People Moves

Who's Moving Where In Wealth Management? – Raymond James, Glenmede, BNY Mellon WM

Editorial Staff, March 30, 2022

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The latest moves and appointments in the North America wealth management industry.

Glenmede
Glenmede, the US investment firm, has appointed Nicholas A Warren as chief investment officer of Glenmede's Endowment & Foundation Management business.

He is succeeding Stephen C Lehman, who is retiring from Glenmede after more than 20 years. Warren, who will be taking charge of investment policy and strategy for more than $11 billion in assets under management, will report to Adam Conish, director of endowment and foundation management, and Peter Zuleba, director of investments.

Before this role, Warren worked for more than 10 years at Brandeis University, where he served as CIO for the institution’s endowment. Previously, he was a managing director and hedge fund consultant at Cambridge Associates, where he managed relationships with endowment, foundation, pension plan and ultra-high net worth family clients across the US, Europe and the Middle East.

“Nick’s background and experience in public, private and alternative investments will complement and enhance our current investment process and philosophy,” Conish said. “We are a nationally recognized boutique outsourced chief investment officer that provides customized solutions to our clients and Nick’s addition to the team will keep us at the forefront of the industry.” 

Warren received a master of business administration in analytic finance from the University of Chicago and a bachelor of arts in anthropology from Northwestern University. He also holds the Chartered Financial Analyst® designation and serves on the board of the Nellie Mae Education Foundation.

Glenmede, founded in 1956, and its endowment and foundation arm's assets under management stood at $11.4 billion as of the end of last year. 

Raymond James
Raymond James has brought in father-and-son financial advisors David Vallie and Mitch Vallie to its employee advisor channel. They are based in Grand Blanc, Michigan.

The advisors operate as Vallie Wealth Management of Raymond James and join the firm from Merrill Lynch, where they previously managed $353 million in client assets. The team includes senior registered client service associate Michelle A Loney. Together, the group works with a variety of clients, including business owners, families, individuals, retirees and foundations.

David Vallie has led a 35-year career in financial services. He began his career with First International Investment Corp, remaining there through several acquisitions, the latest by Morgan Stanley in 2009 and Merrill Lynch in 2012.

Mitch Vallie, David Vallie’s son, spent the first seven years of his career with Merrill Lynch.

BNY Mellon Wealth Management
BNY Mellon Wealth Management has named Kevin Davis as senior client strategist. He works with ultra-high net worth families, business corporate executives, private equity and hedge fund principals and their family offices, as well as foundations and endowments.

Davis is based in Houston and reports to Adam Innerst, market president, Houston.

With more than 20 years’ experience in the sector, he joins from Fidelity Family Office Services, where he served as vice president, business development, providing custody, trading, technology and investment services to single family offices, UHNW families and their advisors. Prior to that, Davis worked at Salient Partners as a divisional director, head of RIA and bank trust division. He also served in various senior leadership roles at Orinda Asset Management, Sun Life Financial, ING, The Hartford and First Trust. He is a CFP® professional and holds a Series 7 license and Series 63 license.

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