The pace of moves within the wealth management industry continued to be strong in April, with a number of firms, including JP Morgan Private Bank in the US, stating their intention to significantly increase headcount.
Saffery Champness promoted Jonathan Fox, previously executive partner, to managing partner and appointed Rob Elliott as finance partner after eight years in the managing role.
Fox was previously chief executive of both a law firm (Collyer Bristow) and barristers' chambers St Philips.
Nucleus, the UK-based platform business, appointed Danby Bloch as a non-executive director, a role in which he is charged with ensuring that the interests of the business’ growing IFA community continue to be represented at the highest level.
Bloch is also chairman of IFA firm Helm Godfrey and of Taxbriefs Financial Publishing, which produces many of the UK’s Chartered Insurance Institute’s educational materials.
Peter Mann assumed the CEO role at Old Mutual’s UK wealth management business, Skandia, having previously been chief development officer. Mann succeeds Nick Poyntz-Wright, who will remain with the group until July.
Parmenion, the UK-headquartered discretionary management platform, appointed Ben Fowler as a regional sales manager in the UK, responsible for London and the South East. Prior to joining Parmenion, Fowler worked at Skandia for four years.
Hargreaves Lansdown, the UK-based wealth advisory firm, announced that its chief executive and co-founder, Peter Hargreaves, is to step down in the autumn of this year.
Ian Gorham, who has been the firm’s chief operating officer since September 2009, will succeed Hargreaves once he has stepped down. Hargreaves will remain an executive director, focusing on client liaison as well as being involved in producing the firm’s newsletters and investment information.
Invesco Perpetual, the UK-based fund manager, appointed Nick Mustoe to succeed Bob Yerbury - latterly CIO of Pictet Asset Management - as its new chief investment officer.
Mustoe will take up his new role on 7 June, whereupon he will work closely with Yerbury to ensure a smooth transition of responsibilities, the firm said
Having relinquished the role of CIO, Yerbury will continue to work with James Robertson, the firm’s chief executive, in his capacity as a senior managing director and a member of the Invesco Perpetual management team.
Neil Pegrum, manager of Cazenove Capital’s UK Dynamic long-short funds, departed the firm to join Soros Fund Management.
Paul Marriage has taken over responsibility for Cazenove’s Absolute UK Dynamic Fund and UK Dynamic Absolute Return Fund; previously Marriage worked with Pegrum on both funds as co-manager. Julie Dean, who manages the firm’s UK Opportunities Fund, has taken over as manager of the Cazenove UK Dynamic Fund, which Pegrum previously ran alone.
Coutts, the private banking arm of the Royal Bank of Scotland, appointed Matt Marsden as a private banker in Cardiff.
Marsden was most recently with HSBC Bank, also in the Welsh capital, where he was a financial advisor.
HSBC Private Bank appointed Daniel Ellis to the new role of managing director and head of Private Bank Investment Group, UK & Channel Islands, based in London with effect from 14 June 2010.
Ellis will report locally to Declan Sheehan, CEO, UK & Channel Islands, and functionally to Nigel Webber, chief investment officer and global head of PBIG. At a global level, he will work closely with the other investment heads: Tom Moore in the Americas, Jean-Cristoph Gerard in Switzerland, Olivier Pacton in Asia and Peter Rigg on alternative investments.
He is currently head of structured products for HSBC Private Bank (Suisse).
Merrill Lynch Portfolio Managers appointed former Adam & Co investment manager Simon Steele to the role of senior portfolio manager in London.
While at Adam & Co Steele was head of stock selection and responsible for a number of key relationships including charities, pension funds, trusts and private individuals. Prior to this, he was appointed by Durlacher to start a small retail fund management business.
Mercer, the UK-based consulting and investment services firm, appointed Will Oulton as the new European head of responsible investment within its investment consulting business.
Oulton joins Mercer from FTSE Group where he was director of responsible investment, a role in which he oversaw the management and development of FTSE's responsible investment services, including the FTSE4Good, FTSE KLD, and FTSE Environmental Markets indices.
Smith & Williamson Investment Management hired Heather Maizels – latterly a director at Barclays Wealth - as a consultant.
Zenith Bank (UK) appointed Ratna Kakkar as head of wealth management in London, joining the firm from The Standard Chartered Private Bank.
Kakkar, in addition to her previous role at StanChart, has also worked at ABN Amro and Barclays Private Bank in London.
Barclays Wealth boosted its Isle of Man-based team with the hire of Geoff Gelling as a senior relationship manager.
He is charged with spearheading the firm’s client relationship service, including its Premier service. His former roles include those of managing director at Isle of Man bank and director of retail banking at RBS International.
The bank has also hired Gill Baker as human resources business partner, a newly-created position also based on the island. Baker joins from Microgaming Software Systems, and has also previously worked at Lloyds TSB and RBSI.
Coutts appointed Robert Woodthorpe Browne as client partner for its Reading office.
Woodthorpe Browne was latterly a senior private banker at BNP Paribas Fortis, having previously worked for Adam & Company, where he was a senior manager within the private bank’s London office.
Perspective Financial Group, the UK IFA consolidator, appointed Ian Wilkinson as group practice director.
Wilkinson is a managing director of Rutherford Wilkinson, a Perspective IFA; he will continue in this role in addition to coordinating efforts and relationships throughout the group’s firms.
Credit Suisse Private Bank recruited Karla Borland, latterly head of research at Investec Private Advisers, to take up the role of vice president, fund advisory and analysis.
Borland joined Investec Private Advisers in 2003 and took up the head of research role in 2008, following which she developed a quant method for fund selection across asset classes, according to the report.
In her new role Borland succeeds Rene Pyszko, who has reportedly joined Commonwealth Private Office as head of investments.
Throgmorton, a London-based firm which provides business, financial and administrative outsourcing to the hedge fund, private equity, and corporate finance sectors, expanded its tax team with two new senior hires.
Raminder Chowdhary has been appointed the firm’s new head of VAT, while Stephen Smith has taken up the role of tax manager.
Chowdhary joins from KPMG, where he specialised in VAT matters relating to UK and European financial services, while Smith was latterly with the international accountancy firm Mazars.
Mercer appointed Paul Richards as the head of the European real estate boutique based in London within the firm’s investment consulting business.
