This is the latest monthly roundup of moves within the global wealth management industry during March, with a number of firms, such as Barclays Wealth, making large and significant hires.
Signia Wealth appointed Laurent Jeanmart as a director and Andrew Larsen as associate director. Jeanmart, who oversees development of Signia’s hedge fund and third-party fund capabilities, joined from GLG Partners, where he worked as an investment director, portfolio manager and senior analyst in its hedge funds division. Before joining Signia, Larson worked at Coutts & Co as a portfolio manager, managing investment portfolios for UHNW individuals.
Sigma Investment Management hired William Manuel to its business development team as an associate director. Manuel most recently worked at Punter Southall, the financial advisory and employee benefits firm.
Syndicate Asset Management promoted Christopher Jeffreys - the chief executive of its Savoy wealth management business - to its newly-created group executive committee as director of asset management.
Mayfair Capital Investment Management appointed Stephen Musgrave as its new chairman. Musgrave takes over from David Larkin, who is retiring from the role after a three-year stint with Mayfair. Musgrave held a number of top-level roles in the commercial property world. Most recently he acted as managing director of Hines UK.
The chief investment officer of the UK-based investment boutique T Bailey, Jason Britton, stepped down after over a decade at the firm. Britton first joined T Bailey in 1999.
Brewin Dolphin appointed Ruth Murphy as head of charity business development, effective this summer. Murphy was most recently a director of investment management and charities business development, responsible for the marketing and business development for a fund management group.
RSM Tenon Financial Management hired three senior staff in England and Scotland.
Max Marchini joined as regional manager to lead the group’s advisory teams in Reading, Swindon and Bristol. Marchini was latterly at Bank of Scotland Investment Services. Paul Drage joined the Swindon office as a senior consultant from UK wealth manager Towry. David MacFarlane, also from Towry, will carry out a similar role to Drage but be based in Edinburgh. MacFarlane previously worked in wealth management for the HNW and with third-party introducers.
RSM Tenon Financial Management also hired Matthew Ennion. He moved from Berry Asset Management, where he was a senior research analyst. He reports to Adrian Gough, head of investment management. The firm also hired Jed Turnbull to expand its governance, risk and assurance capabilities into new markets. Turnbull joined the advisory services team as an associate. He was previously the chief operating officer for the national internal audit and risk practice at KPMG.
His Excellency Dr Umayya Salah Toukan, the former Governor of the Central Bank of Jordan, took up the role of non-executive director on the board of London-based Europe Arab Bank. Dr Toukan first became governor of the Central Bank of Jordan at the start of 2001, going on to serve two five-years terms before stepping down from the post at the start of this year.
Paradigm Partners, the independent IFA support services business, named Matt King as an appointed representative to its advisor network, Paradigm Financial Advisers. King is principal of London-based wealth managers, The Investment Partnership.
Close Asset Management appointed Steve Hewitt as business development director for the Midlands. In his new role Hewitt is charged with developing partnerships with intermediaries and supporting IFAs based in the Midlands – a region for which the firm has significant further expansion plans. Hewitt latterly spent 12 years with Standard Life.
Deutsche Bank named Salah Jaidah as vice chairman for the Middle East and North Africa region. He was also named chief country officer in Qatar, replacing Mounir Husseini, who held the CCO position from 2007 and who left Deutsche Bank to pursue other opportunities. Jaidah was latterly Qatar Islamic Bank’s chief executive, a position he had held since 2005. Before this role Jaidah was general manager of Doha Bank.
Deutsche Bank Private Wealth Management appointed Suzanne Spink as head of global investment solutions in the UK. Spink came from HSBC Private Bank, where she was head of the investment advisory group. She also worked for JP Morgan Private Bank in both London and New York, responsible for actively trading clients.
M&G Investments, the UK-based investment manager, added James Tomlins to its retail fixed income investment team, focusing on European credit. Tomlins joined M&G from Cazenove Capital Management, where he was a deputy fund manager.
Eden Group appointed Lucy Edwards as client manager. Edwards joined from SC Davies Investment Management and Private Banking, where she was responsible for sourcing and developing private client business. Prior to this, she was a research assistant at the asset manager Sloane Robinson. In her new role Edwards reports to Ed Rosengarten.
Stonehage Group, the Jersey-headquartered multi-family office, appointed Sir John Craven as a senior advisor to the group. Sir John is a former chairman and chief executive of Morgan Grenfell, and was also a member of the bank of managing directors of Deutsche Bank.
ACPI, an independent London-based asset management firm, strengthened its senior emerging markets team with Karan Singh Chadha as head of specialist credit. Chadha joined from Aladdin Capital, where he was a senior portfolio manager responsible for the firm’s credit products. He also worked at Washington Square Investment Management, Oaktree Capital and JP Morgan.
Andrew Popper, the chief investment officer at Société Générale Private Banking Hambros, left the firm, which is part of the Paris-based banking group Société Générale. Among his various roles, Popper served as an economist with the Federal Reserve Bank of New York and was a foreign exchange manager and treasurer with several US and international banks.
New York-headquartered Halcyon Asset Management appointed Rollo Wigan as managing principal in its London office, a role in which he will oversee client relations in Europe, the Middle East, and Australia. Wigan joined from MKP Capital Management, where he wasy managing director of marketing and client development, having first joined the firm in early 2002.
C Hoare & Co named Annamaria Koerling as its new head of investment management. Koerling was appointed head of portfolio management at the bank last year and these responsibilities will pass over to James Hoare, who joined as head of risk within the investment management arm also in 2010. Before joining C Hoare & Co, Koerling headed the international portfolio management team at Merrill Lynch between 2007 and 2010.
Schroders strengthened its liability driven investment and UK strategic solutions teams with four new senior appointments: Mike Hodgson, latterly at RBS, as head of structuring; Kathleen Broekhof from HSBC Global Asset Management for the role of LDI solutions manager; Dianne Ramsay, most recently at Financial Strategy Group, as part of the UK strategic solutions team; and Alistair Jones as a strategic solutions specialist from Aon Hewitt. Schroders added to its multi-asset business with Rob Hall as head of manager selection. Hall joined from Russell Investments, where he was latterly director of European equity portfolio management and head of Russell’s UK and European equity portfolio management team.
Alpha Real Capital, the international real estate funds manager, appointed former Close Investments and Tritax director Anthony Wyld as marketing director of Alpha Real Property Investment Advisers - a newly-created role in which he will report to managing director Nigel Ashfield. Wyld joined from Tritax, where he was head of marketing. Prior to this, he was marketing director at Close Investments and, from 1999, managing director of Close Property Investment.
Cheviot Asset Management appointed former Deutsche advisor Mark Ewer to lead the firm’s efforts to build up partnerships with IFA firms ahead of the regulator’s Retail Distribution Review.
Lloyds Banking Group appointed Philip Grant, managing director of UK private banking, as chair of the group’s Scottish executive committee, succeeding Archie Kane, who retired. Grant also held roles at the Bank of Scotland and is currently president of the Chartered Institute of Bankers in Scotland. Grant reports to António Horta-Osório, the group chief executive at Lloyds.
Merrill Lynch Wealth Management recruited Jeremy Brown from UBS to head up its investment solutions unit across the Europe, Middle East and Africa region. Brown will oversee the development, delivery and after sales support for the products and services offered by firm’s advisors across EMEA, reporting to Mark Curtis, head of international investment solutions, and David Jervis, head of Merrill Lynch Wealth Management EMEA.
