People Moves

Weekly Summary Of Industry Moves

Eliane Chavagnon Editor - Family Wealth Report August 31, 2015

Weekly Summary Of Industry Moves

Here is a summary of all the comings and goings covered by Family Wealth Report last week.

Kate Randall Danella was appointed as a wealth strategy and effectiveness executive at Regions Wealth Management.

Prior to joining Regions, Danella was a vice president at Capital Group Companies in Los Angeles, CA, having joined the firm in 2002 and served in sales, service, marketing and management roles in Los Angeles, San Francisco and New York.

CIBC re-jigged its organizational structure, although Steve Geist, senior executive vice president and group head of wealth management, and Kevin Glass, senior executive vice president and chief financial officer, retained their current responsibilities.

David Williamson, senior executive vice president and group head of retail and business banking, was given responsibility for “bank-wide innovation.” Meanwhile, Mike Capatides, senior executive vice president, chief administrative officer and general counsel, was tasked with helping to simplify the bank. Stephen Forbes was appointed as executive vice president and chief commercial officer, charged with enhancing CIBC's client experience.

Among other changes, Geoff Belsher, group co-head of CIBC's wholesale banking business, is retiring on September 30; Harry Culham was named senior executive vice president and group head of wholesale banking; Laura Dottori-Attanasio, senior executive vice president and chief risk officer, took on expanded responsibility for compliance and anti-money laundering; Kevin Patterson, senior executive vice president of technology and operations, took on expanded responsibility for corporate security; Jon Hountalas, executive vice president, took on a new role overseeing CIBC's business and corporate banking businesses; and Sandy Sharman was named executive vice president and chief human resources officer, responsible for talent and people strategies.

Sabrina Bailey joined Northern Trust Asset Management as global head of defined contribution, a new position created as Northern Trust looks to expand its retirement solutions business.

Bailey was previously head of US defined contribution at Mercer Investment Consulting in Seattle, WA.

As well as the external hires, Brian Bursua and Patrick Gaskin joined the DC solutions group in sales and service roles from within Northern Trust, to further align resources and provide focus in serving the recordkeeper channel.

Former Merrill Lynch advisors Michael Carr, Kirk Ruth, Jeff Hogue and Jeff Rizzo joined UBS’s new office in Florida to serve high and ultra high net worth clients.

The appointees have a combined T-12 of around $4.6 million and $870 million in assets under management.

Carr joined UBS on his own while the other three operate as a team. All of them report to Tom Isaacs, complex director of the Gainesville, FL, office.

Vanare | NestEgg, the wealth management technology platform aimed at RIAs, hired David Coyle as senior vice president of business development.

Coyle was previously part of the wealth management solutions team at Interactive Data Corporation, and before that worked at Northstar Systems International, Research in Motion and Outercurve Technologies.

He spent the first ten years of his career as a private client advisor at Merrill Lynch, and later at First Union (now part of Wachovia).

Jeff Mazer and Katya Baron joined Aequitas Capital to push forward its alternative investments business, based in Lake Oswego, OR, and New York City, respectively.

Mazer, senior managing director of capital markets and treasury, was previously a director within Bank of America Merrill Lynch's global liquidity investment solutions unit.

At Aequitas, Mazer will manage the company's investment offerings and advise management on all matters relating to liquidity and capital structure.

Meanwhile, Baron joined as managing director of capital markets, with 15 years of experience working at firms including as Sterne Agee, Gleacher, Barclays Capital and JP Morgan Securities. She will be responsible for sourcing and structuring new asset financing transactions, as well as capital markets outreach.

Mazer and Baron will report to chief operating officer and chief financial officer, Scott Gillis.

Two former RBC Wealth Management advisors joined Philadelphia, PA-based Janney Montgomery Scott, the wealth management, financial services and investment banking firm.

Gregory Dupée, senior vice president of wealth management, and Scott Karpiak, vice president of wealth management, had formed the Karpiak-Dupée Investment Group at RBC.

Dupée has nearly 30 years of industry experience while Karpiak has over 16, including six years at Charles Schwab, where he helped develop the private client program.

Former Wilmington Trust executive, R Samuel Fraundorf, was appointed as chief investment officer at Diversified Trust, the Southeast-based wealth management firm.

Fraundorf replaced Eli Niepoky, who retired in April, and will be based in Atlanta, GA.

He will oversee Diversified Trust's investment teams across Atlanta, Greensboro, NC, Memphis, TN; and Nashville, TN, serving clients across the US.

At Wilmington Trust, Fraundorf served as director of research, chief operating officer of investments, chief investment officer, and president of Wilmington Trust Investment Advisors. 

He started his career at Arthur Andersen in the mid-1980s, and then served as a lead consultant at KPMG Investment Advisors, where he worked with high net worth investors.

Grupo BTG Pactual shed about 13 per cent of its wealth management workforce in Chile, equal to 10 of 80 total employees, Bloomberg reported.

As previously covered by Family Wealth Report, BTG bought the wealth management firm BSI from the Italian insurer Generali in July 2014.

“We did an adjustment in the wealth management unit in order to fortify our regional composition and to update our structure for the integration with BSI,” BTG reportedly said, according to Bloomberg.

BTG declined to comment on the matter when contacted by this publication.

Vaughn Wealth of Orlando, FL, left NFP Advisor Services and joined Commonwealth Financial Network, the US broker-dealer and RIA firm.

T Kevin Taylor and S Kyle Taylor, along with their team, take $175 million in client assets to Commonwealth and partly made the move because they were impressed by the firm's robust practice management services.

Lebenthal Asset Management hired Barbara Doran as a portfolio manager to focus on large-cap growth equity strategies.

Doran has worked for over 25 years in the financial services industry, with experience in portfolio management, wealth advisory and investment research. She was a senior portfolio manager and wealth advisor at Morgan Stanley and was the former research investment officer at Neuberger Berman, where she co-managed a technology fund and was interim director of equity research.

Previously, she founded and managed a long/short equity hedge fund and a third-party marketing firm that specialized in asset raising and business consulting for hedge funds and private equity firms. She also worked as a senior institutional equity salesperson and proprietary capital manager at First Boston and Lehman Brothers.

Idaho-based Yellowstone Partners recruited Sterling Russell and Kevin Donovan in Boise.

Russell, director of fixed income and senior portfolio manager, has almost 30 years of financial market experience. He spent 12 years as an investment analyst and strategist, and 15 years as a portfolio manager and chief investment officer at a life insurance company, overseeing a $3.5 billion portfolio of bonds, stocks and alternative investments.

Donovan, director and executive vice president, started his financial services career in 1999 at Paine Webber in Las Vegas and later worked at Wells Fargo Investments and Zions Bancorp. Most recently, Donovan was president at Key Bank of Idaho.

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