People Moves

Summary Of Executive Moves In Global Wealth Management - October 2013

11 November 2013

Summary Of Executive Moves In Global Wealth Management - October 2013

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.

Cornerstone Real Estate Advisers brought in Pamela Boneham from Deutsche Asset & Wealth Management as a portfolio manager for one of its largest separate accounts.

Boneham joined Cornerstone on October 21. She helps with Cornerstone’s business development activities. Boneham has spent the last 16 years as a portfolio manager and managing director for Deutsche Asset & Wealth Management - formerly known as RREEF - where she was lead portfolio manager for several public and corporate pension fund separate accounts.

Pacific Trust Bank and The Private Bank of California, subsidiaries of Banc of California, merged into a single entity named Banc of California. Pacific Trust Bank completed its previously-announced sale of eight legacy branches in San Diego, Riverside and Los Angeles counties to AmericanWest Bank, a Washington state chartered bank.

Aviva Investors Americas hired Jeff Jones as a high yield trader in Chicago, IL.

Jones joined Aviva Investors from Tejas Securities Group, with over 10 years of experience in the investment industry. He previously traded high yield bonds at FBR Capital Markets, Barclays Capital, and worked as an analyst at Goldman Sachs.

Opus Capital Management, the Cincinnati, OH, employee-owned investment management firm, added Nathan Bishop as a portfolio manager within its wealth management team. Bishop was latterly chief investment officer and senior portfolio manager at Haberer Registered Investment Advisor.

Investcorp appointed Lionel Erdely as head of hedge funds and chief investment officer in New York. Erdely joined from Lyxor Asset Management, a subsidiary of Societe Generale Group, where he served as chief investment officer since 2004 and chief executive of Lyxor since 2009. In his new role at Investcorp, Erdely oversees the New York hedge fund group’s strategic direction and investment decisions, as well as managing day-to-day operations. He also serves as a member of the firm’s management committee.

Babson Capital Management, the global asset management firm, brought in Ricardo Adrogue and Brigitte Posch to lead the firm’s new emerging market debt investment team, based in Boston, MA, and London, respectively. Adrogue joined from Cabezon Investment Group, where he was an emerging market fixed income portfolio manager. Posch joined Babson Capital from PIMCO, where she was executive vice president and head of emerging market corporates. In their new roles, Adrogue heads the team and oversees portfolio management activities for sovereign and local currency strategies, while Posch heads up portfolio management activities for all emerging market corporate debt strategies.

Chicago, IL-based HighTower, the advisor-owned firm, named its chief operating officer, Michael LaMena, as president. LaMena succeeds Drew Kornreich, who HighTower said has moved into an advisor role focusing on corporate finance and strategic M&A activities, while retaining his equity stake in the company.

LaMena has been COO since 2011 and will retain this position alongside his new role as president.

This move is one of several executive team changes the firm has made. For example, Michael Parker is now national director of HighTower’s enterprise development and relationship management unit, overseeing business and advisor development initiatives; Mike Papedis is national director of business development; and Matthew Camden is now chief of staff, serving as a liaison between executive management and departments across the firm.

First Financial Trust & Asset Management Company hired Bradley Brown as senior vice president, based in Orange, TX, until the firm opens a new office in Beaumont next spring. Brown has been a principal of accounting firm Edgar, Kiker & Cross since 1991.

RBC Wealth Management added The Resin Hammitt Group to its Manhattan Beach, CA, office. Philip Hammitt and Jonathan Resin joined RBC from Merrill Lynch and have a combined 40 years of experience in the financial services industry. In New York, RBC Wealth Management appointed Ira Mark and Michael Berger as senior vice presidents and financial advisors in Midtown. They have 22 and 14 years of industry experience respectively. Nadira Ramnarain, senior registered client associate; Michael Carlin, registered client associate; and Jessica Laurino, registered client associate, also joined.

PENSCO Trust Company, an alternative asset custodian, appointed Eileen Loustau as head of marketing. Loustau, with more than 20 years’ marketing experience, most recently served at BlackRock as global head of social media, where she was responsible for building its social media program. In her new role, Loustau is responsible for PENSCO's marketing and communications strategy. 

Richard Bernstein Advisors, an investment firm founded in 2010 by former Merrill Lynch chief investment strategist Rich Bernstein, hired Terry Ober as a regional investment specialist covering the Northeastern part of the US. John McCombe, president of RBA, said that Ober works closely with the firm’s “key partners” - Eaton Vance and First Trust - on portfolio positioning across various asset allocation and equity strategies. Ober was previously regional vice president for ING US Investment Management.  

Independent financial advisors Romaine Macomb and Theresa Donatelli joined LPL Financial’s Northstar Wealth Partners office. In their move to Northstar, they were joined by retirement plan coordinator, Ellie Kasimir.

Lincoln Financial Network, the retail wealth management affiliate of Lincoln Financial Group, appointed Gene Mulligan - latterly of Merrill Lynch - as senior vice president for investment products and platform. Mulligan leads LFN’s wealth management platform, including its managed account strategy, products and operations. Mulligan is formerly of Merrill Lynch Global Investment Solutions, where he was a managing director as well as head of business strategy and development for the Merrill Lynch global investment and advisory platforms. The move comes after Bill Fortner was appointed in June as managing director of Lincoln Financial Advisors to lead the Pacific regional planning group.

Palm Beach, FL-based Chilton Trust Company, a trust company and wealth management firm, hired three senior wealth management professionals.

Harry Grand is the firm’s new senior vice president and head of client relations; David Hamar joined as senior vice president and head of wealth advisory services; and Benjamin Brewster is a senior client relations advisor. Grand oversees all relationship management activities for clients and is a member of the external managers investment committee. Before joining the firm, Grand served as a senior vice president and relationship manager at Lazard Wealth Management, where he was responsible for investment policy formation, asset allocation and client relationship management.

Hamar oversees wealth advisory services and coordinates family office services for various clients. He was previously a managing director, portfolio manager, co-chairman of family office services and director of global tax services at Silvercrest Asset Management. Brewster serves as a senior client relations advisor to US clients and works on the firm's strategic initiatives. Brewster has over 25 years of experience in the industry, having previously served as a managing director at Silvercrest Asset Management. Along with these hires, Chilton Trust also announced that senior vice president John Rau has assumed the position of head of fiduciary services and oversees all fiduciary and trust-related services for the firm. 

