Executive Industry Moves In North America: September 2014

Eliane Chavagnon Editor - Family Wealth Report October 10, 2014

Executive Industry Moves In North America: September 2014

A summary of industry moves in the Americas for September 2014.

Raymond James & Associates recruited senior vice president of investments Eric De Goldsmith-Rothschild in Miami, FL, to serve individual clients and families in the US and globally.
De Goldsmith-Rothschild joined from UBS, where he managed more than $125 million in client assets and had more than $800,000 in annual fees and commissions.
He began his career in the financial services industry 19 years ago at Prudential Securities and later worked at Wachovia Securities and UBS before joining Raymond James.
Through Raymond James, De Goldsmith-Rothschild will provide financial planning services, asset management services and portfolio management.
Bala Cynwyd, PA-based Context Asset Management, the recently-launched alternative mutual fund firm, named Andrew Wert as managing director and senior portfolio manager for single-manager funds.
Wert is responsible for the investment management of Context's single-manager products, including portfolio structure and design, sub-advisor selection, due diligence and risk management.
His appointment was an important component of Context's plan to add both single- and multi-manager alternative mutual funds to its product line-up. The firm launched its inaugural product, the multi-manager and multi-strategy Context Alternative Strategies Fund, earlier this year.
Prior to joining Context, Wert founded the investment advisor Cohesion Capital and spent five years as managing director of absolute return investments at the Brown University Investment Office in Providence, RI.
PIMCO named Daniel Ivascyn as its chief investment officer, replacing bond heavyweight William Gross, who left the firm he co-founded over 30 years ago to join rival Janus Capital Group.
Northern Trust appointed Lesley Hodgson as senior director of its global family and private investment offices group in Europe, Middle East and Africa.
Based in London, Hodgson will manage the client service teams in both London and Guernsey and will also support business development across the region. She will report to Daniel Lindley, managing director of GFO for EMEA.
US Wealth Management, a national network of independent wealth managers, appointed Edward Samp as investment operations associate to its head office investment team in Boston, MA.
Samp’s main role will be to support the investment director with the execution and communication of the firm’s overall investment strategies.
He was previously an operations and trading officer at Thunderstorm Capital, an investment marketing analyst at John Hancock Life Insurance Company, and a workstation configuration Technician at State Street Global Advisors.
Salem, OR-based True Private Wealth Advisors recruited two new advisors in the shapes of Michael Long and John Martin.
The firm also secured new office space in Portland, OR, and thus plans to expand the business under the leadership of Joe Opsahl, who joined the firm as a partner in 2013.
True Private Wealth Advisors opened its doors in 2012 with two advisor teams from Merrill Lynch's private client group combining to form a new independent advisory firm. The firm now manages over $500 million in assets under management.
Long and Martin joined as financial advisors from an independent firm and Strategic Capital Alternatives, respectively. Sandy Wolcott, an assistant to Long since 2004, also joined the firm.
Wells Fargo Private Bank appointed Marty Courage as regional director in Boston, MA, tasked with overseeing all wealth management functions for the northern New England area.
Courage will be responsible for areas including private banking, investment management, insurance and trust and estate services through Wells Fargo Bank, as well as brokerage services through Wells Fargo Advisors. He will also work with other Boston-based Wells Fargo businesses.
Courage was latterly managing director and regional manager in Boston at Barclays Wealth and Investment Management, having previously worked at JP Morgan. He established the latter firm's private wealth business in Boston and, earlier still, worked at Bank of America Investment Services as a regional investments executive.
ACE Group made two executive appointments within its high net worth personal lines insurance business, ACE Private Risk Services.
Clyde Douglas was named as senior vice president of claims and Eileen Castolene as vice president of operations.
Based in Salem, VA, Douglas will oversee the claims operations related to ACE Private Risk Services’ specialized home, auto, recreational marine, valuable collections, and umbrella liability insurance, which are sold through a national network of independent agents and brokers.
He will report jointly to Mary Boyd, division president of ACE Private Risk Services, and Frank Lattal, senior vice president and chief claims officer of ACE Group.
Douglas joined ACE from a national personal insurance carrier, where he served as chief claims officer.
Also based in Salem, VA, Castolene will lead ACE Private Risk Services’ US agency and billing services center, billing department, and ACE’s NewMarkets Insurance Agency. She will report directly to Boyd.
Castolene joined ACE from a national carrier, where she spent the last nine years in a number of senior operational leadership roles.
The international law firm McDermott Will & Emery expanded its global direct investing practice in response to the intensifying trend of high net worth investors opting to make their own wealth decisions.