Barclays Wealth appointed Tony Marsh in London. Marsh joined from Full Circle Asset Management, where he was associate director responsible for financial planning and business development. Prior to this, he worked as a trader for 17 years at two Japanese investment banks. Meanwhile, Barclays Wealth hired Ian Walker as a private banker for its Birmingham office. Walker, who has over 20 years’ experience in financial services, previously worked at SG Hambros, where he was a senior private banker. In Scotland, the firm appointed Laura Fox McMenamin to the newly-created position of head of business development and Mark McCue as a director. Fox McMenamin was latterly in a similar role at RBS.
Barclays Wealth added three people to its Leeds office: Vickie Griffin and Richard Wood joined as private bankers, while Alasdair Livingstone has taken up the role of financial planner. Griffin was latterly with the accountancy and advisory firm RSM Tenon; Wood transferred from Barclays Wealth’s Manchester office, where he was a portfolio manager on the discretionary fund management team; and Alasdair Livingstone was formerly a financial planner with Towry.
Barclays Wealth named Mark Shay as business development manager for the North of England region, a newly-created role. Shay joined Barclays Wealth from Metro Bank.
ACPI, the London-based wealth management and asset management firm, hired Alia Yousuf as an executive director and portfolio manager for the ACPI Emerging Markets Fixed Income UCITS Fund. Yousuf joined ACPI from Standard Chartered Bank’s asset management arm Standard Asset Management where she ran its Emerging Market Fixed Income Fund.
The law firm Dickinson Dees, which is based in Newcastle, added to its regional wealth management capabilities by hiring Rowena Rogers to its private client team in Yorkshire. Rogers had worked at Dickinson Dees from Harrowells solicitors in York, where she spent time in the commercial property team before joining the private client side of the business.
HSBC Global Asset Management named a new head of wholesale for the Europe, Middle East and Africa region. Andy Clark took on the newly-created role, aiming to increase the asset manager’s presence in the region. Clark was latterly managing director, wholesale for UK and Middle East and North Africa, a position to which he was appointed when he joined the firm in March 2007.
Williams de Broë appointed Jonathan Marsh as an investment director based in London. Marsh joined from BNP Paribas Wealth Management, where he was an investment director and a member of the Paris-listed firm’s management committee.
UK-based alternative asset manager Man Group bolstered its US team with three new hires: Todd Kata, focusing on hedge fund research; Jeremie Ho Hio Hen and Michael Callahan. Kata was managing director at Calypso Capital; he will be based in New York and report to Robin Lowe, head of equities. Ho Hio Hen was a rates and foreign exchange trader at JP Morgan. He reports to Art Holly, portfolio management head for North America. Callahan became part of the North American sales team with a focus on US institutional and family offices. Callahan, who used to be a vice president at Blackstone Group, reports to Raffaele Costa, the head of North America and Europe sales.
US insurance and financial services firm MetLife appointed Chris Smart to the newly-created role of sales development director as part of moves to expand the range of products it offers through IFAs and other intermediaries in the UK and Europe. Smart was himself formerly an IFA and founded Momenta b2b, an IFA distribution and training consultancy, in 1997.
City Asset Management appointed Chris Green as a financial wealth planner. In this newly-created position, he reports to Andrew Grier, chief executive of financial planning. Green joined from Optimal Wealth Management, where he was a senior financial advisor.
Legal & General named Mark Zinkula as the new chief executive of Legal & General Investment Management. Zinkula was CEO of Legal & General Investment Management America since 2008. Zinkula’s appointment was subject to FSA approval; he reports to Tim Breedon, the group’s CEO.
AXA Investment Managers named Matt Christensen as head of responsible investment, an appointment which forms part of the firm’s “RI Inside” programme.
Christensen has nine years of experience in the field of responsible investment working as executive director of Eurosif, the responsible investment think tank.
First State Investments UK appointed Nonie Zaremba as an investment specialist focusing on the financial sector within its 10-strong global equities team. Zaremba joined First State from SAC Capital, where she was a senior investment analyst specialising in financial stocks.
The London-based wealth manager Berry Asset Management hired Malcolm Cuthbert from brokers Killik & Co, where he was director of sales and chairman of financial planning. Cuthbert joined Berry in April as a director of wealth management to work alongside Richard Fellows, also appointed to the same role. They report to Jamie MacLeod, appointed chief executive last year.
Nucleus, the UK wrap platform business, appointed its third regional director, bringing in Martin Clement from Zurich Intermediary Group to cover the southwest and Midlands regions of the UK. While at Zurich Intermediary Group Clement was national e-commerce specialist,
Mark Pannes left his role as head of the global sports group at HSBC Private Bank, and returned to the US to work for the hedge fund firm Raptor Capital Management. He joined HSBC in 2006.
Withers added a partner to its family law team, hiring Suzanne Kingston from rival firm Dawsons. Kingston specialises in resolving complex financial matters for high net worth individuals, particularly financial matters related to matrimony and cohabitation. At Dawsons she was a partner and head of the family law team. Withers also built out its tax team with the appointment of Kristin Konschnik as international partner in London. Konschnik, who was latterly a senior associate with Curtis, Mallet-Prevost, Colt and Mosle, spent four years training at and working for Withers in New Haven and London earlier in her career.
Credit Suisse named Christoph Walker as managing director of its trust business in Guernsey and Jason Clark as head of advisory and sales for Russia, Eastern Europe, Greece and Central Asia. Walker was latterly based in Switzerland as director of institutional clients at Valiant Private Bank. Clark was brought in from RBS Wealth Management, where he was global head of product.
Henderson Global Investors named Ben Pakenham as lead fund manager on its £151 million ($245 million) Henderson Extra Monthly Income fund in addition to his role as co-manager of two of the firm’s other funds. Pakenham currently co-manages the Henderson High Yield Monthly Income and Fixed Interest Monthly Income funds with James Gledhill. In his new capacity Pakenham reports to John Pattullo, head of retail fixed income.
Crossbridge Capital named Manish Singh as director and head of investment services. In his new role Singh will oversee the firm’s investment services arm.. He reports to Tarek Khlat, the firm’s chief executive. Singh was most recently investment director at Société Generale Private Banking Hambros Bank.
Ogier, the international law and fiduciary services firm, boosted its business and trust law team in Guernsey with three lawyers. Airy Cleere joined the firm from Mason Hayes & Curran, an Irish law firm which specialises in corporate and financial law.
Richard Bennett latterly worked at the Financial Services Authority, where he was responsible for supervising a major banking group; prior to this he completed his training at Lovells. Tim Stewart, meanwhile, previously worked at the New Zealand-based law firm Russell McVeagh.
Scottish Widows Investment Partnership made three hires to its international equities team, which covers Europe, the US, Japan, Global and socially responsible investment (SRI) funds. Stephen Corr joined SWIP from BlackRock where he was director and portfolio manager for EAFE/ACWI from 2001. James Kinghorn joined SWIP from the Scottish Investment Trust, where, from 2002, he was senior investment manager for North and Latin American equities. Craig Bonthron joined SWIP from Kleinwort Benson Investors, where he was portfolio manager for the global water fund and worked on a number of other environmental vehicles.
Eden Financial hired Ed Rosengarten - the former chief executive of equities at M&G - as its new head of asset management. Rosengarten spent close to two decades at M&G, holding the roles of institutional director and business head, and then chief operating officer of M&G Investment Management, before taking over leadership of the equities business in 2001.
