People Moves

Summary Of Executive Moves In North America Wealth Management - August 2019

Editorial Staff September 30, 2019

Summary Of Executive Moves In North America Wealth Management - August 2019

August proved to be a brisk month for wealth management moves, even though it is a vacation month.


Temenos, the banking software company, appointed Thomas E Hogan as president of Temenos North America. He is chairman and CEO of Kony, the digital banking software-as-a-service firm recently bought by Temenos. Hogan reports to Max Chuard, CEO of Temenos. He has served as the chairman and CEO of Kony since 2014. Prior to Kony, he held leadership positions at Hewlett Packard, IBM, Siebel and was the CEO of publicly-held Vignette from 2001 to 2006. Other Temenos hires in North America, who report to Hogan are: Emily Steele - executive vice president, field operations and delivery for Temenos North America. Steele joined Temenos in 2015 by way of the company’s acquisition of Akcelerant and has been in a number of key roles. 

Jeffery Kendall – executive vice president, North America sales and distribution. Previously, Kendall was executive vice president and general manager of banking at Kony.  

Northwestern Mutual appointed two senior figures to join its wealth management and broker/dealer organizations. Evamarie Schoenborn was named president of Northwestern Mutual Wealth Management Company. Schoenborn is accountable for the overall business strategy for Northwestern Mutual's retail investment products and services, and regulatory strategy for NMWMC, including management of the NMWMC Board. Schoenborn assumed the new role from Christian Mitchell, executive vice president and chief customer officer. 

Prior to joining Northwestern Mutual in December 2017, Schoenborn was vice president, wealth management at the second largest independent broker dealer in the industry, where her experience spanned products, operations, and regulatory strategy for multiple product lines. (According to her Linkedin profile, Schoenborn previously worked at Ameriprise Financial Services for more than 13 years, most recently as vice president, wealth management.)

Lori Brissette was named president of Northwestern Mutual Investment Services, a role previously held by Schoenborn. Brissette assumed regulatory and supervisory responsibility for Northwestern Mutual's broker-dealer, as well as leadership of the Northwestern Mutual Investment Services Board. Brissette joined Northwestern Mutual in January 2018, and serves as vice president of risk and investment client services. She previously held various leadership positions at USAA, most recently as assistant vice president, USAA protection experience.

iCapital Network, the financial technology platform for alternative investing, added four senior figures to its executive team. Michael Kushner, chief financial officer; Jennifer Ashley, chief people officer; Diane Frankenfield, chief marketing officer; and Stephen Jacobs, general counsel, joined the firm. Kushner joined as managing director and CFO. Kushner is responsible for the financial reporting, budgeting, capital and shareholder management, treasury, controllers, and tax functions. Prior to joining iCapital, Kushner was with JP Morgan, for nearly 19 years, where he served in multiple senior finance and risk management positions, most recently as the CFO for risk management and finance. Kushner was also with Credit Suisse for three years.

Ashley joined as MD. Prior to joining, Ashley was the global human resources leader for CBRE, the commercial real estate services and investment firm. She worked at that firm for 15 years, holding various leadership positions in HR, marketing, and sales and strategy. Before joining CBRE, Ashley spent four years in the aviation industry. Frankenfield joined as MD, where she is responsible for the strategic direction and execution of all global marketing activities including brand, advertising, PR, creative, digital, channel marketing, content development, social media, research and business analytics. Prior to joining, Frankenfield was MD, head of US marketing at Legg Mason, and senior vice president and head of marketing at Oppenheimer Funds.

Jacobs, named MD, was previously partner and co-chair of the corporate department at Herrick, Feinstein LLP. Prior to joining Herrick, he served as COO, general counsel and chief compliance officer at Spectrum Group Management, a distressed credit and real estate-focused hedge fund and private equity fund.

Argent Financial Group, the fiduciary wealth management firm, announced that Linde Murphy, managing director with Argent Retirement Plan Advisors, had been elected to the board of governors of Small Firm Seat for the Financial Industry Regulatory Authority (FINRA). Murphy serves a three-year term for FINRA, a not-for-profit organization dedicated to investor protection that regulates how brokerage firms conduct business with the public in the US.

