as an investment analyst, portfolio administrator and
operations assistant.
Through Raymond James, the team provides services including
financial, retirement, college and estate planning; 401(k)
advising; insurance and annuities; and asset allocation.
CTPartners, the New York-listed global executive search firm,
appointed Kevin McKeon as a principal within its financial
services practice, focused on asset management, wealth and
alternative investment.
McKeon, who is based in Boston, MA, has over 15 years of
professional search experience recruiting senior leadership
professionals into chief investment officer, heads of asset
classes, portfolio management and research roles.
Prior to joining CTPartners, he spent nine years within the asset
management practices of Heidrick & Struggles and Sheffield
Haworth. He also spent six years at Pyramis Global Advisors
acting as the chief of staff for the investment division and
overseeing recruiting for the division.
Cultivation Capital, the St Louis, MO-based early stage venture
capital firm, invested in Wealth Access, the high net worth
personal financial management platform for advisors.
Cultivation Capital can now offer Wealth Access' fund reporting
service to its limited partner investors, who will also receive
tax documents such as K-1s electronically.
“The availability of K-1s through Wealth Access will dramatically
speed up tax preparation for private equity investors, and limit
the frustration of tracking down tax documents, a notoriously
frustrating experience for investors in private equity,”
Cultivation Capital said.
Meanwhile, Wealth Access will add Cultivation Capital general
partner, Rick Holton – who has experience working at Merrill
Lynch - to its board of directors.
Deutsche Asset & Wealth Management hired Carolyn Patton as a
managing director and head of consultant relations for the
Americas – a new role at the firm.
Based in New York, Patton will report to Mark Bolton, global head
of consultant relations. Regionally, she will report to J J
Wilczewski, the newly-appointed co-head of the global client
group, Americas, who is responsible for serving institutional
investors.
Patton has over 20 years of experience, having most recently
served as an executive managing director and principal at Turner
Investments, an employee-owned investment manager based in
Pennsylvania.
From 2005 to 2011 she worked at Janus Capital Group as global
head of consultant relations, having previously worked at Morgan
Stanley Investment Management in the Americas and Europe.
Patton, who in her new role will form relationships with
investment consultants in the Americas, was the latest strategic
senior hire by DeAWM as it pushes to enhance outreach to
institutional investors, expand its institutional product
offerings and continue to build its overall market share in the
Americas.
BlackRock, the world’s largest listed asset manager, appointed a
senior Canadian finance ministry figure and Canadian central bank
governor, Jean Boivin, to the role of deputy chief investment
strategist of The BlackRock Investment Institute, effective
September 15.
Boivin previously held the role of associate deputy director
finance minister and G20, G7 and financial stability board deputy
for Canada for the last two years. Prior to his most recent
position he was the deputy governor of the Bank of Canada.
The BII is a global platform of BlackRock designed to make use of
its expertise across asset classes, client groups and regions.
The institute produces information that is designed to boost
performance of BlackRock’s portfolio managers.
Bovin will be based in BlackRock’s London office.
Eric Grodan – latterly senior vice president of trust and estate
at Merrill Lynch – joined Abbot Downing in Los Angeles, CA, as a
relationship manager.
Grodan spent seven years at Merrill Lynch, providing investment
advice and wealth transfer strategies for some of the firm’s
wealthiest clients. Prior to Merrill Lynch, he was director of
gift planning for the California Community Foundation.
As well as working with Abbot Downing professionals in Los
Angeles, Grodan will also work with the western region team that
provides planning and family dynamics services, asset management,
private banking, trust, fiduciary and administrative
services.
Toronto-based CIBC Asset Management appointed resource manager
Scott Vali as vice president of equities and portfolio
manager.
CIBC said he will be lead manager for the CIBC Precious Metals
Fund; the CIBC Canadian Resources Fund; the CIBC Energy Fund; and
the Renaissance Global Resource Fund - all of which the firm
acquired portfolio management responsibility for.
Lawrence Smith, vice president of equity research and mining
specialist, will co-manage the CIBC Precious Metals Fund while
Brian See, vice president of equity research and energy
specialist, co-manages the CIBC Energy Fund.
Prior to joining CIBC, Vali was a vice president and portfolio
manager at CI Investments. He has over 13 years of portfolio
management experience, including a decade as a lead manager of
major resource investment mandates.