Previously Richards was head of indirect investment and global managed accounts at LaSalle Investment Management, where he was responsible for managing global portfolios of unlisted real estate finds for clients from Europe and Asia.
Syndicate Asset Management, the UK-listed fund management group which owns Ashcourt Rowan and Savoy Investment Management, appointed Neil Hale as its new chief financial officer and a director of the company.
Hale has been an employee of Syndicate and its subsidiary companies since December 2004. His most recent position within the group was that of Syndicate Group financial controller, a post he had held since November 2009.
UK based Octopus Investments hired Thierry Serero to spearhead fund management of European assets.
Serero has been working with Lothar Mentel, Octopus’ chief investment officer, for the past couple of months planning and structuring the firm’s new European Absolute Return Fund.
Withers, the international law firm, expanded its European Commercial practice with the appointment of Kenneth Mullen as a partner in its London office.
Mullen specialises in transactional intellectual property, technology and outsourcing, and his expertise also covers technology-sector regulation particularly data protection/freedom of information, e-commerce and competition law. He joins Withers from Shepherd and Wedderburn, where he was a partner in the media and technology team.
Thomas Eggar, a regional law firm based in the South of England, appointed Richard Jordan as head of its private client group.
Based in Chichester, he is responsible for leading the private client team. In this role he succeeds Patricia Woolgar, who will stay with the firm and continue to work within the private client team.
Jordan joined Thomas Eggar from Stevens & Bolton in March 2008; prior to this he worked in the offshore tax team for City law firm Lawrence Graham.
UK-based Ashcourt Rowan appointed John Page has been appointed conference and recognition manager. He joins the firm from Lloyds TSB, where he spent the last 17 years delivering motivational incentive programmes.
Mortant Wright, the UK-based asset manager, appointed Denis Clough to work across all four of the firm’s funds. Clough, who will be part of a team of six in his new role, formerly worked on Schroders’ Tokyo fund between 1985 and 2004. He left the fund in March 2004 and took a break from fund management before leaving the firm in 2007.
Aviva Investors, the UK-based asset management arm of the insurance firm Aviva, appointed Andrew Lake as fund manager of the group’s high yield bond fund.
According to reports, Lake has been brought in to take pressure off Chris Higham, who has been running both the high yield bond and the corporate bond fund on an interim basis. Now, Higham will take on the lead management of the corporate bond fund.
Lake joins from F&C where he co-managed European and global high yield portfolios.
Additionally, James Vokins was appointed manager of the monthly income plus fund. He joined the group in 2005 and then worked as an investment analyst before taking on several investment grade institutional funds in 2008.
Martin Currie appointed Ruairidh Stewart to co-manage its $110 million Global Resources Fund alongside Chris Butler and Duncan Goodwin.
Stewart joined Martin Currie’s resources team in 2007 and is already co-manager of the long-only Martin Currie Global Energy Fund with Goodwin.
Quilter continued its regional expansion programme with the addition of Gillian Bailey, an investment manager, to its Glasgow office.
Bailey joins the firm from Cornelian Asset Managers in Edinburgh, where she was an associate director.
HSBC Private Bank bolstered its Global South Asian Diaspora team with the appointment of Inderjeet Hora - formerly of Merrill Lynch - as a director.
Reporting to Mike Mount, managing director, GSAD, Europe & Americas, in London, Hora will focus on ultra high net worth non-resident Indian clients in the UK and Europe and will co-manage the UK market alongside Kurien Korah, head of the UK GSAD market.
While at Merrill, Hora was head of Europe, Switzerland and Dubai for non-resident India business, having previously been with Citibank in India, Kenya, Muscat and London.
Credit Suisse appointed Richard Killingbeck as head of its regional UK private banking business, succeeding Richard Algar who is to relocate to London to lead Credit Suisse’s private banking business focused on entrepreneurs and corporate executives in the UK.
Killingbeck was latterly chief executive of Close Brothers’ private asset management business, a role in which he oversaw the management of high net worth private clients, small pension funds and charities.
Succession Advisory Services, the UK-based IFA consolidator, recruited Frank Dixon, Richard McGarvey and Ian Smith as relationship directors.
Dixon joins from Zurich Financial Services; McGarvey joins from Acumen and Smith joins from 2Plan Wealth Management.
In addition, Keith Brown and Martian Vaughan were appointed to the firm’s newly-formed implementation team. In their new roles they will support transitioning member businesses and will report to director Stuart Anderson.
Hassium Asset Management appointed Marco Naumann as managing director of European operations based in Zurich.
Most recently Naumann was an advisor to the executive committee at Quilvest Switzerland, the international multi-family office.
Brooks Macdonald Group, the UK-listed wealth management and investment advisory firm. appointed Nicholas Holmes and Andrew Sheperd to its board.
The men have both been joint managing directors of the firm since 31 October 2008.
Defaqto, the independent financial research company, appointed Zahid Bilgrami as chief operating officer.
Bilgrami joined from Balfour Beatty, where he was responsible for developing corporate strategy and the execution of non-organic growth through acquisitions.
Fidelity International appointed Ben Waterhouse as head of UK wholesale sales, a position in which he will work closely with wealth managers.
Waterhouse joins the firm from Legal & General Investment Management, where he was latterly head of sales. At Fidelity he will report to Gary Shaughnessy, UK managing director.
In his new position Waterhouse will assume responsibility for building on existing relationships with wealth managers, retail banks, insurers and the discretionary market. He takes over these responsibilities from Peter Hicks, head of UK retail sales, who has been caretaking them since the departure of Michael Jones to Janus Capital in 2008.
Merrill Lynch Wealth Management appointed Nick Booth as a business development director within Merrill Lynch Portfolio Managers (MLPM).
In his new role Booth will be based in Jersey; working with the wealth structuring and advisory teams, his focus will be on ultra high net worth clients and trust companies in the Channel Islands.
Booth was latterly a client director at Newscape Capital Group, where he was responsible for international and domestic intermediary business development in the UK and Europe.
UK based LV Asset Management appointed Toby Vaughan as principal fund manager in the LV multi manager division.
Vaughan joins LVAM from F&C, where he was a director in the asset allocation team. In his new role he will report to Tom Caddick, LVAM’s head of multi manager and fund selection. He will work alongside Simon Brooks.
