August did not suffer much of a summer lull for job moves. North America was busy with firms such as Wilmington Trust, BNY Mellon and Citi Private Bank very much in the frame. The UK and Asia markets also saw important moves.
JP Morgan Asset Management named Michael O'Brien to the newly created role of global head of institutional client group. He reports to chief executive Mary Callahan Erdoes. Prior to this position, O Brien was head of the institutional investment management division of BlackRock.
Brookfield Asset Management appointed Chris Harris as client relations manager for the private funds group. Harris previously served as director of the private placement team at Macquarie Capital.
City National Bank hired six banking and investment management veterans from BNY Mellon Wealth Management for its Private Client Services group in San Francisco. John Dowling joined as senior private banker from BNY Mellon Wealth Management where he held the same role. City National Bank appointed Clay Overlien as vice president and financial sales advisor for its Cheyenne in North Las Vegas and Summerlin branch in Las Vegas. He joins City National through its acquisition of Sun West Bank in May of this year. Prior to joining City National, Overlien served as executive relationship manager for Sun West Bank.
City National Bank also hired Mariana Johnson to the Twain office in Nevada as senior vice president and branch relationship manager, while Bart Roberts joined in the same capacity for the Hughes Center branch. Both became part of City National in May 2010 after the bank acquired Sun West Bank. They will report to John Wilcox, senior vice president and Nevada regional banking manager.
BBVA Compass appointed Mark Smith wealth management market executive for Birmingham and Montgomery, Alabama. Smith joined BBVA Compass in 2006 as a private banker.
Wilmington Trust named Lawrence Gore president of the New York office of Wilmington Trust FSB. Gore reports to Roger Hobby, president of the Northeast region for Wilmington’s Wealth Advisory Services business. Gore replaces Murray Stoltz, who left the company. He joined Wilmington Trust earlier this year as a managing director and senior private client advisor from Herald National Bank. Wilmington Trust also hired commercial banking veteran Robert Gehring as vice president and head of the credit risk management division. Gehring served senior executive positions in banks both the East Coast and the mid-Atlantic region over the past 39 years. He was most recently the credit administration and risk management head at Peninsula Bank
Wilmington Trust also hired Carol Baldwin Moody as senior vice president and chief risk officer to head a newly-centralized Enterprise Risk Management Division. Baldwin Moody joined Wilmington Trust from Nationwide Insurance. Wilmington Trust FSB, the Baltimore-based federal savings bank subsidiary of Wilmington Trust, appointed Jay Wilson and Stephen McKnight as members of the subsidiary's board of directors. Wilmington Trust Corporation chairman and chief executive Donald Foley steps in as the subsidiary's chairman, succeeding Ted Cecala, who retired. Wilson was vice chairman and a director of Mercantile Bankshares and chief executive of its investment and wealth management division; he retired in 2008.
Westcore Capital Limited appointed Reed Fischer as director of the private client group as the company moves to expand its alternative investment offerings. Fischer used to be a manager at a financial services firm where he handled a team of 20 advisors.
Hawaii-based Central Pacific Bank appointed Lawrence Rodriguez as executive vice president and chief financial officer. Rodriguez brings more than 40 years of industry experience to the firm and most recently served as managing partner of Ernst & Young's Hawaii office. He also served as consultant to CPB since January 2010.
Hermitage Wealth Management named Christopher Morris as director of client services. Morris was previously an associate examiner at the Federal Reserve Bank of Richmond.
Prudent Wealth Management appointed Scott Holstein into the advisory council of its Curian Capital subsidiary. Holstein is a financial advisor based in Pennsylvania and has over 20 years of experience in the industry.
Denise Wypiszenski, chief operating officer of Robert W Baird's private wealth management group, left the firm. Meanwhile, the firm named nine wealth management professionals into its new branch at Fort Worth, Texas, all of whom are former employees of Morgan Stanley Smith Barney. Of the nine, six are veteran financial advisors with over 20 years of industry experience. W Paul Davis was appointed director, Roger Metz, director, Craig Nicholson, director, William Knight, senior vice president, Peter Philpott, vice president, and Paul Robinson, also as vice president. They are joined by wealth management professionals Kathy Breen as administrative office manager, Susan Fink as registered client relationship associate, and Kimberly Gould as client relationship assistant. All nine will report to Jarrett Kovics, who stepped in in June this year as branch manager of the Dallas office. The firm also opened a wealth management office in South Carolina.
Former National Basketball Association player John Lambert was appointed to head up Neuberger Berman’s West Coast high net worth business. Based in San Francisco Lambert reports to Kenneth Rende head of the Wealth Management division. He replaced Scott Marantz who has left the firm.
Bank of America's Merrill Lynch wealth management unit hired an advisor from UBS Wealth Management Americas. Scott Horrall joined Merrill's office in Indianapolis.
Glovista Investments hired Enrique Figueroa as managing director to oversee global wealth management on the West Coast in the US and Mexico. Figueroa joined Glovista from Merrill Lynch, where he was an international wealth advisor in the private banking and investment group.
Two former employees of Wells Fargo Advisors joined Morgan Stanley Smith Barney's financial advisory team. Ben Dembin and Francis Shiavetti came from Wells Fargo's Boca Raton office. Morgan Stanley Smith Barney also hired a team from UBS Wealth Management Americas. John Rizzo, Art Martin and his son Wade Martin joined the company’s office in Lawrenceville, New Jersey. The team will report to branch manager Bob Beylickjian.
BNY Mellon Wealth Management hired Robert Pitti as senior director of portfolio management and Leigh Wasson as senior director for its San Francisco office. Pitti joined BNY Mellon from Argus Capital Management where he was a partner. Wasson was previously a regional managing director at Citi Private Bank.
The independent investment dealer GMP Capital appointed chief executive officer Kevin Sullivan as deputy chairman of the firm and replaced him with Harris Fricker, who has been serving as president.
Theresa Allen joined First Republic Private Wealth Management in its Newport Beach, California office as an investment consultant and managing director. Prior to First Republic, Allen worked for UnionBanc Investment Services.