Clydesdale and Yorkshire Banks, both part of the National Australia Bank group, appointed Scott Butterworth as chief financial officer, succeeding Iain Smith who retired at the end of February. Butterworth joined for a handover period on 1 February from the NAB group's parent firm, where he was CFO for the business services division in Melbourne.
Merrill Lynch Wealth Management appointed Kelvin Ho as market manager for Hong Kong. Ho was previously a portfolio counselor for the company's North Asia business, supporting private wealth managers in managed product sales and asset allocation advice. Prior to Merrill Lynch, he was a director of sales and marketing for alternative investment products for Deutsche Bank, where he worked with high net worth clients in the Asia-Pacific.
Clariden Leu appointed Varun Chugh, Ravi Ramakrishnan, Sanith Jayaprakash, Gaurav Shah and Saumil Jayant Sheth as head of the Indian subcontinent and NRI Asia, senior relationship manager, relationship manager, account manager and investment advisor respectively.
All five join from HSBC Private Bank. Chugh, who has also worked for ABN AMRO's private banking operations in India, reports globally to Niels Zilkens, the global head of Indian subcontinent and NRI based in Zurich and locally to Yee Chin Lit, the Southeast Asia head.
Mukesh Ambani was appointed to the Bank of America Corporation board of directors. Ambani is the chairman and managing director of Reliance Industries.
State Street Global Advisors named Olivia Engel as its new head of Australian equities. Engel, most recently a senior portfolio manager at GMO Australia, took over from Anthony Golowenko, who will move to the newly-created role of senior product engineer.
AMP made four changes to its management. Darryl Mackay, latterly at AXA, was appointed to the AMP senior management team as company secretary and head of secretariat. He reports to AMP general counsel Brian Salter. Geoff Roberts, latterly AXA's chief financial officer, is to join the board of AMP Life and National Mutual Life Assurance as a non-executive director. Mike Thornton was named director of group risk management. He was latterly group chief actuary and chief risk officer for AXA. He reports to AMP CFO Paul Leaming. Meanwhile, Arun Abey, group strategy and chairman of IPAC, will continue in his latter role but will step down from the former in group strategy.
Harbour Asset Management appointed Jody Kaye as a director and COO. He joined the firm from First NZ Capital Investment Management in 2010. Craig Stent, who previously served as vice president, was appointed to director and research analyst. He most recently worked as an assistant research analyst for AllianceBernstein in New Zealand.
Oyvinn Rimer was hired as a research analyst. He latterly served as an assistant research analyst for AllianceBernstein in New Zealand.
NAB Private Wealth hired Michael Parsons and Anna McCreery as general manager in New South Wales and Australian Capital Terrritory and head of private clients respectively. Parsons was formerly the Australian private banking head at Deutsche Bank while McCreery was latterly at Credit Suisse and prior to this ran the Australia and New Zealand division of UBS Wealth Management.
Equity Trustees named Philip Galagher as head of its private client wealth management unit. Galagher joined the company's marketing division in late 2010 and has also worked as an economist in the economics and research department of the Reserve Bank of Australia.
Barclays Wealth appointed 12 directors for its private banking business in Singapore and Hong Kong. In Singapore: Benjamin Yeo, from Bank of Singapore, appointed director, head of research, economics and strategy, Asia; Eddie Tan, latterly at JP Morgan Private Bank, appointed director, private banker, Singapore/Malaysia team; Lim Ming How, from Credit Suisse Private Bank, appointed director, private banker, Singapore/Malaysia team; Kirk Tan, from Citi Private Bank, appointed director, Credit Structuring; Amrit Uppal, from Credit Suisse UK, appointed director, private banker, South Asia team; Nakul Beri from Barclays Wealth in India, appointed director, private banker, South Asia team; Sara Mi, from HSBC Private Bank, appointed director, Active Advisory, Southeast Asia; Michelle Le Herissier, from Cititrust, appointed director, head of Barclays Wealth Trustees (Singapore) Limited; Mustafa Mahmood, from Goldman Sachs in Singapore, appointed director, private banker, South Asia Team.
In Hong Kong: Barbara Yenson, from RBS Coutts, appointed director, private banker, Hong Kong team; Sonia Lee, from Natixis Asia, appointed director, active advisory, North Asia; Joanna Ho, from HSBC Private Bank, appointed director, head of wealth advisory, North Asia.
Russell Investments named Trevor Persaud as practice leader of its consulting and advisory business in the ASEAN, India, Hong Kong, and Taiwan. He reports directly to Mahendran Nathan, the chief executive for the aforementioned regions.
Threadneedle named Andrew Chan as head of product and business development for the Asia-Pacific region. It also appointed Tony Poon as head of client service and business for North Asia and Harry Tan for South Asia. All three are from Merrill Lynch. Chan reports directly to Raymundo Yu, the chairman for Asia-Pacific.
Martin Currie appointed Jean-Luc Eyssautier as head of its Asian sales and client service business. Eyssautier stepped in from AXA Investment Managers Asia, where he served as head of intermediary sales in Hong Kong.
Aberdeen Asset Management Asia hired Christian van Beek as a senior property investment specialist for its Singapore headquarters. Van Beek joined the company from CBRE - Real Estate Finance Asia in Hong Kong.
Temasek Trust named Jacqueline Wong as its new chief executive officer. Wong was previously a senior partner at Egon Zehnder International, where she served as head of the financial services practice for Asia-Pacific and as global head of the sovereign wealth funds practice.
Credit Suisse appointed senior private banking manager Francesco de Ferrari as its market area head for Singapore, Malaysia and Indonesia, effective 1 August. Based in Singapore, de Ferrari will report to Marcel Kreis, head of private banking for the Asia-Pacific region. At present, de Ferrari is managing director and CEO of Credit Suisse Private Banking Italy. He joined Credit Suisse in 2002.
Equity Trust appointed Sharon Yam as general manager of the private clients team in Singapore. Yam has worked in the US and Singapore and has focused experience with the trustee and family office fields.
Julius Baer named Peter Siber as chief risk officer for Asia and the Middle East. He was previously head of credit advisory and structuring and deputy group head of credit at the bank’s Zurich headquarters. Based in Singapore, Siber is also a member of the executive committee for Asia and the Middle East and head of the risk committee for Singapore. He reports regionally to Dr Thomas Meier, chief executive for Asia and the Middle East, and functionally to Bernhard Hodler, group chief risk officer.
DBS Private Bank appointed Terry Alan Farris to lead its family office and advisory business. Farris, who previously served as wealth advisor at UBS and MeesPierson Private Bank, joined the company in January 2011 as senior vice president and head of family office. Farris reports to Su Shan Tan, the head of wealth management.
Rothschild Private Banking & Trust appointed former senior UBS manager Riccardo Petrachi as head of its ultra high net worth clients division, a newly-created role. Petrachi joined from UBS.
Dagmar Woehrl, a German member of parliament, joined the board of Bank Sarasin at the Swiss private bank’s AGM on 5 April. She replaced existing board member Christian Brueckner.
Christoph Ammann, chairman of Basel-based Bank Sarasin, paid tribute to his vice-chairman Hubertus Heemskerk, who died on 22 March 2011.
Vontobel, the Swiss bank, appointed Axel Schwarzer, a former Deutsche Bank senior manager, as the new head of its asset management division, effective from 4 May this year. He replaced Zeno Staub, who will become chief executive of the entire group on that date.
