A roundup of the moves and appointments in the North American wealth management sector during May.
Raymond James welcomed financial advisors Jay Palmer and Bobby Miller to its independent advisor channel in Fredericksburg, Virginia. The advisors, who operate as Lantern Wealth Management, were previously affiliated with Merrill Lynch where they managed about $120 million in client assets.
Palmer, who is a Certified Financial Planner, previously worked as an advisor at Merrill Lynch from 2018. With over 10 years of industry experience, Miller obtained certifications as both a Chartered Retirement Planning CounselorSM and a Certified Plan Fiduciary Advisor. Previously a senior financial advisor and vice president at Merrill Lynch, he earned his bachelor’s degree in business management from Virginia Polytechnic Institute and State University.
The firm welcomed financial advisor Kevin Cooper to its employee advisor channel. Cooper, who is based in Boca Raton, heads Cooper Family Office Consulting of Raymond James, which specializes in intergenerational wealth management. He was joined by senior registered client service associate Jean Panarello. Cooper, senior vice president, wealth management, has been in the financial services industry for nearly 30 years. He served as a financial advisor with several firms before spending 10 years at Merrill Lynch. In 2005, Cooper transitioned to UBS Financial and Morgan Stanley in 2013.
Raymond James welcomed former Merrill Lynch financial advisors Steve Harman, Mark DeGon and Jake Phillips to its employee advisor channel in Spokane, Washington. At Merrill Lynch, the advisors managed approximately $409 million in client assets. Together, they operate as Panorama Wealth Management of Raymond James and work alongside client service associates Jennifer Jones and Kaitlyn Harman.
Raymond James appointed advisor Dave Sprenkle to join its independent advisor channel in York, Pennsylvania. Operating as Sprenkle Wealth Management, Sprenkle was joined by senior client service manager Theresa Lehigh. They were previously affiliated with Janney Montgomery Scott and managed over $140 million in client assets.
The firm welcomed financial advisor Rob Hrnicek to its independent advisor channel. Hrnicek joined the Plano, Texas team of advisors at Parkway Wealth Management Group. Previously, Hrnicek was affiliated with Wells Fargo where he managed approximately $125 million in client assets. With more than two decades’ financial sector experience, he started his career at Merrill Lynch in 2001.
The chief economist of Raymond James, Scott J Brown, PhD, left the firm after having told the firm late last year that he intended to retire. Dr Brown, who joined the firm in 1993, has advised clients with his analysis and thought leadership on economic affairs for more than 28 years. The Florida-based group appointed Eugenio Alemán, PhD, as Dr Brown’s successor. He joined from the US Department of Energy’s Energy Information Administration where he was also chief economist. Prior to the EIA, Dr Alemán was with Wells Fargo for 16 years, first as a director and senior economist for Wells Fargo Securities, where he covered the US domestic consumer profile, contributed to the analysis of the global economy, and researched the commodities, energy and metals' markets.
PNC Financial Services, the US lender that provides offerings including private banking, said its chief customer officer and retail banking head was retiring. Karen Larrimer stood down after 27 years of working at the bank. Larrimer, who is remaining as the bank's chief customer officer through 2022, has led retail banking since July 2016, after being appointed as chief customer officer in 2014.. Alex Overstrom, PNC's head of small business and deputy head of retail banking, assumed responsibility for leading PNC's retail banking line of business.
Deutsche Bank appointed Elom Kpordze and Bhavin Thakore as managing director and director, respectively, within the international private bank for the Americas. They are based in San Francisco and report to Chris Ainsworth, head of West Coast, international private bank, Americas.
Kpordze was formerly a member of the global banking team at Citigroup, where he also led business development on the West Coast for Citi Private Bank’s employee stock ownership plan lending initiative. Thakore joined from Citi Private Bank where he was a senior vice president and worked with high net worth individuals. He focused on converting a pipeline of prospects into target market clients. Previously, he managed a CitiGold office, as well as offices for US Bank and Wells Fargo Bank.
