Williams de Broë, the private client division of the UK’s Evolution Group, appointed Andre Masters – latterly of Canada Life – as a business development executive to support its Bournemouth and Guildford Offices. Masters was previously an account manager at Canada Life, a role in which he was involved in marketing firm’s services to intermediaries. Before this he worked at Lloyds TSB Private Banking.
UK-based Heartwood Wealth Management appointed Mark Rockliffe as head of intermediary sales, charging him with spearheading the firm’s development of a new investment management proposition aimed at the IFA market. Rockcliffe, who is now based in Heartwood’s London office, was most recently sales director at SEI Investments.
UBS hired Frank Oliver Jüdt as head of equities at its Swiss investment management office. Jüdt joined from LGT Capital Management, where he was head of equity. Before this he worked in similar roles for several private banks and at Winterthur insurance.
AXA Investment Managers named Irshaad Ahmad as its new head of the UK and the Nordics as part of plans to consolidate its UK market share and develop its client base in the Nordics. Ahmad joined from Russell Investments, where he was most recently executive managing director of UK and global retail with responsibility for teams across institutional, retail and consultant sectors, as well as client service and marketing. Prior to this he was president and managing director of Russell Investments in Canada.
A top executive at Morgan Stanley’s private wealth management arm in London, Michael Hall, left the company. Hall held the position of chief administrative officer at Morgan Stanley.
J O Hambro Capital Management launched a new global emerging markets opportunities fund. JOHCM Global Emerging Markets Opportunities Fund is run by James Syme, the former head of global emerging markets equities at Baring Asset Management, and Paul Wimborne, a former Baring fund manager.
Threadneedle bolstered its high yield unit with the addition of investment analysts Gareth Simmons and Jenny Wong. Simmons was latterly a European credit desk analyst at Morgan Stanley, covering the high yield telecoms and media sectors; he had worked at the Wall Street giant since 2006. Wong joined from Putnam Investments, where she was a credit analyst in the European high yield fixed income team.
Glendevon King Asset Management, the London-headquartered fixed income boutique, appointed Dr Percy Barnevik and Dr Kurt Moosmann to its expanding advisory board. Dr Barnevik is a prominent international businessman, who is credited with developing the merger that created the ABB engineering conglomerate, as well as having served on the boards of firms including General Motors, AstraZeneca and du Pont USA. Dr Moosmann, meanwhile, is the co-founder of Dara Capital and a specialist in structuring the wealth of entrepreneurs and families.
Scoban, the new UK private bank set up by former Adam & Co chairman Ray Entwistle, hired BNY Mellon’s former head of dealing. Stuart Alexander will reportedly join Scoban over the summer as head of operations and company secretary. He was previously director of banking operations at Adam & Co.
Barclays Wealth added Coutts & Co banker Alan Colquhoun to its Edinbugh office. While at Coutts' London office Colquhoun focused predominantly on resident non-domiciled clients from the Far East, Australasia and Africa. Barclays Wealth appointed Paul Burd as head of business services within overall operations and as head of operations for the firm’s Glasgow office. Burd was most recently based in Cape Town as general manager of worldwide securities at JP Morgan. Barclays Wealth appointed Mark Glover as a director and head of the global insurance unit within its wealth advisory division. Glover joined from UBS, where he was a director overseeing various aspects of the Swiss giant’s life assurance business, both in the UK and internationally.
Barclays Wealth appointed Calum Brewster as a director within its private banking business in Glasgow. Brewster joined from Lloyds Banking Group, where he was head of customer experience and strategy within the life pensions and investment division.
AXA Framlington, the equity fund manager which is part of AXA Investment Managers, added to its healthcare team with analyst Linden Thomson. Thomson joined from the hedge fund Clear River Capital, where she was responsible for fundamental research across the pharmaceutical and biotechnology sectors. Before this she had been part of Goldman Sachs’ global investment research team, where she was one of two analysts on the EU biotechnology research team. AXA Framlington also made two hires to its emerging markets equities team. Amanda O’Toole and Paul Birchenough, both latterly at Nevsky Capital, joined a team led by Julian Thompson as analysts and portfolio managers. Both have also worked at KPMG for several years.
Iveagh, the asset management firm and family office for the Guinness dynasty, saw the departure of its head of asset allocation, who is setting up his own firm. Former Iveagh partner John Ricciardi ran the firm’s Iveagh Wealth Fund and its dynamic risk-rated Core Portfolio funds. The funds’ co-manager Chris Wyllie took over as sole manager.
Alliance Trust appointed Ilario Di Bon as head of global equities. Di Bon was latterly head of institutional global equities at Fidelity International, where as part of his role he helped manage the firm’s Global Opportunities Fund.
Jupiter Asset Management saw the departure of Malcolm Millar, manager of its European Income Fund. Cedric de Fonclare, manager of the firm’s Special Situations Portfolio, took over the fund. Millar first joined Jupiter in 2002, managing pan-European funds since May 2003.
Stanhope Capital, the multi-family office, added advertising luminary Sir Martin Sorrell to its advisory board. Sir Martin, who is chief executive of WPP, the global marketing and advertising behemoth, will work alongside Lord Browne of Madingley, chairman of the advisory board. Lord Browne, the former chief executive of BP, was appointed in October of last year to lead the advisory board of Stanhope Capital.
Schroders hired Bob Jolly – latterly of UBS Global Asset Management – as head of global macro within its fixed income team. While at UBS GAM Jolly had been head of global sovereign, currency and UK fixed income portfolio management. Schroders named Rajeev De Mello as head of Asian fixed income. De Mello succeeds How Phuang-Goh, who is retiring in September after having spent 17 years with Schroders. In his new Singapore-based role De Mello is responsible for several Asia ex-Australia fixed income teams, such as those in Singapore, Hong Kong, Tokyo, Jakarta, Seoul and Taipei.
Williams de Broë, the private client division of the UK’s Evolution Group, expanded its Edinburgh office with the appointment of investment directors Rosie Daniels and Catherine McMorrin. Both join from Barclays Wealth.
HSBC Private Bank in the UK appointed Adam Brownlee as a director on its high net worth team, based in London. Brownlee joined from Credit Suisse where he was a vice president managing and advising corporate executives and finance market professionals. Before joining Credit Suisse in 2008 he worked at Drummonds Private Banking.
Newton Investment Management, part of BNY Mellon, made a pair of hires from UBS’s charities team, including Andrew Pitt, its former head of charities, who replaces Jamie Korner, who is to retire. Pitt joined Newton in September as head of charities, a role in which he will have overall responsibility for co-ordinating the firm’s charities strategy. In addition Paul Mitchell, also from the charities team at UBS, joined Newton in August; he will assume a number of charity clients.
Brewin Dolphin hired Paul Martin from Barclays Wealth as a divisional director. Martin, who was formerly a vice president, private banker at Barclays Wealth, was joined by an assistant and two other former co-workers who have been appointed directors for the Leeds office.
UK-based Arbuthnot Securities appointed Jamie Lowe to lead a team charged with rolling out a research service allowing asset allocators to compare investment trusts and exchange-traded funds. Arbuthnot also assigned Peter Brown, formerly of ICAP and Fleming Family & Partners, and Majid Haq, an internal appointee, as market makers ahead of the launch, as well as James McIntyre, Katie Romero, Hugh Field and Finlay Bodman.
Aviva elected John McFarlane as its new chairman, effective from the start of July 2012. McFarlane will become a non-executive director at the start of September, before taking on the role of deputy chairman on 1 January 2012 and then becoming chairman at the end of June. McFarlane, who succeeds Lord Sharman of Redlynch, is currently a non-executive director of Royal Bank of Scotland Group and will relinquish this role by 31 March 2012.
The trust and fiduciary arm of HSBC Private Bank boosted its private wealth solutions team with three top level appointments as it launches a new global wealth planning platform called Core Trust Solutions. HSBC Private Wealth Solutions named Chris Marquis as managing director of its Hong Kong operations, while Gareth Morgan and Mike Buhre were appointed as global chief risk officer and global chief financial officer, respectively.
Signature, the intermediaries arm of the UK based wealth manager Rowan Dartington, appointed Trevor Cant as business development manager. Cant joined from TCF Investment, where he had also been a business development manager.
UK-based AWD Chase de Vere hired 20 advisors and managers from Barclays Financial Planning. Among the 20 new hires, AWD Chase de Vere appointed Dave Fishlock as a senior manager in its Newcastle office, Steve Hearn as a senior manager in Manchester and Andrew Pacey as a senior manager in Cambridge.