Chicago, IL-headquartered HighTower opened a fourth office in
Florida office with HighTower Fort Myers, the 44th team to join
the HighTower Partnership.
The Fort Myers team – which works with high net worth individuals
and families - is made up of Pamela Lynn Abraham, Jack Thomas and
Trevor Swartz, who all join HighTower as partners.
Abraham previously spent 33 years at Merrill Lynch, where she led
Pamela Lynn Abraham & Associates, while Thomas and Swartz led
Merrill Lynch’s Thomas & Swartz Global Wealth Management.
The partners brought three colleagues: director and senior wealth
management advisor Mathew Verrengia; senior registered associate
Benita Alstatt; and client services associate Tiffany
Likness.
Aviva Investors made three hires in Chicago, IL, and
another in Toronto.
In Chicago, Kevin Mathews was appointed as a high yield portfolio
manager. He joined from Scottish Widows Investment Partnership in
New York where he was head of US high yield. Before that, he
worked at F&C Investments in London as head of global high
yield. Additionally, he was a high yield portfolio manager at:
Gulf International Bank in London; ING Investments in Arizona;
and Van Kampen Investments in Chicago.
Also in Chicago, Lei Wang was hired as a senior securities
analyst, joining from Morgan Stanley where she was a senior
credit analyst. She has over 14 years of credit research
experience, Aviva Investors said, having previously worked at
Paulson & Co, Deutsche Bank and JP Morgan Asset Management.
Additionally, Allen Xiao was brought in as director of business
risk in Chicago. Allen is latterly of Ashland Partners and
Company, where he was a senior compliance analyst and manager
with roles in accounting, auditing, compliance and risk.
Lastly, in Toronto, Robert Prospero joined as a credit analyst
from Manulife Asset Management, where he was most recently a
senior investment analyst.
BNY Mellon appointed Michael Gordon to head up its newly-created
retirement and strategic solutions group.
Kim Mustin, BNY Mellon Investment Management's head of North
American distribution, said the firm is looking to add
non-traditional investment solutions to its current retirement
offerings.
Most recently, Gordon was managing director of non-traditional
solutions and special situations for BNY Mellon Investment
Management. In that role, he led - and will continue to lead -
the Home Equity Retirement Solutions business, which plans to
purchase, securitize and service reverse mortgages and provide
advisory services to brokers, financial advisors and asset
managers on how reverse mortgages fit into retirement
planning.
RBC Wealth Management appointed Roger Rath as a senior vice
president and financial advisor in Annapolis, MD.
Rath joined RBC Wealth Management from Janney Montgomery Scott,
with 34 years of industry experience. He has more than $245
million in assets under management and $1.1 million in
production.
Rath specializes in retirement planning, wealth management
planning, asset allocation and portfolio management.
Maryland-headquartered New England Investment and Retirement
Group appointed Les Satlow as senior portfolio manager and
director of research.
Also a member of the investment committee, Satlow is responsible
for the administration and oversight of the firm’s investment
strategy, process and policies – a role in which he will work
with both advisors and the client service team.
Satlow was previously a portfolio manager at Meredian Wealth
Management as well as Cabot Money Management, having worked as an
associated portfolio manager at Boston Advisors before that.
Deloitte Touche Tohmatsu, or Deloitte Global, the global tax,
auditing, consultancy and financial advisory firm, appointed Cary
Stier as the new leader of its cross-functional investment
management group.
Stier is also a vice chairman and partner with Deloitte in the
US. He succeeded Stuart Opp, who died in April. Patrick Henry
will succeed Stier as the leader of the Deloitte US investment
management practice.
“During Cary’s six-year tenure as the US firm practice lead, the
investment management sector has been one of the fastest-growing
practices within the US firm, expanding to now include four
distinct client practice areas in the mutual funds, hedge funds,
private equity and private wealth spaces,” said Chris Harvey,
Deloitte's global leader of the financial services group.
Stier will lead Deloitte investment management practices’
footprint globally and drive global strategy for Deloitte
services in markets including Europe, Middle East and Africa, the
Americas and Asia-Pacific. He will also continue to work with
Jennifer Qin, who leads the investment management sector in
Deloitte China’s Asia-Pacific region as part of the GFSI group in
Deloitte China.
