August was a busy month despite the August lull in terms of job moves in wealth management, with a number of hires at firms such as Citi Private Bank, Wilmington Trust and BNY Mellon.
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.