Edmond de Rothschild Asset Management bolstered its asset allocation team with the addition of Thomas Vlieghe, formerly a portfolio manager at Allianz Global Investors. Vlieghe was at Allianz since 2004, acting as a balanced portfolio manager of open funds and dedicated mandates for institutional, corporate and pension fund accounts.
HSBC Alternative Investments appointed Simon Jennings - formerly of UBS Wealth Management - as managing director, head of private equity. Jennings is noted for having co-founded and run UBS Wealth Management’s private equity business between 2004 and this year.
Legis, the Guernsey-based funds, corporate services and trust firm, appointed Brian O’Mahoney as group finance director. O’Mahoney was most recently chief financial officer for Kleinwort Benson’s operations in the Channel Islands.
Future Capital Partners appointed Robert Jolliffe as a senior investment advisor as it moves to enhance its structured debt and asset management capabilities.
The UK Serious Fraud Office appointed the chairman of the City of London Police Authority Simon Duckworth to its board. In addition to his role in the police authority, Duckworth is chairman of the Barings targeted return fund, a non-executive director of the Fidelity European values trust, and chairman of the National Olympics Security Oversight Group.
Coutts made a double hire for its Newcastle office, appointing Stephen Black and Ian McElroy as senior private bankers. Black and McElroy join from Kleinwort Benson and have both previously worked for Barclays Wealth in Newcastle.
Coutts bolstered its Manchester office with a double hire from Barclays Wealth as it continues to expand in the Lancashire region. James Bardner, formerly a vice-president at Barclays Wealth, joined as a senior private banker, while Neil Ferguson was appointed as a financial planner. Ferguson was latterly a financial planner covering the Manchester area for Barclays Wealth.
Standard Life promoted Paul Matthews to the position of chief executive of its UK business. Matthews, who joined Standard Life in 1989, was previously take-to-market director at the London-listed savings and investment company, with responsibility for retail, corporate and direct to customer business in the UK.
Lloyds Banking Group consolidated its international wealth management and private banking businesses under Russell Galley as sole managing director. The new international wealth unit serves all the firm’s global wealth management clients, comprising the mass affluent, high and ultra high net worth segments.
Fund manager Nick Roe-Ely left London-based investment bank Xcap. Roe-Ely joined Xcap in January of last year from JO Hambro Capital Management, and was responsible for launching the firm’s dedicated asset management division with Jonny Wiseman.
Santander Private Banking UK appointed Sue Hayes as its new managing director, a role in which she will oversee the firm's on and offshore private banking operations. Hayes’ role covers Cater Allen Private Bank, Santander Private Banking in Jersey, and Alliance & Leicester International in the Isle of Man. Hayes was latterly managing director of Santander’s business banking arm.
North Investment Partners hired Ari Towli and Nick Roberts to assist in the running of its multi-manager range, which has £450 million ($740 million) under management. Towli and Roberts joined from Gartmore, where both were involved in the design and management of the firm’s multi-manager range. The pair left the firm after Henderson agreed to buy Gartmore at the end of last year.
London & Capital further expanded its advisor solutions sales team with the addition of Bruce Kirkcaldy and Sachin Patel, who joined from Meteor Asset Management and Close Brothers Asset Management respectively.
Polar Capital continued a spate of recent hires with the addition of Su Park to its international sales team and the appointment of Sarah Nash as marketing manager. Park was most recently head of European capital introductions at Nomura International.
BullionVault, the internet-based precious metal exchange for private investors, hired Steve Kowal as its new head of global business development as it moves to expand its offering to advisors and platforms. Kowal joined from Skandia Investment Group, where he was head of open architecture and managed commercial relationships with third-party providers.
Gore Browne Investment Management, the UK-based discretionary private client investment manager, strengthened its investment team with two new hires from Barclays Wealth. GBIM has recruited Chris Rogers and Simon Jackson from Barclays Wealth to work as investment managers at its primary office in Salisbury.
Scotland-based SL Capital Partners, the private equity fund-of-funds firm, promoted Graeme Dunbar to investment director of the investment team in Edinburgh. Graeme joined SL Capital in 2008, prior to which he spent 10 years at KPMG in the UK and Australia, latterly as a manager in corporate finance acting as lead advisor on M&A and private equity transactions.
SKAGEN Funds, an independently-owned asset manager, hired Tim Gordon and Nick Henderson to support its UK client relations unit. Henderson joined from Financial Dynamics
The London-based legal firm Bircham Dyson Bell made two partner promotions within its private wealth management department. The promotions of Henry Cecil and Hugo Smith to partner level bring the total number of partners at the firm to 48.
UK-based Aberdeen Asset Management Life and Pensions appointed Helen Webster as its new chief operating officer. Webster joined from Aegon Asset Management, where she was a director of Aegon’s offshore funds business and was responsible for product development and distribution strategy.
Merchant Securities, a financial services firm that began as a private client brokerage, hired the former head of WH Ireland’s wealth management unit to help grow its wealth services. Lindsey Hamilton joined Merchant Securities Wealth Management as a sales director.
London-based Ingenious Group appointed Neil Forster as group chief operating officer, in addition to his current responsibilities as group finance director. As group finance director Forster has been responsible for all financial management and governance since 2008, when he first joined the firm.
City of London Investment Group, the UK-based emerging markets asset manager, appointed Rian Dartnell as a non-executive director with immediate effect. Dartnell is chief investment officer of Granite Associates, where he is responsible for setting and implementing the firm's investment strategy.
London-based wealth boutique Xcap lost two managers, Kas Kabbani and Drew Garland, just eight months after they started at the firm. Kabbani and Garland, managers at the firm’s Wilmslow office, joined Xcap from WH Ireland last September.
Ignis Asset Management sales and marketing director Jonathan Polin, has left the firm. Polin, who had been at the Glasgow and London-based asset manager for seven years, left at the end of July.
HSBC Global Asset Management appointed Guy Dunham as its head of fixed income in London. Dunham joined HSBC GAM from Bank of International Settlements in Basel, where he was latterly head of portfolio management, responsible for the team that provides asset management services to central banks, monetary authorities and official institutions.
GHC Capital Markets, the London-listed investment manager, appointed David Rowley as northern regional relationship manager as part of moves to target IFAs based in the region. Rowley is himself an experienced IFA, having spent 16 years as an advisor running his own practice.
As part of a drive to expand its UK and Europe, Middle East and Africa operations, Morgan Stanley appointed Martin Davison and Glenn Palmer as executive director and vice president respectively for its private wealth management division, covering EMEA clients in the UK. Both joined the New York-headquartered firm from Barclays Wealth and will be based in London.
RSM Tenon appointed former Macquarie director John Porteous to head up its investment and technology operations, He was latterly head of distribution for Macquarie, before the Australian bank left the IFA market in the UK. His new role will include developing additional direct-to-market services for clients.
European fund manager Cevian Capital appointed UK Labour
Party peer Lord Myners as chairman of its UK operations and a partner at the
firm. During a long career, Lord Myners has acted as chairman of Gartmore
Investment Managers, Land Securities, Marks & Spencer and Guardian Media
Group and vice-chairman of PowerGen. His directorships include Mm02,
Bank of New York, and NatWest.
Piero Grandi, managing director of Lloyds International Private Banking in Switzerland, stepped down and is to be replaced by Russell Galley, previously managing director of savings, investment and protection within the group's retail bank
Union Bancaire Privée appointed Alan Mudie as chief investment officer at its private banking division. Mudie joins the Geneva-headquartered private bank from Banque Syz, where he was most recently head of fund research. He has also worked at BNP Paribas International Private Bank, where he was CIO.
Banque Syz appointed Katia Coudray as head of fund selection and product development. Coudray joins the firm from Union Bancaire Privée, where she had been head of multi management, fund research and advisory for ten years.
Hyposwiss appointed Kurt Frischknecht to head the firm’s private banking operations in Switzerland, Germany and Austria. Frischknecht, who takes up his new role at the start of July, has been with the bank for the past decade and was most recently a senior relationship manager. He will now report to Andreas Moser, head of private banking at Hyposwiss.
Barclays Wealth appointed Thomas Roiz as managing director and market head for Latin America within its International Private Bank unit for Europe, the Middle East and Africa, based in Switzerland. Roiz joined from Royal Bank of Canada (Suisse), where he spent the last two years as head of Latin America. Prior to this role Roiz was the managing director in charge of Brazil at Citi Private Bank (Suisse) from 2002 to 2009. Rioz will report to Patrick Ramsey, market manager for Latin America at IPB EMEA and general manager of Barclays Bank (Suisse).