Qin is the audit partner-in-charge for many private equity,
venture capital funds and asset management clients in China.
Prior to joining the Beijing office in 2008, she had 11 years of
audit experience at investment banks and broker-dealers in
Deloitte’s New York and London offices.
In addition to his new leadership position, Stier will also keep
his client focused role with the US member firm.
Johnson Bank, part of the Johnson Financial Group, appointed
Kevin Tan as chief investment officer – a new role at the
firm.
Tan will report to Daniel Kaminski, executive vice president of
wealth for Johnson Financial Group. He joined from The Northern
Trust Company and has over 26 years of experience in the
financial services arena.
“Wealth management is a growing and strategically important
business line for Johnson Bank, we have recognized that the size
of our wealth business and the investment needs of our client
base necessitates we have a strong investment leader,” said
Thomas Bolger, president and chief executive, Johnson Financial
Group.
RMB Capital, an independent advisory firm, promoted two of its
senior wealth managers, Sue Christoph and Paul Joyaux, to
partner-level within RMB Wealth Management.
In 1999, Joyaux began working with RMB’s co-founders at a Fortune
500 investment firm before they left to start RMB in 2005. Joyaux
and his current team of six are responsible for around 270
clients.
Christoph, meanwhile, joined RMB in 2007, after running the asset
management division at a public company and managing assets for
large institutional investors.
Christoph’s six-person team manages approximately 200 clients,
who are primarily based in the Midwest.
Jennifer Openshaw, a well-known leader in wealth management,
women’s investing and consumer advocacy, was appointed as an
executive director at the New York-based Financial Women’s
Association.
Openshaw is the second person to serve as executive director for
the organization since it was founded in 1956. She succeeded
Nancy Sellar, who served for nearly 30 years.
Openshaw’s financial industry experience includes serving as
press secretary in the California State Treasurer’s Office and in
senior roles at Bank of America, Wilshire Associates and BankOne,
where she was senior vice president of corporate marketing.
She is best known, the FWA said, as the founder and chief
executive of Women’s Financial Network, a financial services
company created for women, which was later acquired by Wall
Street legend Muriel Siebert.
Openshaw most recently served as president of Finect, a social
networking platform for wealth advisors and other financial
professionals.
US Bank appointed Patrick Woolfe as a portfolio manager at the
firm’s Private Client Reserve in Chicago, IL.
Woolfe will develop and implement investment portfolios for high
net worth individuals and institutions.
He has over 17 years of financial services experience in the
areas of investment management, sales and relationship
management. Most recently, he was a vice president and senior
investments advisor at PNC Financial Services Group.
Chris O’Neil and Joe Jaensen left Morgan Stanley to join the
downtown Denver, CO, office of Wells Fargo Advisors.
The team, known as The Denver Group of Wells Fargo Advisors,
includes O’Neil as managing director - investments; Jaensen as
senior vice president - investments; and Terri Lo Sasso as senior
client associate.
The trio previously worked at Morgan Stanley, where O’Neil
practiced for over 30 years, Jaensen for 20 years and Lo Sasso
for 25 years. O’Neil and Jaensen managed a combined $300 million
in client assets.
City National Bank, the private and business bank, expanded its
Silicon Valley, CA, team, hiring two senior private bankers and a
senior portfolio manager.
Andre Luu joined as a senior vice president to lead private
banking colleagues in San Jose and Palo Alto, CA, while Edwin
Aquino joined in San Jose as senior vice president of private
banking.
Additionally, the bank also brought in Scott Mlinarich in San
Jose as a senior portfolio manager for City National Rochdale,
the firm's wealth management affiliate.
Luu was latterly managing director within the private banking
division at Union Bank, having previously been a senior private
banker at Wells Fargo. He also has prior experience at global
financial institutions in Singapore and Hong Kong, City National
said.
Meanwhile, Aquino previously served high net worth clients at
Union Bank and before that held leadership and relationship
management roles at financial institutions including First Bank,
East West Bank and Wells Fargo.
Mlinarich most recently worked at HighMark Capital Management as
a senior portfolio manager in San Jose and prior to that spent 11
years at Wells Capital Management as a managing director in San
Francisco, CA.
