The latest moves and appointments in the North American wealth management sector.

Penn Capital Management
Penn Capital Management has promoted Randall Braunfeld and Bradley Tesoriero from research analysts to senior research analysts.

Braunfeld began his career with Penn Capital in 2015. He covers research of the utilities sector for the firm’s high yield strategies and is the primary research analyst for the firm’s senior floating rate loan offerings. Prior to joining the firm, he was a portfolio manager of a high yield BB rated bond portfolio for First Niagara Bank.

Tesoriero began his career with Penn Capital in 2015. He covers research of the industrials sector and parts of the materials sector for the firm’s equity, high yield and leveraged loan strategies. Prior to this, he was a research associate at CRT Capital, where he focused on distressed debt, equity and high yield research for the media and telecommunications sectors.

Gibraltar Private Bank & Trust
Florida-based Gibraltar Private Bank & Trust has hired Doug Moffitt as its new head of wealth management, the firm said in a statement.

Moffitt joins the firm from US Trust, the private wealth management business of Bank of America, where he was managing director for the investment division.

LightBay Capital
Los Angeles-based middle-market private equity firm LightBay Capital appointed David Leeney as managing director and head of business development, the firm said in a statement. He will be responsible for coordinating LightBay’s deal sourcing and relationship management efforts.

With more than 14 years of business development and investor relations experience, Leeney spent ten years at LA-and London-based firm The Gores Group, serving as head of global origination where he oversaw business development for the firm’s investment vehicles, including its small-cap and mid-cap funds.

Toronto Financial Services Alliance
Toronto Financial Services Alliance, a public/private initiative to enhance the competitiveness of Toronto as a global financial services centre, has appointed Jennifer Reynolds to succeed Janet Ecker as chief executive, effective 2 October, 2017, the firm said in a statement.

Ecker announced her retirement in April this year. 

Reynolds, currently CEO of Women in Capital Markets, a network of professional women in the Canadian capital markets industry, has extensive experience in the financial sector. She has held positions in private equity and risk management at Scotiabank, BMO, OMERS Strategic Investments and Stonecap Securities.