Mirabaud & Cie announced the departure of senior partner Thierry Fauchier-Magnan, who will retire at the end of the year as his daughter Camille Vial joins the management team as a partner. Vial, currently head of portfolio management for private clients at the firm, has been with Mirabaud for ten years and will become its first female partner.
Rothschild Private Banking & Trust made two major new appointments, naming Marco Schaller as head of service management and offering development, and Andreas Bickel as head of strategic asset allocation and advisory in Switzerland.
Schaller was latterly with UBS, where he had held various roles, including global head of financial intermediaries, head of Italy for investment products and services and – most recently – global head of value-based investing. Bickel joins from Goldman Sachs, where he was head of the portfolio management group. Schaller and Bickel take up their Zurich-based roles on 1 December and 1 September, respectively.
Falcon Private Bank named Heiner Weber as head of its new Geneva office. Weber latterly led the bank’s Middle Eastern private banking desk.
The Stonehage Group appointed Shelby du Pasquier to its board in Switzerland. Pasquier is a partner and head of the banking and finance group at Lenz & Staehelin in Geneva, where he advises a number of Swiss and international financial institutions.
Standard Bank Offshore named Mark Hucker, latterly managing director at Key Trust, as its new chief risk officer, charged with developing and maintaining a risk management framework for the group’s operations across Jersey, the Isle of Man and Mauritius. He will be based in Jersey.
East Capital hired three new advisors: Al Breach, a former economist at UBS and Goldman Sachs; Torbjörn Becker, who focuses on Eastern Europe and was latterly director of the Stockholm Institute of Transition Economics at the Stockholm School of Economics; Christer Ljungvall, who focuses on China development, specialising in growth, institutions, regional development, financial stability and China’s banking system.
Standard Bank Offshore added Sheena Maddrell to its IFA team in the Isle of Man as a business development manager with responsibility for Europe. Maddrell started her career with Royal Skandia Life Assurance Isle of Man. She has also spent two years in Barbados, and from 2008 worked in financial services in the Isle of Man.
Gottex announced that its co-founder, Max Gottschalk, moved to Hong Kong to help grow the company’s business in the Asia-Pacific region.
JP Morgan Private Bank appointed former senior UBS manager Rebecca Lum as market manager for China, to be based in Hong Kong. Lum reports to Andrew Cohen, chief executive of JP Morgan Private Bank in Asia, and will join the private bank’s Asia operating committee.
Northern Trust appointed four new members to its client service teams in London and Guernsey: Kripa Sethuraman, most recently managing partner for the Family Office Exchange, joined as a wealth strategist in London, where she will focus on expanding the US firm's family office services in Europe; William McGilivray, previously a vice president of project management at Northern Trust, transitioned to a new role as a London-based wealth strategist to focus on building the firm’s client base in the Middle East; Simon Lawson joined as a senior account manager in the Guernsey office from JP Morgan.
Credit Suisse appointed Paul Hawkins as a managing director and global head of commodities, and Jan Stuart and Andy Shaw as members of its commodities research group within the fixed income research department. Hawkins was most recently at LITASCO, the Geneva-based marketing and trading company for Russian oil company Lukoil; Stuart was latterly at Macquarie Securities Group; Shaw joins from BHP Billiton, where he was manager of business analysis.
Based in London, Hawkins, who will take up his new role in August 2011, reports to Gael de Boissard and Tony Ehinger, co-heads of Global Securities. Stuart will begin in his new position as head of energy research on 1 September, and be based in New York. Shaw will start as head of base metals research in late July and be based in Singapore. Both will report to Ric Deverell, head of commodities research.
Goldman Sachs announced the election of Dr Debora Spar as an independent director of the firm; Dr Spar will be a member of each of the firm’s audit, risk, compensation and corporate governance and nominating committees. Dr Spar is president of Barnard College, the New York-based liberal arts college for women prior to which she spent 17 years on the faculty of Harvard Business School.
HSBC appointed Simon Williams as group head of wealth management, effective 11 July and based in Hong Kong. Williams is currently chairman and chief executive of Camelot Financial Capital Management, a US-based investment group. Prior to this he was a senior executive at Citigroup, where he held various roles during his career including CEO of Citibank International Retail Bank. In his new role he reports to Paul Thurston, the firm’s CEO of retail banking and wealth management.
Morgan Stanley made two hires to its private wealth management business in Dubai:
Ghada Ragheb joins as vice president of private wealth management and will also work as an investment advisor; Kshitij Sawhney joins as an associate and investment advisor. Ragheb was formerly a vice president at Credit Suisse, covering Abu Dhabi and Dubai, and has also previously worked at ABN Amro. Sawhney was formerly at Goldman Sachs, where he was a senior financial analyst based in London.
Europe Arab Bank appointed Ziyad Akrouk as its new chief executive. Akrouk joins the European subsidiary of Arab Bank from Citibank in Kuwait, where he was latterly chief executive and country officer, with responsibility for Citi's corporate, investment and private banking business lines.
Barclays Wealth appointed Nomkhita Nqweni as global market manager for Africa. She is currently the chief executive of Absa Wealth, and will continue in this capacity. Meanwhile Chris Hocking, former market head for Barclays Wealth International Private Bank Africa Offshore departed the firm amicably.
The former head of international wealth at Barclays Wealth in Dubai, Tony Sareen, left to launch a private banking division at Commercial Bank of Qatar. Sareen joined the latter in March this year as a senior vice president and head of private banking.
Merrill Lynch added three to its wealth operations in the Middle East: Leila Alameddine, Shereen Ghobrial and Utku Balik joined as market manager for the Levant, regional sales manager and business strategy and initiatives execution manager respectively, with the former based in Beirut and the latter two in Dubai.
Alameddine joins from Audi Saradar Private Bank, where she was an executive manager covering clients in Europe and the Middle East. Ghobrial was most recently at Abu Dhabi Commercial Bank as the regional head of wealth management for Abu Dhabi and Al Ain. Both Alameddine and Ghobrial report to Tamer Rashad, head of Middle East for Merrill Lynch Wealth Management.
Balik previously worked for Emirates NBD Private Banking in Dubai as head of business development, responsible for business strategy and project management. He reports to Michael Tolentino, chief operating officer for the firm's wealth management operations in EMEA, and to Rashad.
NCB Capital appointed Faysal Badran to the newly-created role of chief investment officer. Badran spent the past five years at NCB as chief financial officer and head of international strategy and expansion.
Julius Baer named Edmond Carton, formerly at Credit Suisse, as its new head of the Middle East and Eastern Mediterranean. At Credit Suisse, Carton had been head of the ultra high net worth segment for the Middle East, India and Turkey. In his new role Carton reports to Rémy Bersier, CEO of the Eastern Mediterranean, Middle East, Africa and European francophone markets. Carton succeeds Olivier Meystre, who held the role for two years and is also credited with building up the Cairo office as head of Julius Baer (Middle East) Advisory. Meystre is not leaving the bank, but will rather act as senior advisor to Bersier going forward.
Rothschild Private Banking & Trust made a number of changes to its top-rank team. Dr Reinhard Krafft, the founder and owner of Jupiter Group, Luxembourg, joined as the chief executive of its German wealth management arm, Rothschild Vermögensverwaltungs-GmbH. He will initially lead the company together with existing CEO Hayo Willms, assuming sole management responsibility as of 1 September.
Krafft is the founder and owner of Jupiter Group, Luxembourg.The German business will work with Thomas Pixner, head of private clients at Rothschild Bank Switzerland, and Dr Martin Reitz in his role as country head of the Rothschild Group in Germany. The firm also recruited Professor Alexander Kolb to its new advisory board.
Citigroup hired Eric Coutts and Arnaud de Marmiés as joint Citi country officers, replacing Jean-Claude Gruffat, who was named European chairman of the Global Subsidiaries Group. In addition to assuming the role of CCO, Coutts will retain his current position of head of global banking for France, and de Marmiés will continue as head of markets for France, Belgium and Luxembourg.
Northern Trust appointed Clive Bellows as its new country head for Ireland. Bellows rejoins the firm, having previously worked as head of relationship management for the global fund services and investment manager liaison group in London between 1997 and 2003. He was most recently a managing director with responsibility for EMEA asset managers and hedge funds at JP Morgan. In his new role he is to be based in Dublin and will report to Toby Glaysher, head of global fund services in Europe.
Northern Star Group hired Maxim Achkasov, formerly a senior advisor at the asset management arm of Finnish banking co-operative Osuuspankki Pohjola, to head its UCITS-compliant long-only Russian equity fund. Achkasov was also appointed as the firm’s head of investment management for Russia and will be based in Moscow.