City National entered the San Francisco Bay Area in 2000 and now
has 12 offices in the region. In Silicon Valley, the firm has
three branches – two in San Jose, and another in downtown Palo
Alto, which houses its technology and venture capital group.
Snowden Lane Partners, an independent, advisor-owned wealth
advisory firm, appointed Robert Bowman, formerly managing
director at Merrill Lynch in Philadelphia, as partner and
managing director.
Snowden Capital Advisors recently rebranded itself as Snowden
Lane Partners in a drive to communicate its “partnership
culture.”
Bowman joined as a member of the senior executive leadership team
and operating committee, focused on business development efforts
nationally.
Bowman spent 31 years at Merrill Lynch, starting out as a
financial advisor and moving on to become regional director of
the Mid-Atlantic Region (overseeing 1,000 financial advisors and
more than $100 billion in client assets), as well as national
sales manager.
Besides running numerous office complexes throughout the
Mid-Atlantic region at Merrill, he was chairperson of the
directors’ advisory council to management; sat on the firm’s
product development committee; and coordinated the non-resident
client segment for US wealth management.
BNY Mellon Wealth Management promoted Patrick Crowe to national
director of investment analytics, advice and solutions.
Crowe will be based in New York, reporting to chief investment
officer Leo Grohowski.
He is responsible for delivering investment and advice analytics,
helping the firm’s regional sales and portfolio officers develop
and manage client wealth plans.
Prior to this new role, Crowe was managing director for the New
York Tri-State region of the wealth management group. A long-time
BNY Mellon employee, he has also held other leadership
capacities, including head of investment research and head of
personal asset management.
Chicago, IL-headquartered Ziegler, the investment bank and
broker-dealer, hired Robert Moats as senior managing
director and head of the firm’s wealth management business.
He replaced Chris Zelesnick, who the firm said left three months
ago.
Moats, who became a member of Ziegler’s executive committee, has
30 years of industry experience working at Morgan Stanley
(latterly as complex manager) and predecessor firms. He started
his career at Shearson Lehman Brothers as a financial advisor in
1986 in Omaha, NE, ascending to a complex manager role in 2009
with Morgan Stanley in Chicago.
Of note, the firm recently said it is ramping up its wealth
management business, having made a number of hires in recent
weeks and months across the US.
Michigan-based Arbor Trust Wealth Advisors, comprised of four
individuals from United Bank & Trust, joined Dynasty Financial
Partners' platform of integrated wealth management services and
technology.
Financial advisors Charles Waterhouse, James Winslow, Carol
Sewell and Gary Haapala collectively advise on over $350 million
in client assets.
Arbor Trust gained access to Dynasty's investment and technology
platform, which leverages Dynasty’s investment committee and
internal investment operations team. Dynasty’s RIA middle-office
"Core Services" platform will provide turnkey marketing, CRM,
financial planning, proposal support, and client reporting.
Charles Schwab will provide primary clearing and custody
services.
Waterhouse, a partner and senior financial advisor, is the former
chief executive of Guaranty Federal Savings Bank and chief
financial officer of Arcadia Bank & Trust. Other past roles he
has held include vice president and senior financial advisor at
United Bank & Trust and vice president of the employee benefits
trust office at Huntington Bank. At Arbor he heads up the firm’s
investment committee and specializes in investment management,
investment strategies and solutions development.
Winslow, a partner and senior FA, leads Arbor’s financial
planning efforts, with a focus on client management, financial
planning, investment strategies and investment management. He is
also a member of the firm’s investment committee. Winslow began
his career at First of America Bank and has held other client
management and wealth management posts at BR Chamberlain & Sons,
Key Bank/McDonald Investments and United Bank & Trust, where he
was a senior FA.
Sewell, also a partner and senior FA, specializes in estate
planning and estate tax law, and chairs Arbor’s fiduciary
committee. Her seven years as an attorney at the law firm Koley
Jessen were followed by six years as a senior vice president of
trust administration at United Bank & Trust.
Lastly, Haapala, a managing partner and senior FA, manages the
operations of the firm and also provides strategic planning and
wealth management advice. He too serves on the investment
committee and the fiduciary committee. Haapala was previously
president of wealth management at United Bank & Trust; region
manager and vice president of the private client group at Fifth
Third Bank; and group manager and first vice president of
institutional trust at Comerica Bank.
