People Moves

Summary Of Executive Moves In Global Wealth Management - April 2013

7 May 2013

Summary Of Executive Moves In Global Wealth Management - April 2013

The Private Client Reserve of US Bank promoted Matt Ellison to regional wealth planner for Kentucky, Tennessee and Cleveland and Columbus, OH.

Reporting to Steve Cook, market leader of the PCR, Ellison will work with high net worth individuals and families, with a focus on entertainment and professional sports clients.

Ellison has over 20 years of trust, financial planning and investment management experience. He joined US Bank in 2011 as a wealth management advisor. Previously, he was head of trust and wealth planning at Royal Bank of Canada and has held similar positions at AmSouth Bank.

Wells Fargo appointed Michael Lee as a relationship manager and wealth planning strategist at Abbot Downing in Chicago, IL, as the firm expands its ultra high net worth business operations in the region.

Lee joined from William Blair & Company, where he was a partner and head of corporate and executive services. He also has experience in the areas of wealth, tax and estate planning, having previously been a tax attorney.

In his new role, Lee will focus on issues faced by owners and executives of private and public companies. He joined a Chicago-based team providing planning and family dynamics services, asset management, private banking, trust, fiduciary and administrative services.

San Antonio Capital & Trust Company, a Texas-based wealth manager, hired a new chief executive and president from Bessemer Trust.

Audie Apple, the new CEO, was formerly managing director for Bessemer Trust for the Southwest, based at the US wealth manager’s Dallas office. He is a native Texan. Before Bessemer, he worked at AllianceBernstein in the private wealth division, between 1996 and 2011.

California-based Willow Creek Financial Services added David Homan as a financial advisor.

Homan joined the firm this year from Private Ocean, a San Rafael-based wealth manager where he was a senior wealth advisor. There, he specialized in portfolio management and financial planning for high net worth individuals.

Homan also owns Intersect Marketing Group, an online marketing services firm for small business and real estate professionals. Overall, he has been in the industry 10 years and advises individuals on tax planning, estate planning, risk management, and charitable strategies.

Howard-Sloan, an executive search firm specializing in the legal and financial sectors, hired Alan Goldstein as global practice director of wealth management.

Goldstein has 20 years of industry experience, during which time he has worked with clients in the US, Latin America, Europe, the Middle East and Asia.

In his new role, he will concentrate on private bankers and relationship managers, financial advisors and private client investment managers, working with family offices, wealth managers, hedge funds and asset managers.

BNY Mellon Wealth Management hired Robert Buzzelli as a senior director, based in the firm’s Pittsburgh, PA, office. He will report to regional sales manager Garrett Alton.

Buzzelli was latterly chief banking and wealth management officer at Allegheny Valley Bank. There, he was responsible for sales and service across all lines of business including wealth management and commercial, consumer, and residential lending.

Between 2004 and 2012, he was a managing director at Fifth Third Bank, where he led a team of 28 professionals in the wealth management division.

American Independence Financial Services, a New York-based independent investment manager, appointed Keith Fletcher as vice chairman and a member of the executive committee.

Fletcher has spent the last 30 years building sales, marketing and product teams for traditional and alternative investment products. 

He recently served as chief marketing officer and head of product management for Security Global and Rydex Investments (later Guggenheim Investments), where he was responsible for the company’s exchange-traded products, mutual funds and other related products.

RMB Capital, the independent advisory firm, appointed John Bohan as a senior wealth manager at RMB Wealth Management in Denver, CO.

Bohan’s industry background includes several years as a senior private wealth advisor. He was formerly a managing director at CoBiz Wealth Management, focused on new business development, relationship management and wealth advisory for high net worth clients.

Southfield, MI-based wealth management and consulting firm CIG Corp appointed Howard Margolis as its new managing director of wealth management.

Margolis was previously the managing director and director of wealth management for The Private Bank in Michigan. In that role, he was responsible for daily operations, business development and marketing at the bank’s wealth management, fiduciary and risk management services businesses. He also headed up its national financial advisory services team.

The wealth and investment management division of UK-listed Barclays said its chief executive, Tom Kalaris, will retire from the bank, effective June 30.

In addition to his role as CEO WIM at Barclays, Kalaris is also an executive chairman of Barclays in the Americas and will step down from this position at the end of June. He stepped down from the Barclays executive committee at the end of April.

Rich Ricci, currently the chief executive of the corporate and investment banking arm, decided to retire on June 30, by which time he will have helped to support the establishment of the new leadership team. He has now stepped down from the bank’s executive committee.

Kalaris will work with Peter Horrell, head of Barclays’ intermediaries, international and direct businesses, to implement the transition of responsibilities. Horrell was named interim CEO of wealth and investment management, with effect from May 1, 2013. Horrell will report to group CEO Anthony Jenkins.

Meanwhile, Skip McGee was hired as CEO Barclays Americas, with effect from May 1. He will be the senior executive in the Americas, with geographic responsibility for all of Barclays’ businesses in the region. McGee will also join the Barclays executive committee and report to Jenkins.

In addition, Eric Bommensath and Tom King were appointed co-CEOs of corporate and investment banking, effective from May 1. Bommensath and King take on these roles in addition to maintaining their current responsibilities as head of markets and head of the investment banking division, respectively.

Bommensath and King will join the Barclays executive committee, and both men will report to Jenkins.

Evercore Trust Company, a subsidiary of Evercore Partners, appointed a new chief executive as part of a reshuffle of its executive team.

As of July 1, Charles Wert and Norman Goldberg will become vice chairmen, while Ciara Burnham, currently a senior managing director with Evercore Partners, will succeed Wert as president and CEO. 

Additionally, William Ryan - latterly executive director for legal and compliance and head of ERISA law at Morgan Stanley - will succeed Goldberg as chief fiduciary officer.

BMO Private Bank named Peter O'Connor as a managing director in Hinsdale, IL, and Nate Wasson as a managing director in Naperville, IL, describing these areas as “growing suburban markets.”

Katie Vander Zanden, who previously led both markets, is now chief administrative officer of BMO Private Bank. This is a newly-created role in which Zanden assumes overall responsibility for BMO Private Bank's compliance, audit, initiatives management and administrative functions. She will also lead initiatives designed to improve the overall client experience.

Zanden has over 33 years of financial services experience and has been with BMO since 1996. O'Connor has been a financial services professional for over 26 years and joined BMO in 2000.

Wasson joined BMO in 2011 and was most recently vice president and regional manager for BMO Harris Financial Advisors.

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