Executive recruiter Laura Pollock launched Third Street Partners, a New York City-based executive search firm specializing in the investment management sector.

Pollock was latterly a partner at David Barrett Partners. David Schumer joined Third Street Partners as a principal from David Barrett Partners, where he was a consultant.

Wellesley, MA-based Robert Norberg joined Weston Financial, a division of Washington Trust Wealth Management, as vice president and business development officer. Norberg joined Washington Trust after 18 years at Fidelity Investments, where he most recently served as vice president of client service operations and process improvement for Fidelity’s stock plan services business.

In his new role, Norberg oversees Weston’s corporate relationships and helps companies develop financial planning programs for executives.  

Lia Yaffar-Pena, president at ES Financial Services, the brokerage unit of Miami, FL-based Espirito Santo Bank, left the firm to “pursue other interests”. Yaffar-Pena was also senior vice president and head of the bank’s wealth management division. Lionel Baugh was brought in as president of the brokerage when Yaffar-Pena announced her departure. Baugh joined from Global Strategic Investments, where he worked from 2009 until 2012 as president and chief executive.

HD Vest, the independent broker-dealer focused on tax and financial planning, named Ruth Papazian as chief marketing officer and head of recruiting, and appointed Adi Garg as chief information officer. Specifically, Papazian oversees HD Vest’s advisor recruiting and marketing communication activities. She has over 30 years of experience serving in these types of role, having latterly been executive vice president and chief marketing officer for LPL Financial. Meanwhile, Garg was most recently vice president for Cash America, where he led strategy and infrastructure operations.

United Capital Financial Advisers acquired a Scottsdale, AZ-based wealth management firm called Brotherton Investment Consultants, in a move adding some $150 million in assets under advisement. Brotherton Investment Consultants was founded in 1998 by husband-and-wife Donna and John Brotherton, who have 26 and 32 years of industry experience respectively. They join United Capital as managing directors.

Stephanie Zaffos joined Convergent Wealth Advisors as the firm’s director of trust and estate planning. Zaffos has 15 years of industry experience - at firms including Venable, Proskauer Rose and Katten Muchin Rosenman - and specializes in estate planning for ultra high net worth clients.

Durraj Tase, an experienced capital markets executive, launched a new registered investment advisory firm called DT Investments in New Jersey. Most recently, Tase worked at Deutsche Bank Private Bank as head of the Americas market coverage group. He was also responsible for marketing, sales, regulatory, client relationships and client suitability matters for the private bank brokerage business.

JP Morgan Chase & Co appointed Dana Deasy as chief information officer, responsible for the New York-listed firm’s technology systems and infrastructure across all of its business globally. Mike Ashworth, was named deputy CIO for the company and CIO for the consumer and community banking business. Deasy will join in December from BP, the $400 billion global energy company, where he was chief information officer and group vice president responsible for global IT, procurement and global real estate.

HSBC Global Asset Management, part of the UK/Hong Kong-listed banking group HSBC, appointed Mary Bowers as a senior global high yield fund manager in its global fixed income team, based in New York. Bowers manages the HSBC GIF Global High Yield Bond Fund and the recently-launched HSBC GIF Global Short Duration High Yield Bond Fund. Bowers previously worked at Aberdeen Asset Management/Artio Global Investors (formerly Julius Baer Asset Management) in New York, where she had ten years of experience in global high yield portfolio management.

New York-headquartered Goldman Sachs named Robert Zoellick, former president of the World Bank Group, as chairman of the firm’s 16-strong team of international advisors. Zoellick advises Goldman Sachs on global strategic issues and oversees the work of its international advisors. Zoellick completed his five-year term as president of the World Bank Group in June 2012. Prior to his appointment to the World Bank in 2007, he served for a year as vice chairman, international, at Goldman Sachs.

Two financial advisory teams with a total of $439 million in combined assets under management joined Wells Fargo Advisors’ private client group. John Phillips, Darrell Jones and Scott Dickerson joined the Salt Lake City, UT, branch from UBS. Meanwhile, the Climer Wealth Management Group - comprised of father-son team Michael and Wes Climer - joined in Charlotte, NC, from Merrill Lynch, Pierce, Fenner & Smith. 

US Bank Wealth Management promoted Bryan Benedict to private banking managing director for The Private Client Reserve of US Bank in Minneapolis, while it also hired Kane Phillips as a wealth management consultant for the PCR in Seattle. Benedict leads a team of private bankers serving high net worth individuals and their families. He was previously a commercial banker with Excel Bank and a bank examiner with The Federal Reserve Bank of Minneapolis. In his new role, he works to create connections among prospective and existing clients within the Puget Sound region, US Bank said.

Gupta Wealth Management, a seven-strong former UBS financial advisory team, is now a $540 million assets under management registered investment advisor with the Securities and Exchange Commission. The team, led by Ajay Gupta, provides clients with financial and investment strategies including wealth transfer and preservation, business services, retirement strategies and solutions, estate planning strategies, private money management and concentrated stock strategies. Gupta has been a financial advisor for 20 years, with early roots at Merrill Lynch and then UBS.

RBC Wealth Management appointed Ira Mark and Michael Berger as senior vice presidents and financial advisors in Midtown, NY. Mark and Berger joined RBC Wealth Management from Morgan Stanley, where they managed around $1 billion in client assets. Also joining RBC Wealth Management was Nadira Ramnarain, senior registered client associate; Michael Carlin, registered client associate; and Jessica Laurino, registered client associate. RBC also added The DiChiaro-Bourgault Group to its Providence, RI, office. The DiChiaro-Bourgault Group joined from JP Morgan Securities and has some $192 million in assets under management.