UK-based investment firm Invesco Perpetual hired Danielle Singer
to its multi-asset team in New York.
Singer joined as a senior client portfolio manager, representing
the global targeted returns strategy across the distribution
channels in the Americas. Singer was previously a strategist and
director of the global investment solutions team at UBS.
Dave McKay joined Royal Bank of Canada’s board of directors as he
becomes president and chief executive of the firm. McKay
succeeded Gordon Nixon, who has retired from the board.
Prior to being appointed as president on February 26, 2014, McKay
was group head of the personal and commercial banking segment of
RBC, which comprises RBC's personal banking operations and
certain retail investment businesses in Canada, the Caribbean and
the US, as well as RBC's commercial banking operations in Canada
and the Caribbean. McKay's 26-year career at RBC includes senior
roles in retail banking, risk management and international
experience in corporate banking.
Wilmington Trust hired Diane McNeal as senior private banker to
oversee private banking services in Florida, based in Palm
Beach.
McNeal and her team provide lending, deposit, and cash management
services, as well as other financial solutions to affluent
individuals and families, and professional practices.
She has over 35 years of experience in the financial services
industry, having most recently been the alternate group manager
for Florida private banking at Comerica Wealth Management.
US Bank promoted Mindy McLaughlin to senior vice president and
senior portfolio manager at its high net worth Private Client
Reserve unit in Cincinnati.
McLaughlin manages investment portfolios for HNW individuals,
families, foundations and endowments, as well as providing asset
allocation strategies and financial planning.
McLaughlin has 25 years of experience in the investment and
financial industry, including nine years at the PCR. Before that,
she worked at Johnson Investment Counsel and Fifth Third
Bank.
Pennsylvania-based Bryn Mawr Bank Corporation named Harry Madeira
as executive vice president and head of the wealth management
division.
Madeira replaces Francis Leto who was appointed as president and
chief operating officer of the bank and corporation on May 1.
Bryn Mawr Bank Corp previously said that on January 1, 2015, Leto
will succeed Ted Peters as chief executive, following his
retirement on December 31, 2014.
Before joining Bryn Mawr Trust, Madeira was senior vice president
of Brown Brothers Harriman & Co, responsible for managing client
relationships and new business development. He also developed
significant wealth management business for the investment units
of the firm.
Sheffield Haworth, the global executive search firm focused on
the financial services sector, opened its fourth US office in San
Francisco, CA, to serve clients on the West Coast.
Paige Scott, who joined Sheffield Haworth in 2009 and is head of
the North American asset management practice, will return to the
West Coast to head the effort there while continuing to serve
other clients across the US.
Last November, Sheffield Haworth intensified its focus on the
wealth management sector in the Americas with the addition of
Jane Swan as managing director. Swan joined Sujan Melwani who
transferred from Sheffield Haworth's Hong Kong practice to New
York earlier in the year.
Meanwhile, in January 2013 the firm acquired international wealth
management recruitment firm Gibson Tullberg, a decade-old
business with offices in London, Geneva and Singapore. Tim
Sheffield, chief executive of Sheffield Haworth, said at the time
that the deal was a critical step in expanding the firm's private
wealth coverage.
Financial advisors Matthew Rogers and Mark Norton joined Raymond
James & Associates, the traditional employee broker-dealer of
Raymond James, in Portland, ME.
The Rogers Norton Wealth Management Group joined from UBS
Financial Services in Portland, where they managed more than $200
million in client assets and had annual fees and commissions of
about $1.9 million.
Rogers began his career in 1991 at Fidelity Brokerage Services
before becoming a financial advisor at Prudential Securities in
New York. He joined UBS Financial Services in 1996, working as a
senior vice president and senior portfolio manager in
Portland.
Norton, vice president of investments, began his 12-year
financial services career as a quality analyst for J&W
Seligman in 2002. He joined UBS Financial Services in 2006, where
he worked as a branch analyst, vice president and portfolio
manager in Portland.
Adele Jacques, a senior registered sales associate, also joined
the team, which specializes in managing family endowments and
developing multi-generational financial plans.
Focus Financial Partners, the US international partnership of
independent wealth management firms, appointed Dan Sontag, a
former long-time president of Merrill Lynch’s global wealth
management unit, to Focus’ board of directors.