Dalton Strategic Partnership appointed Keith Busuttil as an analyst on its European absolute return equities team, based in London. Busuttil was latterly at Blackstone, where he was vice president in the European debt restructuring team.
Deutsche Bank made two hires to its Russian private banking business: Tim Knoll as head of private wealth management for the country and Elena Loginova as head of key clients. Knoll had been chief operating officer and business manager for private wealth management within Deutsche’s Russian arm from 2007. Loginova rejoins Deutsche from Pioneer Investment Management, where she had been general director since 2007. She first worked at Deutsche Bank Russia between 1998 and 2004, during which time she was first deputy head of custody and then went on to become head of depositary.
Berenberg hired Richard Brass as a senior manager for its new UK private banking arm. Brass was formerly at Schroders Private Banking, where he was a client director.
Lombard Odier Investment Managers appointed Ian Clarke as its new deputy chief investment officer for fixed income and currencies. Clarke was latterly head of internal fixed income at the Abu Dhabi Investment Authority, where he worked from 2003, including three years with Stéphane Monier, who he reports to in his new position at LOIM.
Bank Sarasin & Cie appointed Gianluca Grissini as head of its Lugano branch, with responsibility for the Italian private banking market. Grissini, who will report directly to Eric Sarasin, head of the private banking division, has worked at the firm since 2008.
SwissLife Banque Privée appointed Ylan Cattan as a private banker in charge of private clients. Cattan was latterly a private banker at Barclays Patrimoine, which he joined in 2004. Prior to this role he was a real estate asset manager at Liins (Groupe Marceau Investissement). He reports to Daniel Resta, in charge of private clients.
VAM Funds hired Chris Leyshon to its institutional sales team. He was formerly at Wellington Management where he worked in client relationship management and new business development across Europe.
HSBC Private Wealth Solutions named Chris Marquis as managing director of its Hong Kong operations and Gareth Morgan and Mike Buhre as global chief risk officer and global chief financial officer, respectively.
Deutsche Bank Private Wealth Management hired Farooq Choudhury as director and head of non-resident Indian Middle East, Shampi Chopra as director and senior relationship manager for global South Asia and the Middle East, and Rajesh Mahadevan as director and head of investment advisory, global South Asia and the Middle East. Omar Farooq joined as director and senior relationship manager for global South Asia and Pakistan.
Standard Chartered Private Bank appointed Sandeep Das, previously general manager for premium and consumer banking at Standard Chartered India, as head of private banking for India. Based in Mumbai, he reports to Stephen Richard Evans, head of the private bank, Europe Middle East and Africa, India and the Americas, and to Sanjeeb Chaudhuri, regional head, South Asia and Group Chief Marketing Officer for Consumer Banking. He took over from Soumya Rajan, who left in March 2011.
Serge Janowski, the chief executive officer and head of wealth management of the Hong Kong division of French bank BNP Paribas, resigned after half a year. Mignonne Cheng, chairman and CEO of BNP Paribas Weath Management Asia Pacific and his former boss, took over his responsibilities in the interim until a replacement is found.
HSBC appointed Simon Williams as group head of wealth management effective 11 July. Williams joined from Camelot Financial Capital Management. He reports to Paul Thurston, chief executive of retail banking and wealth management.
Deutsche Bank hired Chris Selby as the head of private wealth management in Australia. Selby came from Bank of America Merrill Lynch where he was head of wealth management for Australia and New Zealand. He took over from Steven Skala, who was acting head of wealth management for almost a year and a half. Skala remains involved in the business as vice chairman of the bank in Australia.
Italian-owned Pioneer Investments shifted its investment activities from Singapore to London. Singapore is currently being groomed as its primary sales hub for Asia.
Merrill Lynch managing director Jay O'Neil was named head of Macquarie Private Bank's Australian operations.
JP Morgan’s private wealth management arm raided DBS Private Bank for four senior private bankers including North Asia Chief Edwin Lim, named managing director, market manager for Greater China based in Hong Kong. Gabriel Chan was also named managing director in Singapore to lead PWM Greater China bankers. He was previously the team head for China/North Asia markets. Patrice Huang joined as vice president in Hong Kong from DBS, where she was team head for the PRC and Taiwan markets. Eric Goh joined as executive director and investor team leader for PWM in Singapore. He used to be the head of the investment advisory group and regional head of investment consultants at BNP Paribas Wealth Management.
Veteran private banker Lionel Kwok joined HSBC Private Bank as head of investment counseling, Asia, after only a year in his previous role at Standard Chartered Private Bank. He will be based in Hong Kong and will oversee the investment counseling team.
Ascalon Capital Managers, the fund manager owned by WestPac, hired Chuak Chan to lead its newly-established Asian operations. Chan previously served as chief operating officer at Segantii Capital Management.
Singaporean wealth management consultancy Tria Investment Partners moved its representative office to Hong Kong from Singapore in a bid to capture a wider share of the Chinese wealth management market.
PIMCO Australia appointed Eric Frerer as executive vice president and account manager. He will work with John Wilson, head of PIMCO Australia, Ben Kelly, the account manager, and Matthew McLenaghan. He was previously the global head of institutional fixed income distribution for ANZ’s global markets division.
HSBC India recruited Srikanth Srinivasamadhavan as head of marketing for HSBC India, joining from Hindustan Unilever, where he most recently held the role of head of media services, South Asia. He reports to Gannesh Bharadhwaj, head of retail banking and wealth management, HSBC India, and replaced Maitri Kumar, who returns to the US.
Gottex, the independent global alternative asset management group, relocated its co-founder, Max Gottschalk, to Hong Kong to help grow the company’s business in Asia Pacific.
Nicholas Tan left his position as head of global wealth management at OCBC Tan is
understood to be planning to increase his involvement with Singapore Management University, having been teaching there for the past two years as an adjunct staff member. Tan was with OCBC for six years.
Schroders hired Rajeev De Mello as head of Asian fixed income. De Mello takes over from How Phuang-Goh, who retired after 17 years at the firm. He was previously the country head of Singapore and senior investment officer for Western Ass.
Barclays’s private banking unit in India announced plans to expand headcount by up to 25 per cent this year, its India wealth unit chief executive Satya Bansal said.The bank expects its business to expand by a third over the next three years.
Pictet Asset Management hired Lawrence Tse to lead its retail and wholesale distribution operations in Asia. Tse was previously the chief marketing officer at Allianz Global Investors in Hong Kong.
BNY Mellon Asset Management hired Alan Harden as chief executive of Asia-Pacific. Harden was previously the Asia-Pacific chief executive for ING Investment Management.
BSI Bank, the Swiss private wealth manager, established a new North Asia team in Singapore. The group is led by Ng Tse Meng as managing director. Ng joined from Credit Suisse.
FNZ, the wealth management technology developer, appointed Martin Jennings as chief operations officer for Australia and New Zealand. Jennings relocated to the Sydney office from London and reports to Adrian Durham, the group chief executive.
Citi Private Bank hired three investment counselors to its investment advisory and sales unit in Singapore. Goh Kwang Meng joined as a director from HSBC Private Bank in Singapore. Goh Siew Leng, joined as a director from Credit Suisse Private Bank in Singapore. Frances Lim joined as a vice president and was also latterly at Credit Suisse Private Bank in Singapore. All three report to Manav Abrol, South Asia head of investment advisory and sales.
The Halberg Trust, the New Zealand-based charity group, has announced two senior hires to its fundraising and events unit. Grant McCabe was appointed as a manager, with responsibilities including the management of the Westpac Halberg Awards, and Elissa Downey was appointed communications and marketing manager. McCabe takes over from Julie Ryan.
HLB Mann Judd, Australian financial advisory firm, grew its wealth management division with the recent takeover of boutique planner Howard Financial Partners. The acquisition brings HLB's wealth staff numbers from six to 11, with Howard Financial Planners principal Howard Jacob taking the lead as director of the newly merged entity.
Standard Chartered hired Sanjeeb Chaudhuri as the new regional head of South Asia for consumer banking, a division that covers the firm's wealth management business. Chaudhuri, who took over from Vishu Ramachandran, was previously the chief executive of retail and commercial banking for Central and Eastern Europe, West Asia, and Africa at Citibank. Ramachandran maintains his duties as regional head for the Middle East, Pakistan, and Africa and took the role of chief marketing officer.
UBS Wealth Management hired a five-strong team in Asia from US rival Morgan Stanley. Peter Tung and Harry Pang joined as managing directors reporting to Amy Lo, head of ultra high net worth business in Asia Pacific. They bring with them three assistants. The US bank replaced Tung internally with Nick Chan, a managing director who starts soon as sales manager for Taiwan.