New York-listed Genworth Financial Wealth Management established the company's governing board of directors, as it appointed industry veterans Charles Goldman, Hal Strong and Steven Spiegel. Goldman joined as chairman of the board, having previously served as president of custody and clearing at Fidelity Investments. Prior to this, Strong was vice chairman of Russell Investments, having previously served as chief operating officer, chief financial officer, head of alternative investments and head of investment banking. Spiegel is a partner at Aquiline Capital Partners and has significant experience leading asset management firms. He was previously vice chairman of Putnam Investments.

BNY Mellon appointed Helen Nugent to a newly-created role as a managing director of sales to lead business development efforts in BNY Mellon Wealth Management’s Southeast region, as the firm continues to build out this part of its business.

Nugent oversees a team of five sales directors across a six-state region.

Nugent joined BNY Mellon from Northern Trust, where she held a number of leadership roles over a period of 18 years. Most recently, as senior vice president she drove a pilot program serving not-for-profits, endowments and foundations.

Sarah Bewley left her role as a fund analyst at the UK investment manager Quilter Cheviot to take up a similar position at TD Bank in Toronto, Canada.

At Quilter Cheviot, Bewley covered US, Asia and emerging market funds.

Having started in her new role as a senior fund analyst within the portfolio advice and investment research team at TD Bank in September, Bewley will now focus on developing model portfolios for clients, a TD spokesperson said. Relocating to London in 2008, Bewley served as a fund analyst at Morningstar OBSR, where she worked for three years.

Charles Cauthen, executive vice president and chief financial officer at Tampa, FL-based Walter Investment Management, is leaving the firm in early 2014.

The firm said Cauthen joined former parent company, Walter Energy, in November 2000.

Janney Montgomery Scott, the Philadelphia, PA-based wealth management and investment banking firm, took on an eight-strong advisor team in West Hartford, CT.

The team is comprised of Robert Black, Ned Manuel and Ed Blumenthal – all senior vice presidents of wealth management; Bob Borkowski, vice president of wealth management; Malcolm Berman, account executive; Samantha Prokop, private client assistant; Jennifer Roth, a registered private client assistant; and Amy Wells, a private client assistant. The team is latterly of Merrill Lynch. In August, Janney appointed Peter Price as senior vice president/complex manager of the firm’s Maine and New Hampshire complex, while earlier in the month it added former Morgan Stanley senior manager Vincent Crognale to its Greenville, DL, branch office as first vice president/wealth management.

Northern Trust, the New York-listed wealth management firm, named Drake Jackman as managing director of its international wealth advisory team in Miami, FL.

Jackman is charged with growing Northern Trust’s international business in Miami and beyond, while providing ultra high net worth clients across Latin America with wealth management, trust and banking services. Jackman previously worked with Northern Trust clients throughout the Latin American market and has spent time living in Mexico, Central America and Colombia during his career.

AIG Advisor Group, an independent broker-dealer network, promoted Erica McGinnis to serve as president and chief executive. She most recently served as senior vice president and chief compliance officer. Along with the senior leadership team at Advisor Group, she pursues strategies to enhance the service platform to better serve current financial advisors and to attract new registered representatives to the organization. In her previous role, McGinnis oversaw all supervisory activities for Advisor Group.

Morgan Stanley’s Graystone Consulting appointed Garry Bridgeman as an executive director, financial advisor and institutional consulting director within its wealth management business in Atlanta, GA. Bridgeman provides consulting services to philanthropic organizations, governments, corporations and individuals. He spent over 34 years as a global institutional consultant and private wealth advisor at Merrill Lynch, but most recently worked within the private banking and investment group.

Merrill Lynch Wealth Management hired an advisor team from UBS Private Wealth Management with over $1 billion in assets and over $11 million in production.

The team - comprised of Stephen Ruvituso, Lee Konopka, Robert Matluck and Todd Stankiewicz - joined Merrill’s White Plains, NY, complex. Meanwhile, Robert Brust joined Merrill’s Ponte Verda, FL, office from Wells Fargo.

Chicago, IL-based investment management firm RiverNorth Capital Management bolstered its team with three new appointments. David Gifford joined RiverNorth as an investment analyst. Chris Lakumb is a portfolio specialist and responsible for supporting the investment management team and serving as a liaison between RiverNorth’s portfolio managers and investor base.

Paul Raskin joined as a software developer, responsible for data operations and the development of core infrastructure and proprietary trading systems. Gifford previously worked as a senior trader on the equity desk at Wolverine Trading for 11 years. Lakumb has rejoined RiverNorth after relocating to California to work for EverBank as a wealth management specialist. Raskin has spent more than five years writing financial software, and most recently wrote futures and options trading applications as a software developer for RJ O’Brien & Associates.

Raymond James recruited a team of advisors operating as TSD Capital Group - an independent firm in Athens, GA - to Raymond James Financial Services, the firm’s independent broker-dealer. The team includes Bill Schroth, senior investment advisor and TSD managing partner; Joseph Taylor, senior investment advisor and TSD managing director; Kip Dominy, senior investment advisor and TSD partner; financial advisors Bruce Kelly and Ken Hyatt; senior registered administrative assistant Leigh Anne Kane; and senior administrative assistant Anna Richardson.

The team came to Raymond James from Wells Fargo Financial Advisors Network.

Howard Altman, co-chief executive and principal-in-charge of Rothstein Kass’ financial services group, was named as treasurer of the Managed Funds Association.

Altman will also serve for one year as a member of the MFA’s board of directors.

Manulife Asset Management hired Richard Bonzagni as a managing director within the firm’s global consultant relations team. He spent the last 13 years with Cadence Capital Management, a Boston-based boutique investment manager - most recently as a principal with consultant relations, sales and client service responsibilities.

Kansas-based Mariner Wealth Advisors, the independent wealth advisory firm, brought in Robert Swift as senior vice president of trust and estate planning.

Swift has 25 years of industry experience and joins Mariner from Colorado State Bank and Trust, where he most recently served as senior vice president and trust manager.  

BNY Mellon Wealth Management hired Peter Balesano as senior director for business development in Westborough, MA. Balesano has 25 years of investment management. Prior to joining BNY Mellon, he was manager of the wealth management group for People’s United Bank.

