People Moves
Summary Of Executive Moves In Global Wealth Management - October 2013

October was a busy month for executive moves in wealth management around the world, as this latest roundup of developments shows. BNY Mellon, for example, continued to build out its global wealth proposition.
North America
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.
Florida-headquartered
Gibraltar Private Bank & Trust hired Douglas Sawyer as senior
vice
president and market executive in Miami, FL. Sawyer is
responsible for
administration and growth of the market's client portfolio as
well as
development of the bank's fiduciary account area. Sawyer joined
Gibraltar from
his role as president at Nason Consulting, a bank consulting
company that
provides strategic, operational, regulatory, management, staff
and market
guidance to community banks.
Dallas,
TX-based 1st Global, a research and consulting partner
to CPA and
wealth management firms, appointed Matt McBride as its new chief
information
officer.
McBride
joined 1st Global from ADT Security Services, a division of Tyco
International,
where he served as solution delivery director since 2011,
responsible for all
technology delivery such as architecture, application, mobility
and data
solutions for a $12 billion enterprise. In his new role as CIO,
McBride oversees
the company's efforts to provide the tools, software and
technology necessary
to run a wealth management business.
Illinois-based
Mesirow Financial hired Stephanie Feldman as a vice president and
wealth
specialist, focused on the areas of estate and trust. Based in
Chicago and
Highland Park, IL, Feldman operates as part of The Gordon Wealth
Management Group,
which works with individuals, families, business owners,
non-profits and
foundations. Feldman has 14 years of experience in the investment
industry, the
last eight of which she spent as a senior trust officer at US
Trust Bank.
A Portland,
OR-based team - comprised of senior advisor Joseph Opsahl and
advisor Chris
Hatfield - left Merrill Lynch’s private client group to join TRUE
Private
Wealth Advisors. Opsahl has nearly 30 years of experience in the
financial
industry and spent the last four years with Merrill Lynch in
Portland. Opsahl
provides wealth management, investment consulting and financial
planning
services to high net worth families, corporations, retirement
plans and foundations.
Hatfield also joined TRUE from Merrill Lynch’s Portland office.
US Bank
Wealth Management promoted Mike Ott to president of the Private
Client Reserve,
the firm's high net worth business. Ott, who previously served as
central
region president and Twin Cities market leader for the PCR, is a
member of US
Bank’s Wealth Management Executive Committee. Ott joined
Minneapolis-based US
Bank in 2009 as head of investments for the PCR in Twin Cities.
Florida-based
Chilton Trust Company, a trust company and wealth management
firm, bolstered
its wealth management business with three senior hires.
The hires
include Harry Grand, senior vice president and head of client
relations; David
Phelps Hamar, senior vice president and head of wealth advisory
services; and
Benjamin Brewster, senior client relations advisor. Grand
oversees all
relationship management activities for clients and is a member of
the External
Managers Investment Committee. Before joining Chilton Trust, he
was a senior
vice president and relationship manager at Lazard Wealth
Management,
responsible for investment policy formation, asset allocation and
client
relationship management.
Hamar is in
charge of wealth advisory services and for coordinating family
office services.
He is latterly of Silvercrest Asset Management, where he held a
range of roles
including as a managing director; member of the management
committee; portfolio
manager; co-chairman of family office services; and director of
global tax
services. Lastly, Brewster has been named senior client relations
advisor. He
has over 25 years of industry experience, having previously
advised family
office clients as managing director at Silvercrest Asset
Management.
BMO Global
Asset Management bolstered its US investment team with the
addition of Pete
Papageorgakis and Casey Hatch in Chicago, IL. Papageorgakis
joined as managing
director, head of product development and management, while Hatch
now serves as
associate, product development and management.
Papageorgakis oversees the
creation and implementation of investment strategies. Prior to
joining BMO
Global Asset Management, he worked in product development and
strategy roles
for a number of financial services providers. Hatch conducts
industry and
competitor research for the creation and implementation of
investment
strategies. Most recently, Hatch worked in product development,
research and
analysis.
OppenheinerFunds
made three senior hires in New York as the firm strengthens its
marketing
force. Joining from BlackRock as senior vice president of
strategy and market
planning is Peter Mintzberg, who spent seven years at his former
firm in a
range of roles including head of marketing and head of strategy,
Latin America
and Iberia. Stephen Tisdalle joined as senior vice president of
brand marketing
from Ogilvy & Mather, where he was a managing director in charge
of
marketing services across the agency. Lastly, Rupa Athreya
joined
OppenheimerFunds as head of product development, having latterly
served as head
of strategy for Chase Wealth Management.
US Bank Wealth
Management appointed Leela Rao as director of business strategy
for the Private
Client Reserve, which serves high net worth individuals, families
and
foundations. Rao designs and implements business strategies that
will
contribute to client acquisition, client retention and business
growth, US Bank
said. Rao was formerly senior vice president and practice leader
for
Think2Perform, an organizational management and business
consulting firm.