The Industrial and Commercial Bank of China Asia launched a new branch in Hong Kong aimed at affluent customers in the region, the bank's fourth new branch in six months. The new office in Hong Kong's Quarry Bay features a so-called Elite Club Wealth Management Centre.
HSBC Private Bank bolstered its international trust and fiduciary unit with three senior internal appointments. Chris Marquis was promoted to managing director of private wealth solutions, Hong Kong, after several years working in the PWS divisions in Europe and Asia. Gareth Morgan became global chief risk offer, PWS, while Mike Buhre is now global chief financial officer for PWS.
Selby Jennings, the London-based recruitment firm with a wealth and private banking business, is launched a Singapore office. Business out of Asia has grown by 68 per cent over the last three years, said the firm.
Bank Julius Baer added two industry specialists. Mark Matthews was recruited last month as head of research for Asia, from Maquarie Bank where he was Asia strategist. Dr Lee Boon Keng was promoted to sole head of the investment solutions group in Singapore. He was previously co-head of the division. Matthews reports directly to Dr Lee and is also based in Singapore.
Deutsche Bank Thailand chief country officer Manfred Schmoelz resigned. Schmoelz will likely join Royal Bank of Scotland for a similar lead role in Singapore. He has been on gardening leave from Deutsche Bank for the last two and a half months.
HSBC Private Bank hired Sammy Shroff from JP Morgan as head of FX and precious metals in Hong Kong. Shroff was previously the executive director of JP Morgan's private banking business in Asia.
Citigroup appointed a new country head for Indonesia. Tigor Siahaan took over from Shariq Mukhtar, who will be moving to Singapore for a new position.
Kirby Daley, a veteran strategist at the Asia business of broker Newedge was poached by a family office as co-chief investment officer. He will join a family office outside of the region.
Barclays Wealth added six investment representatives in the US, strengthening its presence in the key markets of Boston, New York and Washington DC.
In Boston, Daniel Caso joined the firm from Merrill Lynch, where he worked for the past four years. Before working at Merrill Lynch he was a managing director in the private client services division of Bear Stearns. He reports to Marty Courage, regional manager for Boston.
In New York, Barclays Wealth hired Robert Miller from Goldman Sachs, where he had worked since 1996 and was most recently part of the wealth management division, and Jorge Carreras and Carlos Molina from Morgan Stanley Smith Barney’s private wealth unit.
Miller, Carreras and Molina report to Mark Stevenson, regional manager for New York.
In Washington DC, the bank brought in Douglas Bayer and Joseph Gilbert as investment representatives from MSSB.
Citi Private Bank hired Alexander Zaharoff as managing director and head of the North America investment lab.
Zaharoff will be based in New York and report to Steve Bodurtha, head of investments for North America. He joins Citi from Carleon Capital Partners, a New York-based private wealth firm focused on ultra-wealthy families.
Northern Trust appointed Brian Donovan as the new managing director of its Stamford, Connecticut office.
Donovan will be responsible for leading the Connecticut office and coordinating business development efforts throughout the state, as well as being a senior wealth advisor working with clients on wealth management and trust administration.
Donovan joined Northern Trust last year as a senior vice president and wealth advisor. Prior to joining Northern Trust, he served as a senior manager at Ernst & Young in Stamford focusing on tax, estate planning, and financial planning for HNW individuals. Three former consultants at The Gleason Agency spun off the financial services division of the firm to create a new entity focusing on wealth management.
DSF Wealth Management Group, built by Gleason consultants Peter Diulus, Dennis Spangler, and Ryan Franks, will take over the clients of Gleason Financial, who will continue to work with their current representatives. Joining the trio as associates are Michael Wolfe, Jay Shaffer, and Neil Crowell.
UBS Wealth Management Americas hired 38 financial advisors in June, who had a combined $24.3 million in annual production and managed $2.8 billion in client assets.
Among these, the Swiss bank recruited Irwin Shapiro from RBC Wealth Management, a unit of Royal Bank of Canada, to its Beverly Hills office. Shapiro generated $1.7 million in fees and commissions, and had $420 million in assets under management. He reports to David Bigler, complex director.
Other new hires include Dimitrios Michelis and Garrick Montenegro, who joined UBS in New York from JP Morgan. The two advisors, who report to complex director Mara Glassel, had $1.4 million in combined production and managed $110 million in client assets.
Bessemer Trust continued to strengthen its operations with another key hire in San Francisco.
Kennen Hagen joined the branch as a managing director and head, reporting to Mark Lipson, the western region head. In this new role, he is responsible for wealth management services for clients in Northern California and the Pacific Northwest. Prior to the appointment, Hagen was an independent advisor for private equity firms.
Sovereign Bank, the wholly-owned subsidiary of Banco Santander, appointed Carlos Garcia as chief of staff.
Garcia was the chairman of the board, president and chief executive of the Government Development Bank of Puerto Rico and brings 15 years of experience in the financial services industry. In his new role, he will also serve as chief of corporate affairs and communications officer. He takes over from Edvaldo Morata and reports to Jorge Moran, president and CEO of Sovereign Bank and country head of Santander businesses in the US.
Citigroup announced that Jerry Grundhofer resigned from the board of directors of both Citigroup and Citibank.
Grundhofer left to serve as chairman of Santander Holdings USA, the wholly-owned subsidiary of Spain's Banco Santander. He started on 1 July.
Ohio-based Huntington Bancshares hired Marita Grobbel from Northern Trust as a senior trust officer in Southeastern Michigan.
She is charged with assisting in managing the East Michigan trust and asset management team at Huntington and helping to grow the firm’s Wealth Advisors Group, which works with business owners and professionals on wealth creation, preservation and transfer.
At Northern Trust Grobbel was president and managing director of the Grosse Pointe office.
New York-listed First Republic Bank appointed Linnea McArt as a managing director in Los Angeles, California.
McArt latterly worked for Citi Private Bank in Los Angeles for seven years and was most recently senior vice president. Before that, she worked for Goldman Sachs.
Bank of America Global Wealth & Investment Management president Sallie Krawcheck announced that Andy Sieg, head of BofA Merrill Lynch's retirement services division, will be assuming an additional role as head of global investment solutions.
The company said that Sieg will be instrumental to driving further collaboration across GIS and retirement services, specifically in areas of planning tools, specialist coverage, and institutional consulting.
Morgan Stanley Investment Management appointed Cyril Moulle-Berteaux as managing director and head of the global asset allocation team.
Moulle-Berteaux steps in from the hedge fund firm Traxis Partners, which he co-founded. He rejoins MSIM after working with the company from 1995 to 2003 as head of asset allocation, head of asset allocation research and a research analyst.
Going forwards, he will assume the day-to-day management responsibilities for all investment vehicles under the long-only business. He takes over from Henry McVey, who was appointed head of global macro and allocation at KKR & Co, and reports to Ruchir Sharma, head of emerging markets equity.
TD Wealth Management appointed Mark DiGangi as vice president of private banking in Burlington, Vermont.
DiGangi previously served as a retirement specialist at Morgan Stanley and as a senior relationship manager in business banking at KeyBank. He will be responsible for coordinating financial services specialists serving high net worth clients in the state.
Northern Trust’s personal financial services business is pushing into the Washington DC market and appointed Joanne Stringer as a managing director there, charged with leading a new office.
Stringer previously led a number of office openings for Northern Trust, both in the US and abroad. Internationally she held roles such as head of business development for the Nordic region of Europe for Northern Trust's corporate and institutional services division.
She took over the role directly from her previous position as MD of the Stamford, Connecticut PFS team, which in turn was taken over by Brian Donovan.
Going forwards, Stringer will be responsible for the overall strategy and direction of the personal financial services team in Washington DC, leading around 20 people. She will focus on building the team, sourcing new business and building the firm’s brand in this new market.
Alabama-based Regions Bank created a new wealth management unit that integrates its trust, private banking, and insurance operations.
The group will be led by Bill Ritter, who most recently served as senior executive vice president and central region president. His old post as central president will then be occupied by John Turner, previously the president of Whitney National Bank. Both will report to Grayson Hall, the president and chief executive.
BNY Mellon Asset Servicing strengthened its equities franchise with the appointments of David DiNardo as chief operating officer of securities lending and Robert Chiuch as managing director of the same unit.
DiNardo joined the securities lending division in 1994 and served as manager since 1997. In his new post, he reports to James Slater, who he succeeds following the latter's appointment as global head of securities lending.
Chiuch joins the company from CIBC Mellon, where he served as co-head of global securities lending. He will be based in New York for his new position and will also report to Slater.