Matthew Sperry and Matthew McKim – latterly of the law firm DLA Piper - joined McDermott as partners in New York and Chicago, IL.
Janney Montgomery Scott, the wealth management, financial services and investment banking firm headquartered in Philadelphia, PA, hired Richard Baum in Boston, MA, as a financial advisor and senior vice president of investments.
Baum joined Janney from Oppenheimer & Company, where he was a financial advisor for the past eight years.
The international law firm Withers added to its wealth planning team with the hire of George McCormick as a registered foreign lawyer.
McCormick has Bar Licenses in the District of Columbia, Florida and Virginia in the US. Withers said he has a strong background in the fields of tax planning and compliance, as well as US pre-immigration and expatriation.
Most recently, he worked at the Florida Department of Revenue, where he advised legislators and agencies on federal and state tax laws and legislation.
Fiduciary Trust Company International, the global investment management firm, appointed Jeffrey MacDonald as director of fixed income strategies.
MacDonald was previously a managing director and senior portfolio manager, responsible for the development and management of fixed income strategies at Fiduciary Trust.
In his new role, which was previously held by Ronald Sanchez, CIO of Fiduciary Trust, MacDonald is responsible for leading the firm's fixed income effort. In addition to the development of fixed income policy and strategy for the firm, he also oversees Fiduciary Trust’s fixed income professionals and manages client portfolios for individuals, families and institutions.  
Prior to joining Fiduciary Trust in 2013, MacDonald was a senior portfolio manager and head of traditional strategies at Cutwater Asset Management, where he oversaw a team of seven portfolio managers.  
Dynasty Financial Partners hired two new executives: Kara Valentine as director of marketing and Janessa Biller as vice president of relationship management.
Valentine joined Dynasty from US Trust, Bank of America Private Wealth Management, where she was a senior vice president and divisional marketing executive. She will report to Shirl Penney, president and chief executive of Dynasty.
Reporting to Ed Swenson, COO of Dynasty Financial Partners, Biller will provide operational support to the firm’s independent advisors. She joins from Goldman Sachs, where she was vice president of the prime brokerage client services and securities division since 2011.
Bessemer Trust hired Joseph Tanious as principal and investment strategist in Los Angeles, CA.
Tanious will report to Peter Langas, managing director and head of investment strategies.
Prior to joining Bessemer, Tanious was executive director and global market strategist in asset management at JP Morgan, having previously been an associate there. Before that, he was regional director of institutional sales at Wells Fargo Private Wealth Management.
Arizona Bank & Trust named Nancy Tengler as senior vice president and market manager of the firm's wealth advisory services division in Phoenix, AZ.
Tengler starts on December 31, 2014, when Michael McCartney, who currently holds that position, retires.
Tengler, who also serves as a board member for Arizona Bank & Trust, has been “instrumental” in leading the Women’s Financial Forum, the bank’s initiative to assist women in developing a deeper understanding of financial and investment management, the firm said.
In her new role as market manager, Tengler will be responsible for leading the sales team and the wealth management division in Arizona.
Before moving to Phoenix, Tengler was president, chief executive and chief investment officer at Fremont Investment Advisors in San Francisco, CA. Before Fremont, she was president and chief investment officer of Global Alliance Value Investors, where she was the senior member of investment strategies and oversaw the firm’s investment research activity. She also worked at UBS Asset Management as head of the value equities group.
Barclays announced that Akshaya Bhargava is its new chief executive of wealth and investment management, taking up the role on October 13 and filling a slot left by the departure of Peter Horrell, as originally reported in June this year.
Bhargava previously worked at InfraHedge, which he founded in 2010 and was acquired by US-listed State Street at the end of 2013.  Prior to this he was chief executive of Butterfield Fulcrum Group and founding CEO of Infosys BPO.
He spent 22 years at Citibank, leading teams in London, India and the Czech Republic, Barclays said in a statement.
Wellesley Investment Partners, a wholly-owned subsidiary of Wellesley Bank, named Louis Crosier as president.
Crosier was most recently a senior managing director at Windhaven Investment Management, a subsidiary of Charles Schwab. Prior to Windhaven, he was managing principal of Windward Investment Management. Schwab acquired the company’s assets and intellectual property in 2010. Earlier still, he was a vice president in the wealth management division of Goldman Sachs.
Crystal & Company, the risk and insurance advisor, appointed Kathy Hope as a director within its family enterprise risk practice.
Based in New York, Hope will report to Linda Bourn, executive managing director of Crystal & Company's family enterprise risk practice.  
