Here is a roundup of two weeks of moves in North America, with Merrill Lynch and Raymond James proving to be particularly active over the period for news.

Penn Capital Management Company appointed Stacey Kerelska as a research analyst to its investment team. Kerelska joined Penn Capital in 2017. Her primary areas of sector coverage are metals and mining, chemicals, airlines, shipping, and building materials. Prior to Penn Capital, she served as an associate director at UBS, the Swiss bank, focusing on the aerospace and defense, airlines and aircraft leasing. She was also previously a senior research associate at Macquarie Group and held positions at Enso Capital Management (NY), Investcorp International (NY) and Nobel Advisors in her native Bulgaria.

Merrill Lynch appointed financial advisor Andrew Horowitz to its office in Century City, California, having previously worked at Morgan Stanley for a stint of five years. With more than 20 years of industry experience, Horowitz focuses his practice on transition and succession planning for business owners and their families. He has worked with families throughout the US. 

EXTHERA Capital, a New York-based hedge fund manager concentrating in global therapeutics, appointed Rael Mazansky as director of research, working alongside the firm’s co-founder and chief investment officer, Ori Hershkovitz. Mazansky joined NEXTHERA after being a healthcare portfolio manager at Surveyor Capital (Citadel), and previously holding senior biotech analyst roles at Perceptive Advisors and Ridgeback Capital.

Merrill Lynch Wealth Management made a raft of changes to its senior management amid a restructuring, including promotions for two executives. The following divisional line-up was announced with six regional units: Northeast, Bill Lorenz; Mid-Atlantic, Lindsay DeNardo Hans; Southeast, Eric Schimpf; Midwest, Paul Lambert; Texas Mountain South, Vince Fertitta, West, Jeff Markham. Two of these figures, Lindsay DeNardo Hans and Vince Fertitta, were promoted, the memo said. Hans was previously market executive of the Philadelphia metro area Fertitta previously was executive at the brokerage’s “Lone Star” market. Separately, Don Plaus, previously DE for the Southeast), and Ben Prince (previously DE for Southwest, who were division executives, moved to new roles on the leadership team. Another senior manager, Linda Houston, decided to retire; she had been DE for New England.

Jeffrey Tucker (previously DE NYC metro) moved to a new assignment and Tom Fickinger (Pacific Northwest) was considering new opportunities within the company. Jim Dickson (DE, Greater Midwest) left the firm to pursue other opportunities. 

Within the Private Banking & Investment Group and International segment, Don Plaus leads PBIG. Plaus also assumed responsibility for its international business.

Matthew Hanson joined the boutique investment and wealth firm Kayne Anderson Rudnick as a senior wealth advisor at its new Boston, MA, branch. Hanson was previously managing director of institutional sales at John Hancock Investments, a role he held since 2011. At Kayne, he reports to Stephen Rigali, executive managing director.

US law firm Day Pitney appointed international tax attorney Von E Sanborn to expand its family office practices and tax services. He is a partner in the organization’s corporate and business law department and is a member of its family office practice in New York. Sanborn previously worked at Withers Bergman, the law firm. His practice area includes tax and estate planning, as well as art law advice for affluent US and international families and single- and multi-family offices.

Independent investment advisory firm Wallace Hart Capital Management chose Raymond James as its custodial partner. The team is comprised of Jeremy Wallace, co-founder and chief investment officer; Andrew Hart, co-founder and chief planning strategist; and Jessica Bedell, wealth management specialist. Before launching their own firm, the trio worked for the world's largest wealth manager, UBS, where they managed more than $113 million in client assets.

Paul Lofties, senior vice president of wealth management and product strategy at Securities America, took additional responsibilities at the firm's parent company, Ladenburg Thalmann Financial Services. Lofties maintains his current role at Securities America and remains based in La Vista, NE, but also serves as a senior vice president of wealth management at Ladenburg. Lofties joined Securities America in 2003.

Stanhope Capital added Mexico’s former finance minister Dr Pedro Aspe to its advisory board. Aspe sits alongside other industry and finance luminaries including Lord Browne, former BP chief executive, and Sir Martin Sorrell, chief executive of WPP. He has four decades of experience in the areas of academia, federal government, and domestic and international private sectors.

Raymond James Financial Services has named Tim Killgoar as senior vice president and head of the financial institutions division.  Killgoar joined the division as director of strategy and consulting in 2015. He previously served as Raymond James’ director of client experience and from 2008 to 2010 he worked directly for the firm’s former chairman and CEO, Tom James. Killgoar succeeded John Houston, CFP, who announced in December that he would be stepping down from his division leadership position to take on the role of FID Eastern Division director, while achieving his personal goal of returning to the Nashville, TN, area to be closer to extended family.

Raymond James recently recruited five faces from Merrill Lynch, where they previously managed around $350 million in client assets, to its Williamsport, Pennsylvania office. Brian Pick, Terri Fought, Michael Bridgham, Craig Fought and Christine Engle joined the Florida-headquartered firm from Merrill Lynch where they also commanded annual fees and commissions of more than $2 million. Together, they operate as Pick Fought Wealth Advisors of Raymond James.

Michael Greenstone, John Araneo, Margie Manning and Anita Srivastava joined Merrill Lynch’s Glen Rock, NJ, office from Morgan Stanley, where they managed $343 million in assets.

Separately, Sam Kim and his associate Scott Mann joined Raymond James & Associates from Wells Fargo Advisors in Ashburn, VA. Kim, senior vice president of investments, and Mann, financial planning consultant, previously managed around $138 million and operate as Kim Wealth Management of Raymond James.

Financial advisors Ashley Banks and Donna Carroll joined Raymond James Financial Services in Gainesville, FL. The duo operates as Banks Carroll Group and previously managed $112 million in client assets at Morgan Stanley. Although they have several types of clients, they specialize in working with females, with a wider focus on providing divorce-related financial strategies.

Bay Trust and Wealth Management Group, part of Bay Banks of Virginia, Inc, appointed Eric F Nost, a financial services executive with more than 30 years of experience in the sector. Nost previously served as president of C&F Wealth Management, a subsidiary of C&F Bank of West Point, VA.  In his new role, Nost is president and chief executive of a new bank subsidiary called Virginia Commonwealth Bank Trust and Wealth Management. 

A US Navy veteran, Nost is a graduate of Virginia Military Institute, earned an MBA degree from Liberty University, and is a Certified Financial Planner.  After completion of his active duty military service, Nost began his career in financial services at the former Richmond-based Wheat, First Securities.  During that time, he also served as a reporter and stock market commentator for Richmond's WRIC-TV8 News.
Aron Riddle joined Atlanta, GA-based Buckhead Investment Partners as a personal wealth advisor and financial planner.  Riddle previously worked at a financial services firm in Atlanta, specializing in retirement planning, income planning, and trust and multi-generational planning needs.

A group of former Merrill Lynch employees became faces of a Avestar Capital, a global multi-family office and wealth advisory business that recently launched through Dynasty Financial Partners. The New York City-based firm's founding partner and chief executive, Xerxes Mullan, was previously a managing director of investments and international private wealth advisor at Merrill Lynch. He was joined by the following former Merrill employees: Tonya Smoake, chief operating officer; Sanjeet Dass, vice president of investments; Jennifer Wolf, vice president of financial planning; Alexa Cark, client services analyst; and Sonia Krauss, client services analyst.