WealthBriefing reported the following people moves in the month of November:
A fund manager at BlueBay Asset Management who ran a fund that has lost more than half of its value, resigned following a breach of internal controls, the London-listed firm said.
London-listed finance group Collins Stewart appointed Collette Wisener-Keating to its investment boutique, Collins Stewart Fund Management, to head up product development.
The Bank of New York Mellon appointed Andrew Dollery as vice president, alternative investment services sales, and Roman Seydoux as vice president, AIS relationship management. Both are based in
Deutsche Bank’s private wealth management division appointed Credit Suisse's UK International Private Banking head Tom Slocock as a managing director and head of PWM
Barclays Wealth added to its financial planning division, with the appointment of Bruce Hendry. He is based at the firm’s
Coutts & Co, the private banking arm of Royal Bank of
Barclays Global Investors-owned iShares, an exchange traded funds provider, hired Nizam Hamid as managing director and head of sales strategy for iShares in
International accountancy and financial services company KPMG added to its investment advisory practice in the UK Midlands region, hiring a senior manager from rival Mercer Investment Consulting. Greg Wright took up the post of director in KPMG’s investment advisory practice.
UK-based asset manager Gartmore Investment Management appointed Dominic Rossi as chief investment officer. He transfers in from
Mr Kleiner joined from private client law firm Withers, where he was a partner dealing with complex multi-jurisdictional trust and succession disputes.
UK-based Jupiter Asset Management appointed four additional private client fund managers. Oliver Burns, William Day, David Blake and William Luttrell-Hunt joined Jupiter from Bestin vest.
Banque Cantonale Vaudoise is restructuring into four divisions as part of a move to build on its traditional strengths in private and institutional asset management and banking services for local residents and businesses.
BCV said Christopher Preston, executive board member and head of the current wealth management division, remains with the group as new chief executive of private banking subsidiary Banque Piguet at the end of March 2009.
Clariden Leu, part of the Credit Suisse banking group, appointed Erich Pfister as the new head of the Middle East & Asia division, and Holger Demuth as the new chief risk officer, as the former occupants of these posts stepped down.
Schroders Private Banking, part of UK-listed investment house Schroders appointed Joanne Chappell to the post of senior relationship manager in
Royal Bank of
Charles Goldman will join Boston-based Fidelity in January 2009, in the newly-created position of president of institutional platforms. He will run its National Financial Services broker-dealer clearing business, its investment advisor unit and its recent campaign to sell clearing and custody services to family offices and hybrid brokers who sell both commission and fee-based products.
Barclays Wealth hired a former principal financial advisor, Zamir Siddiqui, from Alliance Bernstein’s
Morgan Stanley's global wealth management group posted its strongest recruiting week ever, adding 53 financial advisors from its peers.
Michael Durbin, the former chief operating officer of Morgan Stanley’s GWM national sales division, will lead a management team at Fidelity’s Institutional Wealth Services business from early 2009 as president.
RBC Wealth Management poached a UBS team known as Flader Consulting Group that managed more than $1 billion in client assets: Allan Flader, his brothers Michael Flader and Brian Flader, Chris Young and
Separately, Jerry Nichols joined the same office after three years at UBS. He joined as a senior vice president and financial consultant, bringing $160 million in assets under management.
RBC has been on a recruiting spree, having taken on 157 advisors so far this year, up from 89 in the same period last year.
Separately, Minneapolis-based Marks Group Wealth Management Team left UBS on 10 November 2008 to launch an independent advisory firm. The group is led by Bennett Marks, as founder, president and chief investment officer, with managing principals John Feste and Brian Nietzel and financial consultant Jeremy Schmidt.
Evercore Partners, a
ACH Capital Management, a Texas-based registered investment advisory firm, appointed J. Keith Whatley as managing director and senior vice president of national sales and marketing. Mr Whatley joined from the US RIA Robert Harrell.
Wells Fargo, the
Among the business group heads reporting to Wells Fargo executive vice president John Stumpf are David Carroll, senior executive vice president for Wealth Management, Brokerage and Retirement Services. Mr Carroll joined Wachovia's predecessor, First Union, in 1981 and has led Wachovia's Capital Management Group since January 2005.
Bank of New York Mellon Wealth Management appointed Elizabeth Engel as head of private bank lending. In this newly created role, Ms Engel oversees credit administration, underwriting and portfolio risk management.
Another Merrill Lynch executive stepped into a leadership role in the combined Merrill/Bank of
Andrea Orcel was appointed president of international operations for the global banking, securities and wealth management business for the soon-to-be-combined company.
Genworth Financial named Ronald Joelson as chief investment officer, with responsibility for managing the mortgage and life insurer's nearly $70 billion portfolio, according to media reports.
The NYSE-listed firm Raymond James announced it has poached Steve Crabtree, the former UBS advisor with more than $180 million in client assets, as senior vice president of investments for its
Merrill Lynch's global wealth management unit promoted Jim Dickson to be regional managing director of its
Genworth Financial named Ronald Joelson as chief investment officer, with responsibility for managing the mortgage and life insurer's nearly $70 billion portfolio.