UK-based Olivetree Securitie appointed two new executives, Timothy Daniels and Siobhan McGeever.
Daniels will focus on the Telecommunications, Media and Technology sector, working within the firm’s sector strategy group. He joins Olivetree from Panmure Gordon, where he was director of equity sales.
McGeever will work within the firm’s distribution group. She joins Olivetree from Knight Capital Europe, where she was vice president and sales trader for European and US cash equities.
Alec Letchfield was named chief investment officer of HSBC Global Asset Management's UK private client business.
Letchfield takes over from Jim Dunsford, with whom he had been working to develop and maintain investment processes and strategies across the investment teams.
Before this appointment, Letchfield was head of UK equities in the UK private client business and managed the HSBC UK Focus fund.
Dunsford will in future focus on managing the HSBC GIF Global Macro fund.
London-based Thurleigh Investment Managers appointed Amy Goddard to the newly-created role of sales and marketing executive as part of its ongoing expansion plans.
Goddard joined the firm from Cantor Fitzgerald, where she was a client relationship manager, and before this she worked for Singer & Friedlander.
In her new role Goddard will assist David Rosier, chairman, in business development, sales and client relationship management. She will also collaborate with the investment team on new business presentations and client communication.
RBC Wealth Management recruited Sarah Macdonald, who was latterly with Barclays Wealth, as part of its drive to ramp up its London-based UK onshore business.
Chief operating officer and head of finance of the investment banking division David Mathers is to succeed the retiring Renato Fassbind as chief financial officer of Credit Suisse on 1 October 2010. Fassbind will remain with Credit Suisse as a senior advisor.
Thomas Mueller has been named as the new chief financial officer at Swiss private bank Sarasin. Mueller was previously group CFO and chief risk officer for the Swiss Life group.
Swiss private bank Mirabaud & Cie, one of the few remaining in which managing partners have unlimited liability, appointed Giles Morland as a partner, effective 1 January 2011.
Credit Suisse has appointed Michael Wyss head of private banking and CS regional head in Rapperswil-Jona in the canton of St Gallen, and Marcel Burger head of private banking and regional head of Credit Suisse in Kreuzlingen in canton of Thurgau. Wyss takes up the post as head of the private banking business in the Linth/Rapperswil-Jona region, following the departure of Caspar Hungerbühler, who has moved internally to Credit Suisse in Singapore.
Merrill Lynch Wealth Management has appointed Patrick Ramsey as general manager and chief executive of Merrill Lynch Bank (Suisse). Ramsey will be based in Geneva and reports to David Jervis, head of EMEA Merrill Lynch Wealth Management, the firm said today. Ramsey takes over from Serge Robin, who left to join the Swiss private bank Gonet & Cie, in March.
Unigestion, the Geneva-based asset manager has appointed Philippe Gougenheim as managing director and head of hedge funds. Gougenheim will join Unigestion from Man Investments, where he was a senior portfolio manager, chairman of the investment committee and head of strategic research and management. Prior to that, he was managing director at Millennium Capital Management.
The Swiss arm of Sal Oppenheim, the Luxembourg-based private bank which was recently acquired by Deutsche Bank, has appointed Gérard Piasko – formerly of Julius Baer – as its new chief investment officer. Piasko joins Sal Oppenheim (Switzerland) after having been the CIO of Julius Baer since the end of 2001. Prior to this he was chief global strategist for Credit Suisse private banking.
The Swiss arm of Sal Oppenheim, the Luxembourg-based private bank which was recently acquired by Deutsche Bank, has appointed Gérard Piasko – formerly of Julius Baer – as its new chief investment officer. Piasko joins Sal Oppenheim (Switzerland) after having been the CIO of Julius Baer since the end of 2001.
EFG Bank, EFG International’s business in Switzerland, has recruited Walter Arnold as its new head of private banking in Zurich. Arnold was at UBS from 2004, and before that at Credit Suisse.
Morgan Stanley Smith Barney, the wealth management joint venture between Morgan Stanley and Citi, reportedly announced two leadership changes within its investment consulting group.
Marc Brookman was appointed to the newly-created position of director of sales, while Thomas Butler was named head of products and platform development. Both Brookman and Butler were appointed internally. Brookman had led the consulting group’s product and platform development since 2007 (coming from the Citi side of the joint venture). Butler, meanwhile, who was also a Citi employee, had been director of business development and operations for the investment consultant unit for two years. He maintains these responsibilities in his new role.
Marc Brookman has been appointed to the newly-created position of director of sales, while Thomas Butler has been named head of products and platform development, according to the publication. Both Brookman and Butler have been appointed internally.
The consulting group, formed from the two legacy firm’s consulting units, provides products and services to MSSB’s financial advisors.
According to the report, Brookman has led the consulting group’s product and platform development since 2007 (coming from the Citi side of the joint venture). Butler, meanwhile, who was also a Citi employee, has been director of business development and operations for the investment consultant unit for two years. He will maintain these responsibilities in his new role.
Wells Fargo Private Bank, part of New York-listed Wells Fargo, reportedly hired two advisors from US Trust, Bank of America’s private wealth management arm.
Amy Sahler, a senior trust and fiduciary advisor, and Susan Walton, an investment manager specializing in high net worth clients, join the firm’s Boston office.
Gottex Fund Management Holdings, the independent global alternative asset management firm, appointed Debra Rothman as managing director, head of North American sales and marketing, and Mark Oestergaard as marketing director in Europe.
Rothman, based in Boston, focuses on marketing and business development in North America. She was most recently head of business development at SCS Financial, leading the expansion of its fund of hedge funds effort.
Oestergaard, based in London, focuses on sourcing and servicing northern-European opportunities. He was latterly with London and Capital, an asset management company, where he worked closely with Nordic institutions.
The board of directors of Bank of America, the world’s largest wealth manager via its purchase of Merrill Lynch, named Charles Holliday as its chairman, succeeding Dr Walter Massey.
A senior figure in the business world, Holliday was formerly chairman of the board of directors of EI du Pont de Nemours and Co, a position which he held for around ten year; he was also chief executive of the chemical giant from 1998 to 2008. He has also served as a director of Bank of America since 2009.
WSFS Financial Corporation, the parent firm of WSFS Bank, appointed William Gallagher as financial advisor for WSFS Investment Group.