Deutsche Asset & Wealth Management made four hires to its real estate investment business in the Americas. Matthew Jaffe joined as a director and alternative investment specialist in the global client group. Jaffe previously served as director in the global markets team at Societe Generale, responsible for marketing across the Eastern US. Peter Mette joined as a director in the real estate transactions team to focus on acquisitions in Southern California.

Mette has over 20 years of industry experience, having most recently been a senior vice president, and director of acquisitions and dispositions, at KBS Realty Advisors. Meanwhile, joining as vice president in the real estate asset management team, Cheryl Charnas will be based in Chicago, IL. Charnas has around 20 years of experience in commercial real estate and most recently worked as a project director of transitional assets, and vice president of asset management at Inland American Business Manager & Advisor. Lastly, Emily Zagorski was named vice president to lead product development across the real estate investment platform. Zagorski is latterly of JP Morgan Global Wealth Management.

Wells Fargo Advisors hired a New York-based team of financial advisors with more than $1 billion in client assets and a combined production of $5.8 million.

The Alpert Group joined Wells Fargo in Woodbury, NY after leaving Morgan Stanley Wealth Management. The team includes Robert Alpert, Charles Ladenheim, Robert Fusaro and Michael Montuori. Five client associates - Lisa Alpert, Ann-Marie Iovino, Mary Anne Leap, Kathleen LoBello and Caroline Roman - complete the Alpert Group team.


Signia Wealth appointed Michael Rosenthal as head of hedge fund investment.

Rosenthal joined from Amundi Asset Management, where he was global co-head of hedge fund investment and head of the firm’s London office.

MetLife promoted Tom Melton to new business development manager in the South East. Melton joined in December 2011 as an internal business consultant and was recently promoted to senior internal business consultant. In addition, Tom Peddie is joining the South West sales team, having joined MetLife as an internal business consultant in the financial institutions team in 2012.

London-based asset manager Threadneedle Investments appointed Richard Vincent to the newly-created role of head of wholesale solutions, based in London. Vincent was previously proposition director for Skandia Investment Group/Old Mutual Wealth, responsible for investment solution development. Reporting to Nick Ring, head of distribution, in his new role, Vincent is responsible for developing Threadneedle’s multi-asset investment solutions for the UK and global intermediary markets.

Kleinwort Benson appointed Claude Cochin de Billy as co-head and managing director of its private investment office. De Billy previously worked at UBS Wealth Management, where he was a senior banker in the Swiss firm’s global family office group.

Royal London Asset Management, part of the Royal London Group, appointed Michael Lawrence as a fund manager in its property team. Lawrence previously worked in Strutt & Parker’s retail investment department, having begun his career at CBRE.

Berry Asset Management, the UK wealth manager, appointed David Lee as business development manager. He joined from Fidelity International, where he was an IFA regional sales manager.

London-headquartered asset manager Insight Investment appointed David Beca as head of farmland management, based in London. Beca reports to Martin Davies, head of farmland investments at Insight Investment.

Stonehage Law, the London Law firm which works with the multi family office Stonehage, appointed Michael Evans as a director. He reports to Len Durham, executive director of the Stonehage Group and head of Stonehage Law.

Calastone, the global fund transaction network, appointed Edward Glyn as managing director and head of global client relationship management.

Glyn joined from SWIFT where he spent nine years in a variety of roles. Most recently, Glyn headed up SWIFT’s funds business across EMEA, and the regional team managing SWIFT’s investment management, custody and asset servicing offerings. He reports to Calastone’s chairman and chief executive Julien Hammerson and is responsible for the development and execution of Calastone’s global client strategy.

Jupiter appointed Robert Siddles to manage its US small cap portfolios. He joined from London-listed F&C, where he was fund manager for the F&C US Smaller Companies OEIC and SICAV, after 12 years with the firm. Nish Patel replaced Siddles. He joined F&C in November 2007 and has nine years’ experience in financial services.

ECM Asset Management, the investment house which is owned by Wells Fargo, appointed Cristiano Mela as an investment analyst covering industrial sector firms, having previously worked at Deutsche Bank CIB. Mela reports to Duncan Warwick-Champion, head of corporate research.

Old Mutual Wealth Management, the holding company for Skandia and Old Mutual Global Investors, appointed Charlie Eppinger, a fourth independent non-executive director to its board. Eppinger founded IFDS (International Financial Data Services) in 1995 and served there as chief executive officer for 13 years.

Heartwood Investment Management, a division of UK wealth manager Heartwood, appointed Guy Davies as head of charities. He was most recently head of charities, trusts and private clients at investment management firm, Evercore Pan-Asset. Prior to joining Evercore, Davies served as head of charities and philanthropy at Barclays Wealth, before which he held senior business development positions at Lazard Asset Management and Baring Asset Management.

Wealth management firm Praemium appointed discretionary fund managers Ari Towli and Nick Stanhope to its smart investment management team. Towli previously served at Singer & Friedlander, Quilter & Co, Rothschilds and most recently Gartmore and North Investment Partners. At North, Towli was responsible for fund selection and the management of the firm’s multi-asset portfolios and funds. 

BNY Mellon appointed Heneg Parthenay as chief operating officer of BNY Mellon Asset Management International, based in London. Parthenay reports to PeterPaul Pardi, chief executive of BNY Mellon Asset Management International and global head of distribution for BNY Mellon Investment Management.

UK-headquartered wealth management house, London & Capital, appointed Cindy Lim, formerly of HSBC, as a client relationship manager in its immigration division.

In her previous role at HSBC, Lim worked at its investor visa business for seven years.

Boutique consulting firm KB Associates appointed Peter Northcott as an executive director, based in the firm’s London office. Northcott was previously chief operating officer at Mako Global Investors, Apollo Global Management and Mulvaney Capital Management. In his new role, Northcott is responsible for offering hedge fund start-up consultancy, due diligence advisory, change management consultancy and infrastructure review services in the London alternative investment market.

Invesco Perpetual announced Neil Woodford will leave next April. Fund responsibilities will transition to Mark Barnett and the Invesco Perpetual UK equities team.

Liontrust Asset Management, the London-based independent fund management group, appointed John Husselbee as head of the new multi-asset team and fund manager Paul Kim as a senior fund manager. Husselbee has 23 years of experience in managing multi-manager portfolios in the UK retail market, including serving at Henderson and Rothschild Asset Management. Paul Kim has managed discretionary portfolios and multi-manager funds for more than 30 years.