Murali Balasubramanian joined Edge Capital Partners as managing director responsible for wealth management in the north-eastern US. He joined from JPMorgan's investment advisor services business. Atlanta-based Edge is a global provider of wealth management and investment advisory services to high net worth families and institutional clients.
Susan Hirshman, who left her practice management position at JPMorgan Chase's asset management division earlier this year, returned to the firm as a wealth advisor. She joined JPMorgan's private wealth management business in the northeast
British Virgin Islands-headquartered law firm Harneys hired Aki Corsoni-Husain into its Regulatory Group from the financial markets and regulatory group of Denton Wilde Sapte in
UBS Global Asset Management in
Mr Okamura took on the role from Christof Kutscher, member of UBS’s group managing board and head of UBS Global Asset Management for Asia Pacific, who had concurrently held the position of President and representative director of UBS Global Asset Management (
Barclays Wealth appointed Steve Wong as
Mr Wong's most recent role was as a business development director at the private banking arm of Citigroup.
The consumer banking heads of Standard Chartered in Southeast Asia and
Wilson Chia, regional head of consumer banking for Southeast Asia, will leave at the end of March 2009, and Christine Ip, head of consumer banking for
Sanjay Nayar, Citi South Asia head joined private equity firm Kohlberg Kravis Roberts in January after an agreed transition period and will continue to be based in Mumbai, where KKR will open an office and build a team.
UBS hired six executives for its Asian wealth management arm in Hong Kong and
Ms Chien joined as a managing director in
Ms Kuan was appointed as an executive director in
HSBC Private Bank appointed Bala Balagopalan as managing director of its Global South Asian Diaspora team in the
International private client law firm Withers hired Ivan Fu as a member of the firm’s
UK-based Arch Financial Products named five new partners, expanding its Middle East and
New chief finance officer Richard Rhodes joined the firm following a number of years in
A former head of technology at Merrill Lynch’s FX and rates derivatives group, Guy Haward joined Arch as its head of corporate and technology development.
Gianpaolo Potsios joined Arch as a partner with a remit to develop global placement and syndication capabilities for the group. He was most recently a partner at corporate advisory group Europa Partners working with a range of European financial institutions on corporate finance issues.
New compliance officer Alex Hartley was most recently a partner at ODL Securities where he had responsibility for compliance and anti-money laundering and helped grow the firm of 26 to a global business of 220.
Simon King, now head of real estate, previously managed a £200 million Jersey-based commercial property investment company that he founded in 2004.
BNY Mellon Asset Management, the global asset management arm of Bank of New York Mellon, has appointed Thomas Connolly as managing director, head of asset management, for the
He will report to Pauline Stuart, executive director of institutional business for Europe, Middle East and
Merrill Lynch added to its Nordic wealth management team with the appointment of financial advisors Frode Andersen and Paul Boström.
Stockholm-based bank D Carnegie & Co changed its management team with three internal promotions. The new managers maintain their old roles in addition to their new titles.
Claes Johan Geijer is the new group head private banking. He maintains his role as managing director of Carnegie’s private bank in
Peter Baekgaard is now group head of securities, an expansion of his role as head of securities in
Following the separation of Carnegie and Max Matthiessen, its insurance and pensions arm, Christoffer Folkebo, chief executive of the latter, is no longer a member of Carnegie’s management team.
Liechtensteinische Landesbank appointed Roland Matt as head of domestic and institutional markets, and Kurt Mäder as head of the corporate services. Elfried Hasler took over the international market business area. Josef Fehr continues as chairman of the group executive board. Due to the age cap of 57 for senior executives, Norman Oehri is stepping down from the board. In future he will focus on client care and service within the LLB Group.
Deutsche Bank promoted two of its senior employees, Michele Gissi and Roger Naylor, as heads of global equity derivatives, as part of a restructuring of the unit which has reportedly suffered significant losses.
Mr Gissi has been with Deutsche for 12 years and Mr Naylor has worked at the Frankfurt-listed bank for 10 years.
Richard Carson, former global head of equity derivatives and Nino Kjellman, head of
Professional and investment advisor and fund manager Smith & Williamson hired Mark Pignatelli to manage its European Growth Trust. Mr Pignatelli’s experience in investment management includes 13 years at Baring Asset Management where he made a name as head of European equities. He joined from Remus Capital.
Frédéric Genet was appointed as managing director of Société Générale Bank & Trust in
BTG, the Brazil-based investment firm, named Christian Deseglise its new partner in charge of business development. Mr Deseglise is responsible for product development, investor relations and marketing activities, based in BTG´s New York offices.
International wealth and professional services firm Maitland hired Tim Brown, former managing director of Aqute Business Intelligence, as head of information technology for its worldwide operations. Dr Brown is based in Maitland's
UBS in the
UBS appointed Philip Lofts as group chief risk officer and a member of the Swiss bank’s group executive board. He was most recently deputy group chief risk officer and group risk chief operating officer.