CNB subsidiary hires a business developer from Bel Air Investment Advisors. Multifamily office Convergent Wealth Advisors (CWA) has hired Duncan Rolph, formerly an investment consultant with Bel Air Investment Advisors, as a managing director for business development in its Los Angeles office.

"California represents an important market for Convergent, with tremendous growth potential," says CWA's chairman and CEO Steve Lockshin. "We are confident that Duncan will play an important role in helping lead our expansion efforts here."

At Bel Air, a Los Angeles-based investment advisory to wealthy individuals, families, and foundations with $20 million or more in investable assets, Rolph was responsible for bringing in new business and for ongoing client service.

Parental ties

Rolph joined Bel Air in 2004 from software diagnostics provider Imaging Portals, where he was head of business development. Three years earlier Imaging Portals had merged with Dealersource, an online marketplace for off-lease and used business equipment that Rolph co-founded.

At CWA, Rolph's new responsibilities include expanding CWA's presence in Southern California and, with a similar end in view, building its relationship with Los Angeles-based City National Bank.

City National purchased CWA from Palm Beach, Fla.-based Lydian about 15 months ago.

In his role as a business developer, Rolph will help prospective private and institutional clients see what CWA can do for them in terms of customized investment plans and wide-ranging wealth strategies.

"I am very excited about the opportunities that lie ahead for Convergent," says Rolph. "With its institutional-caliber investment platform, [CWA] is uniquely positioned to bring endowment-like investment solutions and service capabilities to the ultra-affluent marketplace on the West Coast."

Rockville, Md.-based CWA -- formerly Lydian Wealth Management -- provides investment advice and wealth-management services to private clients with at least $10 million in investable assets. It has nearly $9 billion in assets under advisory.

Bel Air oversees over $5 billion in assets, according to an undated "fact sheet" on its website. -FWR

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