Gallagher was previously a financial advisor at Fulton Financial Advisors in Pennsylvania. Prior to that, he was the regional marketing director for Hartford Insurance Company in New York.
The annual general meeting of Washington Trust Bancorp, the parent company of The Washington Trust Company, highlighted that its chairman and CEO, John Warren, will retire on 30 April. He will be succeeded by Joseph MarcAurele, currently president and chief operating officer.
Also at the meeting, Warren was elected to the company’s board of directors for a term ending 2013; also elected were Barry Hittner, Katherine Hoxsie, Edward Mazze and Kathleen McKeough. In addition, tribute was paid to Neil Thorp, who is retiring from the board after 27 years of service.
California-based City National Bank hired Jacqueline Parker as vice president and senior private banker in its private client services division in Nevada. She is based at the bank's Summerlin Regional Center in Las Vegas and Reno, reporting to Randy Boesch, senior vice president and manager of City National's Nevada private client services division.
Parker joins from Colonial Bank in Las Vegas where she was most recently executive vice president and private banking director.
Collins Stewart, the wealth management and brokerage firm, appointed Paul Prentice to head a new sales trading and trading team in Minnetonka, Minnesota.
Prentice, who joins Collins Stewart from Pali Capital where he co-founded the firm’s Minnetonka office, will be joined by his team of four generalist sales traders including John Burkhartzmeyer, Greg Pfleider, Matthew Dorn and Peter Thompson.
Burkhartzmeyer and Pfleider have been appointed as managing directors; Dorn has been appointed director, and Thompson joins the firm as vice president.
Balentine, the Atlanta-based investment and risk management firm, named former Shanghai Stock Exchange executive manager Yulong (Clark) Li as global investment research director.
Clark Li previously led the SSE's research department, where he was responsible for a team conducting studies on investment strategy, market structure, trading mechanisms and market regulation. Prior to that, he was a portfolio manager and senior analyst at Wilmington Trust Investment Management and Waddell & Reed Financial.
Also joining the firm is Robert Reiser, previously the chief investment officer of Wilmington Trust, as senior investment advisor. Before joining Wilmington, in 1982 he founded The Reiser Company, an investment management and consulting firm which eventually merged with Balentine in 1998.
First Republic Bank, which provides private banking and wealth management services, appointed Stacy Benner as a senior relationship manager, based in the firm’s Portland office.
Benner works with high net worth individuals, families, businesses and foundations, providing private banking, private business banking, investment management and trust services, and real estate lending services.
Prior to joining First Republic, Benner worked for Wells Fargo Bank as a private loan and mortgage banker.
US Bancorp announced that Terrance Dolan, its controller, will take over from Diane Thormodsgard as vice chairman of its Wealth Management and Securities Services division.
Thormodsgard, who has worked at the firm since 1978, will retire at the end of June.
Meanwhile, Jeffry von Gillern will take the place of William Chenevich, who is also leaving the firm at the end of June, as vice chairman of US Bancorp's Technology and Operations Services unit.
Pardus Capital Management, the New York-based alternative investment manager, announced that it has recruited Dr Lutz Stoeber to rejoin the firm as a senior analyst to evaluate distressed investments in western Europe, particularly focusing on Germany.
Prior to joining Pardus, Dr Stoeber was an investment professional at WR Huff where he worked alongside Samii and Joseph Thornton, Pardus principal and portfolio manager. Prior to that, he was a member of D George Harris & Associates, an international leveraged buyout firm.
UBS announced that Shawn Lytle is to take over from Kai Sotorp as head of Global Asset Management Americas.
Lytle, currently deputy global head of equities, will move to New York from London and divide his time between there and Chicago, reporting to John Fraser, chairman and chief executive of UBS Global Asset Management.
Sotorp will assist with the transition and then take three months leave before coming back to a new role within the business.
BNY Mellon Wealth Management hired Jane Staunton as sales director under its New York Tri-state region.
Staunton has 30 years of experience in financial services and was most recently a financial advisor at Bernstein Global Wealth Management. She is also a former executive director and head at Morgan Stanley Capital International Europe.
UBS Wealth Management Americas added David Ciccone, Robert Taylor, and Tom Harsanyi as financial advisors to its Vienna, Virginia office.
Ciccone, Taylor and Harsanyi joined from Bank of America Merrill Lynch Wealth Management, where they each worked for nearly five years. The team reportedly had $2.1 million in combined annual production and managed $210 million in assets under management.
The team will report to Craig Vandegrift, branch manager.
First Republic Bank, the San Francisco-headquartered private banking and wealth management division of Merrill Lynch, appointed Beverly Buker as senior managing director.
In her new role, Buker works with high net worth individuals and families, businesses and foundations, providing private banking, private business banking, trust services, and real estate lending services as well as investment management services through the firm’s brokerage affiliate, First Republic Securities Company.
Prior to joining First Republic, Buker spent 20 years with Citi Private Bank, where most recently she worked as regional executive and managing director of the Manhattan region.
HighTower, the Chicago-based independent advisory firm, hired Michael Papedis as a director responsible for advisor recruiting and business development and MeeSun Boice in charge of advisor recruiting for the Western Region with a strong focus on the California markets.
Most recently, Papedis spent seven years at Fidelity Investments in Chicago. His most recent position was as vice president of senior sales responsible for new business development in the Midwest.
Boice, meanwhile, was previously the northwest region talent leader for UBS in Los Angeles.
In addition, Kristin Love, previously manager of trading at HighTower was promoted to director of trading and operations, where she will manage the firm’s fixed income team.
JP Morgan Private Wealth Management boosted its Law Firm Group in New York with the appointment of Robert Rahbari, a banker who was latterly managing director and co-founder of RAS Capital Management, an India-focused fund of funds business.
In his new role, Rahbari reports to Sharon Weinberg, managing director of the bank’s Law Firm Group, which provides wealth management advice to US law firms and attorneys.
Massachusetts-based Lexington Wealth Management hired Glenn Frank as a partner and director of investment tax strategy. He will focus on providing senior client service, developing customized financial and investment related tax strategies for clients and contributing to the overall investment decisions of the firm.