The Boston-based wealth management firm Silver Bridge promoted Allison Taff to take on broader responsibilities as director of strategic planning, a newly-created role. She was previously director of family officer partners at the firm.
As director of strategic planning, Taff’s responsibilities will include managing partnerships with external firms, to provide services Silver Bridge does not offer itself.
She joined Silver Bridge in early 2009.
Going forwards, the firm’s chief executive Steve Prostano will continue to oversee the family office partners division, and Taff will remain involved with this side of the business. As such there are no plans to extend the team at this point.
Burnham Gibson Financial Group, the California-based financial planning firm, appointed Tia Cirksena as director of retirement services.
Cirksena previously held senior positions at Principal Financial Group, MetLife, and Transamerica Retirement Services. In addition to dealing directly with clients, she will be contributing to operations, client retention programs, and related development strategies.
Affiliated Managers Group, the New York-listed asset manager, selected Andrew Dyson for the newly-created position of executive vice president, with responsibility for the company’s global distribution platform. He will be based in AMG’s office in London.
Dyson joins the firm from one of its competitors, BlackRock, where he was head of the global institutional client business. He was previously responsible for international distribution at Merrill Lynch Investment Managers, which merged with BlackRock in 2006.
US-based Guggenheim Partners appointed Bryan Moss as chairman of its business aircraft investments activities, a role in which he is charged with expanding this division’s global reach.
Moss was previously the vice chairman and president of Gulfstream Aerospace, a subsidiary of General Dynamics Corporation. He is also a former executive vice president of the parent company. In the past he served on councils such as the US-China Business Council and he currently sits on the board of directors of RTI International.
Bank of America said it is poised to double its roster of financial solutions advisors to over 1,000 before the end of 2011 as it moves to capture a wider share of the country's mass affluent.
New Jersey-based advisor Brinton Eaton appointed Mary Ellen Hancock as a financial advisor.
Hancock is a certified financial planner practitioner and joins the company after 12 years at Wells Fargo Private Bank, where she held various roles, including client management associate, financial advisor and reigonal financial planner.
In her new role at Brinton Eaton, she will be part of a team that specializes in financial planning, income tax and estate planning, investment management and family office services.
Northern Trust appointed John Hoffman as president of its New York personal financial services business, a role in which he is responsible for overall management of the division.
Hoffman joined Northern Trust when it opened its New York office back in 2003, where, as a senior wealth advisor, he helped develop the wealth advisory unit. Before joining Northern Trust he was with US Trust for eight years, latterly as a senior vice president within the firm’s high net worth planning group.
In his new position Hoffman reports to Jeff Kauffman, northeast region president and chief executive.
Citi Private Bank appointed Patricia McDermott – latterly of US Trust – as a managing director and head of the bank in Connecticut and Westchester.
At US Trust, part of Bank of America Private Wealth Management, McDermott was managing director and market executive for Westport and New Haven, Connecticut. She joined that firm in 2007 from BNY Mellon Wealth Management, where she was Connecticut market leader.
In her new position at Citi she is based in Greenwich and reports to Paul Hubert, eastern regional executive.
New wealth manager Canal Capital Management opened its main office in Shockoe Slip in Richmond, Virginia, a month after it was established.
The firm was set up by Neil Gilliss, a former a partner at Johnson and GiIliss Wealth Management Group, to provide financial planning and investment management services for individuals, business owners and endowments.
Gilliss brought a number of employees to the new venture, including Charles Renner, marketing director; Noah Greenbaum, advisor; Hunter Hopcroft, research analyst; and Charlene Harkrader, director of client relations.
Paracle Advisors, the Mercer Island, Washington-based wealth management firm, named Scott Szeman as its new chief investment officer.
In this role Szeman will be responsible for the overall investment strategy and investment research responsibilities of the firm. The firm said his appointment was part of plans to strengthen and enhance its investment advisory services.
St Louis-based Enterprise Financial Services appointed Joseph Gazzoli as the new chief executive of Enterprise Trust, its wealth management and trust unit.
Gazzoli’s most recent employer was AHM Financial, also in St Louis, Missouri, where he established an asset management capability. Before that he was responsible for wealth management at UMB Financial, based in Kansas City in the same state.
Wealth Management Solutions, the advisory firm which is part of Prudential Financial, appointed John Yackel as senior vice president and director of sales and relationship management.
Yackel most recently worked with ultra high net worth clients at Fortigent. Before that, he was with SEI. His expertise covers banks, trust companies, registered investment advisors and family offices.
Religare Global Asset Management, the multi-boutique asset management arm of Religare Enterprises, named Alan Berkshire as president for North America.
Berkshire most recently served as founding partner at Estancia Capital Management and worked for over 10 years at Nuveen Investments before that.
Boston Private Bank & Trust hired four senior portfolio managers and promoted two members of staff.
Carl Young and David Goss were brought into the firm as senior vice presidents and portfolio managers, while William Lavelle and Kelly McKernan were appointed as vice presidents and portfolio managers. They will all work with both individual and institutional clients.
Christopher O'Connell was promoted to the role of sales manager, responsible for managing the bank’s sales team, in addition to his responsibilities as a senior vice president and portfolio manager.
Jason O'Connell was promoted internally to become director of research, responsible for overseeing the firm’s analyst staff; coordinating in-house primary research; and managing the relationships with and budget allocations to external research, brokerage, and analytics technology providers. He takes on the position in addition to his role as a vice president and portfolio manager.
NewBridge Bank, the North-Carolina based state-chartered community bank, appointed Bill Green as a senior vice president and private banking executive in Forsyth County.
Green will be based in the Winston-Salem office and reports directly to Jerry Beasley, executive vice president and director of private banking.
Goldman Sachs elected Dr Debora Spar as an independent director of the firm with immediate effect, bringing the number of directors on Goldman’s board to 11, including nine independents.
Dr Spar will be a member of each of the firm’s audit, risk, compensation and corporate governance, and nominating committees.
Dr Spar is president of Barnard College, the New York-based liberal arts college for women. Before joining Barnard in July 2008, she spent 17 years on the faculty of Harvard Business School.
Royal Bank of Canada appointed Heather Munroe-Blum and Bridget van Kralingen to its board of directors.
Dr Munroe-Blum is a member of the Science, Technology and Innovation Council of Canada as well as the committee on research universities of the National Research Council in America.
Van Kralingen is the general manager of North America, IBM Corporation in New York, responsible for strategy, execution, business results and client satisfaction for IBM's businesses in Canada and the US.
PrivateBancorp named Chris Carman as the new regional manager of St Louis and Kansas City for the private wealth division of The PrivateBank.
Carman joined The PrivateBank from the St Louis-based financial technology firm Exegy, where he held the position of senior vice president for business development since 2007. In his new role he will lead the delivery of the firm’s trust, investment management and private banking services, and will also work with the commercial banking team to introduce private wealth services to clients.
UBS Wealth Management Americas brought in a family of veteran advisors from Morgan Stanley Smith Barney for its Charlotte office in North Carolina.
Charles Stoner, his wife Eileen Stoner, son Chuck Stoner Jr and daughter-in-law Christina Stoner, joined the company bringing a total of $3.9 million in fees and commissions and $300 million in assets under management.
Charles and Eileen Stoner were appointed as senior executives at the UBS branch, while Chuck and Christina are client services associates. They will work with other new client service associates Julie Stewartson, Heather Budgick, Julia Krauss and Amy Lowe. They report to Craig Cmiel, complex director, and Dan McLaughlin, assistant branch manager.
Cayman-based Cedrus Investments appointed Denise Gower – latterly the head of marketing for Cayman Finance – as vice president of business development.
Based at the firm’s Grand Cayman headquarters, Gower is responsible for global business development, client relationship management, and marketing.
Prior to working at Cayman Finance, Gower was a senior business development and market manager at the offshore legal and fiduciary services firm Ogier.
CCH Trust Services, part of the Wolters Kluwer business, appointed Patrick Alyward as general manager of Trust US, a tax compliance system for bank trust divisions and wealth organizations.
Alyward joined the company from PNC Bank, where he was executive vice president and director of client services. In his new role he is responsible for the company's overall product strategy, sales and development.
Bermuda-headquartered hedge fund administrator Butterfield Fulcrum appointed Brian Young as a director of business development.
Based in the Pacific Northwest, Young will be responsible for promoting Butterfield Fulcrum’s fund administration services to investment managers across the west coast and mid-west markets. Young, who joined Butterfield Fulcrum in 2010, was previously located in New York.
Citi Private Bank hired Christopher Adams as managing director of investment finance for its New York office.