Prior to joining Crystal & Company, Hope served as vice president and national head of client service for Marsh’s family office practice. Prior to Marsh, the global insurance broker and risk advisor, she was vice president of administration at Okabena Company, a private family office founded in 1967.
Jonathan Crystal, executive vice president of Crystal & Company, said the addition of Hope reinforces the firm’s continued devotion to serving family business and family office clients.
Montage Investments, a network of boutique asset managers, hired Michael McKeigue as managing director of the firm’s national accounts team.
McKeigue will be responsible for enhancing account relationships for Montage Investments and its affiliated asset managers.
Prior to joining, McKeigue was a vice president and divisional manager at State Street Global Advisors, where he developed and led a sales team focused on expanding the firm's ultra high net worth investment advisor reach.
Before State Street, McKeigue was a wealth management specialist at Merrill Lynch. He has also worked at Mellon Institutional Asset Management and Dreyfus.  
Boston, MA-based Federal Street Advisors, an independent investment consultant and wealth management firm for individuals, families and non-profit organizations, appointed Eric Godes as chief operating officer and chief wealth advisory officer.
As part of the leadership team Godes joined Kristin Fafard (chief investment officer), who is responsible for the firm's research efforts and investment programs, and Jennifer Murtie (president), who is responsible for overall business operations, strategic planning and marketing.
Godes spent over 21 years at Kobren Insight Management, finishing his time there as president and COO until the firm's sale to E*TRADE Financial in 2011. Adviser Investments subsequently acquired Kobren, at which point Godes served as COO.
Bull Wealth Management broadened its reach in Canada’s hedge fund sector with an acquisition - the terms of which were not disclosed.
The firm acquired Vancouver-based KCS Fund Strategies’ proprietary research database, 12 proprietary hedge fund indices, research reports and algorithms, and a platform to build “institutional quality” alternative portfolios.  
KCS' founder and principal Peter Klein also joined Bull Wealth as a managing partner and chief investment officer. Julian Smith - who has worked at firms including Merrill Lynch, Charles Schwab and Raymond James - also joined as managing partner, chief compliance officer and director.
StreamSong Advisors, a new independent firm, joined LPL Financial's RIA custodial platform.
Based in Grand Rapids, MI, StreamSong – with another office in the Detroit Metropolitan area - has over $1.2 billion in assets under management as of December 31, 2013.
StreamSong comprises two financial advisors, a client portfolio manager and a specialist in financial, tax, business succession and estate planning, as well as two support personnel.
The firm targets clients with $500,000 in investable assets and above, but typically serves high net worth family accounts. Going forward it plans to offer advisory strategies for private clients and ultra high net worth households seeking multi-family office support.
Mandell Crawley, formerly head of national business development and field management at Morgan Stanley Wealth Management, became chief marketing officer of Morgan Stanley.
Crawley filled the role vacated by Susan Smith Ellis, who left the firm in July after nine months, Morgan Stanley confirmed. The firm also said the CMO post was established in October 2013 to help it grow in the retail investor sector.
Jim McCarthy – who most recently served as head of workplace and investment solutions - was tasked with leading a new "solutions delivery organization," reporting to Shelley O’Connor, head of field management, and Andy Saperstein, head of investment products and services.  
The new group will combine the current business development team with the field-facing product specialists within investment products and services - all reporting to McCarthy.
The regional business development managers and the product sales heads continue reporting to their respective regional directors and product heads. All complex business development reporting lines remain the same.
Meanwhile, Barry Goldstein, chief operating officer of field management, will assume additional responsibility for the advisor, trainee and manager development programs as well as strategic partnering and teaming, while continuing to report to O'Connor.
Wells Fargo Advisors made a spate of hires across three states from UBS and Morgan Stanley.
Financial advisors Jon Miller and Doug Kunzman, along with senior registered client associate Tracie Beck, joined Wells Fargo Advisors in Lincoln, NE, from UBS Financial Services. At UBS they managed more than $151 million in combined client assets and brought to WFA a combined 47 years of industry experience.
Meanwhile, William Boatwright and Craig Diamond - of the Boatwright Diamond Wealth Management Group - joined in Woodland Hills, CA, also from UBS Financial Services. Together they previously managed over $259 million in client assets.
Lee Dubinsky joined WFA in Melville, NY, from UBS, where he managed more than $140 million in client assets. He now reports to Long Island market manager Christopher Davis.
Lastly, the advisor team William Peragine and John Biondo stepped into the Melville, NY, office. They most recently managed more than $830 million in combined client assets at Morgan Stanley and also now report to Davis.