Raymond James appointed Ari Litvin to join its employee advisor broker/dealer – in Denver, Colorado. Litvin manages the Denver complex, which includes three branches in Denver, two branches in Boulder, and a branch in Fort Collins. He joined from Wells Fargo. Litvin is a graduate of the University of Colorado at Boulder; he has the Chartered Financial Consultant® (ChFC®) designation, and is a graduate of the American College Certified Financial Planner Program. He has spent the last 11 years with Wells Fargo, most recently as its managing director and complex manager of the mid-south complex responsible for 95 financial advisors across 13 branches in western Tennessee, Mississippi and northern Louisiana.

Raymond James brought over advisors Michael Fowler, Wayne Creef, and Jennifer Anders to its employee advisor broker/dealer. They operate from Virginia Beach, Virginia and manage about $260 million client assets. The advisors joined Raymond James from Merrill Lynch where they had about $1.85 million in annual production. The team operates as Even Keel Wealth Advisors of Raymond James. 

The firm welcomed advisors René Dierkes and Frank McKenna to Raymond James & Associates, in Morristown, New Jersey. Dierkes and McKenna operate as The Dierkes Group of Raymond James and joined RJA from Morgan Stanley, where they previously managed $260 million in client assets. The Morristown office is managed by John Pascarella and is part of the Northern New Jersey Complex led by Chris Leavy. Dierkes has been in the investment industry for more than 30 years, and is a graduate of Seton Hall University. He joined Legg Mason in 1990. McKenna spent almost 20 years at Legg Mason and Morgan Stanley. He is also a graduate of Seton Hall University, which is where he and Dierkes met as freshman in 1983, Raymond James said.

Raymond James brought over advisors Matthew T Pruitt and Matthew J Fisher to its employee advisor broker/dealer in Doylestown, Pennsylvania. Prior to this, the advisors worked at Morgan Stanley, where they previously managed about $252 million in client assets. The team operates as Patriot Wealth Management of Raymond James. Their firm’s name stems from the fact that both men served in the military. Also joining were Louise A Clauso, senior financial planning consultant, and Dale A Hoernlein, senior registered service associate.

Summit Trail Advisors appointed two figures - Jonathan D Williams and Kevin C Curtis – as partners to open a new office in Harrisburg, Pennsylvania. Williams, Curtis, and their team previously worked at Wilmington Trust where they managed more than $1.5 billion in client assets. The two men work with entrepreneurs in the mid-Atlantic region and across the US. Williams has more than 14 years’ experience in the wealth management industry having worked at UBS and M&T Bank before merging with Wilmington Trust in 2011. As a senior wealth advisor, he advised a small group of UHNW clients with a focus on private business owners, public company executives, and entrepreneurs. Curtis has more than 25 years’ experience in the wealth management industry having worked at M&T Bank before merging with Wilmington Trust in 2011.

Glenmede, the Philadelphia-based wealth management firm, elected Arlene M Yocum to join its board of directors, taking the number to 14. Yocum has decades of experience in financial and legal services and brings a fiduciary background to Glenmede’s board. Most recently, she served as executive vice president in PNC Bank’s Asset Management Group, from which she retired in 2017 following a 27-year career at the firm. Prior to PNC Bank, Ms Yocum was legal counsel for Fidelity Bank (now Wells Fargo) and in private practice with the law firm Blank Rome LLP.

Bank Leumi, the Israel-based banking group with subsidiaries in countries including the US and UK, appointed Hanan Friedman as its new president and chief executive. Friedman took over from Rakefet Russak Aminoach, who had served in the roles since May 2012. Friedman joined Leumi more than five years ago, first serving as Leumi's chief legal counsel, and later as head of the strategy, innovation, and transformation division. He led several programs at the bank such as the introduction of strategic partners into Bank Leumi USA, the sale of Leumi Card and the sale of Leumi Romania.

Marc Bell Capital, a family office based in Boca Raton, Florida, appointed Katya Fisher as advisor. Fisher is a subject matter expert and frequent speaker and media commentator on blockchain, technology, and law. She represents clients on the regulatory landscape for digital assets, including but not limited to AML/KYC compliance, investor due diligence and token offerings.

Farm Bureau Financial Services appointed Ann Frigon as a wealth management advisor. She brought more than $100 million in assets under management. Prior to joining the company, Frigon worked at Carson Wealth Management as a wealth advisor in Western Kansas. Frigon is a Certified Financial Planner™ (CFP) with a law degree (JD) and a masters in tax law (LLM). 