Adams most recently served as an executive director in the tailored lending group of Morgan Stanley Private Bank, a role he took up in 2009.
He rejoins Citi, having previously worked there for 20 years, including at the firm's private banking and global wealth management businesses in New York and Los Angeles.
BlackRock appointed Terrence Keeley as managing director and head of the official institutions group.
Keeley steps into this newly-created position from Sovereign Trends, where he served as founder and senior managing principal. As part of the BlackRock management team, he is responsible for overseeing the development of the relationships and services the firm provides to clients worlwide, comprising central banks, sovereign wealth funds, and supra-nationals.
In addition, he will also be instrumental in the design and execution of the recently launched BlackRock Investment Institute. He reports jointly to Robert Fairbairn, the senior managing director and head of the global client group, and Lee Kempler, the managing director and executive director of the Investment Institute.
Affiliated Managers Group, the New York-listed asset management giant, appointed John Copeland as president of AMG Wealth Partners, a newly-formed subsidiary focusing on investments in boutique wealth management firms.
Copeland joins AMG Wealth Partners from Morgan Stanley, where he was a senior partner at one of the firm’s largest private wealth management teams. He is also a former managing director at Lehman Brothers in the Private Investment Management business.
In his new role he will be based in West Palm Beach, Florida, and report directly to Sean Healey, AMG’s chairman and chief executive.
JP Morgan Chase & Co made a number of changes to its leadership structure following the announcement that Heidi Miller, president of its international business, will retire early next year.
Miller, a 30-year financial veteran, held roles such as chief financial officer of Citigroup and Bank One, and chief executive of JPMorgan Chase’s Treasury & Securities Services business.
On leaving, she recommended JP Morgan’s international activities be embedded into the various business lines.
Accordingly, the position of Todd Maclin, chief executive of Commercial Bank, was extended to include parts of the retail business, including the branch network, the consumer franchise, small business banking and the Chase private client business.
Charlie Scharf, who heads up retail financial services, will become a partner in One Equity Partners, JP Morgan’s private equity arm. He will continue to work with the retail business to help with the transition, the firm said.
On the investment banking side, Jes Staley, CEO of that business, takes on added responsibilities for the oversight and coordination of the international franchise.
Lastly, Gordon Smith, CEO of card services, will be in charge of JP Morgan’s auto finance and student lending divisions, in addition to his current role.
Integrated Wealth Management expanded its staff numbers with several new hires.
The new appointments include Erin Scott as business development coordinator, John Wong as chief compliance officer and operations coordinator, Melissa Scheinwald as vice president of operations, and Amber Lembo as a documentations specialist.
The entire IWM team is led by president and chief executive Jim Casey.
Curian Capital, an RIA which provides fee-based separately managed accounts to financial professionals, expanded its sales force with the addition of 11 regional consultants covering eight new territories.
The firm added positions for one external consultant and one internal consultant to each additional region, bringing its sales force headcount to 90. To complete the hiring, five more internal consultants will be hired.
Overseeing distribution efforts in the new eastern territories is divisional vice president Mike Petko, while in the west divisional vice president Tim Parkinson will manage the efforts.
The external consultants are Carl Robinson for west Massachusetts, Vermont, New Hampshire and Maine; AJ Amos for Tennessee and east Kentucky; Ben Keith for south New Jersey; Anthony Ramondo for the District of Columbia, northwest North Carolina and Western Virginia; Tom Bauer for southeast Kansas, southwest Missouri, Oklahoma, and northwest Texas; Rodger Hoofnagle for Louisiana and east Texas; Scott Gunderson for North Dakota, South Dakota, Wyoming and Montana; and Dominick McPeake for Oregon and south Idaho.
The internal consultants appointed so far are Will Sherrard for west Massachusetts, Vermont, New Hampshire and Maine; Felicia Lewis for southeast Kansas, southwest Missouri, Oklahoma and northwest Texas; and Jamie Hart for Louisiana and east Texas.
Philip Sachs, a senior vice president at Morgan Stanley Smith Barney, left to become a partner at the advisory firm and multi-family office WMS Partners, taking with him colleagues Christine Buckley and Tanika McNair.
Maryland-based WMS Partners was established by Timothy Chase and Martin Eby in 1992.
Union Bank, the primary subsidiary of San Francisco-based UnionBanCal Corporation, appointed Dennis Mooradian as executive vice president for the wealth markets division, overseeing units including The Private Bank.
Prior to this appointment, Mooradian was executive vice president for the wealth and institutional management unit of Comerica Incorporated, where he led 1,300 employees in the private banking, institutional, personal trust, and 401(k) industries. He has also worked at Wells Fargo, initially heading the private client service division and later leading the financial consultant advisory group.
In his new role, Mooradian will be overseeing several of Union Bank's subsidiaries, including The Private Bank, Highmark Capital Management, and UnionBanc Investment Services. He reports directly to John Erickson, vice chairman and chief corporate banking officer.
City National Bank hired Kristin Stansbury from Northern Trust as a vice president and senior private banker at its private client services team in the East Bay area, San Francisco, California.
Stansbury brings around 20 years of financial services experience to the position and will focus on developing new client relationships at City National. She was at Northern Trust for nearly 18 years.
In her new role she will work with both high net worth families and select non-profit and professional services firms. She reports directly to David Lawrence, senior vice president and manager of private client services in the region.
David Easthope rejoined Celent’s securities and investments team as a research director, based at the research and advisory firm’s San Francisco, California office.
Easthope worked for Celent in the past, joining the firm in 2005 and going on to become a research director there. He left in 2010 to join Charles Schwab, where he worked as a director of strategy until recently.
He specializes in global financial exchanges and market structure, advanced trading technology, and North American retail brokerage.
Bank of America appointed Ken Sheldon as state president of its New Hampshire business.
Sheldon joined predecessor institution Fleet Bank in 1990. In his new role, he will be responsible for integrating Bank of America's business lines in the state and overseeing corporate social responsibility activities, including philanthropic giving and employee volunteerism.
First Republic Bank hired Basant Kedia from HSBC as a senior relationship manager in Palo Alto, California.
Kedia comes from a background of working with venture capital clients, for which the bank has just opened a dedicated office in Menlo Park, California.
Kedia was at HSBC Bank for six years, latterly as a vice president at the Hong Kong-and London-listed banking group. Prior to that, he worked for the US Small Business Administration and the private equity firm Growth Capital Partners.
Oppenheimer & Co added three new members to its institutional sales team.
Bryan Welch, John Edelman, and Fredrik Martenson joined as executive directors in the equities group. They all report directly to Charles Holmes, managing director, head of equities.
Allianz Life Insurance hired Roberta Eckert and Michael Agan as wealth management consultants at its fee-based distribution unit.
Eckert, who joins the company from Genworth Financial where she was head of the sales development team, will be responsible for the Southeast district. Agan, meanwhile, who joins from the AXA Distributors group where he led the retirement income center, will cover the Great Lakes district.
BBVA Compass appointed Shelaghmichael Brown to the board of directors of BBVA Compass, as she leaves her role at the helm of the firm’s retail banking division.
Brown oversaw a network of some 700 branches in her former role, and has also appeared in the list of “25 Most Powerful Women in Banking,” from US Banker.
Going forwards, Jeff Talpas will take over responsibility for BBVA Compass’ retail network and product team. He was latterly in charge of the day-to-day operations of the branch network.
Enrique Gonzalez was appointed to lead the corporate shared services area with responsibility for marketing, customer intelligence and alternative delivery channels.
Brett D’Arcy, the former chief investment officer of CBIZ Wealth Management, founded a new company, D’Arcy Capital Management, following the sale of CBIZ to Mariner Wealth Advisors early this year.
D’Arcy was at CBIZ Wealth Management, as well as predecessor firm Nation Smith Hermes Diamond, since joining in 2003.
The recently-launched firm is headquartered in San Diego, California and will focus its research on the large-cap value stocks and investment-grade bonds spaces. Krysta Cordill, a former senior auditor and planner at CBIZ, also joined the venture as director of advisory services.
Brown Brothers Harriman appointed Mark Egert as director of compliance for its investment management and markets lines of businesses, based at its New York office.
Egert, who will also be the firm’s chief compliance officer for FINRA, will report to Kathryn George, a partner at BBH. He replaces Beth Haddock, who is taking up a role in the firm’s office of the general counsel.
Egert joins BBH from Crowell & Moring’s corporate, financial services and white collar and regulatory enforcement groups where he was responsible for the firm’s regulatory and compliance practice for financial institutions.
UBS Wealth Management Americas added financial advisor David Mattia to its growing team in Rochester, New York.
