A round-up of executive wealth management moves in the Americas during the month of October 2013.
Citi appointed Anil Wadhwani as head of consumer banking in Europe, the Middle East and Africa, replacing Marc Luet who was recently appointed cluster head for Central and Eastern Europe and Citi country officer for Russia. The area of responsibility at Citi includes wealth management (not including the private bank, however, which caters to ultra high net worth clients). Wadhwani previously served as the head of Citi’s cards and unsecured loans business for Asia and the head of its consumer banking business in South East Asia.
California-based PIMCO, an international investment management firm, hired Virginie Maisonneuve as managing director, global head of equities and portfolio manager. Maisonneuve was previously head of global and international equities at Schroders. In her new role, Maisonneuve is involved in the development and implementation of new equity and asset allocation strategies.
UBS Private Wealth Management added The Binder, Chiate, Oratz & Brown Team in Los Angeles, CA, from Merrill Lynch’s private banking investment group. Binder, Chiate and Oratz all spent the last 13 years as managing directors within the private banking and investment groups at Merrill Lynch. Prior to Merrill, Binder was at Goldman Sachs, where he was a vice president in the private client services division. Chiate spent eight years at Goldman Sachs, where he served as a vice president in the private client services division. Prior to Merrill, Oratz served at Goldman Sachs as a vice president in the private client services division. Prior to joining UBS, Brown spent ten years in the private banking and investment group at Merrill Lynch.
A $129 million team operating as The Borowiak/Sotland Wealth Management Group joined Wells Fargo Advisors’ private client group in Buffalo, NY. The team is comprised of financial advisors and private investment managers Matthew Sotland and Donald Borowiak, who joined from UBS and have 57 years of combined experience in the industry.