People Moves
Summary Of Wealth Management Executive Moves In June 2013

UK
RBC Wealth Management appointed Mike Moodie to the newly
created post of vice president and managing director, ultra high
net worth, RBC
Wealth Management - British Isles and Caribbean.
He will help to lead the coordination and servicing of UHNW
clients based in the British Isles and Caribbean.
Standard Life Investments appointed Neil Odom-Haslett as its
head of commercial real estate lending, effective the end of
August.
He joined from Deutsche Pfandbrief Bank and reports to David
Paine, head of real estate investments.
Momentum Global Investment Management appointed Mark Skinner
to Momentum’s UK
advisory board. Skinner previously served as director of AMC
search at KL
Communications.
GLG appointed James Ind to its macro and relative value
team. He previously worked at Russell Investments.
AXA Wealth appointed Skandia's former head of proposition
Graham Bentley as interim head of fund group relations, effective
2 July 2012.
Bentley is responsible for delivering customer and
IFA-facing investment solutions and ensuring that AXA secures the
best possible
commercial terms for its investors.
Sanlam UK
appointed Craig McPherson as a business development manager for
the north of England as part
of its regional expansion.
McPherson joined from Barclays Wealth & Investment
Management, where he was business development manager and
responsible for
redeveloping the bank's discretionary proposition for the IFA
market.
JP Morgan Private Bank appointed Karine Thierry-Wilkinson as
a senior banker within its Paris
team.
Thierry-Wilkinson joined from Neuflize OBC where she was a
private banker specialising in family businesses and
entrepreneurial clients.
Fidelity Worldwide Investment appointed
Jill Holohan as UK
propositions director, reporting to Ed Dymott, head of business
development.
Holohan joined from Navigant, where she was financial
services director.
Carmichael Financial Services appointed Craig Henry as
managing director of the wealth advisory arm of its accountancy
business.
Charles Stanley hired ex-Zurich executive sales consultant
Mark Duggan to join its intermediaries sales team.
Duggan reports to James Stewart-Smith, director at Charles
Stanley.
Smith & Williamson appointed Andrew McKenna as head of
its Manchester
office.
McKenna, who has worked at the firm since November 2011, was
previously a partner at BTG Tax from March 2009.
Thomas Miller Investment appointed Matthew Lonsdale as its
new head of intermediary business development.
Lonsdale joined Thomas Miller from Psigma Investment, where
he served as head of business development for more than five
years.
Investec Wealth & Investment promoted Carl Cross and
Simon Fontes to senior investment directors in the firm’s
Liverpool
office, elevating them both from the position of investment
director.
Source appointed Faisal El-Hakim as head of the Middle East
and North Africa. He is responsible for
institutional, corporate, family office and high net worth
investors across the
region and offshore.
Source appointed Philippe Secnazi as an associate and he is
responsible for the coverage of institutional investors, private
banks and
retail distributors in France,
Luxembourg, Belgium and Monaco.
Hermes Real Estate Investment Management appointed Marcus
Palmer as head of real estate debt.
Based at the firm’s headquarters in London, Palmer reports to Ben
Sanderson,
director of international investment.
Cofunds appointed Matt Benson as head of operations. He
previously worked at Aviva, where he held senior roles including
head of
customer experience.
Brown Shipley promoted David Greenyer from private client
senior manager to private client director and Stuart McCarthy
from private
client manager to private client senior manager.
Mirabaud Asset Management appointed Anu Narula to lead its
global equity team in London.
Narula joined from AXA Framlington, where he managed various
portfolios including a global high income fund and a global
opportunities fund.
Sesame Bankhall Group appointed Julie Sadler as chief risk
officer, following approval from the Financial Conduct Authority.
She replaced interim chief risk officer Shaun O’Leary, who
has now left the business following the completion of his
contract.
Schroders appointed Bogdan Popovici as a fund
manager within its fixed income team.
Popovici joined from Wellington Management, where he was
macro portfolio manager on global rates and fixed income.
Pioneer Investments appointed Martin Dolan and Michael
Morris as senior research analysts within its European equity
research team,
based in Dublin.
Dolan joined Pioneer's European equity research team as a
senior equity analyst focusing on consumer staples, and Morris
joined the team
as a senior equity analyst focusing on the materials sector. Both
report to
Diego Franzin, head of equities in Europe.
Calculus Capital appointed Richard Moore as investment
director.
Moore
joined from Citigroup, where he worked from 2005 to 2013, most
recently as head
of the European technology investment banking team.
Baring Asset Management appointed Staffan Lindfeldt as head
of global emerging market equities, reporting to head of equities
Tim
Scholefield.
He joined from Handelsbanken Asset Management in Stockholm, where
he was
chief portfolio manager for global emerging markets.
Fund of funds specialist T Bailey Asset Management appointed
Peter Askew as a senior fund manager, subject to approval by
the
Financial Conduct Authority.
Investec Wealth & Investment appointed David Jones and
Richard Goodier as senior investment directors, specialising in
the high net
worth offering at the firm.
Reporting to Jonathan Quick, divisional director and head of
IW&I's Manchester office, both Jones and
Goodier joined the firm's client team for the north western
region of the UK.
Kames Capital appointed Scott Fleming as fund manager on its
fixed income team, reporting to John McNeill.
Fleming joined from Nuvest Capital, where he was a fixed
income portfolio manager.
Argonaut Capital Partners appointed George Adam as regional
sales manager, reporting to Dennis Pellerito, head of UK sales.
Adam joined from Cazenove Capital Management, where he was a
discretionary sales manager with responsibility for the North of
England, Scotland, the Isle of Man and Ireland.
Investec Asset Management appointed Michael Williams as head
of frontier and emerging markets real estate strategies, within
the real estate
investment team.
Williams joined Investec from African Real Estate Investment
and Asset Management.
Kuber Ventures
appointed Martin Green as regional business development
manager for the
southwest and Midlands regions of the UK.
Harrington Cooper appointed Peter Pearson Lund to the
newly-created role of strategic advisor.
Prior to joining Harrington Cooper, Pearson Lund was chief
executive of Rathbone Unit Trust Management. Before this, he was
a director at
Gartmore and managing director of Henderson’s
unit trust business.