Mattia was hired from Convergent Wealth Advisors, where he had $1.2 million in fees and commissions and $170 million in assets under management. He reports directly to Sam Messina, the complex director.
Baird ramped up its new San Francisco wealth management office with the hiring of financial advisors Jonathan Fitzgibbons, managing director, and Joyce Linker, senior vice president. In addition to the financial advisory duo, Katherine LeClair was hired as a registered client relationship specialist.
All three joined Baird from ThinkEquity, which is also based in San Francisco, where they worked for several years. Fitzgibbons and Linker oversaw a combined $300 million in assets and generated nearly $2 million in annual production.
Barclays Americas chairman Archibald Cox tendered his resignation, with effect from 30 June 2011, to pursue outside interests.
Cox became part of the UK-listed banking giant in 2009, after serving for several years as chief executive of Morgan Stanley International and as president and chief executive of CS First Boston Corporation. As chairman of Barclays Americas, he had been working with the firm's various leaders to strengthen client relationships and extend the firm's banking platform in the US, Brazil, and Mexico.
HTG Investment Advisors, a firm which caters to individual clients, appointed Valerie Connolly as a senior investment advisor.
Connolly previously held management positions at Krauss Whiting, US Trust, and Fleet Investment Advisors. She has been in the financial services industry for around 25 years and focuses on areas such as retirement planning, wealth transfer strategies and education funding.
The international law firm Bracewell & Giuliani expanded its wealth management practice with the appointment of Glen Eichelberger and Brian Teaff to its Houston office.
Both lawyers joined the firm from Fulbright & Jaworski. In his new role, Eichelberger will focus on trust, estate and philanthropic planning and administration for high net worth clients. Meanwhile, Teaff will be focused on wealth management services, such as dealing with wealth preservation and tax-related concerns.
Minnessotta-based White Oaks Wealth Advisors hired Preston Koenig as a portfolio administrator.
Koenig joined the company from Wells Fargo Institutional Retirement and Trust, where he served as a trust administrator for the last five years. At White Oaks, he will be responsible for day-to-day client relations activities, including account set-up, trading and portoflio management, common fund administration, cash allocation, and disbursement.
Kansas-based asset manager Waddell & Reed appointed Shalisa Pierce as an associate managing principal.
Pierce joined the firm from the wealth management group of the financial services company TIAA-CREF, where she was a vice president.
In her new role, Pierce, a financial services industry veteran of some 23 years, will reportedly oversee 10 financial advisors throughout the Napa area.
JP Morgan Chase appointed Glenn Tilton as chairman of its Midwest business and member of its firm-wide executive committee.
Tilton, who was latterly the chairman and chief executive of UAL Corporation and United Airlines, is now the senior executive across all JP Morgan’s businesses and functions in the region.
He will be based in Chicago for his new position, in which he will focus on recruiting talent, overseeing the firm's charitable contribution budget in the region, and coordinating government and public affairs initiatives, as well as maintaining key relationships with elected officials.
Rockefeller Financial appointed John O’Hara as a managing director and senior advisor.
Based in New York, O'Hara focuses on business development activities for the firm. Given his role in new business development, he will be working across all business groups at Rockefeller Financial.
He was latterly the chief operating officer of Franklin Street Partners, a North Carolina-based wealth management firm, prior to which he was a managing director in the investment management division of Goldman Sachs, and of Commodities Corporation, which Goldman acquired in 1997.
Quarles & Brady, the US law firm, brought in Kirk Hoopingarner as a partner at its trust and estates practice.
Based in the firm's Chicago office, Hoopingarner joins both the trust and estates and tax exempt organizations group. He will focus on trust and estate administration, wealth planning and philanthropy for high net worth families and individuals.
Also joining Quarles & Brady is Nicholas Schmidbauer, as a partner in the intellectual property group. Schmidbauer will work on the preparation and prosecution of patent applications.
American Century Investments appointed Peter Cieszko as head of intermediary and institutional sales in North America.
Cieszko was previously the head of distribution at Fidelity Investments and comes in at a time American Century is looking to expand its sales force in the region. The company also is planning to add to its line of offerings to include more alternative and international-equity products.
Cardinal Bank hired Quentin Roos and Gregory Cartrette as assistant vice presidents for its wealth management division.
Roos and Cartrette, both licensed financial advisors, will join as investment advisors with Cardinal Wealth Services. Both will be responsible for trading and investment oversight, individual portfolio management and business development in their respective markets.
Roos joined from TD Wealth Management; he also previously worked for Smith Barney, Morgan Stanley and UBS Paine Webber.
Cartrette was with PNC Investments; before that, he owned his own financial company in Maryland.
Marcum, the accounting and advisory services company, appointed James Ashe as partner-in-charge of its advisory services group.
Ashe took over from Sam Rosenfarb, who will continue to lead the advisory division in the New York City office. Ashe is responsible for the growth and development of the advisory unit, which provides forensic, bankruptcy, investigative and valuation services.
Morgan Stanley hired Michael Brakey, formerly at Bank of America, as head of high net worth lending.
Brakey, a 21-year industry veteran, is assigned with leading the continued development of lending products, including commercial and securities-based loans, within the investment bank's private banking group. He reports to Mark Connolly, head of products for the business.
UBS Wealth Management hired Tom Ulrich and Nick Bryant from Merrill Lynch Wealth Management as advisors for its Ohio office.
At Merrill Lynch Wealth Management Ulrich and Bryant together generated $1.6 million in fees and commissions, and handled $260 million in client assets. They report directly to Michael Lundon, the complex director.
The fund services firm Butterfield Fulcrum appointed Jeff Nason as managing director, global and strategic relationships, a newly-created position.
For the role, Nason will be based in New York and will be responsible for further developing the company's relationships, particularly with large, complex alternative asset fund groups. He will work with a team of client integration professionals, as well as CAs and CFAs, to provide portfolio and investor reporting.
Before Butterfield, Nason founded and ran the investment firm Marlin Holdings and its wholly-owned subsidiary Marlin Global Insight.
ING Insurance appointed Maliz Beams as chief executive of its US retirement business.
Beams moved to ING after serving as president and CEO of TIAA-CREF's individual and institutional services. In her new role, she is responsible for linking ING Retirement Services and ING Individual Retirement to create a unified operation.
She is based in the firm's Windsor, Connecticut and Braintree, Massachusetts offices and reports directly to Rob Leary, the president and CEO of ING US.
Peregrine Financial Group appointed John Courtright as president of Peregrine Asset Management, and Mark Lishchynsky as president of Peregrine Diversified Investment Services, its RIA subsidiary.
Courtright joined the firm as a managing director in 2008. He takes over the president role from Neil Aslin, who is becoming the chairman of the board of directors for both Peregrine Asset Management and Peregrine Diversified. Aslin is also vice chairman of the parent firm.
Lishchynsky joins Peregrine Diversified, which was established only last year, from Brewer Financial Services. It is unclear who held this role previously.
BNY Mellon Wealth Management added to its Southern California team with the hiring of Boryana Zeitz as a senior portfolio manager for high net worth clients.
Zeitz was previously a trust and estates attorney at Katten Muchin Rosenman and specializes in trust and estate administration, and gift and estate philanthropic planning. She joins a team of 80 professionals in the region and reports directly to James Hillman, regional managing director.
Boutique broker-dealer Financial Advisers of America made changes to its roster of senior managers. Effective immediately, Ken Johnston takes the lead as the firm's chairman, with Jodi Johnston acting as chief executive and Todd Pack as president and chief operating officer.
Previously, Ken Johnston was the CEO, Jodi Johnston the president, and Pack the COO.
In these new roles, Ken Johnson will be responsible for overseeing the firm's growth initiative for 2011, as it targets a wider presence. Jodi Johnston will take care of overall direction, particularly in sales, marketing and recruitment, while Pack will supervise day-to-day operations and due diligence processes.
First Republic Bank appointed Betsy Sullivan as a managing director and relationship manager in Boston, as it continues to expand its coverage of the US market.
Prior to this position, she served as vice president for Boston Private Bank and also previously earlier worked at Sovereign Bank and Citizens Bank. She will be based at the Federal Street office, serving clients in the Boston, South Shore, and Cape Cod areas.
HighTower recruited the Blanke Schein group in Palm Desert, California to its advisor network.
The group is led by William Blanke, Robert Schein and J Michael Shields, all of who took up the role as partners and managing directors at HighTower.
Blanke has 37 years of industry experience, including 20 at Morgan Stanley Smith Barney; Schein has 20 years of experience, having spent the last 10 at MSSB; and Shields had also spent three years at MSSB.