JP Morgan Private Bank appointed Pedro Gil as its EMEA equity strategist, based in London. He reports to Leandro Veltri, head of equities for EMEA and Asia at JP Morgan Private Bank. Prior to joining JP Morgan, Gil served as lead publishing analyst covering the European food manufacturing and home personal care industries at Santander Global Banking & Markets in London.

The UK-South African asset manager Investec appointed Andrew Mitchell, the former Conservative Party chief whip for the House of Commons, as a senior strategic advisor. Mitchell, who has previously worked at Lazard, as a senior strategic advisor.

Withers, the international law firm, appointed partner Julie Teal to its London real estate group. Teal is a construction law specialist and joined the firm from UK construction practice Fenwick Elliott. In addition, Withers’ real estate group appointed associates David Holland, who joined the top-tier rural real estate team from Wilsons Solicitors, and Eloise Morgan, who joined from Falcon Chambers as a property litigator.

London-based investment manager Sarasin & Partners, part of Switzerland’s Bank Sarasin, appointed Phil Collins as a fund manager to its team responsible for managing multi-asset portfolios. Collins, with more than 25 years’ investment industry experience as a fund manager and analyst, spent 18 years at Newton Investment Management.

UK-based equity manager Martin Currie appointed Michael Millar as investment manager to its Asian Equities team. Based in Edinburgh, Millar reports to Andrew Graham, investment director, head of Asia. Millar previously served as managing director, regional head of research at Naeem Brokerage, Cairo

Midlands-based wealth management firm Sorbus Partners appointed Steve Hollis as chairman to its advisory board. Hollis, a former chairman of KPMG’s Midlands practice, continues his role as deputy chair of the Greater Birmingham and Solihull Local Enterprise Partnership. In addition to KPMG, Hollis has served on the Industrial Development Advisory Board, Sport England and has also been served on a number of private and public company boards.

Jake Moeller left Lloyds Banking Group's investment subsidiary, Scottish Widows, to take a strategic research role at Reuters. Moeller led the fund research behind the firm’s £160 billion (around $255 billion) fund platform and helped devise Scottish Widows’ P6 investment process, which screens funds by placing a 20 per cent weighting on their portfolio, process, philosophy and people and 10 per cent apiece on performance and profile.

Skandia, part of Old Mutual wealth, appointed Colin Betts and Nathalie Claeys to join its on the road wealth planning team. Betts joined from the Royal London Group, where he was head of sales training for Bright Grey and Scottish Provident since 2010, prior to which he was regional sales manager at Bright Grey. Claeys joined from Legal and General, where she served as a protection and development manager for nearly five years.

PricewaterhouseCoopers appointed Simon Marriott as a director and Algernon Kent as a senior manager to its real estate practice to advise institutional and private investor clients across all principal property asset classes in the UK and Europe. Marriot joined from Oxford Properties Group, where he was managing director, senior vice president investments, Europe. Algernon served at Hammerson, where he was an investment surveyor in the London team.

UK-based Seven Investment Management appointed Verona Smith as its new head of platform. Smith joined 7IM from Cofunds, where she served as marketing director. Before that, she held an industry consultancy role at The Platforum. In her new role, Smith is responsible for 7IM’s platform, overlooking sales, relationship management, and the firm’s platform service offering.

London-based Ashcourt Rowan appointed Harry Burnham as chief executive officer of its asset management business. Burnham joined Brewin Dolphin in 2000, following five years at Williams de Broe. At Brewin Dolphin, he ran the group’s fund research, stepping down in 2008. He was responsible for a wide range of portfolios and had managed Brewin Dolphin’s pension fund since its launch in 2004.

Brown Shipley, the UK-based private bank, appointed Jenny Purves as private client senior manager, based at its Edinburgh office. Purves previously served at Bank of Scotland and has over 35 years of experience within the financial industry.

Sanlam Private Investments appointed Graham Faultless as business development manager for the South East region of the UK. He joined from Zurich For Intermediaries, where he was a senior sales consultant, responsible for a panel covering Surrey, Sussex and Kent. Prior to this, he was at Clerical Medical where he worked both as pensions specialist and sales development manager.

Old Mutual Wealth appointed Peter Mann as vice chairman and Steven Levin as global head of distribution. Both report to Paul Feeney, chief executive of Old Mutual Wealth. Mann was previously managing director for the UK market at Old Mutual Wealth. Prior to this, he was chief executive officer of Skandia UK before it was merged into Old Mutual Wealth. Levin was managing director for international markets at Old Mutual Wealth. He was previously product and proposition director for Old Mutual in South Africa and then globally for Old Mutual.

UK-based M&G Investments appointed Claudia Calich to its retail fixed interest team. Calich was previously at Invesco in New York, most recently as head of emerging markets debt and senior portfolio manager, and before that at a number of US-based financial institutions. Calich reports to head of team Jim Leaviss.

Coutts appointed Hans Prottey to the newly-created role of corporate finance specialist, executive director within Coutts’ strategic solutions team, based in London. Prottey was previously at Macquarie Capital and is responsible for the development and implementation of Coutts' corporate finance referral service and direct private equity investment opportunities proposition.

Old Mutual Global Investors appointed James Gilbert as an analyst in the UK small- and mid-cap equities team, reporting to Daniel Nickols, who leads this group. Gilbert has worked in this sector of the market for over five years, starting his career at Deutsche Bank in 2005 moving to Canaccord Genuity in 2008 as a support services equity research analyst.

Saunderson House, the UK-based investment advisor to individuals and institutions, appointed Duncan Ross as chief operating officer, a newly created role. He previously worked at Citi Securities & Funds Services’ wealth business.

Adam & Company, the Scottish private bank, appointed Alisdair Dewar as head of the Edinburgh office and Ian Massie as head of the Aberdeen unit. The pair report to Kerry Falconer, managing director of relationship management. Dewar joined Adam & Company in 1999, becoming a director in 2009.

