The latest senior moves in the North American wealth management sector.

Los Angeles Capital Management
Los Angeles Capital Management, a global quantitative equity firm, has promoted Dr Edward Rackham to co-chief investment officer, and Brad Rowe to chief research officer.

Dr Rackham has been at the firm for more than 11 years, working with the portfolio management, research, and trading departments. In his former role as co-director of research, he oversaw the risk management and portfolio construction tools used at the firm.

In his new role, Dr Rackham will serve with Hal Reynolds, as co-chief investment officer. 

Prior to joining the firm, Dr Rackham spent six years at Wilshire Associates researching and developing risk and portfolio analytics tools. Before this, he was an instructor in mathematics and physical chemistry at the University of Oxford, where he also earned his doctorate.

Brad Rowe, who joined Los Angeles Capital Management in 2007, has worked with the factor research group defining, constructing, and evaluating the factors used in the Dynamic Alpha Model. In addition, Rowe has contributed to factor forecasting and the firm’s model evaluation process. 

Founded in 2002, Los Angeles Capital Management is a global quantitative equity firm, managing $26 billion (as of September 30, 2022) for institutional clients in North America, Europe, the Middle East, and Australia. It is entirely owned by its employees and the firm's wholly-owned subsidiary, LACM Global, Ltd, which is located in London.
 
Raymond James
Raymond James has welcomed former Merrill Lynch financial advisors Abbie Osterbur and Niralee Patel to the firm’s employee advisor channel in Champaign, Illinois.

At Merrill Lynch, the team oversaw more than $160 million in assets for a variety of clients, including corporate retirement plans, families and women investors. Their team, which includes senior client service associate Erika Burian, operates as Osterbur Patel Wealth Management of Raymond James.

Osterbur began her decade-long career in financial services at Merrill Lynch in 2012. She is a Certified Financial Planner and a Certified Plan Fiduciary Advisor. Patel, who has been in the financial services industry since 2009, began her career at Regions Bank before moving to Old National Bank in 2012. She joined Merrill Lynch in 2013 and became a financial advisor with the company a year later – a position she held for nine years. 

Raymond James & Associates is a wholly owned subsidiary of Raymond James Financial, which in total has about 8,700 financial advisors throughout the US, Canada and overseas. Total client assets are approximately $1.09 trillion as of September 30, 2022.