Mirabaud Asset Management appointed Fatima Luis as a senior
high-yield specialist to work alongside fund manager Andrew
Lake in the global high yield bonds
division at its London
office.
Sarasin & Partners appointed John Soler as a senior
associate partner in its private client team.
Soler previously worked at Merrill Lynch Portfolio Managers,
where he spent 15 years and was most recently responsible for a
range of UK and
international clients – a focus he will continue with in his new
role.
Barclays Wealth and Investment Management appointed Scott
Farnetti as a fund manager for its Manchester
office.
He joined from Brewin Dolphin in Newcastle, where he was
responsible for the
management of charity and pension funds as well as private client
assets.
Brewin Dolphin appointed David Howard to the newly-created
role of chief administration officer.
Howard joined from Williams de Bröe, where he served as chief
generating officer for four years.
Charles Stanley appointed Ben Money-Coutts as chief
operating officer for its financial services division, reporting
to director
Mike Lilwall.
Money-Coutts joined from Saltus Partners, where he was a
partner, chief financial officer and chief operating officer.
JP Morgan appointed Robert Kalff as managing director for
its ultra high net worth private banking team in the UK,
reporting to Olivier
de Givenchy, head of the US firm's UK private bank.
Kalff joined from Deutsche Bank in London, where he was head of
the private
wealth management and corporate finance partnership team.
Coutts appointed Ronan Walsh as director, Coutts Channel
Islands, based in Jersey.
Walsh joined Coutts from HSBC, where he was responsible for
managing the bank’s private client base in Jersey.
City Financial Investment appointed Tim Short as chief risk
officer.
Short, with more than 18 years’ experience in the fund
management industry, has held senior risk and fund management
roles at a number
of firms, including Rivercrest Capital, M&G Investments and
Société
Générale Asset Management.
Brown Shipley appointed Mike Hudson as head of risk.
Hudson joined
from Metro Bank, where he was chief risk officer. He has over 20
years’
management experience in banking and financial services,
predominantly focused
on regulatory and risk management.
Maitland, the law firm and fund administration business, has
appointed Rupert Clarey as a senior associate in London.
Deutsche Asset & Wealth Management appointed Vinit Sahni
to expand its services for ultra high net worth clients.
Sahni most recently served at Bank of America,
where he was head of rates and foreign exchange sales for
Europe and Asia, and global head of hedge fund and
central bank
sales for rates and foreign exchange.
The UK-based wealth management group Signia Wealth appointed Sir Keith Mills to its advisory board.
North America
Deutsche Bank, Germany’s biggest bank, announced
that John Andrews will join as head of investor relations,
effective September
1, reporting to Stefan Krause, chief financial officer. He
previously worked at
Citigroup, where he held the same role.
During his more than 25-year career in finance, Andrews has
been in investor relations for over 17 years and served as HR
chief at
Citigroup, Goldman Sachs and Morgan Stanley. He began his career
at Morgan
Stanley.
As part of the change, Joachim Mueller, who was head of
investor relations, has assumed the role of CFO for Europe, the
Middle East and
Africa at Deutsche Bank.
Cetera Financial Group, the California-based family of
broker-dealers that provide wealth management and advisory
platforms, appointed
Steve Dunlap as executive vice president and head of wealth
management,
reporting to chief executive Valerie Brown.
Dunlap will be responsible for the strategic development and
expansion of Cetera’s wealth management services. He replaced
Barnaby Grist.
Most recently, Dunlap served as president and chief
executive of Lockwood Advisors, which operates as the retail
distribution arm
of BNY Mellon, and as president of managed investments at the
company’s Pershing
unit.
The World Gold Council, the market development organization
for the gold industry, appointed Kevin Feldman as managing
director of
worldwide investment, based in New
York.
Feldman joined from BlackRock, where he was head of iShares
marketing. He will be responsible for growing the organization’s
portfolio of
commercial partnerships, and enhancing its market leadership in
gold
exchange-traded funds and other gold products.
Previously, Feldman held positions at Barclays Global
Investors, Vanguard and Charles Schwab & Co.
BNY Mellon Wealth Management appointed three new directors
for the Mid-Atlantic region.
Michael Barron, Marisa Facciolo and Kevin Leigh were named
senior directors for business development, reporting to Garrett
Alton, managing
director and regional sales manager.
Barron is based in Philadelphia,
PA. He previously worked with ICC
Capital Management, where he served as director and portfolio
manager. Prior to
that, he founded Revolution Capital, where he was a principal and
portfolio
manager.
Facciolo started in early May and divides her time between
Philadelphia and Wilmington,
DL. Prior to joining BNY Mellon, she was a wealth strategist at
Northern Trust.
Between 2007 and 2010, she served as senior private client
advisor at
Wilmington Trust.
Leigh joined the firm in May and is based in Philadelphia. She
was
previously an investment banker with Griffin Financial Group and
served as
managing director at Keystone Equities Group, from 2003 to 2009.
New York-based Signature Bank appointed a new private client
banking team, based at its White Plains, NY, office in
Westchester
County. David Pilossoph
and Marie Moreno were both named group director and senior vice
president.
Pilossoph has spent 35 years at Citibank in the Westchester
area, most recently as vice president and branch manager at its
Main Street branch
in White Plains
- a role he held for 23 years.
Moreno was a vice president
and branch manager at Citibank's Mamaroneck
Avenue branch in White Plains, where she focused on business
banking, primarily for professional services entities. Before
being promoted to
this branch manager role, she worked with Pilossoph for nearly
two decades.
Diane Fracasse joined Pilossoph and Moreno as a senior client
associate. Fracasse
was assistant branch manager for Pilossoph at the White Plains
branch, where she provided
sales, service and operational support.
Pennsylvania-based investment management and advisory firm
Drexel Morgan Capital Advisers, formerly known as McCabe Capital
Managers, appointed
Christine Walker as vice president and senior portfolio manager.
Walker joined from BNY Mellon
Wealth Management in Philadelphia,
where she was senior portfolio manager and vice president.
In her new role, Walker
will be responsible for client portfolios and relationships,
design and direct
investment and asset management strategies, and developing new
business for the
firm. She will also serve as a member of the investment
committee.
The Private Client Reserve of US Bank appointed Scott Wiley
as a senior private banking officer, working with high net worth
individuals
and families in San Francisco,
CA.