The addition of Sontag brought the total number of Focus
directors to seven; of those, six are independent and
unaffiliated with Focus.
Sontag’s most recent role at Merrill Lynch was head of global
wealth management, overseeing all investment platforms,
technology and operations support for the nearly 20,000 advisors
in Merrill’s wealth management offices, private bank and
international wealth businesses. Sontag joined Merrill Lynch in
1978 as an advisor in Colorado Springs.
Pioneer Investments, the global asset management firm,
named Lisa Jones as president and chief executive of Pioneer
Investment Management USA, the firm’s US division.
Jones will be a member of Pioneer’s global leadership team and
will report to Sandro Pierri, CEO of Pioneer Investments.
The departure of Jones, who replaced Daniel Kingsbury, followed a
15-year career at Pioneer, the last seven of which he spent as
head of the US.
Jones joined Pioneer Investments from Morgan Stanley Investment
Management, where she was global head of distribution and
president of MSIM Distribution, a position she left in 2013.
Prior to MSIM, she was head of the global institutional division
at Eaton Vance Management and spent more than 16 years at MFS
Investment Management, holding leadership roles in the retail and
institutional divisions.
Pioneer’s US division has approximately $72 billion in assets
under management and 560 employees including 79 investment
professionals and a sales and marketing team of over 150.
The board of New York-and Canada-listed CIBC selected its
group head of wealth management, Victor Dodig, as the bank's next
president and chief executive, effective September 15, 2014.
Dodig, also senior executive vice president at CIBC, will replace
Gerry McCaughey, who is retiring on September 15 this year.
As group head of wealth management, Dodig is responsible for CIBC
Wood Gundy, CIBC Investor's Edge, CIBC Private Wealth Management,
Atlantic Trust and CIBC Asset Management, which includes CIBC's
mutual fund company and investment management activities in
Canada and the US.
Dodig began his career working in CIBC's branch system as a
customer service representative, later rising through increasing
levels of responsibility at CIBC to lead the bank's retail
banking distribution and sales team from 2007 to 2011.
Prior to re-joining CIBC, Dodig was managing director and CEO in
Canada for UBS Global Asset Management. Earlier in his career, he
spent five years as managing director in Canada, the US and the
UK for Merrill Lynch and Company, following three years as a
management consultant at McKinsey and Company.
UK
Coutts appointed Miles Le Cornu as head of private client trust
services to its Coutts Trustees division in Jersey. Le Cornu,
previously of BNP Paribas where he served as head of the firm’s
Jersey wealth management business, will also join the Coutts
Trustees (Jersey) board.
London-based Heptagon Capital appointed Christian Diebitsch as a
European equities fund manager in a newly-created role. Diebitsch
joined from London-based Seilern Investment Management, where he
managed the Stryx Europa Fund.
Santander Asset Management UK appointed Divya Manek as a new fund
manager to its global European fixed income team. Divya joined
Santander after spending seven years at Schroders, latterly as
head of European and UK credit strategies. Based in London, she
reports to Adam Cordery, head of European fixed income.
Deutsche Bank Private Wealth Management London head Juliet
Wedderburn left the bank for a second time, while Arnaud de
Servigny, head of the multi-asset group and wealth management
chief investment officer at Deutsche Bank PWM, also left the
firm. Asoka Wöhrmann, the recently-promoted chief investment
officer, is expected to take on de Servigny’s duties. The firm is
currently seeking a replacement for Wedderburn.
Equiniti, which provides services such as share registration,
appointed Huw Thompson to the newly-created position of business
development director for the firm’s wealth management arm.
Thompson is responsible for delivering growth and leading client
engagement with both new and existing clients. Prior to joining
Equiniti, he worked for TD Wealth Institutional as business
development manager where he helped to increase the corporate
client base. He has over ten years' experience in the
industry.
Head of investments at Rothschild Wealth Management & Trust Dirk
Wiedmann left the firm to pursue other interests. Wiedmann has
been at the blue-blooded firm since 2008.
Butterfield Private Bank, the UK subsidiary of Bermuda-based
Butterfield Group, appointed Matthew Parden as managing director,
replacing Raymond Sykes, who has retired. The bank also added
Trevor Gander and Douglas Paterson as independent directors,
effective 18 November.