Legal & General Investment Management appointed head of asset and allocation management Emiel van den Heiligenberg as head of management of multi-asset funds. Van den Heiligenberg joined LGIM in August 2013 as head of asset allocation with responsibility for asset allocation strategy and macro research. Prior to joining LGIM, he was chief investment officer of the multi-asset solutions group at BNP Paribas Investment Partners.


Bank J Safra Sarasin has appointed Sergio Penchas as head of its asset management, products and sales division, and as a member of its executive committee. He took over from Burkhard Varnholt, who resigned. Penchas resigned from his membership of the board of directors of Bank J Safra Sarasin Ltd and of J Safra Sarasin Holding AG.

Penchas, a Brazilian citizen, has more than 20 years of experience in the banking and financial markets industries with the Safra Group.

Cecile Civiale Vuillier, a former chair of STEP Suisse Romande, was appointed as director at Corpag Services (Switzerland) in Geneva. Until recently, she was managing director of Alpadis in Switzerland, responsible for Swiss operations; she previously spent two years at Bedell Trust Suisse as director and then managing director. Prior to that she worked in a management company in Switzerland for eight years, where she provided international trust and corporate services to clients worldwide. Civiale Vuillier, who is also a judge for this publication’s Switzerland/Liechtenstein wealth management awards, is also a member of WealthBriefing’s Swiss editorial board.

Appway, the onboarding specialist firm, opened a new office in Ticino, Switzerland, which is expected to be home to 30 employees and be a training centre for developers.

The firm has done business in the Ticino area since 2006; the new office means it will significantly expand its presence there.

KPMG, the accountancy and professional services firm, restructured its advisory arm in Switzerland.  Peter Dauwalder took over as head of transactions and restructuring while Anne van Heerden is in charge of consulting. Overall responsibility for advisory remains with Stefan Pfister. To streamline this area of work, the advisory segment will be divided into two areas, transactions and restructuring and consulting.

Nerine Group of Fiduciaries, part of financial services provider Nerine Group, appointed Walter Ferrari to the role of finance director in its Geneva office. Ferrari, with more than 25 years’ professional experience within the finance industry, served a number of international finance companies, and was also a senior member of staff for a private family office where he was responsible for their accounting and finance requirements.


Deutsche Bank renewed co-chief executive Jürgen Fitschen’s contract, which now runs to 31 March 2017. The bank’s supervisory board agreed the request after it had been proposed at the chairman’s committee on 11 September this year. The contracts of Fitschen and Anshu Jain, co-CEOs of Deutsche Bank, both continue through to March 31 2017. Both men had asked for the contract renewal.

Trust Corporation, the Channel Islands-based organisation, restructured senior management to “pave the way for future growth and development”, moving Amit Taylor to the newly-created role of group managing director. One of the company’s founders and former managing director, Michael Betley, took on the new role of executive group chairman and previous chairman Tim Betley remained as a non-executive director.

OVS Capital, the investment manager which focuses on European equity event-driven strategies, appointed Nitin Sharma to its investment team; it also promoted Manuel Blanco to partner. Sharma joined OVS as an analyst from Centaurus Capital.

Sal Oppenheim promoted Dr Cordula Haase-Theobald to lead the Cologne office, in a move to reinforce its headquarters. Haase-Theobald was previously head of client and foundation management at Sal Oppenheim and managing director of the family office Oppenheim Vermögenstreuhand (now Deutsche Oppenheim Family Office). Having advised wealthy clients for more than 15 years, she replaced Andreas Winterberg, who left the bank for new opportunities.

iShares expanded its Europe, Middle East and Africa sales teams, and appointed Jessica Eistrand and Deri Bainge as directors. Eistrand covers the Nordics and Benelux and Bainge covers Germany, Switzerland and Austria. They report into Leen Meijaard, head of iShares EMEA Sales. Eistrand has over 13 years of sales experience in the Nordic region and joins from StormHarbour, where she worked in the European client solutions team and was responsible for managing Nordic institutional clients. Prior to this, Eistrand served at JP Morgan. Bainge, meanwhile, has more than 10 years of experience in sales across German speaking regions in Europe. He previously worked at Credit Agricole CIB.

ING Group made a number of senior leadership changes which it sees as an important step towards its flotation next year. Ralph Hamers took over from Jan Hommen as chief executive. The appointment was originally proposed in February 2013 and approved at the Annual General Meeting in May. Lard Friese was appointed vice-chairman of ING Insurance.

Middle East and Africa

Nedbank Private Wealth, part of the Old Mutual Group, appointed Marc Beattie and Chris Jones as private bankers to its Dubai-based regional operations. Beattie, with nearly 15 years’ experience in the financial services and private banking industry, previously served in a number of advisory and business development roles in Lloyds TSB International Private Bank in Dubai and Jersey since 1999. Jones has over 25 years’ experience in advisory and management roles within the financial services industry. Prior to joining Nedbank Private Wealth, he worked as a private banking manager at the Dubai branch of Lloyds TSB International, managing portfolios of private and high net worth clients across the GCC region. 

Deutsche Bank appointed Fahad Albader and Adel Dagher as co-heads of asset management coverage for Deutsche Asset & Wealth Management in the Middle East and North Africa. Albader and Dagher have joint responsibility for representing DeAWM and its investment capabilities to institutional clients across the MENA region. Based in Dubai, they report to Peter Roemer, head of DeAWM's global client group, Europe, Middle East and Africa. Albader joined from Deutsche Bank's Corporate Banking and Securities (CB&S) division, where he was most recently head of coverage for Kuwait. Dagher joined after 12 years with Man Group, where he most recently helped to develop Man’s institutional business in MENA, with a focus on alternatives.

Societe Generale appointed Richad Soundardjee as group chief region officer for the Middle East, as well as chief executive of Societe Generale Dubai. He replaced Eric Wormser, who was appointed in another senior position within the group. Based in Dubai, Soundardjee reports to Slawomir Krupa, CEO of Central and Eastern Europe, Middle East and Africa for corporate and investment banking, private banking, asset management and securities services. Soundardjee was previously head of global capital markets overseeing the CEEMEA region for Societe Generale Corporate & Investment Banking, holding that position from 2009. He joined the French bank in 1994.