Wiley has over 14 years of experience in the banking and
financial services industry and joined US Bank from Wells Fargo,
where he was a
senior private banking vice president. Previously, he was as a
private client
advisor at Smith Barney, working within Citigroup’s HNW group.
The Private Client Reserve of US Bank took on Andrea Kaempf
as a personal trust managing director in Seattle,
WA.
Kaempf has over 20 years of experience in the financial
services industry, with an extensive background in complex
trust
administration, asset allocation, and managing private
foundations.
Prior to joining the PCR, Kaempf held leadership roles with
Bank of America’s philanthropic management practice and most
recently worked at
BoA’s US Trust division in Seattle and Bellevue, WA.
Beverly Hills, CA-headquartered Lourd Capital Management, an
independent investment advisory and financial planning firm,
appointed Cole
McNown as vice president.
McNown joined LCM from JP Morgan Private Bank, where he
focused on managing client relationships. Before that, he served
in the private
wealth division of UBS.
Philadelphia, PA-based Janney Montgomery Scott recruited
Neil McCauley as senior vice president of wealth management in
Lancaster, PA.
McCauley oversees approximately $98 million in client assets
and was joined by W Robert Poff and Cindy Bomberger to form The
McCauley Group.
McCauley is formerly of Wells Fargo, where he spent the past
four years. He worked at Wachovia from 2006 to 2009, having
previously been at
Legg Mason for 22 years.
HSBC Private Bank appointed William Murphy as a senior vice
president and relationship manager in Miami,
FL.
Murphy, with over 30 years' wealth advisory and banking
experience, joined HSBC after 27 years at Northern Trust, where
he most
recently served as a senior wealth strategist.
Reporting to Victoria Garrigo, southeast regional manager
for the private bank, Murphy will serve high net worth
individuals in the
Southeast region of the US.
T Rowe Price, the Baltimore-based global investment
management firm, elected former US
Senator Olympia Snowe as an independent director of the company.
Senator Snowe served in the US Senate from 1995-2013, and as
a member of the US House of Representatives from 1979-1995. She
is currently
chairman and chief executive of communications company Olympia
Snowe and a
senior fellow at the Bipartisan
Policy Center.
Oppenheimer Asset Management, a unit of New York-listed
Oppenheimer Holdings, appointed Tim Pynchon as managing director
and portfolio
manager for high-yield, tax-exempt funds. He will be based in
Boston, MA.
Pynchon - latterly of Pioneer Investment Management - has
worked in the asset management business since 1982. Throughout
his career, he
has focused on high-yield, tax-exempt fixed income products,
working as a
portfolio manager, underwriter, analyst and restructuring
specialist.
Brown Advisory hired Vincent Burke as a senior advisor,
tasked with using his experience as a lawyer and fiduciary to
serve clients
throughout the US and expand
the firm's presence in Washington,
DC.
Since 2007, Burke has served as managing director and
counsel at Bank of Georgetown. He will continue in those roles in
addition to
his new position at Brown Advisory.
Earlier in his career, Burke served as partner at Furey,
Doolan & Abell in Chevy Chase, MD, and at Reasoner, Davis & Fox
in Washington, DC.
Montecito Bank & Trust hired Suzi Schomer as a vice
president and business development officer, reporting to Jeff
Pittman, senior
vice president and director of wealth management.
Schomer has around 30 years of experience in the financial
services industry, focused on providing clients in
California,
Portland, OR,
and Austin, TX, with investment and asset management
services. During her career she has also developed and
implemented wealth
management strategies for trust, investment management and
private banking
clients.
Ruston, LA-based Argent Financial Group and its
newly-created subsidiary, Argent Trust, named Meredith Strutt
Mighty as
business development officer, responsible for client development
and relationship
management for individual and institutional clients.
Mighty joined from APG, a small family office services
company which she co-founded in 2006. She started her career in
2002 as a
research associate and client service representative at Legg
Mason Capital
Management.
Raymond James Financial Services, an independent
broker/dealer subsidiary of Raymond James, recruited a new team
in the shape of
Illinois-based Dashboard Wealth Advisors.
The team joined from Morgan Stanley, where they managed over
$240 million in client assets and had annual fees and commissions
of $1.9
million.
DWA is led by managing director, Scott Schuster, who is also
a financial advisor at Raymond James. He is joined by his
business partner,
Paul Casazza - also an advisor at Raymond James - as well as
operations
manager, Mary Phillips, and DWA’s chief financial officer,
Heather Schuster.
The trio also worked together at Morgan Stanley, where they
operated as the Schuster-Casazza Group.
Northern Trust promoted David Williams to the role of sales
director for wealth management.
Williams, with more than 27 years’ experience in the
financial services industry, has spent 15 years at Northern
Trust. Before
joining Northern Trust, he held a variety of wealth management
and commercial
banking positions at First Midwest Bank, Firstar Bank and Lake
Shore Bank.
Williams succeeded Brett Rees, who now leads Northern
Trust’s Mid-Atlantic region from the firm’s Washington, DC,
office. In his new role, Williams will report to Jana Schreuder,
president of
wealth management at Northern Trust, joining Schreuder’s
executive leadership
team.
BMO Private Bank appointed Dan Barron as managing director
in Rockford, IL,
and Kathy Weber as managing director in Chicago,
IL.
Weber, with more than 30 years' experience in financial
services, has been managing BMO Private Bank's team of wealth
management
professionals in Rockford
for over a decade (three years with BMO, seven years prior to
that with AMCORE
Bank). Weber led the private banking operations for all of AMCORE
Bank.
In her new role, Weber will lead a team of wealth advisors,
private bankers and portfolio managers.
Barron, with more than 30 years' financial services
experience, including 17 years at BMO Financial Group, most
recently held the
role of regional president in the northern region of Wisconsin,
where he led a
team of over 150 employees and was responsible for retail,
business banking and
wealth management businesses. For the past 19 months, Barron has
been a senior
private banker in Chicago.
Philadelphia, PA-based Janney Montgomery Scott added
industry veterans Alfred DeRenzis and Scott Ford to its new
Westminster, MD,
office as senior vice president of wealth management and first
vice president
of wealth management, respectively.