The Swiss private banking group Clariden Leu named a new chief executive to replace Hans Nützi, who decided to step down from the position. Olivier Jaquet was appointed as group CEO.
The board of directors for Vontobel, the Swiss private banking group, named Heike Herr as managing director for private banking and Dr Rudolf Reinhard Müller Rahm as managing director for finance and risk effective 1st April 2011.
Smith & Williamson Investment Management made four new appointments to bolster its investment team in Dublin. Frank Brennan, Cedric Cruess Callaghan and George Flynn, are joined by Derek Ryan, who is to offer pensions and financial planning advice.
Societe Generale Private Banking made four internal appointments to reinforce and expand its wealth planning, fiduciary services and life insurance offerings. Jon Needham became its global head of fiduciary services for SocGen Private Banking network. Vittorio Castellani took on the role of global head of wealth planning and fiduciary services for Latin American clients at SocGen Private Banking. Cécile Decomps was named global head of life insurance at SocGen Private Banking. Marco Cameroni was appointed head of wealth planning and fiduciary services for SocGen Bank & Trust’s private banking activities in Luxembourg.
Banque de Gestion Privée Indosuez, the French private bank, made four new appointments. Emmanuel Simon joined as a private banker, responsible for regional development, to be based in Paris. Alexandre Guerre-Chaley and Damien Saby joined in the same role, both to be based in Lyon. Arnaud Cadré was appointed as a private banker in Paris.
M&G Investments, subsidiary of Prudential, expanded its France team with the appointment of Benjamin de Frouville as co-head of distribution. De Frouville was previously at Karen Finance working with partner relations.
Lazard Frères Gestion strengthened its French private banking and fund management team with the appointments of Jean-Jacques de Gournay and Matthieu Grouès as associates. Jacques de Gournay previously worked at CPR and Paribas, whereas Grouès was put in charge of collective and institutional management at Lazard Frères Gestion in 2009.
Merrill Lynch Wealth Management appointed Alberto Cejudo Podio as a financial advisor in Madrid. Cejudo Podio joined from Banque Privée Edmond de Rothschild, where he was a senior manager working with high and ultra high net worth Spaniards
BNP Paribas Fortis appointed Peter De Keyzer as chief economist. He succeeded Freddy Van den Spiegel who stepped down after 35 years at the bank. Keyzer was latterly chief economist at Petercam.
New York-headquartered CTPartners, an executive search firm, appointed Sam Stylianou as a partner to expand its financial services practice in Europe. He joined from Armstrong International which is located in Geneva.
Deutsche Bank nominated Katherine Garrett-Cox to its supervisory board, succeeding Sir Peter Job, whose membership ends on 26 May. Garrett Cox was previously the chief executive of the UK-based Alliance Trust since 2008.
Credit Suisse appointed former PricewaterhouseCoopers partner Michael Knoll as head of its onshore Russian private banking business, who will help to develop the bank’s wealth management business. Knoll was a transaction manager and a senior member of the risk transformation and capital management team at UBS in Zurich.
Sal Oppenheim jr & Cie named Hanspeter Oes as its new chief executive to replace Dr Christian Camenzind, who is to join Deutsche Bank Private Wealth Management Asia-Pacific as chief operating officer.
Appleby, the offshore legal, fiduciary and administration services provider, named Carlos de Serpa Pimentel as the new global practice group head of its private client and trusts practice division.
Butterfield Bank (Bahamas) appointed Robert Lotmore as chairman and Julien Martel as managing director, with effect from 1 June 2011. Lotmore joined Butterfield Bank in 2003 and Martel joined Butterfield in 2000.
The international offshore law firm Mourant Ozannes, appointed Morven McMillan as head of its trusts practice group and Julian Fletcher as a member of the funds practice group in its Cayman Islands office. McMillan previously worked as head of trust and fiduciary disputes at Charles Russell before joining Mourant in 2010 and Fletcher practised law in New York and Toronto with Shearman & Sterling before joining in 2004.
Carmignac Gestion, the French asset manager, strengthened its commodities team with the appointment of Simon Lovat. He previously worked for the entrepreneurial firm Gaia Capital Advisors in Geneva.
Invesco Asset Management, part of the investment management firm Invesco, strengthened its Middle East team with the appointment of Nicki Hayden, to be based in Henley. Hayden latterly worked for Invesco UK’s retail sales team and has spent some of her career at Zurich Financial Services.
Vistra, a provider of trust and fiduciary services, expanded its private clients team in Jersey with the appointment of Simon Morgan as director. Morgan was latterly at RBS Coutts as global head of trust and fiduciary.
Harney Westwood & Riegels, the offshore international law firm, strengthened its presence in Latin America with the appointment of Brazilian lawyer Maria Buchi as head of business development. Buchi, was latterly serving as in-house counsel at Triscorp Investimentos and Opus Gestao de Recursos.
The Swiss private banking group Julius Baer named Peter Siber as chief risk officer for Asia and the Middle East. He was previously head of credit advisory and structuring and deputy group head of credit at the bank’s Zurich headquarters.
Barclays Wealth expanded its Jersey-based team with the appointment of Tony Pitcher as client director within its wealth advisory division on the island. He also worked as a managing director at Royal Bank of Canada Trust Company.
BNP Paribas Investment Partners, the asset management business of the BNP Paribas Group, appointed six new executives to strengthen its sales and marketing structure. Michel Anastassiades joined as head of business development, Andrea Favaloro was named head of external distribution sales, Anthony Finan will now be responsible for the new BNP Paribas Group Networks department, Marianne Demarchi took the role of head of Group Networks and there were also two regional appointments, with Roger Price-Haworth hired as head of institutional clients UK & Ireland. Finally, Graham Elliot was named CEO of BNP Paribas Asset Management in the Middle East.
Harney Westwood & Riegels appointed Mann Vergan in Central & Eastern Europe, the CIS and Russia to spearhead legal practice in these regions. The firm named Lawrie Kearns to its trusts practice team in the British Virgin Islands. Vergan had a previous role at CMS Cameron McKenna and Kearns joined from the offshore tax department of Rooks Rider.
Jersey Trust Company named Saffron Harrop as group director of the firm, Wendy Holley as director of operations and Miranda Lansdowne, as director in the corporate services area. Harrop previously worked in the private client services area of the business, Holley was head of human resources and Lansdowne was responsible for JTC’s fund administration practice.
Pictet & Cie, the Swiss private bank, named Nabih Haddad as the new head of wealth management for the Levant region in Dubai. Haddad was previously a private and institutional wealth manager with Merrill Lynch PF&S in Lebanon.
David Sokol, the man seen as a potential successor to Warren Buffett at Berkshire Hathaway and a chairman at several of the investment firm’s subsidiaries, resigned after buying shares in a chemical company then suggesting to Buffett the idea of purchasing it.
Citi Private Bank added five professionals from Wilmington Trust to its Philadelphia office, focusing on the ultra high net worth client segment.
Barbara McCollum and Robert Rosenberg joined as managing directors and private bankers. McCollum was with Wilmington Trust for some 30 years, and was most recently that firm’s Delaware Mid-Atlantic wealth advisory market leader.
Rosenberg, meanwhile, was Wilmington Trust’s head of sales for the Mid-Atlantic region, and spent nearly 13 years at the firm.
Also joining the Philadelphia office is Timothy Carroll, who was appointed as a director and wealth planner. He joined Wilmington in 2010 from PNC Wealth Management in Delaware, where he was a senior wealth planner. As well as estate planning and transfer, he specializes in exit strategies for business owners.
