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Weekly Round-Up Of Industry Moves

Eliane Chavagnon

16 May 2016

State Street Global Advisors appointed Jim Ross as chairman for Global SPDR and SSGA funds management. Ross is currently head of SSGA’s SPDR exchange-traded funds business and intermediary distribution. As he steps into his new role, Rory Tobin, the firm's head of European distribution, and Nick Good, chief operating officer of the North American intermediary business group, will become co-heads of Global SPDR.

Abbot Downing took on Nancy Amick as a leadership coach to focus on succession planning and the development of next-generation family business leaders. Amick started working at Wells Fargo in 1998 and was previously head of organizational effectiveness and development for the firm's wealth and investment management division. Her team provided strategic consulting in the areas of organizational change and culture as well as leadership development and team performance.

Wilmington Trust recruited John Maher as a senior investment advisor at its New York wealth advisory office. Maher was previously a portfolio manager and senior research analyst at Hilltop Park Associates and before that a senior equity analyst at RBC Capital Markets and a sector portfolio manager at Tupelo Capital Management.

Signature Bank added a new private banking team in both New York City and Greenwich, CT. The New York group joined from First Republic Bank and consists of: Jason Birnbaum, group director and senior vice president; Meredith Epstein, associate group director and vice president; and Vincent Pensato, senior client associate.

Meanwhile, in Greenwich, a five-person team moved from Citibank and is led by group director and senior vice president Jonathan DeMarco. Armand Frusciante, Andrea Lawson and Eduardo Missura were also each named group director and senior vice president, and will be supported by senior client associate Louisa Morrone.

Credit Suisse hired Burkhard Varnholt from Julius Baer as deputy global chief investment officer within its international wealth management unit. Varnholt will assume his new role in November, based in Credit Suisse's Zurich headquarters. He will also become vice chairman of the investment committee and a member of the investment solutions and products management committee. He will report to the bank's global CIO, Michael Strobaek.

Deutsche Bank welcomed back Patrick Campion, who had been running HSBC's US private bank, as head of wealth management for the Americas. With around 30 years of industry experience, Campion was chief executive at HSBC's US Private Bank for almost ten years. He re-joined Deutsche having worked at the firm from 2005 to 2007, during which time he served as CEO of US private banking. Campion, a managing director, is based in New York and reports to Fabrizio Campelli, global head of Deutsche Bank Wealth Management. He replaced Chip Packard, who left in March and now works at Bridgewater Associates.


TIGER 21, the peer network of wealthy investors, expanded into North California with a new Group in Charlotte. Chris Cecil, president of Biltmore Family Office, was appointed as chair of the new group, which is the organization's 23rd. Before forming Biltmore Family Office, Cecil was a partner at GenSpring Family Offices. He also served as president for the Southeast and the Florida regions at  JP Morgan Private Bank and as a managing director at Brown Brothers Harriman & Co in New York and Palm Beach, FL.

Credit Suisse appointed Eric Varvel to its international wealth management division as global head of asset management, effective from June 1. He will report to Iqbal Khan, chief executive of IWM. Varvel succeeded Bob Jain and will be based in New York, while spending significant amounts of time in Switzerland, and in various emerging markets, including the Asia-Pacific region. Jain left for Millennium, one of the world’s largest hedge fund firms, to hold the role of co-chief investment officer.

Melbourne-based MW Lomax Group joined the Focus Financial Partners network in a move signaling Focus' first venture into Australia, which it noted is the largest funds management market in Asia-Pacific.

Wilmington Trust recruited Matthew Glaser as head of equity and non-traditional investments. The firm previously had a chief equity officer, it said, the responsibilities of which were rolled into this new role. Glaser will oversee the equity team and institutional investment group, as well as the manager search group for equities and alternative investments. On top of his primary role, Glaser was appointed as a voting member of the investment committee. He will be based in Wilmington Trust’s headquarters in Wilmington, DE.

iCapital Network, the online investments platform, made three hires within its distribution team. The appointments were: Eileen Duff as head of distribution from Credit Suisse, where she was head of alternative investments for private banking North America; Peter Montgomery from the alternative investments group at Credit Suisse; and Ryan Van Geons, who was most recently a vice president at Fidelity Investments.

Montgomery and Van Geons joined as senior members of the team. Duff will focus on expanding iCapital's pool of private equity and hedge fund offerings available to high net worth investors, family offices, wealth advisory professionals and other experienced investors. Meanwhile, Montgomery will work with Duff on the firm's business development efforts, with an emphasis on broker-dealers, wealth management firms and private banks. Lastly, Van Geons will work with Duff on the RIA and family office segments.

Wilmington Trust appointed Sharon Klein as president of the New York metropolitan region to oversee all wealth advisory services. Klein joined Wilmington Trust in 2013 as managing director of family office services and wealth strategies for the same region. The firm confirmed that she will maintain this role alongside her new one.