James
Quigley, chief executive emeritus and a retired partner of
Deloitte, was
elected to Wells Fargo’s board of directors. Quigley serves on
the board’s
audit and examination committee. He served as CEO of Deloitte
Touche Tohmatsu
(the Deloitte global network) from 2007 until 2011. After serving
as CEO of
DTTL and Deloitte, Quigley retired as a senior partner with the
latter in June
2012..
Maryland-headquartered
Sandy Spring Break appointed three new team members to the Sandy
Spring Trust
wealth management team, which serves high net worth and ultra
high net worth
clients. The team includes Andrew Seested, private wealth
advisor; Jennifer
Cumming, senior investment advisor; and Boris Wessely, senior
investment
advisor. Prior to joining Sandy Spring Trust, Seested was a vice
president and
senior relationship manager, while Cumming has experience as a
vice president and
senior investment advisor. Wessely was formerly a vice president
and senior
investment advisors.
UBS
recruited The Reinhold Group in Buffalo,
NY, from Morgan Stanley.
The group
is comprised of John Reinhold, who has $120 million in assets
under management,
and Derek Reinhold, with $24 million. Derek Reinhold began his
career as a
sales liaison with Morgan Stanley’s consulting group and its
predecessor firm
in Wilmington, DE, in September 2005. A year later he was
promoted to regional
consulting group technical analyst in Seattle, WA, and then onto
Los Angeles,
CA, in the divisional office in August 2007.
HNW, Inc, a
US marketing and technology firm specializing in the financial
services sector,
appointed James McLaine as group creative director. McLaine is
responsible for
HNW’s creative services group, and as such is in charge of
content strategy;
editorial and marketing communications services; user experience;
and graphic
design. McLaine has over 18 years of experience working with
firms - such as
American Express, BNY Mellon, Citigroup and Credit Suisse – in
the area of
creative services.
Barclays
appointed Elyssa Kupferberg as a director and investment
representative within
the firm’s wealth and investment management division, based in
Palm Beach, FL.
Kupferberg - latterly of BNY Mellon - is charged with providing
Barclays’
global wealth management programs and alternative investment
strategies to high
net worth individuals, foundations, corporations and non-profit
organizations. She
spent 14 years at her predecessor firm, BNY Mellon, most recently
as the senior
sales director and senior vice president.
Long-time
financial advisor Mark Orgel launched Orgel Wealth Management,
an
employee-owned, independent investment advisory firm based in
Altoona, WI.
The new
firm serves individual investors, trusts, foundations, retirement
plans and
corporations. Orgel previously worked at RBC Capital Markets.
Atlantic
Trust, the private wealth management division of Invesco,
appointed Elizabeth
Connelly as a vice president and wealth strategist in Boston, MA.
Connelly
joined Atlantic Trust from the trusts and estates department of
Rackemann,
Sawyer & Brewster, where she focused on estate planning,
estate
administration, trust administration and tax work matters.
Morgan
Stanley Wealth Management recruited two financial advisory teams
in Oklahoma
and Kentucky from Edward Jones and UBS respectively. Ted Bowling
and Aaron
Bowling joined Morgan Stanley’s Oklahoma City, OK, office from
Edward Jones.
Meanwhile, Robert Schneider joined the firm’s Louisville, KY,
office from UBS.
Schneider is joined by his partner, Paige Abner-Peden, along with
group
administrator, Stephanie Valsted, and senior registered associate
Anne Cheaney.
RBC Wealth
Management hired Rob Spawn as senior managing director of the
firm’s San
Francisco, CA, complex. Spawn joined RBC Wealth Management from
UBS, where he
expanded the firm’s presence in Las Vegas; led
the Nevada-Utah and Houston
complexes, and, most recently, served as associate complex
director for
Arizona/New Mexico. In his new role at RBC, Spawn oversees around
70 financial
advisors and 125 employees across San Francisco;
San Jose; Fresno;
Monterey; El Dorado Hills; Walnut
Creek; Santa Rosa; and Oakland.
New
York-headquartered Goldman Sachs said that Michael Evans, vice
chairman and
global head of growth markets, decided to retire at the end of
the year after
more than 20 years at the firm. He became a senior director upon
his
retirement, the firm said in a statement. In 2003, Evans became
global co-head
of the securities division, where he was responsible for
investors and
companies globally.
Wells Fargo
Advisors Financial Network, the independent brokerage arm of
Wells Fargo, named
Rick Calhoun as managing director of the firm’s innovation and
growth team.
Calhoun represents the independent brokerage and its practices as
regards
corporate strategies. He focuses on driving growth and developing
practice
management strategies across the business. Calhoun joined Wells
Fargo Advisors
Financial Network in 2008 and was most recently the northeast
regional director
for the branch development group.