DeRenzis and Ford, who collectively oversee approximately
$159 million in client assets, were joined by registered private
client
assistant, Karen Seipp, to form the DeRenzis Ford Group.
DeRenzis and Ford both joined Janney from Morgan Stanley,
where they spent the past four years. The team previously worked
at Citigroup
(2006-2009), and spent 25 and eight years, respectively, at Legg
Mason before
that.
Lincoln Financial Network, the retail client business of
Philadelphia, PA-headquartered Lincoln Financial Group, appointed
Bill Fortner
as managing director of Lincoln Financial Advisors, leading the
Pacific
regional planning group.
Fortner will manage regional planning offices in Northern
California, Oregon, and Washington State,
where he will focus on increasing market share, the firm said in
a statement.
Based in San Ramon,
CA, Fortner will report to head
of Lincoln Financial Advisors, John DiMonda. Fortner joined from
MetLife, where
he served as a regional sales vice president covering Southern
California and Hawaii from 2011 to 2013.
BNY Mellon Wealth Management appointed Eric Stein as senior
director for business development, based in the firm’s Miami,
FL,
office and reporting to managing director Tim Goering.
Stein, with more than 29 years' experience serving high net
worth clients, joined BNY Mellon from BB&T Bank in Miami,
where he served as a wealth advisor.
From 2005 to 2012 he was a HNW client advisor at SunTrust Bank in
Coral Gables, FL.
Wells Fargo Advisors bolstered its private client group with
the addition of nine advisors across seven states from Morgan
Stanley, Bank of
America Merrill Lynch and RBC Capital Markets.
James Hunt joined the Chicago,
IL, branch from Morgan Stanley
and had $181 million in assets under management, on top of $425
million in
assets held away from the firm. Hunt has 20 years of industry
experience and
reports to Chicago
complex manager Kevin Ortmeyer.
Bruce McMillan was hired in San Francisco, CA,
from Merrill Lynch. McMillan has 28 years of industry experience
and had $105
million in AuM. He reports to San
Francisco market manager Kevin Kitchin.
In Westport,
CT, Anthony Bavedas - formerly of
Morgan Stanley - has some 40 years of experience in the industry
and had $109m
in AuM. He reports to Northern
Connecticut market manager Chris Calabrese.
Meanwhile, the Lyon Dobbyn Wealth Management Group,
comprised of financial advisors John Lyon and Jeannette Dobbyn,
joined the Anaheim, CA,
branch from Morgan Stanley. Wells Fargo said they will be moving
to Brea in the coming
months.
Lyon and Dobbyn have nearly 65 years of experience in the
industry and had $360 million in AuM. Stacy Stryker, their client
associate, also
joined. The team reports to branch manager Alan Hall.
Brian Stahler stepped into the Wichita Falls, TX,
branch from Morgan Stanley. Stahler has 17 years of industry
experience and had
$108 million in AuM. He reports to branch manager Ralph Grantom.
Additionally, financial advisors Peter Vrooman and Jonathan
Sarver were appointed from RBC Capital Markets in Kansas City.
Vrooman and Sarver have 31 years
of industry experience and had $125 million in AuM. They took
with them their
registered client associate, Jessica Estes-Fleischmann, and
report to branch
manager Erik Gaucher.
Lastly, Philip Weber joined the Hyannis, MA,
branch from Merrill Lynch. Weber has 23 years of experience in
the industry and
had AuM of $129m. He reports to branch manager Paul Stubbs.
Mark Gim, executive vice president and treasurer at Westerly,
RI-based Washington Trust, was named executive vice president of
wealth
management and treasurer.
In his new role, Gim will establish and execute business
strategy for Washington Trust Wealth Management, a division of
The Washington
Trust Company.
Gim, who joined Washington Trust in September 1993 from
Citizens Bank, oversaw the retail banking division alongside his
roles as
executive vice president and treasurer.
US Wealth Management, a network of wealth managers, appointed
Christian Widen from Pershing Advisor Solutions as managing
director and head
of corporate development.
Widen will be based in New
York City and report directly to John Napolitano,
chief executive of USWM. He will focus on adding fee and
commission-based
independent financial advisory practices with between $50 million
and $100
million in assets under management.
GenSpring Family Offices, the New York-listed wealth
management firm for ultra high net worth families, promoted Nikki
Gokey to
president of the Florida
region.
Gokey will oversee the operations and delivery of wealth
management services in Florida, which includes
family offices in Palm Beach, Orlando,
Tampa Bay,
Miami and Sarasota.
Gokey joined GenSpring in 2004 as a family wealth advisor in
Orlando.
Raymond James & Associates, the broker/dealer subsidiary
of New York-listed Raymond James Financial, took on Cynthia
Woodsmall Jones as
senior vice president of investments in Columbus,
GA.
Jones focuses on asset management for high net worth
individuals and families, and also advises on corporate
retirement assets,
specifically 401(k) plans.
Jones joined Raymond James from Morgan Stanley, where she
managed over $435 million in client assets and had some $1
million in annual
fees and commissions. She started her career in the financial
services industry
in 1981 at Robinson-Humphrey & Co.
Brenda Meadows joined Jones as a registered client associate.
Meadows is also latterly of Morgan Stanley. Meadows has over 33
years of
financial industry experience, including several years as an
operations manager
and complex risk officer.
Morgan Stanley Wealth Management hired three financial
advisors from UBS and Wells Fargo in Ridgewood, NJ, Pasadena, CA,
and Seattle,
WA.
In Ridgewood, Arthur Levine
joined Morgan Stanley from Wells Fargo and reports to branch
manager Peter
Christou. Last year, Levine had a T-12 production of $2.4
million.
Meanwhile, T Samuel Coleman Sr and T Samuel Coleman Jr joined
the firm from UBS in Pasadena, CA,
and Seattle, WA, respectively.
Coleman Sr reports to Cynthia Newman, Pasadena
complex manager, while Coleman Jr reports to Alex Burlingame,
Seattle complex manager. The team has
combined T-12 production of $1.3 million and prior assets of $161
million.
BNY Mellon Wealth Management named Christopher Facka as
senior director for business development, based in West Palm
Beach, FL,
and reporting to managing director Tom Goering.
