People Moves

Executive Moves In Wealth Management - December 2011

6 January 2012

Executive Moves In Wealth Management - December 2011


AXA Investment Managers appointed Benjamin Rumary as investment sales manager for the Channel Islands, Ireland and the southwest of the UK. Rumary joined from LV= Asset Management, where he was investment sales manager for the south of England and London.

Lowes Financial Management, the UK IFA and structured products specialist, appointed Sham Yapa - latterly of Investec - as business development manager. Yapa is a specialist in derivatives and structured products, and he was part of a team brought in by Investec to launch a structured product operation in 2007.

Lloyds’ head of key clients left the post after just two months but will stay within the UK-listed bank's domestic wealth team. Malcolm Glaister was appointed to the position at the end of September, when the bank announced a new senior management line-up.

Jersey-listed Royal Bank of Scotland International beefed up its wealth management capabilities in the Isle of Man and hired Richard Davies and Caroline Callow to help local clients across RBS International, Isle of Man Bank and NatWest. Davies joined from Coutts, the RBS-owned UK private bank, as a wealth manager. He spent four years at Coutts, latterly as senior client relationship associate. Callow, who began her career at RBS International in the Isle of Man nearly 20 years ago, was appointed as a trainee independent wealth manager.

US-based wealth management platform SEI appointed Richard Goodall as managing director for its UK business transition in global wealth services, to strengthen the management team. Goodall joined the London office and reports to Ryan Hicke, managing director of SEI’s global wealth services unit in the UK.

MAM Funds, the UK-based asset manager, hired Robert Edwards Clarke as group finance director and director of operations. The newly-created role covers both finance and operations. Previously, Clarke was chief executive of Witan Investment Trust and prior to that he was chief executive at Majedie Investments.

Bordeaux Index, the UK-based fine wine merchant and online trading platform, appointed Michael Spencer as non-executive chairman. Spencer founded and is chief executive of ICAP, the UK-based interdealer broker and member of the FTSE 100 index.

Kames Capital, the London-based investment manager, promoted Peter Shaw to joint manager of its UK Equity Fund. Previously Shaw was support manager for the fund. He now manages the fund with Stephen Adams, head of UK equity.

Caroline Garnham, who left LG after a conflict of interests, was appointed managing director of Family Bhive, a website for the ultra high net worth industry. Private client lawyer Garnham founded the website about two years ago and has worked on it ever since but now leads it on a full-time basis.

Friends Life Investments, Friends Life’s new asset management business, recruited a fixed income team from LV Asset Management. Michael Wright, John Hampton, Purna Bhudia and Nigel Bradshaw are based in London and report to Mark Versey, chief investment officer.

Barclays Wealth appointed Paul Wilson as head of employee benefit consulting and gave the leadership of global stock and reward services over to Chris Mowatt. The UK wealth manager said the motivation behind the appointments was to get closer to wealth creators earlier in their career, entrenching long-lasting relationships.

AXA Investment Managers handed over management of its £130 million ($203 million) Sterling Corporate Bond Fund to Nick Hayes allowing Theo Zemek to concentrate on her managerial responsibilities as global head of fixed income and a member of the firm’s management board.

Jeremy Parlons left Credit Suisse’s private bank in the UK, where he had held the role of relationship manager and director. His future plans are unclear.

Fleming Family & Partners, the multi-family office, appointed Ian Marsh - latterly of Credit Suisse - as group head of asset management. Marsh left the Swiss giant, where he was most recently chief executive of private banking in the UK, after nearly 20 years in November last year.

James Fleming stepped down from the UK management committee of Coutts after two months. Fleming headed to a new company, the identity of which has yet to emerge.

Italy’s UniCredit recruited Franz Witt-Doerring from UBS to head its Austrian private banking unit, Schoellerbank, as of June 2012.

UBS Global Asset Management appointed Ian Barnes as its new head of UK and Ireland, to replace John Nestor, who steps down this year. Barnes chairs the global asset management UK management committee and joined the global asset management European management committee.

Channel Islands-based Fairbairn Private Bank bolstered its London team with the appointment of Mark Lambert to the newly-created role of senior business developer. Lambert was latterly a business development director within the wealth management business of UBS; he previously worked as a financial planner and independent financial advisor with American Express and, more recently, in the investment platform and private banking worlds.