US Bank hired David Hein as a portfolio manager at its high net worth Private Client Reserve in Cincinnati.
Hein will provide investment services to help wealthy clients build and maintain wealth.
Prior to joining the PCR, he was an acquisition program manager with the US Air Force, working on the performance of Air Force acquisition programs.
Ross Siegel joined Citi Private Bank as a director and ultra high net worth private banker in Chicago, IL, Family Wealth Report exclusively revealed.
Siegel previously worked at JP Morgan Private Bank, where he was an executive director in Chicago and led a team advising high net worth clients spanning investments, planning, credit, banking and trust services.
Prior to joining JP Morgan in 2009, he spent two years as a financial advisor at Edward Jones. Having started his career as an analyst at Baxter International, Siegel has also held roles at S&S Asset Management and at the business-to-business exchange Transora Corporation.
In his new role at Citi, Siegel will report to Michael Smith, managing director and Midwest regional market manager.
Darrel Hackett took the reins from Terry Jenkins as president of BMO Private Bank, responsible for the performance, strategy and delivery of BMO Financial Group’s personal wealth management businesses throughout the US.
Based in Chicago, IL, Hackett will also develop new products and solutions for all business segments within BMO Private Bank.
Hackett has served in retail, commercial and wealth leadership roles since joining BMO in 2004 - most recently as senior vice president and head of North American integrated channels.
He has also led BMO Harris Bank’s US business banking operations and served as a regional president for the retail operation in Chicago.
In his initial role at BMO, he was vice president of acquisition, integration and alignment. Before joining BMO, he was a management consultant at McKinsey & Company in Chicago. He has also held management roles at General Electric Company.
BNY Mellon Wealth Management hired Gary Cindrich as director for business development in in Pittsburgh, PA, reporting to managing director Scott Cox.
Cindrich’s hire was part of a firm-wide growth strategy focused on expanding the BNY Mellon sales teams in key wealth markets. In Pittsburgh, the firm expects to add two more wealth director positions by end-2014.
Cindrich was latterly partner and senior vice president of sales at Virtual Officeware, a medical software company he founded and sold.
Mariner Wealth Advisors appointed senior wealth advisors Sarah Tiedt, Mark Vlasic and Jeff Maher in Leawood, KS.
Tiedt joined from the Private Client Reserve of US Bank, where she was a wealth management advisor and vice president. She has also worked as a trust officer at Commerce Trust Company and Blue Ridge Bank and Trust.
Meanwhile, Vlasic was previously a director at McGladrey Wealth Management. He has also held roles at Enterprise Trust and UMB Bank. Prior to joining the financial services industry, Vlasic spent seven years as an NFL quarterback.
Lastly, Maher joined from MFS Fund Distributors, where he was a regional director. Prior to that, he was regional vice president at MetLife Investors.
San Diego, CA-based Washington Wealth Management, an independent RIA supporting US fee- and commission-based independent advisor practices, brought in Craig Martucci and Todd Adams from RBC Wealth Management.
Adams and Martucci have over 40 years of combined experience and managed approximately $220 million in AuM upon joining WWM. Their practice, Martucci Adams Wealth Advisors, has affiliated with WWM as an independent practice in Salt Lake City, UT.
Martucci Adams Wealth Advisors serves high net worth individuals, families and businesses in the western US. The firm specializes in converting wealth into retirement income for clients, along with estate planning and advising on company-sponsored retirement plans.
California Bank & Trust promoted Tory Nixon to head of the bank’s Northern California division.
The firm said Nixon will also maintain his role as head of the bank’s San Diego, CA, division.
As leader of the Northern California unit, Nixon will oversee business banking centers in San Francisco, the East Bay, Palo Alto, Fresno and Sacramento, along with 15 community branches throughout the region. He will also serve as a member of the bank’s board of directors and executive management committee.
CNB Bank promoted James Davidson to assistant vice president of private banking – a new division at the firm.
Davidson began his career with CNB in 2003 as a management trainee and has since served as community office manager, mortgage lending officer, mortgage underwriter and banking officer.
CNB's new private banking division will offer “enhanced customization and personal service to CNB’s exclusive clientele,” the firm said.
Davidson is based in Clearfield, PA.
California-based City National Bank, the private and business banking firm, brought in two advisors to grow the bank’s presence in Palo Alto.
City National hired James Bourque as a vice president and senior private client advisor, and Carine Krikorian as vice president and senior private banker. The pair will advise clients in the technology and venture capital industries.
City National’s Palo Alto office now has 16 colleagues, double the amount from a year ago, it said.