The Kuwaiti investment firm, Global Investment House made Raul Biancardi an executive vice president, as he joined Global to head its asset and wealth management arms. He served as a top executive for regional and international financial institutions including NCB Capital, Lehman Brothers, Deutsche Bank, and Morgan Stanley.

Asian Moves

UBS Global Asset Management, the asset management arm of Swiss banking giant UBS, named a new head of investment strategy for its Australia business.

Tracey McNaughton joined the Australasia team to focus on local economic and investment research. In addition, she has become part of the Australian Investment Committee.

McNaughton was previously a senior investment specialist at Colonial First State, where she worked for three years. Prior to that, she held specialist roles at Ballie Gifford, BT Investment Management, Westpac and Credit Suisse First Boston. Taking over from Mark Rider, who moved to ANZ four months ago, she now reports to Bryce Doherty, head of UBS GAM in Australasia.

Bank of America Merrill Lynch appointed a new chief executive and country executive for Australia.

Kevin Skelton is now the head of the Australia business, taking over from James Barrett-Lennard, who served as acting country executive. Barrett-Lennard continues as chief operating officer for Australia and will work closely with Skelton.

A veteran banker, Skelton brings over 25 years of experience working at the firm's New York, London, Singapore, Melbourne and Sydney offices. He most recently served as head of Australia investment banking. In his new role, he also becomes a member of the Asia-Pacific executive committee.

Guardian Advice, the Australian life risk specialist dealer group, strengthened its presence in Queensland with a new state manager.

Andrew Hammelmann joined the firm after serving as practice development manager for MLC and NAB Financial Planning. He was also Queensland state manager for compliance at MLC, where he specialised in guiding advisors' business practices and quality of advice. Before that, he was a senior compliance and surveillance officer with the ASIC's financial services industry unit.

In his new role, Hammelmann replaces Hugh McLennan who remains with the company as Queensland practice development manager after serving as state manager for seven years.

AMP, the Australia and New Zealand wealth management firm, reshuffled its management ranks to build a "leaner, more efficient" team, effective 1 January 2014.

Under the new structure, Lee Barnett retains his role as chief information officer, responsible for the company's information technology function, workspace and sourcing, while Pauline Blight-Johnston, director of wealth protection and mature products, was promoted to group executive for insurance and superannuation. Also promoted was Rob Caprioli, from director of banking and wealth management products, to group executive for advice and banking.

Gordon Lefevre, CFO of property firm Grocon, replaces Colin Storrie as chief financial officer, effective 1 March 2013. Lefevre will join AMP at the end of January 2014.

BT Investment Management, the Australian investment firm, named a replacement to outgoing chairman Brian Scullin, who retires on 6 December 2013 after six years on the post.

James Evans has been with the company since 2010 when he joined the board as non-executive director. He is currently the chairman of the audit and risk management committee. Evans brings over 40 years of industry experience to the firm and has held senior positions at Commonwealth Bank and Lend Lease.

JBWere, the Australia and New Zealand-focused private wealth management firm, appointed a new chief investment officer.

James Wright is now responsible for setting the firm's investment strategy. He oversees the asset allocation, product and security selection for the company's private wealth management, institutional and non-for-profit client portfolios.

Wright most recently served as CIO and head of equities at ING Investment Management. He has over 23 years of experience in the wealth management industry and has served the Commonwealth Treasury and Treasury Corporation of Victoria.

He replaced Giselle Roux who resigned in May.

Guy Carpenter, the global risk and reinsurance firm, strengthened its Australian operations with six new hires.

Matthew Rose now in the newly-created role of principal, capital and strategy, overseeing the firm’s expanded range of advisory services. Rose brings 23 years of industry experience to the role, having worked at Suncorp, Wesfarmers Insurance and Zurich.

Joining him were Tom Harvey as catastrophe analyst, Kim Collins as head of broking property replacements and Teresa Aquilina as head of property and casualty underwriting. The firm also relocated Samantha Dew and Valerie Badcock from London to lead the broking casualty placements and property division, respectively.

AMP Capital, the funds management arm of AMP, named a former National Australia Bank executive to lead its expanded self-managed super funds business.

Tim Keegan left his role as head of NAB's online broking business Nabtrade to assume the newly-created position of head of SMSF at AMP Capital at the end of October 2013. Prior to NAB, he held a similar role at Macquarie Bank.

Essence Fund Management, the Chinese fund advisory firm, appointed a new general manager.

Liu Ruling assumed his new role in 12 October 2013, replacing Wang Lianzhi, who has moved on to become president of its parent firm, Essence Securities. Liu was previously a director at Essence Futures and has been part of the company since June 2007. Prior to that, he was the general manager of the wealth management arm of China Merchants Securities.

Moelis & Company, the global investment bank that also provides financial advisory and asset management services, appointed a new Asia head.

Zhang Xiuping is managing director and head of the Asia mergers and acquisitions unit based in Hong Kong. In this role, she is responsible for deal origination and providing advice to regional and global clients with a focus on cross-border transactions in and out of China. She works closely with the Beijing office.

Zhang was previously the managing director and head of Asia M&A at Bank of America Merrill Lynch. Prior that that, she was managing director and head of China M&A at Deutsche Bank.

Manulife Financial, the Canada-headquartered financial services group, hired a new head of wealth management for Asia.

Donna Cotter is vice president and head of wealth management, Asia, reporting to Philip Hampden-Smith, executive vice president and chief marketing officer for Asia. She has been with the wealth management team since March 2011 as head of the regional strategy and product development team.

Cotter joined the firm's corporate development team in Hong Kong in January 2010. Prior to her move to Asia, she held various roles in Manulife's Canadian division since 2003, including in pension operations, Manulife Securities and Individual Wealth Management.

RBC Wealth Management strengthened its South East Asia team with four senior appointments.

Adria Chiu is director of the client solutions group, reporting to Enoch Tan, managing director and head of the client solutions group for RBC Wealth Management Asia. She brings nearly 12 years of industry experience to the role.

Choa Yeye was named director for South East Asia, reporting to Reto Caviezel,senior director for RBC WM South East Asia. She has 20 years of experience behind her.