Citi Private Bank opened an office in Boca Raton, Florida and hired two from Merrill Lynch Wealth Management to staff it. William Goettert and John Entenberg joined as managing directors and private bankers from Merrill’s Weston, Florida office. They report to Mark Maller, head of Citi Private Bank in Florida.
Raymond James Financial appointed Tim Killgoar as director of client experience.
Killgoar has been with the company for two years.
US Trust appointed Brett Rufkahr as marketing executive for its St Louis branch in Missouri. Rufkahr was previously the head of the institutional trust investment unit at TIAA-CREF.
Borel Private Bank & Trust appointed Lorene Najac as vice president and director of deposit management. Najac most recently served as vice president and market support consultant at Wells Fargo.
Citi Private Bank in Philadelphia appointed Mark David Hasenauer as senior vice president and private banker from Wells Fargo Private Bank in West Chester. Hasenauer held a similar position at his former firm. Prior to joining Wells Fargo's predecessor firm, Wachovia Private Bank, in 2006, Hasenauer was a Planning Advisor with Legacy Advisors, LLC in Plymouth Meeting, PA. Citi Private Bank also hired two private bankers for its Dallas office. Troy Swaner and Charles Denson both joined from Wells Fargo Private Bank. They report to Mark Connally, Southwest Regional Executive for Citi Private Bank.
Citi Private Bank added to its law firm group across the US with the appointment of three investment counselors for New York and San Francisco. Michael Remark, a former advisor at Merril Lynch, steps into the group's law firm team on the West Coast. Meanwhile, the New York office is adding Kamran Sadr and Van Shell to its team. Sadr was previously a portfolio manager at Stelac Advisory Services, while Shell was an investment specialist in the JP Morgan Chase private wealth management arm. The bank also appointed Kathleen Soto to the Chicago office.
Soto joined from Northern Trust.
First Republic Bank appointed Erich Zarnfaller as managing director of foreign exchange. Zarnfaller has over 15 years of experience as a foreign exchange professional and 10 years in corporate treasury management. First Republic Bank also appointed Gigi Chellamy as a relationship manager, joning from Silicon Valley Bank.
Lending Club, the international peer lending network, named Carrie Dolan as its new chief financial officer. Dolan was previously the senior vice president and treasurer for The Charles Schwab Corporation.
Private Bank of California hired bankers Nick Zappia and Sergio Sepulveda to its expanding business development and relationship management team. Zappia joins as executive vice president and Sepulveda as senior vice president.
Ellyn McColgan been elected to Primerica’s board of directors. McColgan most recently was president and chief operating officer of global wealth management at Morgan Stanley.
Rothstein Kass named a raft of principals to its senior management. Camille Asaro, Frank Attalla, Jeff Kollin and Navin Sethi were named as principals. Asaro and Attalla are members of the Rothstein Kass Financial Services Group. Sethi, a tax principal is a member of both the Financial Services Group and the firm's Commercial Services Group. Kollin was named principal and Head of the Financial Services Advisory practice within Rothstein Kass Business Advisory Services, a Rothstein Kass affiliate. The firm also promoted Rich Sumida to the post of senior director.
Napa, California-based Argos Wealth Advisors appointed Jeff Handy as financial advisor, previously a star in the wealth management division of Thomas Weisel Partners.
Middleburg, Virginia-based Focus Wealth Management hired a chief technology officer and wealth manager. Stephanie Smith joins from Wiseman & Associates Financial Services where she managed financial planning and investment management activities.
RBC Advisor Services appointed Christian Widen as senior vice president with responsibility over all aspects of new business development. He was previously the vice president at JP Morgan and managing director at Bear Stearns & Co. RBC Wealth Management, meanwhile, appointed Brian Fields as vice president and branch director of its Lemoyne, Pennsylvania office. Fields, who joined the firm in 2009, was recently promoted to the position of director of the branch.
First Western Trust Bank announced that D Nick Forss and David Kuhn were hired to bolster its Colorado franchise. Forss steps in from US Bank.
US Trust hired three executives from Barclays Wealth. Ray Schuville, George Jenckes and Josh Glazer are based in New York and report to Thomas Boehlke, northeast regional executive for New York and North Carolina.
Financial planner Waddell & Reed Financial appointed Philip Sanders as chief investment officer of Waddell & Reed Investment Management Company and Ivy Investment Management Company. Sanders has 22 years of investment industry experience, 12 of which were spent with Waddell & Reed.
BNY Mellon Wealth Management hired Michael Yavner as vice president and senior director for its Miami office. He joined from Northern Trust. The firm also appointed Michael Lutz as senior director and team leader for its Central Pennsylvania portfolio management team. Lutz has spent 35 years in private banking, wealth management and financial estate planning, latterly serving as senior vice president and director of marketing and new client development at the Hershey Trust Company.
BNY Mellon Wealth Management also appointed John Stroud as vice president and sales director in its Bethesda, Maryland office - a newly-created role in which Stroud reports to Byron Clark, managing director of the mid-Atlantic region. Stroud joined from Iris Capital Partners. Osman Babson and Bradley Mattox joined as senior relationship managers.
The board of directors of the Oppenheimer Trust Company appointed Theron Huntting Worth (Hunt) as president of the institution, promoting him from chief trust officer and interim chief operating officer. He joined Oppenheimer in July 2007.
Laurel Hill Advisory Group, a US corporate governance advisory firm working with investors, appointed Samuel Berrios as senior vice president. Berrios was previously the deputy chief operating officer and executive vice president at Georgeson Shareholder Communications.
Hancock Retirement Plan Services appointed two regional vice presidents to complement its growing team in the western division. Doug Ambrose joins the company as RVP for the East and North Bays in San Francisco, while Candy Eiler steps in for Seattle.
RBC Wealth Management named Jason Braunstein as first vice president and branch director of its Sun City, Arizona branch. Braunstein brings 15 years of industry experience to the company and most recently worked for Morgan Stanley Smith Barney.