Vestmark, a firm providing a software-as-a-service platform for financial firms, appointed Ben Miele as executive vice president of global sales. Miele is part of the Vestmark executive team and leads business development efforts, taking responsibility for all sales strategy and execution. Miele has previously had various sales leadership roles during his 12-year tenure at Globoforce/Workhuman, a social recognition and continuous performance management platform. 

The chairman of alternative investment platform Artivest, Martin Beaulieu, was named CEO. He works alongside James Waldinger, president and founder. Prior to his most recent role, Beaulieu was head of retail Retail iShares US at BlackRock, where he led all domestic iShares distribution. He was previously vice chairman and head of global distribution at MFS Investment Management.

Heritage Trust appointed Michael Romero as vice president and relationship manager in the Oklahoma City office to work across a variety of client areas, including trusts, probate, and estate planning and administration. Romero joined having had nearly two decades of experience at the Baptist Foundation of Oklahoma, where he was most recently senior vice president and chief development officer.

Strategic Wealth Partners Group, a wealth management house based in the Chicago and Milwaukee areas, appointed Kirk Hackbarth, Andrew Cohn, and Joseph Thompson to join its team. Hackbarth and Thompson joined William Perry and Kathleen Dougherty-Klein in the Milwaukee office. Hackbarth serves as a wealth advisor and has over 25 years of experience in the financial services industry. Thompson joined the Milwaukee team as a wealth associate and has been in the industry since 2014. The addition of Hackbarth and Thompson is part of the firm’s strategic plan to increase its capacity as a premier provider of wealth management services throughout Wisconsin.

Cohn joined the firm’s Deerfield office and serves as a retirement plan advisor. He specializes in helping retirement plan sponsors navigate the often complex nature of administering their plans.

Bryn Mawr Trust, which is wholly owned by US-listed Bryn Mawr Bank Corp, appointed Edward Garris as a vice president and wealth advisor. He reports to Mark Bradford, senior vice president and wealth director. Garris works from the Berwyn, Pennsylvania Wealth Management office.

Prior to this role, Garris worked at Wells Fargo, where he spent five years advising high net worth clients on tax, business succession, asset protection, estate planning, and charitable giving. Previously, he was an associate attorney for Eccles & McIntosh, PC, where he provided advice and legal counsel to tax-exempt organizations, small to mid-size businesses, and individuals and families. Garris graduated from the University of Texas at Austin and holds a JD from Chicago-Kent College of Law at Illinois Institute of Technology. He has finished coursework qualifying him to become a Certified Financial PlannerTM (CFP®).

Fiduciary Trust of New England, a New Hampshire-chartered trust company, appointed Katey Datillo as vice president and trust officer. Datillo joined Fiduciary Trust from State Street where she was a manager and trust officer responsible for administering all the bank’s personal trust accounts and overseeing relationships with independent investment advisors. She was previously at Investors Bank & Trust Company before it was acquired by State Street. Earlier in her career, she served in trust and estate administration positions at US Trust, Citibank, and Princeton Bank and Trust.

EisnerAmper hired David A Goldstein as a director of business development for its financial services group. Goldstein has more than 20 years of experience in business development, relationship management and fund operations. Having worked with an array of financial services organizations, Goldstein’s expertise includes fund structuring, jurisdictions, regulations, service models and strategies. He has also worked with start-up firms through multi-billion-dollar money managers with their operational needs.

Cornerstone Capital Group, an SEC-registered investment advisor based in New York, appointed Brenda Boone to its board of directors. Boone has more than two decades of business experience. Boone founded and was chief executive of Human Solutions, a human engineering company that bid and won large-scale federal contracts with the Federal Aviation Administration and NASA, where she helped modernize the National Airspace System by using human-centered designs to build and implement air traffic control programs as well as systems for the cockpit. She has also supported women’s and children’s rights and established the Brenda Boone Hope Center in 2007 (now Ripples International) in Kenya.

Geller Advisors brought in two executives to build out its business divisions. Scott Bush was named as head of client development and experience, leading teams to develop markets in the Midwest and Florida, and Mark Rubin was named head of tax. Previously, Bush was a managing director at JP Morgan Asset Management. Before joining JP Morgan, Bush worked as founder and partner of the private equity firm WhiteHawk Capital. Prior to WhiteHawk he spent eight years at Maritz where he worked in various roles, including CEO of the Maritz Performance Improvement Company. He also served as CEO of Trans World Express and head of global sales at Trans World Airlines.