Facka filled a new role at the New York-listed firm, created
as part of the expansion strategy announced last month by BNY
Mellon Wealth
Management’s chief executive Larry Hughes.
Facka joined from Wells Fargo, where he has worked for his
entire career in financial services. Most recently, he was a
branch manager and
financial advisor in West Palm Beach
overseeing a team of nearly 40.
Bank of Kansas City lured three veteran wealth managers from
UMB Bank.
Bob Weber, Kevin Zimmermann and Justin Richter, who all
specialize in working with clients with at least $1 million in
investable
assets, were named senior vice presidents at Bank of Kansas
City’s The Private
Bank.
Weber was at UMB for 15 years and was a managing director of
portfolio management.
Zimmerman was at UMB for seven years and was a senior vice
president for private banking and wealth management. He was at
Bank of America
for five years before that.
Richter was at UMB for nine years and was a portfolio manager.
Foster Dykema Cabot, the Boston-based private wealth
manager, hired Douglas Phillips from Choate Investment Advisors
as its chief
investment officer.
Phillips will work with FDC’s team on investment strategy,
asset allocation and security and manager selection.
He has been in the investment management industry for 25
years, working with high and ultra high net worth clients and
their endowments
and foundations. At Choate Investment Advisors he was a senior
portfolio
manager and member of the investment policy committee.
Janney Montgomery Scott hired W G Simms Oliphant and
Christopher Smith
as senior vice presidents for wealth management in Columbia, SC.
Oliphant and Smith, who together oversee some $155 million
in client assets, were joined by senior registered private client
assistant
Julie Boulware to form SC Asset Advisors.
The Columbia office, led by
branch manager Larry Orr, is part of Janney’s Atlanta, GA,
complex, which is led by complex manager Jeff Paulsen.
Oliphant and Smith are latterly of Little Rock,
AR-headquartered Stephens, where Oliphant spent the past seven
years. Oliphant
worked at Legg Mason between 2001 and 2005, when the firm
transferred its
business to Citigroup, and spent seven years at Wachovia before
that.
Meanwhile, the Philadelphia, PA-based firm also announced
that Andy Kistler, southeast regional manager, is moving to the
Charlotte, NC,
office.
Avondale Partners, an independent investment banking and
wealth management firm, is setting up an office in New York.
The Nashville, TX-headquartered firm hired John Cuddeback,
from the New York office of BMO Capital
Markets, and Dana Lambert, from Royce
& Associates,
New York, to lead the new office.
Lambert has worked both on the buy and sell side. Most
recently he was an assistant portfolio manager at Royce &
Associates, where
he had worked since 2007.
Cuddeback was a director of institutional equity sales at
BMO Capital Markets, covering accounts in New York
and across the Midwest.
John Schmidt, executive vice president, chief financial
officer and chief operating officer at Heartland Financial USA,
is leaving the
Iowa-based firm this month to become CFO at another firm outside
of the
financial services industry.
Schmidt has served for 22 years as CFO of Heartland and was
then given the additional role of president of the firm's Dubuque
Bank and
Trust subsidiary. He will continue to serve as a member of the
Dubuque Bank and
Trust and Heartland boards of directors after his departure.
The firm said it had been looking to recruit another CFO to
support Schmidt in the areas of finance and treasury. The search
for a
successor CFO will continue among both internal and external
candidates.
In the meantime, senior vice president David Horstmann, an
eight-year Heartland employee and member of the firm’s finance
team, is now
interim CFO, while Lynn Fuller took on COO responsibilities.
Richmond, VA-headquartered Genworth Financial, which in
March 2013 sold its wealth management business for $412.5 million
to New York-based
Aquiline Capital Partners, announced an expense reduction plan to
boost
operating performance across its businesses to save between $80
million and $90
million in annual pre-tax expense savings.
The move will eliminate around 400 positions, including 150
open posts that will not be filled, while also cutting spending
on related
information technology and programs.
Stephen Fish joined UBS Financial Services from
Kentucky-headquartered wealth manager Hilliard Lyons, according
to FINRA
records. At Hilliard Lyons Fish managed $475 million in client
assets and last
year had T-12 production of $3.4 million. He has worked in the
financial
advisory industry for around 20 years.
New York-headquartered W P Stewart & Co, the global
asset management firm, named Michael Maquet as chief executive.
Maquet joined other members of the firm’s senior management
team, which includes Mark Phelps, president and managing director
within global
investments, and James Tierney, managing director and chief
investment officer.
Maquet was latterly president and CEO of Madison Square
Investors, an equity asset management firm he joined in 2009.
International law firm Walkers ramped up its teams with a
number of promotions as part of its continued expansion.
In the Cayman Islands office, Melissa Lim was promoted to
partner in the investment funds group; in the Dublin office,
Andrew Traynor was
promoted to partner in the finance and corporate group; in the
Singapore
office, Laura Rogers was promoted to partner of the investment
funds group; in
the London office, Jasmine Amaria was
promoted to partner in the investment funds group; in the Hong
Kong office Paul
Aherne was promoted to counsel in the finance and corporate
group, and Aaron
McGarry was promoted to of counsel in the asset finance group in
the Dublin
office.
In other appointments in the Cayman
Islands, Matthew Goucke was promoted to partner in the
Dispute
Resolution Group; Nick Dunne, Rupert Bell and Shelley White were
promoted to
senior counsel in the Dispute Resolution Group.
Meanwhile, in the British Virgin
Islands Julie Engwirda was promoted to partner and Oliver Clifton
was
promoted to senior counsel in the Dispute Resolution Group.
Wells Fargo Advisors Financial Network hired J D Joyce -
formerly of UBS Wealth Management Americas - as an independent
advisor in Houston, TX.
Joyce spent 20 years at UBS, where he managed $306 million
in client assets. Joyce started his career in the training
program at the
former PaineWebber brokerage, which eventually formed UBS
WMA.
New York-headquartered Innovest Systems, a financial
technology firm specializing in trust accounting and wealth
management
solutions, hired John Shepherd from Wilmington Trust as a vice
president of
product management.
In this role, he will be responsible for enhancing the
firm's products and services to better help clients grow their
businesses.
Shepherd has around 30 years of experience as a planner and
manager in the financial services industry and at Wilmington
Trust oversaw the
conversion of the firm's "solutions architecture," which
involved
streamlining processes, strengthening workflows and eliminating
data integrity
issues.