Wells Fargo Private Bank hired two advisors for its Washington DC office. Bonnie Humphrey joined from HSBC Private Bank. The firm also hired Tony Orme as senior vice president and business market segment manager for the San Francisco region. Orme joined rom Bank of Hawaii.
HighTower appointed Richard Saperstein and Andrew Morse to the firm's board of directors. Saperstein, a managing director and partner, heads the Treasury Partners practice at HighTower. Morse, also a managing director and partner, leads the Morse, Towey & White practice at the firm.
The Private Bank of California added three new senior executives to its team.
Lynn Ziven and Edward Meyer were made senior vice presidents, while Debra Bordeaux was named vice president.
Lockton, the US financial services firm, appointed Shelly Horwitz as a new account executive within its retirement and financial services subsidiaries Lockton Investment Advisors and Lockton Financial Advisors. Horwitz joined from Principal Financial Group.
The US private wealth management arm of Deutsche Bank hired UBS veteran James Layden to run its office in Los Angeles. In his new role Layden replaced Philip Waxelbaum, who moved to JP Morgan. Layden joined the firm from UBS Wealth Management Americas.
Henry Armstrong Associates, the Pittsburgh-based investment management firm, named Peter Eberhart as managing director. Eberhart came from BNY Mellon Wealth Management and was previously a lawyer at K&L Gates.
The investment management firm OppenheimerFunds appointed four industry veterans to newly-created leadership positions in its marketing and distribution units. Joseph Moran joined the distribution group as head of wealth management, along with Kimberly Mustin who joined as head of strategic accounts.
Pardus Capital, the New York-based alternative investment manager, appointed former UBS director Ali Mostafavee as head of portfolio risk.
JP Morgan Asset Management named Simon Littmoden as its new head of international sales. Littmoden has been part of JP Morgan Asset Management’s UK retail sales team since 1998.
The UK arm of Citi Private Bank appointed Michael Shorthouse and James Heddle as directors. Shorthouse joined from Merrill Lynch, where he worked for seven years advising private clients. Heddle joined after a 10-year career at HSBC.
Harris Bank appointed Peter Engel, the founder of management consulting firm Xcalibur, as president for retail banking in Wisconsin.
Bank of Montreal added Christine Edwards to its board of directors. Edwards is a partner at Winston & Strawn's corporate practice group and specializes financial services regulation, particularly securities and banking industries.
New-York listed Fortress Investment Group hired a former co-head of Morgan Stanley’s asset management unit, Stuart Bohart, as president of its liquid markets unit.
First Republic Bank appointed Jason Babb as a portfolio manager to its private wealth management team in New York. Prior to joining First Republic Bank Private Wealth Management, Babb worked for Deutsche Bank Private Wealth Management in New York. First Republic Bank appointed Susan Pilcher to its private wealth management unit’s San Francisco office. Prior to joining First Republic, Pilcher worked for Morgan Stanley Trust, most recently as executive director of financial planning.
Rick Rieder was named chief investment officer of fixed income, fundamental portfolios at BlackRock, reporting to Peter Fisher, who continues as head of fixed income. Rieder succeeds Curtis Arledge, CIO since the first quarter of 2010. Arledge was appointed chief executive at BNY Mellon Asset Management.
Brinton Eaton, the New Jersey-based boutique wealth advisory firm, made several promotions and hires. Marina Goodman, a certified financial planner specializing in risk management, was promoted to investment strategist, while David Hill and Abigail Scandlen, both specialists in financial and tax planning, were named financial advisors. Janet Critchley, a CPA and personal financial specialist, joined as financial analyst, while Matthew DiQuollo, who specializes in brokerage and asset management, was also hired as a financial analyst.
City National Bank expanded private client services group in Orange County, California, appointing Glenn Hamburger, Julia Stannard and Troy Franzen, all formerly of Comerica Bank's wealth management group.
Atlantic Trust, the private wealth management division of Invesco, hired Ryan McCleary as a senior vice president and senior relationship manager in Houston, Gordon Ross as a vice president and relationship manager in New York and Mark Frazier as an associate vice president and associate relationship manager in Austin.
McCleary was latterly vice president and co-portfolio manager with Fruth Investment Management, a Houston-based registered investment advisor. Ross most recently managed client portfolios as an investment manager for UK wealth manager Bestinvest Brokers in London. Frazier, meanwhile, was previously equity an research associate with Brandes Investment Partners, an independent investment management firm.
HighTower, the Chicago-based, advisor-owned financial services company, added to its advisory staff in New York with the five-strong former UBS team of Morse, Towey and White. Andrew Morse was named a managing director of HighTower, as will his partners Justin Towey and Bob White. In addition to the three principals, two senior members of their team, Pamela Tang and Maja Janko, are also making the move to HighTower.
UBS recruited Jonathan Kessler from Bank of America-Merrill Lynch.
Boston Private Financial Holdings appointed Stephen Waters as non-executive chairman of its board of directors. Waters has been a director of BPFH since 2004.
Crown Bank, the Minneapolis-based, privately-held firm that counts private banking among its services, appointed Lisa Perlman as vice president to head up its treasury management and deposit services. Perlman is based at Crown Bank's Edina branch.
Scottish Widows Investment Partnership, a subsidiary of Lloyds Banking Group, promoted Andrew November to director of equities, in a move to bolster the firm’s equity executive team. November will have overall responsibility for investment philosophy and process, as well as directing the UK equities, international equities and derivatives teams.
November has been part of SWIP’s executive team since 2003 and recently oversaw the creation of SWIP’s investment solutions team. Until a replacement for November is appointed, he will continue to oversee the investment solutions team on an interim basis.
SWIP also hired John Brett to its director of sales and marketing, replacing Simon Wombell who has left the firm.
Stephen Lansdown resigned from his role as executive director of Hargreaves Lansdown, the UK-based wealth advisory firm which he co-founded, and was appointed as a non-executive director. In other board-level changes at the firm, Ian Gorham, deputy CEO, was named as an executive director. Gorham joined Hargreaves Lansdown in 2009, and is due to take over as chief executive on Hargreaves’ departure. Meanwhile, Chris Barling was appointed as an independent non-executive director. Barling has 30 years’ experience in the IT industry, including senior roles at Cable & Wireless and Reuters.