Citi also named Paul Gordon as a director and investment counselor at its private bank. Gordon was latterly a senior investment advisor and vice president at Wilmington Trust, prior to which he was at Wachovia Bank.
Completing the appointments is Jennifer Phillips, who joined Wilmington in 2006 and is now moving to Citi Private Bank in the capacity of banker associate.
Houston-based US Capital Advisors appointed Michael McConnell as a managing director, specifically to focus on working with energy entrepreneurs looking to access additional capital to grow their businesses.
McConnell joins USCA from Morgan Stanley Private Wealth Management, where he was a vice president, also in Houston. Before this he co-founded the long/short equity hedge fund Spring Street Advisors and served as co-portfolio manager on the strategy. During his career he has also been involved with structuring several energy-related private equity transactions, which had a cumulative value of over $200 million in equity and debt.
US Trust made five senior wealth management hires in the West, Central and East divisions. These moves in San Francisco, Portland, Seattle, Houston and Richmond were part of an initiative targeting ultra high net worth clients in key markets across the nation.
Therese Murphy Firestone joined as a senior vice president and private client advisor in San Francisco from Smith Barney, where she was a managing director and led their software and networking research teams.
Michelle Castano Garcia was given the same roles in Portland, Oregon, coming from Washington Trust Bank where she was a vice president and senior relationship manager. Joel Petersen joined from Bernstein Global Wealth Management as a senior vice president in Seattle.
Belinda Phelps took up the post of senior vice president and private client advisor in Houston, Texas from Citi Private Bank, where she was the director and senior private banker responsible for developing private wealth financial solutions for their ultra high net worth individual and family office clients.
Lloyd Conley will be a senior vice president and senior trust officer in Richmond, Virginia. He joined from SunTrust Bank Private Wealth Management where he was senior vice president and region trust advisor.
First Republic Bank appointed Christine Gorelick as managing director at its St Helena, California office.
Gorelick will provide a range of banking, lending and wealth management services to individuals and businesses in the Napa and Sonoma counties, as the bank expands in the wine counties. Prior to joining First Republic, Gorelick was a senior private banker at Wells Fargo Bank, and also previously held a similar role at Bank of America in San Francisco. Before joining BoA she worked for Union Bank of California in large corporate and commercial banking.
CIBC, the Canada-based bank, reshuffled its senior management team, appointing Victor Dodig as senior executive vice president and group head, wealth management.
Dodig, who joined the bank in 2005 and previously held a number of other leadership roles within its retail and wealth management businesses, will join the senior executive team, reporting to Gerry McCaughey, chief executive of CIBC.
In other group-level changes, Kevin Glass was appointed as senior executive vice president and chief financial officer. He joined the bank in 2009 and also reports to McCaughey.
Glass takes over as CFO from David Williamson, who was named senior executive vice president and group head, retail and business banking. He is responsible for the firm’s Canadian personal and business banking operations. Completing the changes is Richard Nesbitt’s appointment as senior executive vice president and group head, wholesale, international and technology and operations.
BNY Mellon Alternative Investment Services expanded its global team with hires to its US and EMEA businesses. Jim Whitaker was named head of relationship management for the Americas, a role previously held by Marina Lewin, who was recently named global head of sales for Alternative Investment Services.
Whitaker was latterly head of the alternative fund client management team, and has also held positions within the company's corporate restructuring and global client management groups. In his new role he will oversee the firm's relationship management teams in the US, covering hedge funds, funds of hedge funds, prime custody and private equity administration.
Also recently appointed is Mark Mannion, who takes on the role of head of relationship management for EMEA. Mannion was previously the managing director of European business for the former PNC Global Investment Servicing unit, which BNY Mellon acquired in 2010.
Whitaker and Mannion will be based in New York and Dublin respectively, and will report directly to Brian Ruane, the AIS chief executive for BNY Mellon.
The Toronto-headquartered investment firm Sprott appointed David Franklin as chief executive officer of Sprott Private Wealth and Paul Wong as a portfolio manager for Sprott Asset Management.
Franklin joined Sprott in 2008 as a research analyst, and was latterly a market strategist assessing the macroeconomic environment. Wong, meanwhile, was most recently a portfolio manager focusing on natural resource-related funds for Natcan Investment Management.
US Bank Wealth Management appointed Daniel Rauchle - latterly of Wells Fargo & Co - as head of investment management for its ultra high net worth division. Rauchle was latterly the president and founder of Wells Fargo Alternative Asset Management, a subsidiary of Wells Fargo & Co. He also previously served as head of the Wells Fargo Family Wealth Alternative Investment Group and as chairman of both WFAAM's investment advisory board and SEC-registered funds board.
In his new position at US Bank, Rauchle will lead the investment process and develop and head the group responsible for creating and implementing customized investment strategies for UHNW clients. This covers risk management, manager due diligence, asset allocation, portfolio construction, and communication on investment policy and trust and fiduciary issues.
Whittier Trust Company, the US-based investment and wealth management firm, hired Peter Zarifes as senior vice president and member of the executive committee. Zarifes joins Whittier Trust after 25 years of working with high net worth individuals and families. He spent the last 11 years as a managing director at Bessemer Trust.
In his new role, he will be responsible for the day-to-day management of client relationships. He will be based at the firm's South Pasadena, California office.
Seattle, Washington-headquartered Russell Investments, a subsidiary of Northwestern Mutual, named Trevor Persaud as practice leader of its consulting and advisory business in the ASEAN, India, Hong Kong, and Taiwan.
Persaud will lead the development and delivery of investing consulting services to clients in the above regions, covering business areas including investment advisory, asset allocation, strategic asset tilting, risk management, and portfolio construction. He reports directly to Mahendran Nathan, chief executive for the ASEAN, Hong Kong, Taiwan, and India.
First Republic Bank added Matthew Keenan as a relationship manager at its Santa Barbara, California office, a region in which the firm says it is expanding. Keenan joins from Santa Barbara Bank & Trust, where he was a vice president and private banker. Prior to that, he worked for Citibank.
In his new position Keenan will work with individuals, families, businesses and foundations to provide banking, investment management, trust, brokerage and real estate lending services.
Norcross, Georgia-headquartered Triad Advisors promoted Chet Payne to the role of executive vice president and chief operating officer, and Ernie Strauss to senior vice president, chief compliance officer.
Payne was latterly a senior vice president and chief operating officer at the firm, but his position has been expanded to include oversight of the firm’s daily operations, technology, accounting and advisor compensation departments.
Strauss was formerly a vice president, as well as Triad’s deputy chief compliance officer. He is now responsible for the oversight of daily compliance functions and ensuring compliance with state, federal and self-regulatory agency regulations.
Baird expanded its new San Francisco office with the addition of Jason Schlesinger as a financial advisor, director and Stephanie Wong as a registered client relationship specialist. Both join from Wells Fargo. Schlesinger, who spent the last three years at Wells Fargo, oversees $200 million in assets and generates $1.3 million in annual production. Prior to joining Wells Fargo he worked at Bank of America Investment Services. Wong also spent the last three years at Wells Fargo, and worked at BofA Investment Services before that.
Harris Private Bank, part of BMO Financial Group, appointed Kent Anderson as a senior private banker in the Naples, Florida area.
Anderson latterly worked at US Trust, also in the Naples region, where he was a senior vice president, private client manager. He took up that role in 2004. Prior to that, he worked at Northern Trust, Bank of America, Huntington Private Bank, and Continental Illinois National Bank.
