- October 5, 2009 - People Moves: September 2009
North
America
Sallie Krawcheck,
the incoming wealth management head at Bank of America,
unveiled her new leadership team.
The line-up includes eight executives from the
former Merrill Lynch,
two from BoA and a new hire
from Citigroup as
her direct reports.
Ms Krawcheck put former Merrill executive Lyle
LaMothe in charge of the bank’s US brokerage force.
- October 2, 2009 - Northern Trust Names New Regional Wealth Management Chief
Chicago-based Northern Trust has named Patrick Everett as the new president of its North Texas wealth management operations, while also announcing the appointment of a new managing director for its Dallas office.
Mr Everett was latterly chief investment officer for Northern Trust’s western region, covering California, Washington and Nevada. In his new role overseeing the bank’s investment management, fiduciary and banking services in North Texas he will be based in Dallas, reporting to Southwest region president Steve MacLellan.
- September 30, 2009 - Northern Trust Revamps Risk Reporting Tools
Chicago-based Northern Trust has enhanced its online risk reporting tools to provide additional risk attribution and value at risk (VaR) analysis capabilities.
The enhancements are aimed at assisting users in their analyses by providing an integrated view of historical risk and performance data. As such, the tools’ existing “ex-ante” (forecasted) functions have been supplemented with “ex-post” (historical) calculations.
- September 24, 2009 - 8th Annual Family Office Symposium
Your family and wealth managers have never faced so many challenges
What are the most viable liquidity solutions and post-meltdown investment strategies?
How can you ensure your family and wealth are protected from scandal and fraud?
Who can you really trust to manage your wealth and what is needed to rebuild damaged relationships with advisors?
What steps should you take today to proactively preserve your wealth in the long term?
How do you reconcile your vision and values with the next generation’s goals to ensure your family’s lasting legacy in a changing world?
An event l. . .
- September 24, 2009 - Big Success For Bank-Sponsored Charity Art Auction
As an example of how banks continue to sponsor good causes despite having the excuse to focus on their own affairs, a charity art auction, sponsored by US-based Northern Trust and held in London recently, has raised a total of £457,450.
The event was called Art for Africa, described by Northern Trust as the first auction of contemporary South African and British art to take place at Sotheby’s. The money will be sent to help orphaned and vulnerable children in South Africa.
- September 10, 2009 - Wealth Management Congress
Wealth Management Congress was a 3-day exclusive event specially descigned for senior level executives of wealth management management firms to discuss issues and challenges faced by the industry in today's volatile market. By all accounts, the event was a great success and we are already working on next year's program. At this time, we welcome any feedback/suggestions for the 2010 conference.
- September 2, 2009 - Executive Moves - August 2009
UK
JP Morgan Asset Management has appointed Pierre-Yves Bareau as head of emerging market debt, the Wall Street Journal reports.
Mr Bareau joins the company from Fortis Investments, where he worked as chief investment officer for emerging market debt for more than ten years.
The Financial Services Authority, the UK regulator, has appointed Julian Adams as director of its retail firms division.
- September 2, 2009 - Northern Adds Fee-Rebate Application To Its Systems
Chicago-based Northern Trust has added a fee-rebate feature to its UK and offshore client services system.
The automatic report-generating software has been added to the company’s transfer agency product, used by Northern Trust's asset managers in the UK, Ireland, Luxembourg and the Channel Islands.
It is hoped the application -which helps advisors calculate management fees, agent trailer fees and register fee rebates - will enhance straight-through processing and risk management.
- September 2, 2009 - Northern Trust Rolls Out System To Track Private Equity Fund Behaviour
Chcago-based Northern Trust has launched a reporting application for modelling private equity fund behaviour.
Private Outlook, developed jointly by Northern Trust and Sand Hill Econometrics, uses data from 1,500 partnerships over 15 years to generate a picture of capital calls and distributions in private equity programs.
It is hoped the service will help investors in anticipate short and medium term cash flow requirements, improving their ability to manage liquidity.
- August 5, 2009 - Northern Trust Names Channel Islands WM Chief
Chicago-based Northern Trust has appointed Lesley Hodgson as head of wealth management in the Channel Islands – a newly created position based in Guernsey.
In her new role Ms Hodgson assumes responsibility for overseeing all of Northern Trust’s wealth management clients serviced in the region and reports to Aïda Molineux, head of Northern Trust’s EMEA wealth management group.
Ms Hodgson has been with Northern Trust since 1995, when she joined the bank as a portfolio manager.
