US Trust/Bank of America has lost its chief investment officer, Leo Grohowski, to rival firm Bank of New York Mellon Wealth Management. The firm replaced Mr Grohowski with an internal hire on the same day. Mr Grohowski left US Trust/BoA two months on from the creation of the business and following the departure of Peter Scaturro, US Trust's chief executive, who was replaced by Frances Aldrich Sevilla-Sacasa, who is now in charge of the combined wealth management entity. Christopher Hyzy will replace Mr Grohowski. Before joining US Trust in 2005, Mr Hyzy was the chief investment officer and head of product strategy for the Latin American Market Region of Citigroup Private Bank. Mr Grohowski will lead all investment strategy and investment management functions for BoNY Mellon wealth management based in New York City and report to David Lamere, vice chairman for the corporation and chief executive officer of BoNY Mellon Wealth Management. His appointment is effective from 17 September. Mr Lamere described Mr Grohowski as "one of the investment industry's leaders". Mr Grohowski said he had been impressed by the calibre of BoNY Mellon Wealth Management's investment teams and described the recent combination of Mellon and The Bank of New York as creating “an industry leader in wealth management”. Before joining US Trust Mr Grohowski was a chief investment officer at Deutsche Asset Management Americas/Scudder Investments. In addition to appointing Mr. Hyzy, US Trust/BoA also appointed Durraj Tase to oversee Capital Markets & Brokerage Advisory, reporting directly to Ms Sevilla-Sacasa. Mr Tase was on the same Citigroup Private Bank Latin America team and served as head of Capital Markets before he joined US Trust in 2005. In addition, Pershing Advisor Solutions, a wealth management consultancy that is a subsidiary of The Bank of New York Mellon, announced a coup by hiring well known industry expert, Mark Tibergien, formerly with Moss Adams. Mr Tibergien was appointed Pershing chief executive officer and a member of the executive committee reporting to Richard Brueckner and Brian Shea, Pershing's chairman and chief executive officer and president and chief operating officer respectively. Mr Tibergien is a nationally recognised expert and consultant on management issues within the Registered Investment Advisory industry. He was previously a partner-in-charge of the Business Consulting Group at Moss Adams, chairman of the Financial Services Industry Group and partner-in-charge of the consultancy’s Business Valuation Group.