Deepu Joseph is senior director for RBC WM South East Asia, reporting to Febby Avianto, managing director and market manager. He brings 15 years of industry experience to this post.

Finally, David Tan is senior director for RBC WM South East Asia. He also reports to Avianto. Tan has 12 years of industry experience.

Withers, the international law firm, relocated one of its top lawyers in London to lead its new Asian corporate and finance practice in Hong Kong.

Denis Petkovic, head of international finance and projects practice in London, brings 30 years of experience representing lenders, developers and investors from various sectors. The move strengthens the firm's continuing expansion strategy in the Asian region, particularly in the corporate space.

Eastspring Investments, the Asian asset management business of Prudential Corporation Asia, named a former Deutsche Bank executive as deputy chief executive and global head of distribution, product and marketing.

Michele Bang took up the newly-created position as part of the firm's continuing global expansion strategy.

She reports to Guy Strapp, who changed his role in the company from chief investment officer to chief executive in August 2013 and replaced Graham Mason who relocated to South Africa.

Stephenson Harwood, the international law firm that has a dedicated wealth management practice, bolstered its Hong Kong wealth arm with a new hire.

Peter Hodson joined as consultant and head of trust, bringing with him extensive experience in banking, finance, wealth management and fiduciary services. He is a former chairman of the Hong Kong Trustees Association and ex-president of the Guernsey International Legal Association.

Brunswick Group, the global financial and corporate communications firm, announced a new senior advisor based in Hong Kong.

Tim Freshwater brings over four decades of experience in the legal and banking industries and most recently served as vice chairman of Goldman Sachs (Asia). He remains an advisory director at Goldman and also sits on several boards including Hong Kong Exchanges & Clearing and Swire Pacific. He also held senior roles at international law firms Slaughter & May and Jardine Fleming.

Morgan Stanley Private Wealth Management Asia hired a former UBS Private Bank executive to join its managed products team, this publication has learned.

Effective December 2013, Ernest Chan joins the company as managing director and head of managed products Asia. This is the first time Morgan Stanley has had a managing director in this role.

Chan was previously a managing director and head of investment funds, sales and distribution at UBS Private Bank Hong Kong and brings twenty years of credit marketing, capital advisory and funds distribution experience to the firm. Prior to UBS, he was with JP Morgan Private Bank Hong Kong.

Betty Wong joined Banque Privee Edmond de Rothschild as a director in Hong Kong.

Wong formerly worked at Swiss-headquartered BSI (owned by Italian financial services group Generali).

Withers, the international law firm, bolstered its Asian family practice with five key hires in Hong Kong.

Veronica Chan, April Wong, Billy Ko and William Huynh all joined the Hong Kong practice from other law firms, while Tim Carpenter relocated from the Withers London office. The company's 15-strong family team in Hong Kong advises clients on issues pertaining to families, such as divorce, prenuptial and postnuptial agreement, forum shopping, and child custody and cross-border disputes.

Investec Asset Management expanded its Asian retail fund capabilities with the creation of a new management position.

Beonca Yip assumed the newly-created role of head of advisor distribution for Asia ex-Japan and reports to Richard Garland, managing director of the Americas, Japan and Asia advisor client divisions. Yip was previously the head of retail at Eastspring Investments, the asset management arm of Prudential Asia. She left in May 2013.

Tokyo-headquartered Mitsubishi UFJ Financial added John V Roos, former US Ambassador to Japan, to its six-member global advisory board. Roos served as ambassador from August 2009 to August 2013. He is now part of a group composed of two European, two Asian and two American members.
The State Bank of India named Arundhati Bhattacharya as the bank's 24th chairperson, succeeding Pratip Chaudhuri who retired on 30 September. Bhattacharya, who previously served as managing director and chief financial offer, is SBI's first female chairperson. She has been with with the bank since 1977.
Threadneedle Investments named Soo Nam Ng as head of Asia equities, along with four more key hires for the region. Ng works with a new team consisting of Bernard Lim as senior fund manager for Asia ex-Japan, Christine Seng as fund manager for Singapore and Australia, Weixiong Liang as analyst and Wee Jia Low as senior associate. All are based in Singapore. 
State Street Global Services appointed Elizabeth Sok-Gek Chia as head of global services for South East Asia and Singapore branch manager. Chia was the managing director and head of client development at BNP Paribas Securities Services and is now responsible for building the business in Singapore, Brunei, Malaysia and Thailand, while leading the Singapore office. 
ANZ Private Bank named Mario Bassi to the role of global business development head, based in Singapore. Bassi joined the firm from a three-year stint with Solution Providers. He is a veteran banker who has held senior roles at Deutsche Private Bank and Credit Suisse.
UK-headquartered financial software firm Misys appointed Chris Curtis as its regional sales director for Asia-Pacific. He took over from Craig Bennett. Based in Singapore, he now oversees new business development and client relationships across the Asia region. 
Avaloq Group, the global banking technology developer, hired Gery Dachlan as head of sales for Asia-Pacific, based in Singapore. Dachlan previously served as head of private banking sales for Asia at TradingScreen. 
BNP Paribas, the French banking giant, appointed Pierre Veyres as chief executive of BNP Paribas Singapore and regional head for South East Asia. He took over from Jean-Pierre Bernard, who retired. Veyres had been the global head for BNP Paribas CIB Transaction Banking since December 2009. Also appointed was Arnaud Tellier as CEO for the wealth management, Singapore branch. Tellier replaced Serge Forti, who continues to focus on his role as head of Singapore, Indonesia and Malaysia markets. 
International law firm White & Case expanded its global partner roster by 18, two of whom are based in Asia. Thomas J Benedict was named partner in the global white collar practise in Singapore, while David Li joined the Beijing team as partner for the global banking practise. 
Eastpring Investments, Prudential UK's Asian asset management arm, announced Gwee Siew Ping as its new chief risk officer, reporting to Guy Strapp, chief executive. She replaced Lakshman Kumar, who retires at the end of 2013 from his position as head of risk, compliance and governance. She was previously the regional head of compliance and risk for Asia-Pacific at Schroders Investment Management.

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