Prior to joining Lexington, Frank was senior vice president and senior investment strategist for Calibre Advisory Services. Before Calibre, he was one of three partners and a member of the investment committee at Tanager Financial Services.
New York-based Signature Bank added three private client banking teams to its network.
Joining the bank's Jackson Heights, Queens private client banking office are Joann DeMartino and Peggy Chan, as group director and senior vice president and senior client associate, respectively. Both join from HSBC Bank in Flushing, where they worked together for 10 years.
Meyer Eichler also joins as group director and senior vice president. His four-person team, which includes Mark Soltan, associate group director and vice president and senior client associates Cora Licht and Katie Skorniewska, will be based at the bank's Borough Park, Brooklyn private client banking office. All join from LibertyPointe Bank. The team has worked together for four years.
John Corallo and James McHugh were both named group director and senior vice president, also to work out of Signature's Borough Park office. Corallo and McHugh were formerly with TD Bank in Brooklyn. The team has been affiliated for about five years.
Barclays Wealth reportedly added three new financial advisors to its US team, all of whom are recognised as top managers at Deutsche Bank.
Patrick McBrien, Heidi Guldbrandsen and Scott Zelnick reportedly joined Barclay's New York team and hold managing directorial roles. They previously worked at Lehman Brothers until 2002 when they moved to Deutsche Bank.
The trio report to Mark Stevenson, the managing director and head of the New York unit.
Three former UBS advisors reportedly formed an independent registered investment advisory firm called Mississippi Investment Management Company in Jackson.
Leading the firm are Tom Bertaut and Chris Carrico, who left the Jackson office of UBS in January, and Bill Whitney, a UBS veteran advisor who retired from the industry six years ago.
Forbes Watson, an equity portfolio manager for Royal Bank of Canada until January, joined the three ex-UBS reps in their new venture. The firm is reported to have about 70 clients and $100 million in assets.
Northern Trust strengthened its trust offering in Connecticut with the appointment of Kurt Koehler as senior vice president and senior personal trust relationship manager.
Koehler, who has over a decade of experience in trust and estate planning, was most recently the senior vice president and market trust director for US Trust, Bank of America, where he advised families in multi-generational estate and tax planning and trust administration.
In his new role, he will be responsible for providing wealth management services to the high net worth community in the area. He reports to Joanie Stringer, the managing director of personal financial services in Connecticut.
BNY Mellon Wealth Management hired veteran banker Edgar Murcia to manage its private banking business California, Nevada and the Pacific Northwest, and promoted Carolyn Kozlowski to the newly-created role of national escrow sales manager in Pittsburgh.
Murcia is based in Los Angeles and reports to Joan Bird, managing director of BNY Mellon Wealth Management’s West, Central and Mid-Atlantic private banking groups.
Murcia has worked with Citigroup in both Florida and California for over 20 years. In his last position at Citigroup, Murcia was regional manager and credit director for the West US Law Firm Group.
Kozlowski is responsible for setting strategies for escrow sales, marketing and client service practices and oversees the escrow sales team. She also reports to Bird.
In 2007 Kozlowski was charged with developing the escrow business in the Pittsburgh market and generated more than 50 percent of the firm’s escrow revenue in 2009 alone. Her previous experience includes business development roles for trusts, investment management and private banking.
Stonnington Group, the Los Angeles-based financial services firm, appointed Jacqueline Le as its general counsel.
In her new role Le is responsible for providing legal counsel for Stonnington Group entities as well as project management services, including contract review and preparation, to the firm’s high net worth and family office clients.
Prior to joining the firm, Le served as general counsel for Picoco, an investment management company, where she was involved in all aspects of hedge fund investments, commercial real estate transactions and operations management.
Pennsylvanian-based PNC Financial Services Group reportedly strengthened its presence in northwestern Pennsylvania with a trio of appointments.
Allison Kaverman was appointed senior banking advisor for PNC Wealth Management Group with responsibilities including handling the banking and liquidity management needs of high net worth PNC clients in the counties of Erie and Crawford.
John Grazioli was reportedly appointed vice president and investment officer for PNC Institutional Investment Group. In his new role Grazioli is responsible for managing both institutional and wealth management client assets for clients in the region.
Mary Wingrove joined PNC Wealth Management Group as an assistant vice president and wealth planner in northwestern Pennsylvania, where she is responsible for providing consulting services in financial, estate and wealth planning for existing and prospective clients, according to the report.
Sanctuary Wealth Services appointed experienced financial service professionals Ronald Lynch and Joseph Norton to the post of director.
Lynch joins Sanctuary as a director of recruiting for the firm. He has held various sales roles at Smith Barney, Chase Manhattan Bank, and Bear Stearns. Most recently he had been working as a financial industry recruiter for Taylor Steele & Associates, recruiting financial advisors for various Wall Street and independent financial services firms.
Norton, a Certified Investment Management Analyst, joins Sanctuary as a director of sales. He was previously employed as a vice president at Goldman Sachs Asset Management, OppenheimerFunds, and GT Global Asset Management.
Ohio-based Key Private Bank reportedly promoted Randolph Chavez to senior vice president for the Cincinnati district of KeyBank.
Chavez previously served as senior vice president, middle market commercial lending, in the commercial banking division of the southwest Ohio district.
Rothschild Trust appointed Geoff Cone as an external consultant for its business activities in Latin America as part of moves to ramp up its efforts in what the firm views as attractive growth markets.
Cone has been managing director for Rothschild Trust New Zealand for the past eight years.
In his new role Cone, of New Zealand law firm Cone Marshall, will focus on client liaison and acquisition in Latin America, reporting to David McLellan, group chief executive.
The association between Cone Marshall and Rothschild Trust New Zealand will continue, the firm said, with Karen Marshall taking over as managing director of Rothschild Trust New Zealand. Supporting her will be Claire Cooke, who has been appointed as director.
LaSalle Investment Management, the Chicago-based real estate investment manager, appointed six new international directors.
The new international directors are Alan Trip, Amy Aznar, Zelick Altman, Helen Garbutt, Angelia Lim and Marc Montanus.
Trip is based in London as the managing director for the UK. His focus is on core funds and separate accounts.
Aznar is also based in London as head of special situations for greater Europe. Her focus is strategic entity-level investing, large transactions and joint ventures across the UK and Europe.