Rubin joined Geller from FTI Consulting where he was a senior MD, leading the family enterprise services practice and the private client tax group for the real estate solutions practice. He was a founding partner of Relative Solutions, a family enterprise consulting firm, where he developed a model for working with families who own and manage substantial assets, including operating companies, real estate, investments and foundations.  

The private banking arm of Nevada State Bank hired Margie Berglund as operations officer for the Reno Private Bank. Berglund has 39 years’ experience in the financial industry. Berglund is a past member of the board of directors for Washoe County Safe Kids and a member of the Veterans of Foreign Wars Ladies Auxiliary.

LPL Financial made the following announcements:

Advisors Barry Rucks and Matt Silverhardt of Barry A Rucks & Associates, joined LPL Financial’s broker-dealer and corporate registered investment advisor platforms. Rucks and Silverhardt reported having served approximately $225 million of client brokerage and advisory assets and join from Ameriprise Financial Services. Rucks, a financial advisor with over 25 years of experience, and Silverhardt began working together in 2008. Their firm is based in Philadelphia, LPL Financial said.

LPL Financial brought over advisors Brian Kasteler, Joseph Taylor, Nathan Woodward, Jorge Becerra, Michael Donaldson and Patrick Latimer of Intermountain Financial Partners. Intermountain reported that its advisors served about $700 million of client brokerage, advisory and retirement plan assets. They join from MML Investors Services. Taylor and Woodward’s mentor, James Woodward, a financial professional with a career that spans over 45 years, founded the Salt Lake City-based firm which serves high net worth professionals, retirees, business owners, qualified retirement plans and entrepreneurs. The group is supported administratively by Jenna Rosa, Erica Spencer, Colton Kasteler, Haley Glenn and Lisa Becerra.

Advisors Shawn Peroff and Matt Tollett of Inland Empire Financial joined its broker-dealer and corporate registered investment advisor (RIA) platforms. The advisors reported having served about $150 million of client brokerage and advisory assets. Peroff joined from Raymond James Financial Services and Tollett joined from Wells Fargo Clearing Services. The duo initially worked at Merrill Lynch more than 20 years ago, but their career paths took them separate ways - Peroff to the independent channel and Tollett remaining with full service-brokerage firms. They have launched Inland Empire Financial.

LPL Financial brought over financial advisors Casey Craig, PJ Horan, Michael Glassman, Mariah Lightfoot, David Vang and Allen Haney of Highlander Financial Group to its broker-dealer and corporate registered investment advisor platforms. Highlander's advisors, who serve about $240 million of client brokerage and advisory assets, joined from MML Investors Services.

LPL Financial embraced advisor Roy Fakoury CFP® CAP® AEP®, managing principal of Lumen Financial Planning and Wealth Management. Fakoury reported having managed approximately $145 million of client brokerage, advisory and retirement plan assets. He joined from Wells Fargo Advisors Financial Network. His firm is based in Camden, South Carolina. He works with Elizabeth B Triplett, registered client relationship manager and Sheila J Couch, client service associate.

LPL Financial snapped up another wealth advisor for its broker-dealer and RIA platforms, embracing advisor Roy Fakoury CFP® CAP® AEP®, managing principal of Lumen Financial Planning and Wealth Management.

Fakoury reported having managed approximately $145 million of client brokerage, advisory and retirement plan assets. He joins from Wells Fargo Advisors Financial Network. His firm is based in Camden, South Carolina. He works with Elizabeth B Triplett, registered client relationship manager and Sheila J Couch, client service associate.

The firm welcomed financial advisors Joey Price and Mary Ellen Holder to its broker-dealer and corporate registered investment advisor platforms. The advisors reported having managed about $140 million of client brokerage, advisory and retirement plan assets. They joined from Wells Fargo Advisors Financial Network.

Register for FamilyWealthReport today

Gain access to regular and exclusive research on the global wealth management sector along with the opportunity to attend industry events such as exclusive invites to Breakfast Briefings and Summits in the major wealth management centres and industry leading awards programmes