Royal London, the UK-based financial services group which includes fund management and offshore investment businesses, is to see the departure of its chief executive Mark Yardley after over a decade of service. Yardley will continue at the helm until a successor is appointed in order to ensure an orderly transition, Royal London said. The firm’s board of directors appointed an executive search firm to collate a pool of potential candidates to succeed him, but no timescale has yet been fixed for the completion of this process. Both internal and external candidates are to be considered, Royal London added.
Edinburgh-based Aegon Asset Management appointed Andrew Bell – latterly of Aberdeen Asset Management – as its new head of European product and marketing. In his new role, Bell will oversee Aegon’s European product development and marketing proposition, reporting to Martin Harris, European head of distribution. While at Aberdeen Bell was a client director for its hedge fund unit.
Barclays Wealth appointed two relationship managers to its captive insurance team in Guernsey in response to a growing client base. Jo Walker and Claire Blondel will join manager Dave Bartram in a team that works with Guernsey-based captive insurance managers. Walker previously worked for Barclays in the UK and Guernsey for 18 years, while Blondel has been with the company for 13 years.
Man Group, the UK-listed hedge fund management giant, hired Luke Ellis to head its multi-manager business. Ellis was latterly non-executive chairman of GLG’s multi-manager business and manager of the GLG Multi Strategy Fund. In his new post, he will be responsible for continuing to build out Man’s multi-manager range of investment solutions for private and institutional clients and further developing Man’s position in structured products, funds of funds, managed accounts and tailored portfolios.
Insynergy appointed Nicola Large as commercial director in a bid to strengthen its investment executive team. Large joins the London-based boutique from the emerging markets-focused private equity firm Actis, where she was an analyst in the investor development group. At Insynergy Large will work closely with chief executive and founder Spike Hughes. Her responsibilities will include managing the investment manager’s commercial and financial affairs, particularly working on the evolution of the firm’s corporate structure and overseeing its reporting process.
Quilter, part of Morgan Stanley Smith Barney, appointed Julian Menges as deputy head for its Managed Portfolio Service (MAPS), a discretionary portfolio management service that invests solely in collectives. Menges will be based in Quilter’s London office and will report to Charles Hepworth, head of MAPS. Before joining Quilter, Menges was head of portfolio management at Heartwood Wealth Management, prior to which he held the role of director at Astaire and Partners.
Nick Godfrey, head of sales, and Paul Rose, national sales manager, left the UK investment platform Cofunds with immediate effect, due to a merger of its sales and marketing departments. Godfrey and Rose both joined the firm last year. As part of the changes, Russell Lancaster, head of commercial, will also manage the key accounts team and Stephen Wynne-Jones, head of marketing, will take on responsibility for managing and co-ordinating the delivery of projects across the sales and marketing department.
Credit Suisse’s private bank in the UK made a number of fresh appointments, bringing in staff who previously worked at Barclays Wealth, AIG and The Access Bank UK. Ian Hale joined the Swiss bank as a director in the investments team, and head of investment consulting. He joined Credit Suisse earlier this month and reports to Gary McGraw; he previously served as chief investment officer at The Access Bank UK. Prior to this role, McGraw worked at Barclays Wealth, heading the bank’s multi-manager and collectives team. Chris Pottle, meanwhile, joins the firm as a director and investment consultant, reporting to Hale. Pottle, who joins in September, previously worked at Barclays Wealth, where he was most recently an investment manager responsible for high net worth and institutional portfolios for financial market professionals, family offices and institutions. John Williams was appointed as a director in the wealth planning team. He also joins Credit Suisse in September, having previously worked at Barclays Wealth, where he was a director in the wealth advisory team.
Finally, Chris Williams joined Credit Suisse as a vice president and wealth planning product manager. He joined Credit Suisse from AIG Life Wealth Management, where he was head of technical services.
Bank Hapoalim International, part of Israel’s Bank Hapoalim, appointed Paul Mann to succeed Tal Steiner-Omer as head of its UK private banking business. Mann previously led UBS Wealth Management’s London-based Israel team and before this was with Credit Suisse, latterly as managing director, head of global strategic relationships for its asset management business.
UK advisor network Openwork appointed Mary-Anne McIntyre to the newly-created position of chief operating officer as part of its drive to develop its platform and operations capability in advance of the implementation of the Retail Distribution Review. She will report directly to Openwork's chief executive Martin Davis. McIntyre joins from Fidelity International, where she was head of customer services and strategic alliances, responsible for the operational and technology management of Fidelity’s key UK strategic business partners. She played an important role in developing Fidelity’s FundsNetwork and previously worked with Paul Bradshaw to help establish the wrap platform Nucleus.
Barclays Wealth saw the departure of Mark Elliott (director); Michael Linderman (vice president); Ross Jennings (vice president); Ross Elder (vice president) and Fred Hervey (vice president. Their future plans are as yet unclear.
The UK private bank Brown Shipley appointed Simon Nicholas as senior fund manager on two of its funds, in a bid to bolster its fund management team. Nicholas will join the MultiManager International and MultiManager Growth funds, both previously under the Solus brand, which are currently being managed by chief investment officer Peter Botham. The new role will also involve key responsibilities in the bank’s third party funds research team and investment policy committee. Nicholas was previously managing director of the private clients unit at Mercater Capital Management.
The UK-based asset manager Threadneedle announced the expansion of its fixed income team with the appointment of Jonathan Pitkänen as head of investment grade research. Pitkänen joins from Aviva Investors, where he was a credit analyst for four years. He takes up his new role on 15 September and will report to David Oliphant, manager of the Threadneedle UK Corporate Bond Fund. His responsibilities will include managing the credit analyst team and overseeing the investment grade credit process.
Guernsey-based Kleinwort Benson (Channel Islands) announced that Peter Neville will join its board of as chairman, as well as the board of parent company Kleinwort Benson Channel Islands Holdings, as a non-executive director. Neville is a longstanding member of the financial services community, and was latterly director general of the Guernsey Financial Services Commission – a role he served in from 2001 until 2009.