Altman is based in Toronto, Canada as president of the LaSalle Canadian income and growth fund series.
Garbutt is based in Paris and leads the portfolio management of LaSalle’s combined fund business across greater Europe. Her specific responsibility is LaSalle’s Value Add and opportunistic vehicles.
Lim is based in Singapore and is responsible for the finance function of LaSalle in the Asia-Pacific region. Her focus is client reporting, risk management, treasury and sourcing debt.
Montanus is also based in Singapore as fund manager of LaSalle’s Asia Opportunity Fund series. His responsibility includes driving performance in these portfolios through the company’s acquisition, asset management and portfolio management teams.
Arrow Capital Management, the New York-based alternative investment manager, appointed John DeRaimo to the newly-created role of chief operating officer.
DeRaimo's previously served as senior analyst and with his new responsibilities will concentrate on the firm’s operations, including its strategic growth initiatives. He reports to co-managing members Alex von Furstenberg and Mal Serure.
Prior to joining Arrow Capital DeRaimo worked for Landmark as a member of its investment committee and was responsible for evaluating alternative investments.
Bank of America named Charles Noski as chief financial officer, effective 11 May. Noski was most recently chief financial officer and corporate vice president of Northrop Grumman.
Noski takes over the CFO role from Neil Cotty, who had temporarily acted in the post after Joe Price left to head up the bank’s consumer banking division.
Noski has been a senior executive vice president and chief financial officer of AT&T Corp, and president and chief operating officer, and vice chairman and chief financial officer of Hughes Electronics Corp.
At Bank of America, Noski will be responsible for all finance functions as well as corporate treasury, global corporate strategy planning and development, investor relations, corporate investments, and global principal investments. He will become a member of the senior management team and be based in Charlotte.
Evercore Wealth Management, the US-based subsidiary of Evercore Partners, appointed Wendy Barasch as head of business development and partner.
In this New York-based role Barasch, who will join the firm at the end of June, will be working alongside Jeff Maurer, partner and chief executive officer at Evercore Wealth Management.
Barasch joins the firm from Alliance Bernstein, where most recently she worked as a managing director in the private client business and was responsible for hiring and developing teams of financial advisors.
Eaton Vance Investment Counsel, a division of Eaton Vance Management which serves high net worth individuals and families, trusts and foundations, appointed Robert Quinn as vice president, investment counsellor.
Quinn joins the firm from Boston Private Bank & Trust Company, where he served for 17 years as senior portfolio manager responsible for managing individual and institutional portfolios. In his new role Quinn reports to G West Saltonstall, president of Eaton Vance Investment Counsel.
Hillview Capital Advisors hired Aviva Pinto as senior vice president, client services, based in the firm’s New York office.
Pinto was latterly senior vice president and private client advisor at US Trust, where she worked with wealthy families and foundations. Prior to working with US Trust, she worked at both Lazard and Neuberger & Berman.
Jill Stiss joined Citi Private Bank in Miami as director and private banker. Stiss reports to Mark Maller, head of Citi Private Bank in Florida.
Stiss spent her entire career in Miami with Wachovia/Wells Fargo Wealth Management and predecessor firms. Most recently, she was senior vice president in the Miami office of Wells Fargo Private Bank. Prior to that, Stiss was a partner with Wachovia Wealth Management.
Rapidly expanding Milwaukee-based Robert W Baird & Co announced it is opening its first office in Portland, which will be headed by Smith Barney veteran David Perez.
Perez was a Portland-based branch manager at Smith Barney and worked for predecessor firms Shearson Lehman Brothers and EF Hutton & Co for 23 years. He has been in the securities industry for 29 years.
Fortis Investments former chief investment officer William Finley joined Morley Financial Services as its new CIO. The company said that Finley's investment philosophy fits with the conservative approach that Morley has used for the past 25 years. Morley is implementing a new method of linking with affiliate Principal Life Insurance Company and believes Finley's addition to the team would boost its relationship with its clients.
Capco, the financial services technology provider, appointed Alvi Abuaf as partner and head of its North America Wealth & Investment Management Group.
Before joining the firm, Abuaf was president and chief executive officer of CPM Braxis USA, and prior to that he held several key positions at the likes of Citi, Capgemini and Ernst & Young.
Millennium Trust Company, the administrative and IRA custodial services firm, made three hires to address the shifting market attention toward alternative assets.
Jim Anderson and Jeremy Christensen have been named vice presidents of the alternative solutions group and are responsible for the development of the company's alternative assets lineup, including hedge funds, private equity, real estate, precious metals and others. Anderson joins the company from Citibank, while Christensen used to work for Sterling Trust Company.
Jayne Fahlen came from Goldleaf Partners and has also stepped in as a vice president. Her responsibilities cover Millennium Trust's rollover IRA products.
Brett Sovine was named president and chief executive officer of Brown Brothers Harriman Trust Company, based in Charlotte, North Carolina.
Sovine had been managing director at the firm. He will oversee the national trust company and regional trust heads as well as continue his involvement in current client relationships.
Brown Brothers Harriman also announced that Kerri Mast joined the firm as vice president and wealth planner in Charlotte. She will report to Sovine and focus on trust and estate guidance and planning to the firm’s wealth management clients.
Mast was previously vice president of planned giving for Foundation For The Carolinas.
JHG Financial Advisors principal and founder Judson Gee joined investment advisor Curian Capital's Everest Club, an exclusive designation reserved for select financial professionals handling Curian's managed accounts platform.
Gee has over 14 years of experience in money management. He is also among those who have received a "40 under 40" award from the Charlotte Business Journal, which recognizes individuals who've made major strides in their respective industries.
Prudential Real Estate Investors boosted its global marketing and client services unit with the appointment of Mark Chamieh as managing director and co-head.
PREI is the real estate investment management and advisory business of Prudential Financial Inc.
Prior to the hire, Chamieh served as managing director and global head of marketing for JER Partners, overseeing the firm's capital markets team, as well as its global investor relations and capital raising activities. At PREI, he joins Lester Lockwood, who has been leading the company's global marketing and client team since 2005.
Capital Cities Asset Management named Brian Campos as director of wealth management in Austin.
Campos, an Austin native, spent the last two decades in the Washington DC area, where he worked in the high net worth investment planning divisions of SunTrust Bank, Fidelity Investments, and an independent wealth management firm.