Bourque has nearly 20 years of experience managing assets for high net worth clients and serving technology executives and family offices. He most recently worked at BNY Mellon as a senior director in San Francisco. Prior to that, he spent 17 years at Morgan Stanley in the private wealth management division.
Krikorian was previously a private banker at Union Bank, as well as having worked at Merrill Lynch and Bank of America.
RBC Wealth Management hired Charles Pisoni as a senior vice president and financial advisor in Scottsdale, AZ.
Pisoni joined RBC Wealth Management from Merrill Lynch with 27 years of industry experience.
He has assets under management of more than $250 million and $1.5 million in production. Also joining RBC with Pisoni was Debbie Papa, senior client associate.
“RBC Wealth Management is very committed to growing our US presence and building out our footprint in Arizona” said Tim Rannow, Phoenix complex director.   
US Bank's high net worth arm, the Private Client Reserve, made four hires in Chicago, IL.
Debora Oberling was appointed as a wealth management advisor and team leader, joining from JP Morgan where she was a managing director and market manager for the private bank in Chicago.
Nancy Brackmann joined as a senior trust officer – a role in which she will administer the trusts of high net worth clients.
Meanwhile, Steven Greene became a wealth management advisor at the PCR, having previously worked at Rappaport Reiches Capital Management. In that role, he provided financial advisory services to high net worth clients including individuals, families, foundations and non-profit organizations.
Lastly, Teresa Seiwert was hired as a wealth management advisor. She was latterly a vice president and private client relationship manager at US Bank.
The global executive search firm Sheffield Haworth, which focuses on the financial services sector, brought in Robert Sloan as managing director and head of the Americas executive talent advisory practice.  
In this newly-created role, Sloan will help the firm expand its offerings to include talent management services encompassing executive benchmarking, assessment, succession planning and team effectiveness consulting.
Sloan has a strong background advising CEOs and senior executives in the financial services and industrial sectors, specializing in executive and team assessment, and senior-level recruiting activities.
He was latterly a partner at Egon Zehnder, where for a term he led the US financial services practice and was also responsible for several of the firm's US and global relationships.
Lebenthal Wealth Advisors, the wealth management division of Lebenthal Holdings, hired Michael Burton as relationship director at the firm’s Gallaway Stern Group in Bridgehampton, NY.
Burton has held a number of positions in wealth management, most recently at Evercore Wealth Management and Bank of America’s US Trust division.  
Clarien Bank appointed Ronaldo Veirano to its board of directors, charged with advising the bank on its strategic expansion into Latin America.
The move was part of the firm's aim to offer an expanded range of products and solutions in corporate and investment banking, wealth and asset management clients globally.  
Veirano was a founding partner of the Brazilian law firm Veirano Advogados and is currently a member of the executive committee of the Brazil-China Business Council and the US Business Council.
“Over the last two decades there has been a positive change in the LatAm market,” Veirano said. “The rapid rise of entrepreneurs and ultra high net worth individuals has resulted in a greater demand for sophisticated wealth management, corporate banking and investment services.”
He added: “Brazil alone presents a particularly strong opportunity. Not only will it be the world’s fourth largest economy by 2030, but at present there are more than 200 high net worth individual’s worth over $500 million dollars residing there.”
Veirano joined three presiding board members: Buford Alexander, Michael Quinn and Gregory Slayton, who add to the management team of local board directors James Macdonald, James Gibbons, Hal Masters and Andrew Parsons. Keith Stock also remains as chairman of the board representing Clarien Group.
US-based Foundation Source, which serves private foundations, appointed Joshua Stamer as a managing director for its national business development team.
Based outside of Los Angeles, CA, Stamer will focus on Southern California, working with wealth managers, financial advisors, attorneys and donors who either have or are interested in establishing a private foundation.
Stamer reports to Foundation Source's president, Salvatore Bucci.
Stamer was latterly western regional sales director at Workiva, formerly WebFilings. There, he onboarded and developed client partnerships with large US banks, insurance companies and mutual and hedge fund organizations.
“California is one of this nation's wealthiest and fastest-growing philanthropic markets,” said Stamer. “It is home to numerous high net worth individuals who want the level of control and flexibility that private foundations offer.”

Janney Montgomery Scott promoted Kevin Reed to senior vice president and head of wealth management, replacing David Penn, who became a senior vice president of wealth management and financial advisor in Bryn Mawr, PA.
Reed was most recently managing director of taxable fixed income at Janney, responsible for the firm’s retail and institutional taxable trading and sales businesses as well as fixed income research and strategy.