HSBC Private Bank added a new dedicated Latin American desk to its UK international platform, appointing Roberto Islas Salcedo as director and Benjamin Reid as a relationship executive – both of whom join from RBC Wealth Management. In their new roles both Salcedo and Reid report to Charles Boulton, managing director, international. Salcedo was latterly head of Latin America in the British Isles at RBC Wealth Management. Reid was formerly an assistant wealth manager on RBC Wealth Management’s Latin American desk for close to two years.
Continuing its expansionary drive in the UK, Close Asset Management appointed Andrew Gillespie as marketing director and Anita Juneja as head of strategic relationships. Gillespie joins from Standard Life, where he was managing director of marketing in the UK. At Close he reports to Steven Mendel, head of UK wealth management. Juneja joins from Cofunds, where she was head of business implementation, responsible for embedding platform services into advisor firms. At Close she will be responsible for establishing and managing strategic relationships with platforms, wraps and life assurance companies, reporting to Gillespie.
Eli Avrahampour joined Citi Private Bank in the capacity of managing director and senior private banker at the bank’s Israel team. In his new London-based role, Avrahampour will focus on ultra high net worth clients in Israel as well as the Israeli/Jewish community in the UK. Prior to joining Citi, Avrahampour spent the last 13 years at Merrill Lynch in London as a senior relationship manager in the private banking division, with the title of first vice president.
RBC Wealth Management saw the departure of a London-based private client trading team thought to have comprised at least five members. Epham Haq left the firm together with at least four of his colleagues due to the change in commission structure, among other reasons. The identities of the other leavers have yet to emerge
Coutts & Co, the UK private banking arm of the Royal Bank of Scotland, appointed Jeff Stubberfield as a commercial banker in its media banking team. In his new London-based role Stubberfield will be working alongside Neil Phelps, head of media banking, and will be focusing on serving clients within the music, TV and entertainment businesses. Stubberfield joins the firm from Barclays, where he was most recently a relationship director managing a portfolio of media clients across music, TV, talent/booking agencies and publishing.
The UK investment management arm of Fidelity confirmed the departure of Thomas Fraenkel-Thonet, who will leave the firm at the start of October after 16 years of service. Fraenkel-Thonet will hand over management of the £446 million (approx $699 million) Fidelity Funds European Larger Companies Fund to Matt Siddle. Management of the Fidelity Europe ex-UK Institutional OEIC – which has £595 million of assets under management – will be handed over to Alexandra Hartman, who currently manages two funds with the combined value of approximately $2 billion.
Insynergy Investment Management, the London-based boutique, hired Chris Howard – latterly of River and Mercantile - as discretionary sales manager.
Merrill Lynch Global Wealth Management made a pair of senior level promotions for the EMEA region, naming Tamer Rashad head of Middle East wealth management and Amir Sadr as head of the institutional client and family office groups. Rashad will relocate from New York to Dubai to take up his new role. He previously worked in the office of the president and chief operating officer at Merrill. Sadr, currently head of Middle East wealth management Dubai, will relocate to London to take up his new role. Prior to assuming his current position, Sadr was head of the Middle East offshore institutional client and family office groups.
Royal Bank of Scotland brought in former UBS veteran Rory Tapner as the new chief executive of the group’s wealth division. Tapner will take up his new London-based role next month, heading the venerable private bank Coutts, Edinburgh-based Adam & Co and RBS’s offshore banking divisions. Tapner was most recently chairman and chief executive of UBS’s Asia Pacific operations, overseeing investment banking, wealth management and asset management. He was also a member of the Swiss banking giant’s group executive board.
RBC Global Asset Management appointed Guido Giammattei to its London-based emerging markets equity team as portfolio manager of the RBC Emerging Markets Fund. The hire of Giammattei, who will focus on the Latin American region, follows the fund’s launch in April this year, after the establishment of RBC GAM's emerging markets equity team in January 2010. Giammattei previously worked as an equity analyst and latterly a portfolio manager concentrating on Latin American investments at the boutique investment manager Rexiter Capital Management.
Perspective Financial Group, the UK-based IFA consolidator, recruited Julie Hepworth from its owner Paradigm Partners as group regulatory manager, in preparation for the impact of the regulator's Retail Distribution Review. The hire of Hepworth, who will be responsible for the regulatory framework of the business and preparing the company for the impact of the RDR, is in line with the firm's wish to be fully supportive of the move to RDR-compliant businesses. Previously, Hepworth was a business consultant to directly-authorised IFAs at Paradigm Partners.
LV= Asset Management, the fund management arm of the UK-based insurance and investment group originally named Liverpool Victoria, named Matthew Wright as its new head of sales. Wright, who was latterly head of Fidelity International’s discretionary business, now oversees a six-strong team at LVAM comprised of three regional sales managers, a national sales manager and a business development manager, and reports to managing director Ann Roughead.
Barclays Wealth hired Douglas Lockhart as a portfolio manager for its investment/portfolio management team in Scotland, as part of an ongoing plan to grow in the country. Lockhart was latterly a senior investment manager at Deutsche Bank Private Wealth Management, and also worked for National Australia Bank and Tilney Investment Management. In his new, Glasgow-based role he will report to Alastair Mackenzie, regional investment director.
JP Morgan appointed Georgina Gordon as a private banker for its UK domestic team. Gordon will be based in London but will be focusing on developing the bank's wealth management business in the Channel Islands and the Isle of Man. She will report to Richard Madely, head of the UK domestic team. Previously Gordon was a portfolio manager at GAM Holdings.
Gartmore, the London-headquartered asset manager, named Nick Anderson as its new head of research for global equities. Upon assuming his new role this month, Anderson will work alongside the previous incumbent Simon Melluish, who became an investment director for the Gartmore equities team on a full time basis. Anderson will report to Neil Rogan, head of global equities at the firm.
The investment manager JM Finn added two new senior executives from BNP Paribas to its London wealth management team - a move which the firm said shows its dedication to expanding its private client business. Andrew Cumming, who is currently investment director at BNP Paribas Capital, and Michael Barlow, a senior investment manager within the private client division of the firm, will join in the coming months.