Wilmington
Trust bolstered its wealth advisory team in Florida with the
addition of
Michael Engelbrecht and Michele Vogel as senior private client
advisors, and
Katrina Lee as senior investment advisor. Engelbrecht, a managing
director and
senior private client advisor, is responsible for providing
wealth management
advice to high net worth individuals, families, business owners
and
entrepreneurs. He has previously served as a managing director
with Deutsche
Bank Securities. Meanwhile, Vogel provides wealth management
advice to HNW
individuals, families, business owners and entrepreneurs, based
in Palm Beach. Vogel
served as vice president at PNC Wealth Management in Palm Beach
County, and was
a senior vice president and trust officer at Northern Trust prior
to that. Lee
develops investment portfolios for HNW clients and foundations.
She was
formerly executive director of Barnstar Funds.
Rothstein
Kass promoted five high-profile team members including new
principals Miri
Forster, Sabrina Ho, Peter Kehrli and Jay Shepulski, and senior
director Kevin
Sasz. Forster has nearly 20 years of IRS practice, procedure and
controversy
experience. Shepulski provides audit, accounting and business
advisory services
to domestic and international clients, in both publicly-traded
and
privately-held sectors..
Ho provides
tax compliance and consulting services to high net worth
individuals and family
offices, while Kehrli specializes in audit and tax services for
domestic and
offshore alternative investment vehicles. Sasz, a senior
director, oversees tax
issues and consults on trading strategies.
Citi Private
Bank made two senior ultra high net worth hires in Palm Beach,
FL.
Phillip
Edwards was named a director and UHNW banker while Adam Gillam
joined as a vice
president and UHNW private banker. Edwards most recently worked
at JP Morgan
Private Bank and Genspring Family Offices in Palm Beach Gardens,
FL.
Gillam
joined Citi from Wells Fargo in Palm Beach, where he was latterly
a vice
president and senior private banker responsible for advising high
net worth
families on all aspects of wealth management.
Rinehart
Wealth Management recruited three Charlotte, NC-based financial
executives for
its newly-formed advisory board. G Kennedy Thompson, Charles
Conner and Cindy
Wolfe work alongside Rinehart president and chief investment
officer, Daniele
Donahoe, and founder and CEO, Mary Rinehart.
The new
board helps direct the firm on future growth and development
goals, including
strategic planning and process improvement. Thompson is a
principal at New
York-based Aquiline Capital Partners, having joined the private
equity firm in
2009. Conner, meanwhile, is one of three co-founders of
investment banking firm
Bowles Hollowell Conner, which was bought by First Union.
Wolfe has
26 years of experience in the banking industry and serves as
metro Charlotte
market president for Bank of the Ozarks.
The
PrivateBank, part of Private Bancorp, appointed Rose
Panico-Marino as managing
director of private wealth in Chicago,
IL, with a focus on retirement
plan solutions. Panico-Marino joined The PrivateBank from
Verisight, where she
was managing director and part of a leadership team focused on
devising
retirement plans for clients.
Raymond
James recruited the firm Provenance Wealth Advisors - consisting
of 10 advisors
and 14 registered associates - in Fort Lauderdale, FL. The team
was led by
owners Eric Zeitlin, Todd Moll, Lee Hediger and Scott Montgomery.
They joined
Raymond James from Walnut Street Securities, where they managed
more than $1
billion in client assets
BNY Mellon,
made a string of hires in recent months, and appointed Heneg
Parthenay as chief
operating officer of BNY Mellon Asset Management International,
based in
London. In his new role, Parthenay is responsible for assisting
in the
management of BNY Mellon AM International, with a focus on
developing and
implementing strategy for the insurance channel. Parthenay spent
the last eight
years at Aviva, latterly on the executive team of their global
asset management
arm, Aviva Investors.
SCBT Wealth
Management, part of First Financial Holdings, appointed David
Kirkpatrick as
senior vice president and portfolio manager in its wealth
management group. Kirkpatrick,
with more than ten years’ experience in the investment management
industry,
previously spent six years with a southeastern regional bank,
where he served
as a vice president and portfolio manager in the South Carolina
market. In his
new role, Kirkpatrick focuses primarily on portfolio management
for the South Carolina markets
of SCBT and First Federal.
New York-based Lebenthal Holdings, a woman-owned boutique
investment bank, launched Lebenthal Wealth Advisors, a private
wealth advisory
division, led by Jeffrey Lane and Frank Campanale. Lane serves as
chairman of the board of
Lebenthal Holdings, while Campanale serves as chairman and chief
executive of
LWA. In addition, Andrew Grillo, a former regional director of
Smith Barney,
is president of LWA; James B Lebenthal serves as chief investment
officer and
market strategist; and James A Lebenthal has become chairman
emeritus. Lane was
previously CEO of Bear Stearns Asset Management; chairman and CEO
of Neuberger
Berman; and a vice chairman of Lehman Brothers. Campanale is
latterly of First
Allied Wealth Management.