In his new role he is charged with designing, developing and implementing customized solutions for the private bank’s clients.
Raymond James, the Canadian arm of North American investment dealer Raymond James Financial, appointed industry veteran Andy MacLean as its new private client strategist for Canada.
MacLean previously served as head of investment strategy at Richardson GMP where he was responsible for that firm's investment strategy including asset allocation, security recommendations and alternative products.
US Bank Wealth Management appointed Scott Winget – latterly of Wells Fargo – as senior managing director of wealth planning for its ultra high net worth group. In his new role, which he took up on 21 March, he is responsible for developing and leading complex wealth planning, family education, governance and stewardship for US Bank’s UHNW clients.
Based at the firm’s Denver, Colorado office, he reports to Michael Cole, president of the firm’s UHNW group.
At Wells Fargo, Winget was senior vice president and managing director of the firm’s wealth planning center. He was also formerly a vice president and wealth planning advisor for Fifth Third Bank.
HighTower recruited an advisory team from Merrill Lynch for its office in Naples, Florida. The new team, called Masterson, Emma & Associates, is comprised of Mark Masterson and David Emma. Both join HighTower as managing directors and partners.
Masterson was an advisor at Merrill Lynch for over 14 years, and was also ranked as a Barron's Top 1000 Financial Advisor in 2010, according to HighTower.
Envestnet appointed Sean Mullen from Fortigent as vice president, director of portfolio strategies, eastern region, and John Fitzpatrick from Fidelity as senior vice president on the enterprise sales team.
In his new role Mullen will consult with Envestnet partners and advisors on growing their firms, and will also promote the use of unified managed accounts. At Fortigent, Mullen was a director of sales and an architect of the firm's UMA platform.
Fitzpatrick joins from Fidelity Investments and, among other tasks, will be responsible for working with Envestnet partners to explore distribution opportunities, and assist them to raise assets through advisory solutions. At Fidelity he held various roles, including in strategy development, the Fidelity mutual funds, intermediary distribution, international markets, and wealth management.
Gibraltar Private Bank appointed Walter Schacht as senior vice president, market executive for its Naples, Florida branch. Schacht latterly worked at another Florida-based private bank, where he served as a director and wealth advisor. He specialises in financial planning, estate planning, investment management, and wealth transfer.
Genworth Financial appointed Martin Klein as its new senior vice president and chief financial officer, effective April 2011. Klein's background covers deep life insurance and finance and investment banking. He joins the firm from Barclays Capital, where he was a managing director, leading both the insurance solutions and the pension solutions units. Prior to that, he also led the insurance advisory division of Lehman Brothers.
Caldwell Partners, the international executive search firm, bolstered its financial service practice with the appointment of Richard Stein to its New York office.
Stein's recruitment experience encompasses private banking, wealth management, risk and compliance, and consumer banking, on a global basis. Prior to his new post, he was a senior partner for the North Atlantic unit of Global Sage, and also served as a senior client partner at Korn/Ferry International before that.
Palmer Square Capital Management, the investment firm that serves high net worth registered advisor firms and institutional clients, named Angie Knighton Long as its chief investment officer.
Long joined the company in February 2011 and is currently a member of the firm's investment committee. Before that, she worked for JPMorgan Chase & Co in New York, where she held a number of management and trading positions. Her trading experience covers high-yield bonds, high-yield credit derivatives, distressed debt, capital structure arbitrage and structured credit.
At Palmer Square, Long's key responsibilities include all investment-related activities, with a focus on portfolio and risk management.
Citizens Financial Group strengthened its premier banking division with the appointment of Lauretta Chrys as its new head. Chrys previously headed the firm's retail banking unit for the New York market and will be based in Boston for her new role.
Fiduciary Investment Management International appointed C Ware Palmer as managing director of business development.
Palmer's new role will see him responsible for building new investment and trust client relationships with individuals, families, and foundations. Before joining the company he was senior vice president and team director at BB&T Financial, where he led the wealth management units in Washington DC, Virginia, and Maryland. At Fiduciary, Palmer will be based in Washington DC.
Barclays Wealth, part of the UK-listed bank, bulked up its US operations with the addition of 14 investment representatives to its New York, Miami, San Francisco, Los Angeles and Boston offices.
In New York, Steven Sweetwood joins from JP Morgan, and Robert Meenan and Shlomi Yedid join from Merrill Lynch. The trio report to Mark Stevenson, regional manager for the New York office.
Meanwhile, Louis Tinoco and Ruben Lesmes join the private bank’s Miami office. Tinoco has worked at UBS since 2005, and Lesmes was latterly a relationship manager working with Latin American private banking clients at HSBC. Both report to Marilyn Gonzalez, regional manager for Miami.
In San Francisco Alex Witherill and Matt Hodus were recruited from Credit Suisse. Witherill specializes in advising ultra high net worth clients.
Also joining the San Francisco office are Christopher Bender, John Shaw and Peter Kong. All three join from Thomas Weisel Partners, where Bender was lead portfolio manager and head of fixed income in private client services, and Shaw and Kong advised HNW clients. All five report to Doug Ireland, regional manager for San Francisco.
Recruited to Barclays Wealth’s Los Angeles office are Ron Jacoby, latterly of JP Morgan, and Larry Roth and Gerald Gallagher, who join from Northern Trust. Jacoby, Roth and Gallagher report to Brian Sears, regional manager for Los Angeles.
Completing the raft of hires, Joel Beeders was appointed to the firm’s Boston office. He joins from Merrill Lynch, prior to which he worked at a number of law firms.
Citigroup appointed Dermot Boden as its chief brand officer, responsible for the company brand across all of its businesses, including wealth management. In his new role Boden is responsible for ensuring Citi’s brand is consistent and effective throughout the group, and for leading strategy in this area.
Boden latterly worked at LG Electronics, where he was global chief marketing officer. Prior to that he worked in business and marketing roles at Pfizer and Johnson & Johnson in Europe, Asia and the US.
Appropriate Balance Financial Services, the Bellevue, Washington-based wealth management firm, appointed Mark Jaeger as its chief operating officer and chief compliance officer.
Jaeger was formerly chief operating officer and chief investment officer at Moss Adams Wealth Advisors. He was also chair of the wealth advisors investment committee at the firm. In his new role he will be responsible for practice management, technology, finance and compliance, and also join ABFS’ investment committee.
The Bank of America board of directors appointed Mukesh Ambani, chairman and managing director of India-based Reliance Industries, as a director. Ambani will stand for election at the 2011 BofA annual meeting of shareholders.
With the appointment of the first non-American citizen to its board, BofA says it is aiming to increase its global perspective. Ambani headed Reliance Industries since 2002, after joining the firm in 1981. It is India’s largest private enterprise, and was also the country’s first private sector company to make it into the Global Fortune 500.
He is also a member of the Indian prime minister's Council on Trade and Industry, a member of the Indo-US CEOs Forum, and the co-chair of the Japan-India Business Leader's Forum, and the India-Russia CEO Council.
Sanibel Captiva Trust Company, the Florida-based independent trust firm, brought in market analyst Patrick Dorsey as its new vice chairman, director of research and strategy.
Dorsey was previously a director at Morningstar, where he was charged with developing the firm's equity research process and economic moat ratings.