Eric Clark has been named senior consultant for DAK Associates, a financial services executive search firm.
Clark will oversee DAK’s financial services diversity search program and also head up a new health care search initiative.
Previously, Clark had been a relationship manager and new business development executive in the capital equipment leasing and financing segment of the healthcare industry, most recently for Capital Innovations Equipment Finance, and previously for General Electric Commercial Finance.
Lee Eisenstaedt and Steven Staggs were added to the staff of senior investment professionals at AM Private Investments in New Canaan, Connecticut.
They will advise wealthy individuals, families and family offices on special alternative investments, private company and venture investments, and personal and family business venture investments, the firm said.
Eisenstaedt has worked at the SC Johnson family office assisting family members with forming, managing and investing in new business ventures.
Staggs spent the last eight years as a managing director of Babson Capital.
Michael Dribin joined the Florida law firm of Harper Meyer Perez Hagen O'Connor Albert & Dribin as a partner.
Dribin, who has practised in Miami since 1975, focuses on estate planning, probate, trust and guardianship administration and litigation. He was the managing partner of the Miami office of Broad and Cassel from 2003 to 2005.
WaterStreet Family Wealth Counsel, the Canadian family office service provider, further strengthened its advisory offering by adding three new members to the team.
John Hamilton, a private equity veteran who has also held key roles in Canadian financial institutions and banks, joined the firm as executive vice president. In his new role, he handles advisory services for a select group of Canadian families to help maximize shareholder value.
Susan Van Der Hout, the founding president of the Family Firm Institute Ontario chapter and former vice president of Women Entrepreneurs of Canada, is now the company's director of family engagement.
Also stepping in is Michael Lee-Chin, a well-known entrepreneur and philanthropist, as ambassador and stakeholder of WaterStreet.
Rockefeller Financial, which was rebranded last month from its previous name Rockefeller and Company, appointed Matthew Gelfand as a senior wealth advisor in its Rockefeller Wealth Advisers unit.
In his new role Gelfand is based in the firm’s Washington DC office and is tasked with working with Rockefeller’s DC-based staff on existing client relationships, new business development, and outreach in the Mid-Atlantic region.
Gelfand was latterly a managing director Potomac Asset Management, where he was responsible for portfolio planning and management, and research on the economic climate, capital markets and investment selection.
American International Group, the insurer that is currently owned by the US government following the 2008 bailout, announced that the US Department of the Treasury added Donald H Layton and Ronald A Rittenmeyer to serve on its board.
Layton is the former chairman and chief executive officer of E*Trade Financial Corporation and ex-vice chairman of JP Morgan & Chase. Rittenmeyer is the retired chairman, president and CEO of global IT service provider EDS and has also served as managing director of private equity firm The Cypress Group.
The new appointments complement the departure of Dennis Dammerman in February due to health reasons.
Hartford Financial Services Group named John Walters as head of its wealth management business.
Walters was most recently the president and chief operating officer of Hartford Life. In his new role, he will be dealing with client concerns with regard to retirement savings, income and estate planning.
Fred Crozier, the former head of private client services at Deutsche Bank's US brokerage unit, returned to the German firm as a managing director and advisor in its Baltimore office.
Crozier left Deutsche Bank Securities in 2006 to join Morgan Stanley as a district director in Washington and Maryland.
In his new role, he will work with high net worth clients in the private client services division. The unit is separate from Deutsche Bank’s private bank, which works with wealthier clients, a spokesperson for Deutsche told the publication.
Linklaters announced that US partner Scott Bowie became global practice head of the law firm’s investment management group.
Scott, formerly head of the New York investment management practice, succeeded Tim Shipton, who created the investment management group as a stand-alone practice in 2000.
HighTower, the Chicago-based open source advisor-owned financial service, appointed Michael LaMena as chief operations officer and Barnaby Levin as managing director and partner at the San Francisco cooperate office.
LaMena joined from Morgan Stanley, where he worked for 14 years. Most recently, LaMena was executive director of private wealth management operations in New York.
LaMena oversees HighTower’s open Source platform and HOST (HighTower Open Source Technology) portal as well as the firm’s trading capabilities and enterprise relationships with the Street’s trading, clearing, and custodial firms in the newly created chief operations officer.
Citi has hired a Goldman Sachs private banker, Rudolf Hitsch, to head up its China private banking business.
Shayne Nelson is to succeed Peter Flavel as global head of The Standard Chartered Private Bank, following the latter’s appointment to a new position within the group.
Flavel is to take up the role of global head, personal banking in July, after which Nelson, currently regional chief executive, Middle East & North Africa and CEO for Standard Chartered UAE, will take over at the helm of the private bank.
Diversa Limited, the Australian specialist wealth management firm, appointed Vincent Parrott as head of funds management. Parrott has over 25 years of experience in the financial services industry and has served leadership roles within the institutional funds sector for AMP, SBC (now UBS Global Asset Management) and BT Funds Management.
Barclays Wealth appointed former Standard Chartered senior manager Bryan Henning as head of global research and investments, Asia, to be based in Singapore. He is also a member of the Barclays Wealth Asia Pacific management committee.
Perpetual named Geoff Lloyd as the new group executive of Perpetual Private Wealth. Lloyd joins the company from BT Financial Group, where he was the general manager of advice and private banking after BTFG merged with the wealth management operations of St George Bank in 2008. He takes over from John Nesbitt, who recently left to become chief financial officer for Suncorp.
The Standard Chartered Private Bank has hired three senior staff for its North East Asia business. Lionel Kwok has been hired as regional head of Investment Advisory, North East Asia; Trevor Mak has been appointed as head of Relationship Management in Hong Kong and Stella Kong has been appointed as head of Relationship Management in China.
Edmond de Rothschild Asset Management, a subsidiary of La Compagnie Financière Edmond de Rothschild, has hired Lavin Mok as head of Asia sales. Mok was formerly a managing director at Tremont Capital Management, and headed up the firm’s fund of hedge fund sales activities in various Asian countries.
Barclays Wealth, the global wealth management division of Barclays, hired Helen Pun as director, market head of Hong Kong. Pun will oversee and manage the team of private bankers covering Hong Kong, taking overall responsibility for the development and bottom line of this market. She reports to Joanna Chu, head of north Asia. Pun was previously an executive director, senior client advisor, on the greater China key clients team at UBS in Hong Kong.
