People Moves

Who's Moving Where In Wealth Management? – Oppenheimer, Monetary Metals

Editorial Staff September 24, 2024

Who's Moving Where In Wealth Management? – Oppenheimer, Monetary Metals

The latest moves, appointments and personnel changes in the North American wealth management industry.

Oppenheimer
US investment bank and wealth manager Oppenheimer & Co, which has opened a new office in Memphis, Tennessee (pictured), has recruited Alan Richmond, executive director – investments, and Clayton Ellis, director – investments. 

They report to Phil Hall, executive director, who leads the firm's growth initiatives in Tennessee.

Richmond and Ellis are joining from B Riley, where they managed a wealth management services practice. Richmond and Ellis have 15 and 17 years of financial services experience, respectively. 

Ed Harrington is executive vice president of the private client division at Oppenheimer. 

Oppenheimer moved into Tennessee in 2022, when it opened an office in Nashville.

Monetary Metals
Scottsdale, Arizona-headquartered Monetary Metals has added gold investment experts Ronald-Peter Stöferle and Mark Valek to its advisory board. 

Both men will be involved in the firm's build out of its Monetary Metals’ Gold Yield Marketplace® platform. Valek and Stöferle are partners and fund managers of the Liechtenstein-based wealth management firm, Incrementum. They also publish the “In Gold We Trust” report.

“Their understanding and expertise within our industry will provide invaluable insights as we execute our mission to unlock the productivity of gold at greater and greater scale,” Keith Weiner, founder and CEO of Monetary Metals, said. 

In November last year, Dubai-based DD Metals DMCC signed a gold lease agreement to finance DD Metals’ inventory and increase trading volumes. The move was an example of how Monetary Metals’ business model – as profiled here – taps into a desire for yield via the yellow metal. The firm says it offers a unique approach to tapping into the gold story: a yield in gold and paid in gold. It uses the gold to earn more gold. It has been developing the gold yield marketplace™, not for buying and selling gold but to connect gold investors seeking a yield with corporations and institutions who need gold capital and can pay in gold for it.

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