In his new role, he will be responsible for leading the company's investment research and portfolio management efforts and overseeing certain major client accounts. In addition he will serve as chairman of Sanibel Captiva's asset management committee and manage the firm's recent investment in Suncoast Equity Management. He joins Tim Vick, senior vice president and senior portfolio manager, at the firm's Chicago office.
Bank of America Merrill Lynch added a UBS advisor team as well as a branch manager from Morgan Stanley Smith Barney. Brothers David and Kenneth Ramirez reportedly moved from UBS to Merrill Lynch’s office in Paramus, New Jersey, while Shamus O'Rourke – latterly of MSSB – reportedly joined Merrill Lynch in New Haven, Connecticut.
Florida-headquartered GenSpring Family Offices bolstered its Mid Atlantic coverage with the hire of Brett Scola as a family wealth advisor. In his new role Scola is responsible for a variety of wealth management services including estate planning, tax, financial planning, fiduciary, philanthropy and family governance issues.
He is charged with working with clients’ advisory teams as well as external advisors to make sure all aspects of their family wealth plans are coordinated. Scola joined from PNC Wealth Management, where he was a senior wealth planner. Prior to PNC, he worked at Wachovia Wealth Management as a relationship manager and wealth strategist. He also previously spent 12 years at the tax advisory practice of PricewaterhouseCoopers.
Convergent Wealth Advisors strengthened its Washington DC office with the appointment of Gregory Blake as director.
Blake, who was previously a vice president at Bernstein Global Wealth Management, will focus on expanding the company's presence in Washington DC, as well as the Baltimore metropolitan areas. At Bernstein he specialized in dealing with high net worth families and institutions on investment planning and strategy.
New York-based Signature Bank added two private client banking teams as well as a group director to one of its existing teams.
The first team to join are Vincent LoPreto, Keti Dervishi and Claudia Aviles, who all join the bank’s Madison Avenue, Manhattan, New York private client office. LoPreto and Dervishi were appointed group directors and senior vice presidents, while Aviles is a senior client associate. The team joined from Metropolitan National Bank and have worked together for a total of 10 years. Meanwhile, joining the firm’s office in Jamaica, Queens, New York are George Taitt, as group director and senior vice president; John Millwood, as associate group director; and Cindy Sankar, as a senior client associate.
Taitt was latterly the branch manager and vice president for CapitalOne Bank in Jamaica, Queens, where he worked with Sankar for five years. Millwood joins from JP Morgan Chase.
Completing its recruitment drive, Signature Bank named Todd Flamenbaum as group director and senior vice president of its private banking team headed by David Saunders in Melville, Long Island, New York. Flamenbaum was previously a senior vice president/senior client relationship manager at Bank of America in Melville.
New York-headquartered CTPartners, an executive search firm, appointed Sam Stylianou as a partner to expand its financial services practice in Europe.
Stylianou, who predominantly serves capital markets and asset and wealth management clients, will be based at the firm’s London and Geneva offices.
He joins from Armstrong International, where he was most recently responsible for strengthening the firm’s asset and wealth management practice, located in Geneva. Prior to this, he specialized in derivatives and capital markets recruiting, covering both developed and emerging markets.
Northern Trust filed a proxy statement for its annual meeting for 2011 where 13 new directors will be elected.
William Smithburg will be retiring this year and will not stand for re-election. Smithburg, a director since 1981, steps down after 30 years at the company. He has also formerly served as chairman, president and chief executive of the Quaker Oats Company.
Meanwhile, Martin Slark, the vice chairman and chief executive of Molex Incorporated, will be put up for election to the Northern Trust board. Slark has been with Molex for 35 years and is credited for having started the firm's offices in various Asian countries.
Index Wealth Management, a Canada-based portfolio manager, added an office in Vancouver and hired portfolio manager Gordon Ross to lead its expansion throughout British Columbia.
Ruggie Wealth Management, the US-based asset management and financial planning firm, strengthened its financial advisory team with the addition of Timothy Moyer and Louis Shinaman. Moyer was latterly chief compliance officer at a securities firm based in Longwood, Florida and New York, New York where he oversaw compliance operations across the firm.
Shinaman previously spent the majority of his financial services career as a producing manager. After a stint at Southern Financial Group, where he was one of the firm’s top producers, he launched his own independent brokerage in 2004.
Chicago, Illinois-based Blue Prairie Group added Kevin Moore as a client relationship manager. In his new role Moore will support the client relationship management group, working on both institutional and individual relationships. He joins from Portland, Oregon-based Paulson Investment Company, where he was an investment executive with similar responsibilities.
Gibraltar Private Bank & Trust, the privately-held bank based in Coral Gables, Florida, hired Angel Medina as chief credit officer and executive vice president. Medina’s prior career includes 10 years as South Florida president for Regions Bank, as well as a 12-year term at Barnett Bank.
He replaces Peter Raffalski, the former chief credit officer, who remains at the bank as executive vice president, chief branding and community relations officer.
Eaton Vance Investment Counsel, a subsidiary of Eaton Vance Corporation, appointed Stephen Kistner as vice president, investment counselor. In his new role Kistner reports to G West Saltonstall, president of Eaton Vance Investment Counsel. EVIC provides investment management and counseling services to high net worth individuals, families, trusts and foundations.
Kistner joins from the multi-family office Bessemer Trust, where was a managing director and senior resident officer in the Boston market. He also formerly worked at US Trust Co and State Street Bank and Trust Company, and specializes in areas such as asset allocation, equity selection, diversification, financial planning and gifting strategies.
Robert Elliott, senior managing director at Bessemer Trust, will retire from that role at the end of the month. Elliott will remain active in the firm as a senior advisor. A single successor will not be named. Well known in the wealth management industry, Elliott joined Bessemer in 1975, shortly after the Phipps family opened its family office to other wealthy families.
San Mateo, California-based Franklin Templeton Investments appointed Pierre Caramazza to head up its registered investment advisor sales division, as well as filling three other posts in the RIA division.
In his new role Caramazza will oversee the expansion of Franklin Templeton’s services within the RIA marketplace, across the firm’s complete product range. He reports to Dan O’Lear, executive vice president of US advisory services for Franklin Templeton Distributors.
Caramazza, who has been with the firm five years, was latterly a senior vice president, running the fixed income product management and development and regional product strategy groups.
Baird Private Wealth Management hired Dean Cottle as brokerage manager for a soon-to-open new office in Salt Lake City, a report by Reuters said. The firm also plans to add 150 advisors.
Cottle joined from Morgan Stanley Smith Barney where he was complex manager. Joining Cottle from MSSB is Theresa Sommerdyke, a vice president and administrative officer manager.
UK-based alternative asset manager Man Group bolstered its US team with three new hires.
Stepping in as senior analyst for the equities unit is Todd Kata, who will be focusing on hedge fund research. Kata, who was managing director at Calypso Capital, will be based in New York and report to Robin Lowe, head of equities.
Also joining as analyst but on the portfolio management team is Jeremie Ho Hio Hen, who will be overseeing the research and construction of analytical models. Before he took on this new post, he was a rates and foreign exchange trader at JP Morgan. He reports to Art Holly, portfolio management head for North America.
Completing the list of new hires is Michael Callahan, who becomes part of the North American sales team with a focus on US institutional and family offices. Callahan, who used to be a vice president at Blackstone Group, will report to Raffaele Costa, the head of North America and Europe sales.
Merion Wealth Partners, the advisor-owned, independent wealth management firm, appointed Richard Hughes as president, responsible for spearheading advisor recruitment.