Romano Wealth Management, an Evanston, IL-based firm, hired
Scott Miller as a portfolio manager.
Miller has been in the financial management industry for 14
years and worked at the likes of Charles Schwab and H&R Block
Advisors. At
Charles Schwab he garnered client assets of around $60 million
while
maintaining a practice of around $300 million.
Raymond James appointed James Hall as a retirement team partner
and
financial advisor within the Green Financial Group, an
independent firm in Houston, TX.
Hall joined Raymond James from USCA Securities, where he managed
$100
million in assets. Before that, he spent time at UBS, Morgan
Stanley, Paine
Webber and Shearson Lehman Brothers. While at Morgan Stanley, he
partnered with
Jeff Green, founder of Green Financial Group.
The brokerage firm Stifel, Nicolaus & Co hired Michael Wallace
and Todd
Belfiore from UBS to launch a new private client office in Tampa,
FL.
Wallace and Belfiore have a combined 48 years of industry
experience and
join from UBS Financial Services, where they managed $179 million
in client
assets.
They both started as senior vice
presidents/investments, with
Wallace serving as branch manager of the new office.
Connecticut Wealth Management, a registered investment advisor,
brought in
the Filomeno Wealth Management team to its operation.
Joining the team were financial advisors Michael Tedone,
Kathleen
Christensen and Elizabeth DeBassio, as well as Kimberly Lockwood,
who served as
investment group administrator at Filomeno Wealth Management.
They brought with them $120 million in client assets, bringing
Connecticut
Wealth’s assets under management to $400 million.
The Private Client Reserve of US Bank hired Kathy DePauw Graham
from JP
Morgan Private Bank as a senior portfolio manager in Chicago, IL.
Graham will help develop and implement investment portfolios for
high net
worth individuals and institutions, while also serving as the
local investment
practice leader.
Graham has over 30 years of experience in the financial services
industry
and joins US Bank from JP Morgan Private Bank, where she was an
investment
advisor. She also previously served as head of wealth management
investment
sales and servicing for Northern Trust Global Investments, and
spent about 20
years at First National Bank of Chicago
and successor institutions.
Philadelphia, PA-based Janney Montgomery Scott appointed Robert
Benson and
his partner Michael Slaymaker as first vice president of wealth
management and
vice president of wealth management, respectively, in Washington,
DC.
Benson and Slaymaker collectively oversee about $142 million in
client
assets and were joined by registered private client assistant
Elizabeth Miller
to form The Old Dominion Group.
Benson spent the past four years at Morgan Stanley, having
previously worked
between 2006 and 2009 at Citigroup and for 21 years at Legg Mason
prior to
that. Slaymaker also joins from Morgan Stanley.
OppenheimerFunds promoted executive vice president and chief
investment officer Art Steinmetz to president.
As president and CIO, Steinmetz, who joined the firm in
1986, will continue to report to chairman and chief executive
Bill Glavin. Meanwhile,
OppenheimerFunds' team of CIOs will continue reporting to
Steinmetz, who the
firm said will continue to co-manage his existing investment
strategies and
portfolios.
Commonwealth Financial Network appointed managing principal
and chief financial officer Rich Hunter as president and chief
operating
officer.
Hunter, who has overseen all financial activity at the firm
for 25 years, will retain his other roles.
In other developments, Peter Wheeler, who has been at the
firm for about 30 years, will retain oversight of the firm’s
legal and
compliance affairs, but with the additional title of vice
chairman. He will
also focus on long-term executive management responsibilities and
strategic
planning.
Commonwealth also promoted seven managers to the
newly-created
position of senior vice president, in addition to their existing
roles.
They were: John Bohs, brokerage operations; Simon Heslop,
asset management; Jim Hommeyer, strategic and tax planning; Carly
Maher,
sponsor relations and conferences; Gavin Morrissey, wealth
management; E J
Sutherland, information technology; and Paul Tolley, compliance.
HighTower Advisor Network, formed in September 2012, added
its first advisor team in the shape of Atlanta, GA-based Shaffer
Wealth
Management.
HighTower Advisor Network differs from the HighTower
Alliance in that it is designed specifically for breakaway
brokers, offering
them a customized set of services with which to serve their
clients.
The HighTower Alliance is aimed at advisors who are either
leaving a wirehouse or are already independent, but, as
previously reported,
both pathways allow advisors to keep all of their earnings.
Shaffer Wealth Management oversees $300 million in assets
and is comprised of Roger Shaffer, managing director, Rhonda
Lamb, executive
director, and Perry Neuman, senior director.
The team joined from SunTrust Investment Services and
specializes in serving wealthy families with concentrated stock
positions. It
also has expertise in cash flow solutions and liability
management.
Deutsche Asset & Wealth Management, the wealth arm of
German banking giant Deutsche Bank, appointed Vinit Sahni to
expand its
services for ultra high net worth clients.
Sahni most recently served at Bank of America, where he was
head of rates and foreign exchange sales for Europe and Asia,
and global head of hedge fund and central bank sales for rates
and foreign
exchange. Before that, he was the co-head of fixed income sales
for Goldman
Sachs in Asia ex-Japan. Earlier in his career
he worked in Deutsche Bank's global markets business.
In his new role, Sahni, joins the global client group's key
client partners unit, which is responsible for specialist
coverage of UHNW
clients. He will be based in London
and report to Dario Schiraldi.
Northern Trust appointed David Albright as global sales and
marketing director for its family office group.
Albright has been at the Chicago-headquartered firm for 15
years and most recently led its business development efforts in
the northeast
of the US.
In his new role he replaces Shannon Kennedy, who has left
Northern Trust.
Asia-Pacific
appointment of Lawrence Nutting as chief distribution officer for its
Hong Kong office. Nutting was previously the general manager of
Manulife-Sinochem's Shanghai branch. He joined Manulife as assistant
vice president for regional agency development and training in 2003 and
then moved to Manulife-Sinochem in 2004 as vice president of China
agency development.
as head of Asian and Indian equities, based in Hong Kong. Duggal, who
was based in Singapore, relocated and added this new role his
responsibility as the lead manager of the HSBC GIF Indian Equity fund.
