People Moves

Executive Moves - March 2010

8 April 2010


Here is the monthly roundup of the moves that took place within the North American wealth management industry during March.

North America

Oppenheimer & Co, the wealth manager, appointed David Fields joined the firm as executive director - investments and branch Manager in its Newport Beach office in California. Fields reports to Bob Okin, executive vice president - national sales.   He previously worked for most of his career at Smith Barney.

Washington, D.C.-based Evermay Wealth Management appointed John  Edwards as senior portfolio manager. Prior to joining Evermay, Edwards was a vice president and portfolio manager with Chevy Chase Trust.

California-based Oak Hill Investment Management hired Mark Anson as a managing partner and chair of the investment committee. Dr Anson comes to OHIM from Nuveen Investments, an asset management firm, where he was president and executive director of investment services.

Morgan Stanley Smith Barney poached a senior wealth advisor, Leif Olson, from Merrill Lynch to join its office in Bradenton, Florida.

UBS's brokerage unit in the US is laying off nearly 200 employees, including about 25 managing directors. The job cuts affect about 1.2 per cent of the unit's 16,925 employees.

Lazard Wealth Management, the US-listed wealth management firm, appointed Andrew Eberhard to the newly-created position of managing director and director of research.

Pictet Funds, the fund distribution arm of the Swiss private bank Pictet & Cie, appointed Paul Bowen as sales manager, UK North. Bowen joins after working for Legal & General for nine years.

Citi Private Bank in the US appointed two senior Barclays Wealth managers to take up posts in the Wall Street firm’s regional divisions.

Michael Smith will join as Midwest regional executive and Mark Connally as Southwest regional executive. The men will join as managing directors and report to Peter Charrington, chief executive of Citi Private Bank in North America.

Mr Smith, who will be based in Chicago, joins from Barclays Wealth where he was managing director and head of the Midwest region.  Mr Connally was managing director and Southwest regional manager.

Jason Chandler, chief of UBS Wealth Management's ultra-high net worth business in the Americas, is shaking up his executive team a month after taking charge of the unit, changing a number of positions. Mr Chandler, who succeeded John Straus as head of the Swiss bank's Private Wealth Management unit on 5 February, installed Frank Minerva as his chief operating officer.

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