Singapore banking group DBS Group hired high-profile private banker Su Shan Tan to lead its private banking unit. Tan is the managing director at Morgan Stanley and focuses on the bank's wealth management operations in Southeast Asia and Australia.
Citigroup has appointed Michael Zink, a US national, as its new country head for Citi Singapore. Zink will be in charge of the US bank’s institutional clients group, consumer banking and global cards, plus its global wealth management businesses in the city state.
Religare Enteprises chairman Malvinder Mohan Singh and director Shivinder Mohan Singh have resigned from the company, paving the way for a reshuffling among senior ranks.
Ten private bankers have asked to leave Bank of Singapore, the private banking subsidiary of Singapore-based OCBC. The staff who may be on the move were among 50 in OCBC's own private banking arm before it was merged with the acquired Asian private banking unit of ING earlier this year, bringing the total to 200.
Pictet announced that Pierre Etienne is to take over from Marc Pictet at the helm of Pictet & Cie (Europe), the group’s bank in the European Union, located in Luxembourg, effective 1 July.
UBS appointed Gregg Robins as head of its Wealth Management business in Russia. Robins joins from Switzerland’s Union Bancaire Privée where he was regional head for Russia and Eastern Europe.
JP Morgan Private Bank appointed Patricia Estany as vice president in Spain, a Barcelona-based role in which she will report to Juan Manuel Soto, head of the Private Bank in Spain. Estany joins JP Morgan from the Spanish arm of Lombard Odier.
JP Morgan appointed Laurent Vanderweyen to the role of general manager of JP Morgan Bank Luxembourg. Vanderweyen, who takes his new post in July, will have executive responsibility for the worldwide securities services business in the Luxembourg office and will serve as a board member of JP Morgan Bank Luxembourg. He joins JP Morgan from RBC Dexia Investor Services.
The Russian-based subsidiary of Fleming Family & Partners, the UK-headquartered multi-family office business, made three appointments. Alexander Yakubov was appointed as the firm’s managing director and strategist, FF&P said in a statement. Prior to joining the firm he worked at Trust, the Russian investment bank, where he headed a team of equity market analysts. Elena Levit, who joins from Troika Dialog, was also appointed as a managing director at FF&P. Vsevolod Iotko joins the firm as senior investment consultant. In this role he will be responsible for attracting new clients as well as supporting and developing relationships with the existing clients. Iotko also joined FF&P from Troika Dialog.
UK-based Investec Asset Management has hired Juan Marin as southern European sales director.
Bank Uralsib, the Russian-based financial services firm with a private banking arm, has appointed Yury Petukhov as its financial director. Petukhov joined the bank in 2000 and prior to this appointment worked as a head accountant. Prior to joining Uralsib Bank, he worked at MFK Bank, United Export & Import Bank and Rosbank.
Close International, the UK-based banking and investment business which is part of the Close Brothers Group, has appointed Mark Coxshall as director of risk.
Dmitry Zhuk, formerly general manager and senior partner at Third Rome, the Moscow-headquartered investment management firm, has left the company to join Axioma Wealth Management.
The Moscow-based asset management subsidiary of Fleming Family & Partners, the UK-based multi-family office firm, appointed Rustam Iseev as its general director. Iseev, who was previously the firm’s managing director, is responsible for the development and realisation of FF&P’s new strategy.
Nordea Group, the Scandinavian-based financial services company, has appointed Niklas Ekvall as head of Nordic Private Banking and Henrik Priergaard as head of group management secretariat.
Troika Dialog, the Russian financial services group, has recruited Anton Rakhmanov from Renaissance Investment Management to oversee its asset management business.
Law firm Maples and Calder is bolstering its funds group with the addition of Paul Dobbyn as a partner at its Dublin office.
Union Bancaire Privée appointed Eli Koen and Mathieu Nègre as co-heads of emerging European equities. Koen and Nègre, who both join from Fortis Investments, bring with them experience in emerging European and Turkish equities.
Citibank Ukraine, the Eastern Europe-based subsidiary of Citigroup, has appointed Stephen Fisher as its head, Tristar reports. In his new Kiev-based role, Fisher succeeds Nadir Sheikh, who reportedly moved to pursue other interests with Citi Private Bank in London.
Russia's Nomos-Bank, which counts private banking among its services, has strengthened its investments division with an appointment of three ex-Standard Bank employees.
Artyom Gavrilov heads the Forex operations division. Nikita Chudnov was hired as a specialist in the bank's Forex operations division. Aleksey Baranchikov joined the bank as a portfolio manager.
Canada’s AGF Management Limited appointed Brian Brennan to the newly created role of vice president, institutional business development, to drive institutional sales in the Europe, Middle East and Africa (EMEA) region.
The Russian-based subsidiary of Deutsche Bank appointed Jürgen Fitschen as chairman of its supervisory board. Fitschen succeeds Charles Ryan, who is going to fully focus on the management of UFG Asset Management.
Antal Russia, the Moscow-headquartered executive recruitment firm, appointed Karl Franzmann to head the banking practice and strengthen its banking recruitment division.
Crédit Agricole recruited Hubert Reynier to take up the role of deputy director within its risk management department. Since 2009 Reynier has been deputy director of finance, strategy and sustainable development at Caisse des Dépôts et Consignations, a public group which describes itself as a long term investor serving the economic development of France.
Rothschild Trust appointed Geoff Cone as an external consultant for its business activities in Latin America as part of moves to ramp up its efforts in what the firm views as attractive growth markets. Cone has been managing director for Rothschild Trust New Zealand for the past eight years.
Standard Bank Offshore, which has offices in Jersey, the Isle of Man and Mauritius, moved Sue Collins up to director as an element of its growth strategy for the private clients division.
Morgan Stanley Smith Barney appointed veteran employee Chris Van Aeken as head of International Wealth Management Products and Services, moving to London from Asia to take up the role.
LaSalle Investment Management, the Chicago-based real estate investment manager, has appointed six new international directors.The new international directors are Alan Trip, Amy Aznar, Zelick Altman, Helen Garbutt, Angelia Lim and Marc Montanus.