BNY Mellon Wealth Management made four hires in its New York Tri-State region. It appointed Wing Wilson as regional fiduciary manager, Leighton Cameron as senior wealth manager, Marcy Morgan as principal, private banking and Scott Rickman as client strategist. Wilson, Cameron and Morgan are based in New York City, and Rickman is based in Greenwich, Connecticut. They all report to John Ippolito, regional president, New York Tri-State.
Synovus Bank, based in Columbus, Georgia, named Katherine Dunlevie as president and chief executive of The Family Office at Synovus. Dunlevie has spent her entire financial services career with Synovus, joining the bank as a management associate in 2002. In 2004, she moved to The Family Office, previously known as Synovus Family Asset Management, and served as an advisor until she was named managing director in 2014. In February this year, Synovus changed Dunlevie’s title to president and CEO.
Richard Skae, vice chairman of Morgan Stanley’s Wealth Management Group, died at the age of 65. Skae joined Morgan Stanley in 2006 and had been the vice chair since 2017, following a revamp of the firm’s wealth management structure. Before that, he headed the Eastern division for wealth management, overseeing the advisors in one of two large divisions.
Heritage Trust, a subsidiary of Argent Financial Group, appointed Brooke Henderson as vice president, relationship manager. Henderson is responsible for assisting clients in a variety of areas, including trusts, probate and estate planning and administration. She reports to Michael Romero, president. Henderson previously served as an associate attorney at Berman & Rabin, P.A., where she focused on consumer debt collection.
Rockefeller Capital Management added the Puget Sound Group to its business, building its presence in the Pacific Northwest. The team of five includes: Nick Paget, managing director, and private wealth advisor; Nicole Schafer, senior vice president, PWA; Forrest St. John Kim, VP and PWA; Karen Henderson, AVP and team operations manager; and Tor Fanning, AVP and financial planning analyst.
Robertson Stephens Wealth Management appointed D Ellen Shuman as a director. Shuman has nearly 40 years of industry experience. Shuman, who is a partner emerita and co-founder of Edgehill Endowment Partners, an outsourced chief investment office, was previously chief investment officer of Carnegie Corporation of New York and director of investments at the Yale University Investments Office.
Fiduciary Trust International, a wholly-owned subsidiary of Franklin Templeton, appointed M Lisa Parry Howard as trust counsel based in its Delaware office.
Howard has more than 20 years of financial services and wealth management experience, focusing on trust account administration, fiduciary legal matters, risk assessment, trust account and corporate governance, and account compliance. She joined from the Wilmington Trust arm of M&T Bank, where she served as a trust administration contract attorney, fiduciary administrator, and risk and corporate governance analyst. Earlier in her career, Howard was a trust compliance advisor for fiduciary and Delaware-directed accounts at PNC Bank and Vanguard Private Trust Co. She also served as trust counsel and compliance manager at Christiana Trust Co of Delaware.
Citigroup appointed Valentin Valderrabano as its new chief operating officer for the Citi Global Wealth business. He took the helm from Eduardo Martinez Campos. Prior to this, Valderrabano was the consumer business manager for Citibank Korea.
Working at the US banking group for almost two decades, Valderrabano served in leadership roles across a variety of segments and geographies. He has worked in Spain, London, Greece, Singapore, the US and, most recently, Korea. Before joining Citigroup, he worked at The Coca-Cola Company in the US and Mexico.
Cresset Partners in the US appointed private credit and growth equity figure Tammy Funasaki as its managing director for business development. In her new role, Funasaki, who is based in Los Angeles, is responsible for expanding Cresset Partners’ presence on the West coast. Previously, Funasaki served as head of investor relations at Breakwater Management, a private credit and growth equity firm. Prior to Breakwater, Funasaki was a director for a single-family office, as well as an advisor in Goldman Sachs Private Wealth Management division.
Wealth Management Solutions appointed Melissa Bergeron as client
service manager. Bergeron, who has more than 20 years of
experience in the financial services industry, joined partners
Richard Riva and Martin Lombrano.