Reed joined Janney in 2007 from the Radian Group, where he was responsible for credit research and portfolio management for Radian’s $5 billion investment portfolio. Previous experience includes roles in firms including LPL Financial, AIG Advisor Group and Fiserv Securities.
Rockefeller & Co brought in Charles Willauer as a senior vice president working with high net worth families and institutions in Boston, MA.
Willauer was latterly a senior managing director at Windhaven Investment Management, where in addition to advising private clients and institutions he managed the firm’s relationship management group.  
As principal at Windhaven’s predecessor company, Windward Investment Management, Willauer served on the investment committee and worked with institutional and family clients. He has also held business development positions at Fleet Boston Financial, TrueBridge Financial and Separation Technologies.
New York City-headquartered ARK Investment Management, a registered investment advisor and privately-held investment firm focused on thematic investing, appointed Jane Kanter as chief operating officer.
Kanter joined ARK from the international law firm Dechert, where she worked for 17 years as a senior partner in the firm's financial services group.
She has also served as vice president and legal counsel at T Rowe Price and worked within the SEC's investment management division.
Overall, Kanter has 30 years of experience advising investment companies, investment advisors, fund boards and broker-dealers. Over the past decade she has focused her practice on exchange-traded funds, private funds and transactional work involving financial service firms.
RBC Wealth Management hired Jesse Bengtson as senior vice president and financial advisor in Stillwater, MN.
Bengtson joined RBC Wealth Management from Merrill Lynch with 16 years of industry experience.  He has assets under management of more than $230 million and $3.5 million in production.
Tiedemann Wealth Management appointed Ethan Doyle as senior vice president and a member of the firm’s investment team in San Francisco, CA.
As well as focusing on all areas of the firm’s investment process, Doyle will develop client relationships on the West Coast.
He joined from RDG Capital Management, which he co-founded in 2009 and was latterly managing partner. Before RDG, Doyle held leadership and analyst roles at GCA Savvian Group, Skiritai Capital and Robertson Stephens & Company.
Atlanta, GA-based Berman Capital Advisors, the ultra high net worth wealth management firm, appointed Russ Allen as chief investment officer.
Allen’s responsibilities include asset allocation, manager research, and the development and implementation of the firm’s investment views.
Allen joined Berman Capital from Balentine, where he was director of investment research. Prior to Balentine, he was a portfolio manager and senior equity research analyst at Globalt Investments.
Allen has also served as an intelligence analyst for the National Security Agency.
Separately, Berman Capital also brought in Wen Tang as a relationship manager. Tang was previously a client strategies and portfolio solutions analyst at AQR Capital Management. Prior to AQR, Tang worked in the private wealth management division at Morgan Stanley Smith Barney in New York.
Laura Peterson was appointed as managing director of client experience for Ascent Private Capital Management, the ultra high net worth unit of US Bank, in Denver, CO.
As a managing director of client experience, Peterson and her team ensure that the services provided by Ascent’s Denver office meet and exceed client expectations, US Bank said. She is supported by a national advisory team that provides wealth impact planning, investment consulting, private banking, family office advisory services and a variety of other client services in the Denver area.
Peterson reports to Paul Ferguson, regional managing director of Ascent's Denver office.
Prior to joining US Bank, Peterson managed client relationships for ultra high net worth individuals at Citi Private Bank.
Bessemer Trust added Lucelly Dueñas to its legacy planning team in Miami, FL.
Dueñas was appointed as senior vice president and associate fiduciary counsel, reporting to Mark Parthemer, managing director and senior fiduciary counsel for the Southeast region.
She will advise domestic and international ultra high net worth families, focused on cross-border and international matters related to legacy planning, family governance, tax minimization strategies and the implementation of estate plans.
Before joining Bessemer, Dueñas was a wealth advisor at JP Morgan Private Bank, working with high and ultra high net worth Latin American families. Previously, she was an associate at the law firms Guttenmacher & Bohatch and Stephen A Taylor.
Citigroup said Peter Charrington was named as global head of Citi Private Bank, having most recently been the head of its North America business.
He took the helm from Mark Mason, who was recently named chief financial officer for Citi's Institutional Clients Group.
Oregon-headquartered Aequitas Capital, an alternative asset management firm, hired Thomas Goila as senior managing director of private credit and private equity.
In this new role, Goila will find transactions that offer “attractive risk-adjusted returns for Aequitas,” doing so through numerous channels and funded via Aequitas in partnership with other capital partners and clients.
He spent the past nine years at Goldman Sachs and Co as a senior investment professional in the special situations group, specializing in middle-market investments worth $20 million-$200 million.