He has been with the group for more than 17 years.
with operations in regions including Asia, named industry veteran Stan
Beckers as chief executive of ING Investment Management International.
Beckers took over from Gilbert Van Hassel who had decided to leave the
company.
China, strengthened its board of directors with the appointment of Tian
Guoli as chairman and non-executive director of the firm and Bank of
China (Hong Kong), its principal operating subsidiary. Tian is currently
the chairman and executive director of Bank of China, the controlling
shareholder of the company with some 66.06 per cent of issued shares. He
replaced Xiao Gang, who resigned from the company in 17 March 2013.
Barclays after working at the private banking arm for over two years.
Reasons for his departure were undisclosed.
VP Bank Group - which has offices in Singapore and Hong Kong, among
others - is shaking up its top management structure to make itself more
efficient in serving clients, and is recruiting a new head of client
business – a newly formed unit. In a statement, the private bank said it
"will be welcoming a new member to its Group Executive Management." An
announcement has yet to be made.
fund management firm, announced the departure of its general manager He
Bao, citing personal reasons. He was replaced in the interim by Yang
Kun, managing director.
global asset management group, split the roles of chief executive and
chairman to comply with common corporate governance practices. Takumi
Shibata assumed the role of director and chairman, responsible for
governance related matters. Charles Beazley remains as president and CEO
and is responsible for the day-to-day management of the business. The
separation of the chairman and CEO roles was a unanimous decision by the
board. Shibata's appointment effectively brings the board composition
to 9 directors, with four executive directors, three non-executive
independent directors and two from STB.
WealthBriefing and WealthBriefingAsia, launched a new recruitment
business, Andrew Deane Associates. The company will focus on mandates
from major wealth management firms and private banks in Europe, Middle
East and Asia.
Dong as team head and senior relationship manager for the Chinese
market. She was a former managing partner at IAM and Silverhorn
Investment Advisors. In her new role, Dong reports to Kaven Leung, chief
executive officer for North Asia.
international network with new partners at various global offices. In
Hong Kong, Paul Aherne was promoted to counsel in the finance and
corporate group. In Singapore, Laura Rogers was promoted to partner of
the investment funds group.
of China, announced the retirement of its deputy chief executive for
financial markets Wong See Hong. He was replaced by Huang Hong, who also
assumed the roles of director of BOC Group Life Assurance, director and
chairman of BOCI-Prudential Trustee and BOC Group Trustee. Huang has
been with the company since 1981.
counselling firm, opened its first overseas office in Singapore and
named Peter Lampert, international equity analyst at the Calgary branch,
to lead the division. The Singapore office is set to be launched in
August 2013 and will be its third, after Calgary and Toronto.
investment firm, re-hired Eugene Eun Soo Chung, a former executive, as
chief executive for Korea. Chung was chief investment officer of fixed
income at AllianzGI Korea from 2001 to 2006. Prior to rejoining the
firm, he was CEO and president of KyoboAXA Investment Managers, Korea.
He took over from Kwanghyun Kyung, the chief operating officer who
served as acting CEO after Wonil Lee left the company in February this
year.
Societe Generale, appointed Gilbert Tse to the newly-created role of
head of Lyxor for Asia, based in Hong Kong. Tse reports to Pierre Gil,
Lyxor’s head of international development. He was previously the
executive vice general manager of Fortune SG Fund Management.
banned Murray John Priestley, the former chief executive of the
Lifestyle Group, from providing financial services for three years due
to negligent advisory behaviour and deceptive conduct. His ban took
effect 3 June.
as a senior relationship manager and director for the China Market. He
reports to Isabelle Tian, who is managing director. Chan previously
worked at DBS.
specialist Appway launched a regional office in Hong Kong and named Reto
Merazzi as its head. Merazzi joined the firm from UBS.
Alternative Investment Management Association announced the departure
of its chief executive, Andrew Baker, by the end of 2013. He will hand
over the CEO role to his successor, who has yet to be named. Baker has
been CEO since 2009. Prior to that, he served as deputy CEO for two
years. The separation is amicable and he will stay on until his
replacement has started.
from Credit Suisse to pursue other opportunities after spending less
than two years in that position. Tee Fong Seng, vice chairman for
private banking Asia Pacific, will take on the roles of market area
head, Greater China, and head of private banking, Hong Kong, reporting
functionally to Francesco de Ferrari, head of private banking Asia
Pacific, and from a location perspective to Neil Harvey and Liping
Zhang, co-chief executives for Greater China.
Fidelity China Special Situations trust manager Anthony Bolton will
retire in April 2014 and will be replaced by fund manager Dale Nicholls.
After April 2014, Bolton will continue as an advisor to Fidelity and a
trustee of its charitable foundations. Nicholls has 17 years’ investment
experience and has managed the Fidelity Funds Pacific Fund since
September 2003.
industry veteran Paul Kasian to head its equities arm. Kasian was
previously the CIO at First Samuel and head various senior roles at HSBC
Global Asset Management.
director Omer Erginsoy from its London office to its Singapore
headquarters to lead its Asia-Pacific advisory business. Also relocated
to Singapore was Stefano Demichelis, associate managing director for the
investigations practice in London, to focus on developing data-mining
strategies for the Asian market. On a similar note, the company
relocated Jason Wright from the Singapore office to Hong Kong to become
an associate managing director.
new chief executive for Singapore, after serving as head of business
finance for HSBC Singapore. Lim took over from Sten Ankarcrona, who was
named managing director and head of the Nordic region at HSBC Global's
Stockholm office.
its new head for Singapore. Chan assumes this new role after serving as
managing director and head of sales and business development for the
firm's asset servicing arm in Asia. The previous head, Chong Jin Leow,
has left the bank for undisclosed reasons.
legal officer effective 24 June, to replace David Monroe who resigned in
May after seven years with the firm. Long brings almost 30 years of
industry experience to the role.
Kong arm with the appointment of Amie Cheng as team head for the HK
market. She was joined by three financial specialists: June Chow and
Fion Wong, from HSBC, and Vivienne Wong, from Credit Suisse.
from Sunny Sun as country executive for China. Sun returns to the
company's New York headquarters to pursue a new role working with Asian
clients in the US. Kung also now serves as general manager for the
Shanghai branch. Prior to appointment, he was managing director and head
of private banking for the China region at DBS.