Franklin Templeton Investments, the US-headquartered investment manager, named Jamie Hammond as its new managing director for Europe, promoting him from his former post of senior director with responsibility for northern Europe. In his new role Hammond succeeds Hans Wisser, who is leaving later in the year to pursue other interests after 15 years at the firm. He will continue to be involved with the group as a consultant within its international advisory services unit. Hammond is charged with leading and growing Franklin Templeton’s retail and institutional businesses throughout Europe and will report to Jed Plafker, executive managing director, international advisory services.
Towergate Financial, the financial advisory arm of the Towergate Group, appointed Dan Russell as director of client proposition. Russell will now oversee Towergate Financial’s private client offering, launched towards the end of last year, and will spearhead its development relating to platforms, investment products and advisor tools. Russell will report to Dan Saulter, business development director.
Cavendish Asset Management appointed Neil Mitchell and Deepti Goyal as portfolio manager and senior analyst respectively as it continues to expand into the retail market. Mitchell was latterly an investment manager for Adam and Company, where he co-managed UK small and mid cap alternative investment products. In his new role he will support Cavendish’s retail offering in UK equities.
Goyal joins the firm from Redburn Partners, where she spent the last three years working as a sell-side analyst covering IT and software. SEI Global Wealth Services, the London-based subsidiary of US investment and technology firm SEI, appointed Cedric Bucher as director of client investment strategy within its private client team. Bucher joins SEI from Barclays Wealth, where he was responsible for developing and rolling out product strategy, as well as developing the private bank’s manager-of-manager investment funds.
Union Bancaire Privée, the Geneva-based private bank, hired Rob Jones to head a new, London-based European equities team. Jones, who will take up the role on 1 November, was a long-term employee of Threadneedle, where he latterly managed pan-European equity funds.
Olivetree Securities, the UK-based equities intermediary brokerage, added Martin Lupton to its distribution group, of which he will be a senior member and take a lead role in relationship management for key clients. Lupton joins Olivetree from Bear Stearns, where he was credited with having developed the firm’s UK equity sales trading presence in London. In his new role Lupton is also charged with overseeing and developing Olivetree’s training and development programme.
Quilter, the UK investment manager which is part of Morgan Stanley Smith Barney, appointed Stuart McColl as regional sales manager in Scotland, continuing a raft of recent hires as the firm looks to target further growth across the UK regions. In his new role, McColl, who was latterly a regional account manager for Zurich, will focus on developing relationships with IFAs in the Edinburgh area and will report to Glenn Hawksbee, Quilter’s head of sales.
Newton, the London-based asset manager which is part of BNY Mellon, appointed Suzanne Hutchins to the newly-created role of real return portfolio manager and investment specialist. In her new role, Hutchins will provide investment management and product specialist support to the firm’s real return strategies team and will serve as the primary point of contact for clients, both internally and externally. She reports to Iain Stewart, Newton’s director of investment. Hutchins is rejoining Newton after a five-year period stint at Capital International, where she was latterly investment specialist for global equity and income-based investment strategy.
Stonehage Group, the Jersey-headquartered multi-family office, named David Reid Scott as non-executive chairman of its advisory business, which includes Stonehage Investment Partners and Stonehage Property Partners. Reid Scott was up until last year chairman of the corporate advisory firm Hawkpoint Partners – a role he had held since 2001. He additionally served on the group executive committee of Collins Stewart between 2007 and 2009, and in his prior career was a founding partner of Pheonix Securities.
Architas Multi-Manager, the UK investment firm which is part of the AXA Group, appointed Hans Georgeson as managing director with immediate effect. Hans Georgeson previously worked for Barclays Wealth for some 15 years.
UK-based Close Asset Management bolstered its intermediaries team with the appointment of Leigh Stephens as an intermediary client advisor. In his new role, Stephens will focus on providing regulated investment advice and further developing the firm’s relationship with intermediaries. Earlier in his career, Stephens worked at Deutsche Bank, HSBC and Brewin Dolphin.
ComPeer, the benchmarking and analysis firm, appointed wealth management consultant Bruce Weatherill as an advisor. As part of the move, Weatherill will take an equity stake in ComPeer and will help the firm develop its existing range of benchmarking products, research and consulting services for the wealth management industry. He will also help ComPeer create a range of new services for the investment management industry.
Weatherill, who was a partner of PricewaterhouseCoopers until 30 June when he left to create his own consultancy, is a frequent commentator on the wealth management industry.
Herbert Scheidt, currently chief executive officer at the Zurich-based Vontobel private banking group, will step up to be chairman in May next year. He will succeed Dr Urs Widmer, who will have reached the bank's age limit.
Maerki Baumann & Co, the Zürich-based private banking business ofMaerki Baumann Group, appointed Urs Imholz as its new chief executive officer, succeeding Dr Rolf Aeberli, who left the firm following differences over strategy.
Dr Eugen Haltiner, the chairman of Swiss financial regulator FINMA, steps down from his post at a time when the organisation was the centre of major controversies about Swiss bank secrecy laws and transfers of data by UBS to the US tax authorities.
The Swiss arm of UBS currently advertises around 500 vacancies to external applicants across its business, especially in the private banking and risk management areas.
The French banking giant Société Générale appointed John Craven as head of professional client relationships, exchange traded products in the UK, in a bid to increase awareness of the bank’s products within the wealth management community. Prior to joining SocGen, Craven worked for Merrill Lynch, where he was head of retail structured products and capital markets for the EMEA region.
UralSib Capital, the Moscow-headquartered investment business of Russia’s UralSib Financial Corporation that provides investment strategies to domestic high net worth clients among other services, hired Maximilian Honigsmann and Douglas Rohlfs as new vice presidents and Tatiana Sigareva as a chief financial officer.
Prior to joining UralSib Honigsmann worked at Raiffeisen Centrobank in Austria as head of the sales and trading department for securities and derivatives. While, Rohlfs previously worked as head of sales and clients relations at Metropol, a Russian investment firm. Lastly, Sigareva joined UralSib from Standard & Poor’s International Services.