Goila will report to Aequitas' chief executive Robert Jesenik and work alongside Jason MacRae, senior managing director of the specialty finance group.
MacRae joined Aequitas earlier this year as part of the firm's acquisition of Maple Bay Asset Management, where he was co-founder and CEO.
Goila will also work with Craig Froude, managing principal of Aequitas' private equity practice.
Concord, CA-based investment and consulting solutions provider AssetMark appointed Jerry Chafkin as chief investment officer - a new role at the firm.
He will report to chief executive Charles Goldman.
In his new role, Chafkin will be responsible for designing, enhancing and managing the company’s investment solutions framework and providing investment and market perspectives to advisors and their clients, AssetMark said in a statement. He will also oversee all proprietary investment strategies, including those of Savos Investments.
Mike Abelson, formerly the firm’s head of investment and product management, also took on a new role as EVP, corporate development.
Chafkin has over 25 years of experience in investment management, most recently as a portfolio manager and CEO at AlphaSimplex Group, a liquid alternative asset management specialist in Cambridge, MA.  Before this, he was CEO at IXIS Asset Management in Boston, MA, and spent nearly a decade at Charles Schwab in a range of leadership roles, including CEO of the asset management division. He has also held a variety of senior positions at Bankers Trust Company and managed portfolios for large institutional investors.
New kid on the block Cantor Fitzgerald Wealth Partners made an “aggressive” expansion of its advisory team a priority with the hire of two senior recruitment specialists.
Joining the 18-month-old firm were Jack Mounts as managing director and head of recruiting and Michael Lonk as vice president and senior recruiter.
The pair will continue the firm’s expansion plans put in place from its inception, helping to bring “high-caliber team members” to CFWP. The pair will report to Scott Hotham, executive vice president and head of US private wealth management sales.
Both Mounts and Lonk moved from Merrill Lynch; Mounts was latterly director of recruiting in the Southeast, South Atlantic and Pacific West markets while Lonk served as a recruiter.
Mounts spent the past 21 years at Merrill Lynch, and prior to this held various posts at Prudential Securities. During his career he has also been a financial advisor, manager and recruiting director.
Forming part of his 33 years in the industry, Lonk previously had spells in advisory roles at Merrill Lynch, Morgan Stanley Dean Witter and Raymond James Advisors.
First Foundation strengthened its hand in Las Vegas, NV, making three hires across its advisory and banking divisions.
Cathy McCaw was named managing director of subsidiary First Foundation Advisors, reporting to the firm’s president, John Hakopian.
McCaw will help the firm grow its footprint and provide an integrated client experience in the Las Vegas area. The firm first laid its foundations in Las Vegas a year and a half ago and is currently a “priority growth market” for First Foundation.
Over her career McCaw has served wealthy entrepreneurs and families, most recently at Bank of America/US Trust. Here she was senior vice president for nearly 15 years in the firm’s private banking arm, where she developed and managed ultra high net worth client relationships, as well as attracting and retaining new clientele.
Also joining First Foundation in Las Vegas were Cheyanne Ivey and Carla Jewell, posted in its First Foundation Bank subsidiary.
Ivey became a private banker in the firm’s trust arm, moving from Wells Fargo where she was a trust officer. She also previously held the role of international tax and business consultant for the Esquire Group.
Jewell was latterly vice president/senior real estate loan officer for the Bank of Nevada, having spent 15 years in the banking industry.
Both Ivey and Jewell report to David Rahn, First Foundation Bank’s president.

An executive vice president for investments was appointed to Janney Montgomery Scott's office in New York City.
Michael Coraggio will help to provide investment solutions for clients, building on his fixed-income background.
He left his post as senior managing director at BB&T Scott & Stringfellow, which he first took up in 2006.
Morgan Stanley made three hires in the Northwest, with a combined total of $1.275 billion in prior assets.
Leaving Merrill Lynch to join Morgan Stanley’s office in Northfield, NJ, was a team comprised of Michael Torpey and Charles Malamut.
Torpey previously served as a senior financial advisor at Merrill Lynch and became an associate vice president at Morgan Stanley. Prior to his transition, Malamut was a senior vice president and financial advisor at Merrill Lynch.
The team had a production of $3.477 million and prior assets of $1.1 billion.
Also joining Morgan Stanley was Jon Garofalo in Westport, CT. Garofalo was latterly of JP Morgan Chase, where he held the post of vice president, private client advisor.
Prior to leaving JP Morgan Chase, Garofalo had a production of $1.5 million and prior assets of $175 million. He reports to Patrick Tiani, branch manager in Westport.