Prudential Asia, named Guy Strapp as chief executive effective 1 August,
to replace Graham Mason who will become executive vice chairman of the
firm. Strapp joined the company in 2007 and prior to the appointment
served as CEO of the Singapore and Hong Kong businesses.
for private banking in Asia-Pacific in 1 July. Details of his next role
have yet to emerge.
strengthened its domestic market coverage with the appoitment of
executive director Freeman Ma as desk head in HKT1, reporting to Becky
Li. Jamee Wong Wong, executive director, was appointed as desk head in
HKT2, to report to Philip Mak. Managing director LienSeng Tan was also
named desk head in HKT2, while Crystal Wong joined the same team as
client advisor, director, reporting to Kenny Pang.
three-year suspension on former HSBC advisor Sit Hai Wong for negligence
linked to the sale of an investment-linked assurance scheme in October
2010. He is suspended from 19 June 2013 to 18 June 2016. HSBC has
settled the case with the affected client.
its Australian arm, Man Investments Australia. Douglas joined the firm
from JP Morgan in London, where he last served as managing director for
foreign exchange and emerging markets. He reports to Emmanuel Roman,
CEO.
Wei Ling, head of Singapore and global markets private banking. Low had
held the role for two and a half years. Details of her next role have
yet to emerge.
board of directors at Australia and New Zealand Bank. His appointment
took effect 1 July.
consulting firm, bulked up its growth markets investment and retirement
teams in Asia and Europe with three appointments. Jeff Schutes has taken
the newly-created role of head of the investments business in the
growth markets, covering Asia, the Middle East and Turkey, Africa and
Latin America. He was previously the head of the Latin America
investments business. Andrew Kirton succeeded Tom Geraghty as head of
the investments business in Europe after the latter took the post of
market leader and CEO for Ireland. Finally Akhil Sethi assumed the
newly-created post of head of the retirement business in the growth
markets. He was previously the global chief operating officer for the
retirement arm.
Sriskandarajah to head its new office in Australia as managing director.
Sriskandarajah was previously the head of institutional distribution in
Australia for BlackRock.
Pedersen as head of its new private banking office in Singapore.
Pedersen used to be an analyst at the bank's treasury department and
since 2000 has worked in senior roles within asset management private
banking. Other members of the new Singapore team are account managers
Jonas Bergqvist, Haavard Farstad and Kim Osborg Nielsen.
National Australia Bank, said goodbye to its eight-year chief executive
Paul Heath, who announced that he is leaving effective mid-July. The
company is currently looking for his replacement.
wealth management team with three Hong Kong hires. Joining Steven Chan,
who was named director for the China market, were Phoebe Kwong and
Chris Hui, who now serve as vice presidents. All three were from DBS.
its sales and risk management teams in the Asia-Pacific region. All are
Singapore-based. Ang Kah Han, previously from Sarasin, was made
executive director, Elizabeth Tay, previously from Deutsche Bank, was
named vice president, while Alice Tan, also from Deutsche Bank, joined
as senior manager for credit risk and strategic risk initiatives. Also
hired was Tan Chee Keong, from UBS, as head of operational risk
management, emerging markets.
of human resources effective 1 July to replace Conrad Venter who has
retired. Lambert previously worked as director of global reward at Royal
Bank of Scotland. She is now based in Frankfurt and reports to Stephan
Leithner, member of the management board and the group executive
committee.
Switzerland
banking division and member of the executive board, Markus Gygax, will
leave Swiss banking group, Banque Cantonale Vaudoise on 30 November
2013, to take on the role of chief executive at Valiant Bank.
since 2008, and under his guidance, retail and e-banking at the firm
strengthened, resulting in strong growth in business volumes during
recent years. Gygax also oversaw the reorganisation and modernisation of
the retail network and was one of the early proponents of mobile
banking.
Generali Investments Europe, the main asset management company of
Generali Group – the latter being parent to private bank BSI – appointed
Santo Borsellino as its new chief executive.
the group to “take on an important role in another company”, Generali
said in a statement. It did not elaborate on Setbon’s future role.
joined Dion from Oracle, where he was a sales executive responsible for
integrated risk and finance applications in the German banking market.
He brings more than 20 years’ experience to the role, having worked in
business development and sales for financial technology firms including,
Metastorm, Sungard and Odyssey Financial Technologies (acquired by
Temenos).
his new role as business development manager, Kleber helps to drive
Dion’s growth in the European market across the DACH region, which makes
up Germany, Austria and Switzerland.
Association of the Luxembourg Fund Industry opted to re-elect Marc
Saluzzi as chairman of its board of directors, following ALFI’s annual
general meeting.
investment management industry in Luxembourg and in the US, has been on
the board of ALFI since 2001, and has held the position of chairman
since 2011. Before that, he was with PricewaterhouseCoopers, becoming a
partner in 1996. Between 2006 and 2010 Saluzzi led the PwC global asset
management team.
head of human resources. She previously worked in the role of director
of global reward at Royal Bank of Scotland.
is based in Frankfurt and report to Stephan Leithner, member of the
management board and the group executive committee whose functional
responsibilities include human resources. She replaces Conrad Venter,
63, who retired from the bank.
Arab Emirates-based National Bank of Abu Dhabi hired Claude-Henri
Chavanon as group chief investment officer and head of the investment
group of NBAD, based in Abu Dhabi.
investment management and business development across various asset
classes, previously served as chief investment officer of NBAD Private
Bank in Switzerland since 2007.
strategies and vehicles. He serves in the bank’s various investment
management committees, and direct and manage the delivery of investment
products across all NBAD business lines. He also leads the strategic and
tactical investment asset allocation for use by clients’ businesses.
International
Raiffeisen Bank International appointed Karl Sevelda as its
new
chief executive, following the resignation of CEO Herbert Stepic
last
month, who decided to leave the firm “for personal reasons”.
As reported by WealthBriefing last month, Sevelda's predecessor,
Stepic,
is being investigated by the European bank’s compliance
department amid
media reports that he used an offshore account to manage real
estate
investments.
Sevelda, with more than 35 years' experience in the financial
sector,
spent more than 20 years with Creditanstalt.