The Austrian private banking subsidiary of the Swiss giant Credit Suisse hired Marcus Ehrhardt as a senior relationship manager for its office in Salzburg. Prior to joining the bank, Ehrhardt worked at Bank Vontobel.
RBC Dexia Investor Services, which provides onshore and offshore custody and other services to a raft of financial institutions including wealth managers, appointed David Dibben as head of global fund products, based in London. Dibben reports to Rob Wright, global head of product amd client segments. Dibben joined from HSBC Global Asset Management in London as chief operating officer of its global fund ranges.
The Dutch private bank Van Lanschot named Constant Korthout as its new chief financial and risk officer. The appointment meant that some of the current duties held by Floris Deckers, the bank’s chief executive, will now be transferred to Korthout, who joined from Robeco, the asset management arm of the Dutch bank Rabobank.
Otkritie Securities, the London-based brokerage subsidiary of Russia’s Otkritie Financial Corporation, bolstered its equity research department with the appointments of Vladimir Tikhomirov and Marat Ibragimov as senior economist and senior consumer analyst respectively.
Tikhomirov joined the firm from UralSib Financial Corporation, where he was the firm’s senior economist. While, Ibragimov prior to joining held equity research analyst roles covering retail and real estate at Citi Investment Research.
Coutts & Co appointed Nathalie Ladrak-Malfeyt as a private banker to high net worth clients across Northern Europe with a focus on Scandinavia, in a bid to expand the firm’s exposure in the region.
Ladrak-Malfeyt joined the private banking house from the Netherlands-based Mees Pierson where she was a senior investment advisor to private wealth clients.
BHF-Bank, the Frankfurt-based private banking subsidiary of Deutsche Bank, hired Maxim Tilev as an analyst to its research team covering small- and mid-sized companies, Roger Hirst as a senior consultant in the research department and Thomas Kastner as a senior trader.
Prior to the appointment, Tilev worked at Commerzbank in the small- and mid-caps team. Hirst previously worked at Dresdner Bank as well as Kastner, who was head of block trading there.
UBS named JP Morgan veteran Jakob Stott as its new head of wealth management for Europe. Stott, who was latterly chief operating officer for JP Morgan’s investment bank in EMEA, as well as global head of the reputation risk office, will take up his new role on 1 October.
He will have responsibility for all the Swiss bank’s onshore wealth management activities in Europe, with leadership authority over more than 45 branches across Germany, the UK, France, Monaco, Italy, Spain, Austria, Luxembourg, Belgium and the Netherlands.
Russia’s MDM Bank, which counts private banking among its services, reduced its executive board by a third as a part of an ongoing restructuring initiated by Sergei Timofeyev, the bank’s recently appointed chief executive.
Barclays Wealth Private Clients International appointed David Stanley to its board of directors in the Isle of Man. Stanley joined Barclays Wealth in 2006 as global head of offshore financial markets, before which he spent five years as global transaction services country head at Citigroup. Prior to his time with Citi, Stanley worked in a number of banks and finance houses in both Jersey and London.
Barclays Wealth also hired four new senior executives to its EMEA Alternative Investment Origination and Distribution teams. Boudewijn Jansen and Sarah Newman joined as head of private equity origination and head of hedge fund origination, respectively. Jamie Murray joined as director and Emily Smart as hedge fund specialist, reporting to Murray. Prior to joining Barclays Wealth: Jansen was global head of private equity at HSBC Alternative Investments; Newman spent fourteen years with the Equity Derivatives and Fund Linked Products/Derivatives businesses at JP Morgan Chase, BNP Paribas and Credit Suisse; Murray was latterly an associate director responsible for hedge fund PR at Broadgate Mainland, prior to which he was an executive director at Morgan Stanley Alternative Investment Partners; Smart was formerly a director at UBS Wealth Management.
Scotland's Amati Global Investors appointed James Ferguson as chairman. Ferguson is a chairman of several trusts, a director of The Independent Investment Trust and Audax Properties, and a trustee of Lloyds TSB Foundation. He was formerly chairman of Stewart Ivory and deputy chairman of the Association of Investment Trust Companies.
Emirates NBD appointed Iyad Quttaineh as its new head of private banking in London. He was previously a senior investment manager at BNP Paribas.
AMP Capital Investors hired Sonia Baillie to head its fixed income team after its head Andrew Lally was appointed to lead the Australian equities division. Baillie joined from Nomura, where she was the head of credit desk analysts, prior to which she held key roles at UBS Global Asset Management, Colonial First State Investments and Westpac.
AMP also expanded the fixed income unit by appointing Joyce Yu, a graduate of the AMP Capital Graduate Program, and Tim Jarvis, a member of the company's Asian real estate securities unit, as analysts at the credit research and analysis team, while Steven Hur and Veronica Raic became credit analysts. Hur joined from Schroders, while Raic was previously a market analysis manager at Westpac.
BlackRock Australia appointed three senior executives to its team. Pru Bennett became head of corporate governance, Henry Capra was named new chief operating officer and Orla Fisk became senior compliance officer. Capra previously served as chief financial officer for AMP Captial and had also worked for wealth manager Colonial First State as CFO and COO. Bennett formerly worked for Regnan Governance Research and Engagement in compliance and investor relations, prior to which he was at CGI Glass Lewis and Qantas Airways. Fisk joined from positions at Challenger Financial Services, Zurich Capital Markets Asia and most recently Genesys Wealth Advisers.
At CNInsure, vice president Chengbin Li resigned from his role as head of the life insurance arm to become vice president for human resources management and strategic planning. Feng Jin, previously chief operating officer and chief information officer at the institution, assumed the additional role of head of the life insurance unit.
Northern Trust appointed Pamela Yuen as sales director for its corporate and institutional services unit in the region. She was previously the head of relationship management for Asia Pacific at HSBC. In her new role, she reports to Rohan Singh, the head of asset servicing sales in Asia Pacific.