As well as growing the firm’s network of advisors, Hughes will also be working with advisors to help them grow their practice using Merion’s infrastructure and support.
Hughes was latterly co-president of Portfolio Management Consultants, a unit of Envestnet Asset Management. He was also formerly president of the separate accounts division for Nuveen Investments, including Nuveen Asset Management and Rittenhouse Asset Management.
UBS Wealth Management Americas recruited a trio of advisors from Morgan Stanley Smith Barney who have a combined $1.1 billion in assets under management. Renato Reali, Paul Vigue and William Platt, known as The Fortis Group, have UBS’ Avenue of the Americas branch.
Also joining the New York office is Steven Erenfryd. He comes on board from Oppenheimer & Co and has $100 million in assets under management.
Boston Private Bank & Trust Company appointed Tim MacDonald as vice president and chief risk officer, replacing Robert Buffum. In his new role MacDonald will become chair of the risk management oversight committee and serve as a member of the bank’s key governing committees, including its policy group. He was latterly a member of the enterprise risk management group at the firm’s parent company, Boston Private Financial Holdings.
Buffum, meanwhile, reportedly remains at the bank, but no further details were given on what his position will be going forward.
US Trust ramped up its recruitment with the appointment of 14 advisors for its wealth management services across the country, according to media reports. The firm, the private banking unit of Bank of America Corp, added seven client advisors, four portfolio managers and three senior trust officers, from UBS, Northern Trust, BNY Mellon and US Bancorp.
From those hired, John Benun and Warren Cohn, client advisors to be based in Century City, California, join from BNY Mellon. From Northern Trust Mark Kessinger is named portfolio manager to be based in St Louis, Missouri and Elizabeth Kurman is named trust officer in Chicago. From UBS, client advisor Christopher Robinson will be based in Portland, Maine.
Meanwhile portfolio manager Teresa Meyer joins from DA Davidson to be based in Portland, Oregon and George Smith, a portfolio manager for SunTrust will join US Trust in Nashville.
PineBridge Investments, a US-based financial services company, appointed Arthur Lau as managing director, head of Asia ex-Japan fixed income.
Lau brings over 20 years of experience in Asian fixed income to his new role. Based in Hong Kong, he will be responsible for the company's Asian fixed income capabilities, with a particular focus on local fixed income investment strategies for cash unit trusts, pension funds, and other client portfolios. He will lead a team of eight fixed income specialists based in Hong Kong, Korea, Singapore and Taiwan. In addition, Lau will be a member of the emerging markets and international fixed income team.
Prior to PineBridge, Lau served as senior portfolio manager and head of Asian credit at JP Morgan Asset Management in Hong Kong. Before that, he was a director in credit research at Barclays Capital in Singapore and a director at Fitch in Hong Kong.
BNY Mellon Asset Management announced new heads for Mellon Capital Management and The Boston Company Asset Management.
Gabriella Parcella, who served as chief operating officer of Mellon Capital since 2008, was appointed chief executive officer of the company. Other related appointments within the firm involve Charlie Jacklin, who was named chairman, and Tom Loeb, who shifted from being chairman to join his Mellon Capital co-founder Bill Fouse as chairman emeritus.
The othey key appointment was that of Bart Grenier, who assumes the role of chairman and chief executive at The Boston Company Asset Management. Grenier stepped in from Deutsche Asset Management, where he served as chief investment officer and global head of institutional investments at DB Advisors. His new position takes effect on 1 June 2010. During the transition, Grenier will be working closely with outgoing chief David Cameron, who will assume a senior role within BNY Mellon Asset Management.
Bank of America's Lyle LaMothe is retiring as head of Merrill Lynch's US wealth management business after 24 years at the firm. According to the memo, LaMothe, who took up the role in 2008, wants to focus on personal interests going forward but will remain in role until 1 May.
First Republic Bank hired Philip Hill to work in its private wealth management business as portfolio manager and managing director at its San Francisco headquarters.
Hill joins from US Trust, where he was senior vice president and portfolio manager; before that, he worked for the Savant Group and Rankling Futures and Options.
First Republic said in a statement that it is continuing to expand to meet what it sees as increased demand from clients for wealth management services throughout its markets.
Mark Pannes left his role as head of the global sports group at HSBC Private Bank, and will be returning to the US to work for the hedge fund firm Raptor Capital Management.
He joined HSBC in 2006 to spearhead the launch of the bank’s global sports division, and went on there to strike a high-profile partnership deal with IMG Worldwide, the sports marketing giant which has counted golfing stars such as Tiger Woods, Colin Montgomerie and Sergio Garcia among its clients.
Exact details of his role at US-based Raptor Capital Management have not emerged yet; however, in contrast to media reports around, it is understood he will not be working in an investment management capacity.
Brown Brothers Harriman appointed two new partners, adding Jared Keyes and Jeffrey Meskin to its ranks.
Keyes joined BBH in 1994 in Boston as a corporate banker. He is responsible for the banking activities of the firm's New York office, which include the commodities trade finance group and the local tri-state corporate banking practice.
Prior to moving to New York in 2008, Keyes was a managing director in the corporate banking group in BBH's Boston office.
Meskin joined BBH in 2000 as an executive in the mergers and acquisitions advisory group and the 1818 equity funds. Since 2007, he co-managed BBH Capital Partners private equity funds.
Credit Suisse appointed Eric Miller as managing director and head of fixed income research globally, effective June this year.
Miller most recently served as global head of credit research at Barclays Capital. Prior to that, he worked in the research departments of Goldman Sachs and Merrill Lynch. In his new role he will be based in New York and will report jointly to Gael de Boissard and Tony Ehinger, the co-heads of global securities.
As the new MD and fixed income head, Miller will be responsible for continuing to build on the unit's growth strategy. The Credit Suisse research department offers cross-product and economic research content.
Miller takes on a role that has been empty since the former fixed income chief, Lara Werner, was named head of finance for investment banking in June 2010.
Paulson Wealth Advisors, the independent investment advisory arm of Portland, Oregon-based Paulson Investment Company, added two financial advisors to help grow this newly-launched division in the Pacific Northwest.
Brent Norman and Erik Lawrence were appointed to work with John Noble, managing director of PWA, who was given the role of spearheading the wealth arm at its launch late last year. They are charged with working with Noble to expand the division.
Lawrence is a board director for both the Dougy Center and the Portland State University Foundation, while Norman was formerly a financial advisor at Kidder Peabody, a UBS predecessor firm.
HSBC Private Bank in the US appointed Victoria Garrigo as Southeast regional manager, based in Miami.
Garrigo reports to Patrick Campion, chief executive US private bank. Previously, she held various management roles at Northern Trust including most recently as a managing director in wealth advisory.
Presidio Financial Partners named Paul Boscacci head of wealth management operations.
In the newly created position, he will be responsible for day-to-day operations and reporting for Presidio’s wealth management business, the firm's largest unit.
Previously Boscacci was a founding partner of Offit Capital Advisors in New York, where he established and managed the firm’s operations, technology, and reporting platforms. As vice president of Offit Hall Capital Management, he developed the operations platform for the firm’s client advisory practice and built and maintained client investment portfolios.
Fieldpoint Private Bank & Trust hired Paul Guidone as its chief investment officer.
Guidone is a former chief investment officer of Citigroup Global Wealth Management where he oversaw investment activities, totaling $1.3 trillion in assets under management, for Citi Private Bank and Smith Barney. He left Citigroup in 2007.