Hargreave Hale appointed Ben McKeown to its investment management
team in its London office. McKeown previously worked at Killik &
Co, where he was employed as a private client manager responsible
for high net worth clients, charities and trusts.
Witan Investment Trust appointed Hannah Philp as its new director
of marketing. Philp will join the team at Witan later in the year
from Edison Group. She replaces James Frost who left Witan
earlier this year to join BlackRock’s investment trust marketing
team.
London-headquartered asset and wealth manager Schroders appointed
Stephen Hunnisett as credit analyst for Europe, Middle East and
Africa. Hunnisett previously worked at BlackRock where he was
head of European financials fundamental credit research.
Wealth manager AFH Financial Group added former Man Group sales
head Mark Chambers to its board. Chambers previously spent 19
years at Man Group between 1994 and 2013, reaching head of global
banking sales.
Thesis Asset Management appointed Paul Hastings to the
newly-created position of business development manager, covering
the South West region. Hastings reports to Lawrence Cook,
director of market and business development, and is responsible
for developing advisor and other intermediary relationships
across the South West.
Walker Crips appointed Bill Newton and Andrew Powell as
stockbrokers. Newton joined from Barclays, where he was vice
president of the advisory stockbroking team, specialising in
developed market equity portfolios to high net worth private
clients. Powell also joined from Barclays, where he was a
stockbroker focusing on UK and US short-term equity trade
ideas.
Deutsche Asset and Wealth Management appointed Nitesh Mistry as a
director, to oversee and focus on developing the firm's
infrastructure debt investment business in Europe. Based in
London, Mistry reports to Jorge Rodriguez, head of infrastructure
debt, and is responsible for originating, structuring and
managing infrastructure debt opportunities in the region, as well
as further expanding the infrastructure debt platform.
Baring Asset Management appointed Ken Lamden as chief investment
officer, taking over from Marino Valensise, who will take on the
role of head of multi-asset group following Percival Stanion’s
decision to resign to take up an external opportunity. Further
resignations included Andrew Cole and Shaniel Ramjee. Barings
appointed Sonja Laud as multi-asset income investment manager.
She is based in London and reports to Valensise. She joined the
firm from Schroders where she was a fund manager with
responsibility for five global equity funds that focused on
income.
Letitia Smith stepped down from her role as chief risk officer at
UK-headquartered Kleinwort Benson. The bank is examining options
to replace her roles internally. Arun Lad in Smith’s team is
taking over as head of legal and compliance on an interim
basis.
Kath Dodson joined Exeter-based financial planner Prydis Wealth
from Cavendish Online as a financial planner. She is working
alongside director James Priday on developing the Strawberry
Invest direct-to-consumer investment platform.
US-headquartered investment house Neuberger Berman appointed
Gillian Tiltman as a European portfolio manager in its global
real estate securities division. Tiltman is based in London and
reports to Steve Shigekawa, senior portfolio manager and head of
the Neuberger Berman Global Real Estate Securities Group.
Responsibilities include constructing and managing assets
invested in Europe.
Westminster Wealth Management appointed Andy Wilgoss to its
in-house broking team as part of the firm’s wider growth plans.
Wilgoss is responsible for the firm’s mortgage delivery and
expanding the number of brokers. He joined from Capital Private
Finance, where he has been a mortgage broker since 2011. Before
this, he was managing director at mortgage brokerage Square Mile
Mortgage Finance.
London-listed Henderson Global Investors appointed John Harrison
to the newly-created role of multi-asset director, in a bid to
expand its existing business and geographical
footprint.
Harrison is responsible for representing the multi-asset team in
the retail and institutional channels. He joined Henderson from
AllenbridgeEpic, where he served as a senior advisor to four
local government pension schemes.
Succession Advisory Services appointed Richard Goodall as a
non-executive director. Goodall will work alongside platform
services and investment director, Simon Taylor.
Mark Idriss resigned from the Zurich-listed UBS to pursue other
opportunities. Idriss held the role of head of global emerging
markets in London for wealth management.
Nick Perryman, currently head of IPS (investment products and
services) in London, is managing GEM London on an interim basis;
longer-term options for leadership of the group are being
considered.