Nikko Asset Management hired Blair Pickerell as head of Asia and global chief marketing officer. He was most recently chief executive in Asia for Morgan Stanley Investment Management.
UBS appointed Jaya Jayaram as executive director and India desk head to be based in Hong Kong. She was previously in charge of the North Asia/Hong Kong desk for Indian clients at Deutsche Bank Private Wealth Management Hong Kong, prior to which she worked at Société Générale and the Bank of America. She reports to Vinay Gandhi.
EFG Bank recruited Adeline Chien to focus on the Greater China Region as a managing director and senior client relationship officer. Most recently, Chien was a managing director and cluster head, UHNW team, at UBS Wealth Management in Hong Kong, prior to which she was an executive director and client advisor at Goldman Sachs Private Wealth Management.
New York law firm Kobre & Kim hired William McGovern as head of a new Hong Kong office that focuses on Asian clients with disputes against US regulators or international banks. McGovern was previously the executive director of the transaction management group at Morgan Stanley.
DBS Group Holdings appointed Sebastian Paredes as the new chief executive officer of DBS Hong Kong. Paredes has been in the banking industry for 25 years and most recently served as president and director at PT Bank Daramaon in Indonesia. Prior to that, he spent 20 years at Citi, with stints in South America, Middle East, Asia, Africa, and Europe.
DBS also created a new Singapore country manager role, to which it appointed Sim S Lim, previously president and chief executive officer of Citigroup Global Markets Japan.
ING Investment Management named Grant Bailey as its new chief executive for Asia. Bailey has been with ING Groep for the past nine years and most recently served as its general manager for Asia.
Baring Asset Management named Wayne Shum as Asia head of institutional business. Shum stepped in from HSBC Global Asset Management, where he held a similar role. He now reports to Gerry Ng, the head of sales, client service and business development for Asia ex-Japan.
Lugano-based BSI appointed Esther Heer and Ciro Ahmad as the firm’s new deputy chief executive of BSI Asia and chief operating officer of BSI Investment Advisors, Hong Kong, who, between them, have 40 years of experience in wealth management.
Reliance Capital named Madhusudhan Kela as chief investment strategist. Kela was previously the head of equities at Reliance Mutual Fund. His old position was taken by Sunil Singhania, previously the deputy head of equities at the company.
Pravi Capital appointed Tapan Gandhi as principal for investments. Ghandi established his own company, Forward Thinking, after leaving Lehman Brothers, where he was head of corporate development and strategy.
HSBC appointed Naina Lal Kidwai to its board. Kidwai has been with the firm since 2002 and most recently served as head of the firm's India operations.
The Murugappa Group named Vellayan Subbiah as the new managing director of its asset financing arm Cholamandalam Investment and Finance Company and MBN Rao as the new chairman of the non-banking financial company. Subbiah, was previously the managing director of Laserworlds, the firm's publishing BPO unit. Rao is the former chairman and MD of Indian Bank and Canara Bank.
Investec Asset Management appointed Makoto Sakaguchi, formerly of Citibank, to lead its funds franchise.
Threadneedle named Sandra Cheng to the newly-created position of head of institutions for Southeast Asia. Cheng joined the company from Deutsche Asset Management, where she was responsible for business development in the region. She has worked for HSBC Global Asset Management, Wellington International Management and UBS Global Asset Management.
Clariden Leu appointed three executives to its Singapore team: Vincent Wang joined the company as head of treasury and execution for Asia, Liew Chin Choy stepped in as head of mid-office, Charles Yeoh was named senior portfolio manager. Wang was previously an investment representative at Morgan Stanley in Asia. In his new role, he reports to Britta Haeberling and Andrea Carl. Choy was formerly Asia-Pacific business management head at Merrill Lynch. In his new role he reports to Markus Buck. Yeoh joined from the private wealth management arm of Deutsche Bank, where he was senior portfolio manager. In his new role, he reports to Chew Soon Gek.
The Singaporean arm of the Swiss banking giant UBS appointed Reto Marx, currently managing director, as its new head of financial intermediaries for the Asia Pacific region. Prior to joining UBS Marx held various managerial responsibilities with Credit Suisse as market head for Australasia as well as head of international wealth management.
At Citi Private Bank, Manav Abrol, moved from the role of head of investment advisory and sales in Geneva, to head up the investment advisory and sales team in Singapore. Abrol has been working at Citi Private Bank for six years, responsible for the investment advisory and sales business in Switzerland, covering UK offshore, Central and Eastern Europe, Greece, Africa and Turkey. In his new role he reports to Debashish Duttagupta.
Bank of Singapore brought in veteran banker Larry Leong to lead a team of senior relationship managers targeting high net worth clients in Indonesia. Leong, who has 36 years of experience under his belt, joined from DBS Private Bank, prior to which, he had worked for Republic Bank of New York, NZI and Bank of America. Bank of Singapore also hired Johann Kevin Chia and Stanley Chew, formerly DBS Private Bank relationship managers, for this Indonesia team. All three report to Robin Heng, Indonesia market head.
ABN AMRO Private Banking appointed Jimmy Kee as market manager for Singapore and Malaysia. Kee has over 30 years of experience in the financial services industry and was most recently the head of marketing for Indonesia at Standard Chartered Private Bank. Prior to that, he was the deputy head of Fortis Private Bank. Kee reports to Lee Change Tze, head of ABN AMRO Private Banking for Southeast Asia.
The Singapore Exchange appointed Tng Kwee Lian as head of fixed income. Lian joined from United Overseas Bank's asset management unit, where she was head of Asian fixed income.
Bank of Singapore appointed Jan Lee as chief economist. Lee joined from the Australian Government where he served as policy advisor and economist, before which, he worked at several global investment banks and wealth management institutions, such as UBS and Goldman Sachs. He reports to Hou Wey Fook, chief investment officer for Bank of Singapore.
OCBC also added Alistair Marsh as head of trading advisory and product development. Prior to joining Bank of Singapore, Marsh worked at Citibank, Indosuez, American Express, and more recently headed up the product and advisory group at ING Private Bank, Switzerland.