BNP Paribas subsidiary Bank of the West  promoted its senior vice president to the position of chief investment advisor as the firm looks to further its global wealth management footprint.
As part of BNP Paribas’ global offering, Wade Balliet joined a network of its senior representatives to help provide a global vision for the firm’s asset allocation programs.
BBVA Compass appointed a new head of asset management and trust at its global wealth unit.
Based in Houston, TX, Maria Holmes will also lead BBVA Securities’ registered investment advisor program, which the firm is looking to strengthen.
Within the firm’s global wealth unit, Holmes will head the firm’s trading activities; investment operations; risk management; and product development teams.
Holmes has been in the industry for over 14 years, specifically focussing on insurance, investment and advisory services. She previously served as national sales director for Santander’s US securities business. Prior to this, she directed wealth management teams and programs at Citi and Fifth Third Bank.
Holmes inherits an investment platform that helps clients build, protect and share wealth via dedicated portfolio management, tax efficient trading, and an in-house fixed income team and trust system.
The investment management solutions firm SimCorp appointed a new managing director of its North American operations.
James Corrigan stepped into the role, replacing David Kubersky.
Corrigan will help SimCorp to strengthen its offering in the US and Canada, as well as continuing to support the firm’s current users.
Corrigan previously worked at SunGard Financial Systems, where he most recently served as executive vice president of capital markets and global trading. He also held a host of managerial positions at SunGard over the past seven years. Earlier in his career, he also held leadership positions at Navigant Consulting and Headstrong Consulting.
First Rate, which provides performance measurement and client reporting solutions for the financial services industry, named Patrick Flaherty as general manager of the ARKON Wealth Management Platform.
He will oversee operations of the ARKON business unit including developing and maintaining client and partner relationships, the Arlington, TX-based firm said.
ARKON is described by the firm as a “comprehensive and robust wealth management platform enabling wealth managers to master their workflow and optimize client relationships”. The solution combines CRM, investment performance measurement, client reporting, fee management and portfolio oversight on a single platform.
Baird, the US wealth management house, added James McGuire as a senior vice president and branch manager at its Philadelphia wealth management office.
With more than 20 years of experience in the sector, McGuire previously worked at Wells Fargo; he was also with the former AG Edwards and Wachovia Securities firms. As well as running the office, he will also advise clients.
Also joining Baird was Christopher Coburn as senior vice president, financial advisor, in the firm’s Denver wealth management office. Coburn joined from RBC Capital Markets, where he had been a financial advisor since 2005. He has approximately $150 million in assets under management.
The TCW Group, the global asset management firm, appointed Ray Prasad as an emerging markets portfolio manager, based in the firm’s New York office.
He joined portfolio managers Penny Foley and David Robbins in running the TCW Worldwide Opportunities strategy, which has run since 1987, and the TCW Emerging Markets Multi-Asset Opportunities Fund, a parallel mutual fund vehicle that was launched last year.
Prasad was most recently director and senior portfolio manager for emerging markets equities at Batterymarch Financial Management, where he planned and managed the investment process and co-led the emerging markets team, which managed approximately $12 billion in assets at its peak.
The HighTower Partnership transitioned its 46th team with the addition of Wolf-Collins Wealth Management in New Jersey.
Headed by William Wolf and Ethan Collins, both became partners in Red Bank, NJ. Wolf-Collins has $440 million in assets.
Under HighTower, Wolf-Collins Wealth Management will be provided with resources to grow its practice by means such as a technology platform and financial products.
The team moved from Merrill Lynch where it was part of the Barth/Wolf/Collins group.  Here Wolf served as senior vice president of wealth management and as a portfolio manager in the personal investment advisory program; Collins was vice president and wealth management advisor.
Heartland Financial USA, a NASDAQ-listed firm, appointed Kelly Johnson to the newly-created position of executive vice president for private client services.
Johnson has more than 25 years of experience in the financial services industry. Most recently, he served as executive vice president of wealth management at Umpqua Holdings, a $22 billion bank holding company headquartered in Portland, Oregon.
His experience includes executive positions with RBC Wealth Management (formerly Dain Rauscher) in Oregon, Iowa and Minnesota and with UBS Wealth Management (formerly Paine Webber) in Minnesota.
In his new role, he reports to Douglas Horstmann, Heartland executive vice president and president and chief executive of Dubuque Bank and Trust Company. Johnson is responsible for leading the company’s wealth management, investment services, insurance services and private banking divisions at all Heartland subsidiary banks.

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