Scottish Widows Investment Partnership named Francis Ghiloni as director of distribution and client management – a position he held on an interim basis since June. In the position, Ghiloni is in charge of sales, marketing, product development and media relations at the UK fund manager. 

Sion Cole, head of fiduciary business development in the UK at UBS Global Asset Management, left the Swiss banking giant. Cole’s departure followed the bank’s decision that it no longer required a dedicated sales resource to develop business opportunities in the UK fiduciary area. Advisory services from its global investment solutions team will however remain available.


LLB (Switzerland), a subsidiary of the Vaduz-based Liechtensteinische Landesbank, made a number of senior management changes. Dieter Zürcher took early retirement. The present chief operating officer, Marc Parmentier, took his place on the board.

As a result, Lucas Bruggeman, responsible for institutional banking, took charge of private banking. He heads both market units. Parmentier took charge of the bank’s back-office and control functions.

Switzerland’s Reyl Asset Management bolstered its fixed income team with the hire of senior fund manager Gilles Pradère. Pradère began his career in 1990 at BNP Paribas, where he managed fixed income arbitrage activities, before joining Pictet Asset Management in 2001 as a senior investment manager.

Julius Baer appointed Urs Monstein as new Head IT. Monstein took over from Robert Schleich, who left to pursue other opportunities.

Gilbert Achermann and former group managing director of UBS Andreas Amschwand will be proposed for election as new members of the board of Swiss private banking group Julius Baer at its Annual General Meeting on 11 April 2012. Current board member Peter Kuepfer is stepping down after his fifth term in office.

Jersey-headquartered multi-family office Stonehage group appointed Richard Baldock, former executive vice-chairman of Rothschild Trust in Zürich, as executive director in its Zurich office. Baldock had been at Rothschild Trust in Zurich for over 14 years.

Liechtensteinische Landesbank said Thomas Eichler had left its Swiss bank subsidiary, Bank Linth, due to a clash of views about the strategic direction of this business. As a result, Heinz Knecht took over as CEO and Georges Knobel was appointed as chairman of the board of directors.


London-based asset manager Threadneedle appointed William Davies as head of global equities. Davies first joined Threadneedle in 1994, and headed the firm’s European equities team since 1999.

South African-based Standard Bank hired Seán Flanagan as head of compliance for its offshore operations. He is in charge for compliance functions in Jersey, the Isle of Man and Mauritius, and based in Jersey. Previously, Flanagan worked at the Isle of Man Financial Supervision Commission, where he was responsible for the funds and investment business team.


Vanguard, the US-based funds firm, appointed Peter Westaway as chief European economist. Previously Westaway held a similar position at Nomura International; before that, he was senior research advisor for the Bank of England.

Société Générale Private Banking appointed two chief investment officers to its London and Luxembourg affiliates. Eric Verleyen moved from the position as CIO at Société Générale Bank & Trust in Luxembourg to the same role at Société Générale Private Banking Hambros in London.

Pioneer Investments bolstered its sales team in Spain and Portugal with the hire of Begoña Gomez as sales manager. Gomez was latterly distribution sales manager at Amundi Asset Management and previously worked for Credit Agricole Asset Management and Arcalia.

BNP Paribas appointed Lars Machenil as chief financial officer. Machenil served as CFO of BNP Paribas Fortis prior to this appointment, effective as of 1 March.

Gide Loyrette Nouel, the international law firm headquartered in Paris, named its new executive committee: five partners make up the new management team. Baudouin de Moucheron is senior partner, succeeding Pierre Raoul-Duval. Managing partner as successor to Christophe Eck was Stéphane Puel, an expert in financial regulation and structuring investment funds. Baudouin de Moucheron is senior partner, succeeding Pierre Raoul-Duval. Managing partner as successor to Christophe Eck is Stéphane Puel, an expert in financial regulation and structuring investment funds. Eck remained a committee member. The three other members of the executive committee are: Christophe Eck, David Lasfargue and Frédéric Nouel.

Northern Trust appointed Struan Malcolm as head of asset-servicing sales in the Nordics. Based in Stockholm, he targeta a client base including insurance companies, pension funds, charities and fund managers across Sweden, Denmark, Finland and Norway. Malcolm rejoined Northern Trust from Nomura, where he was most recently senior transition manager responsible for the Nordic region.

UK-based fund manager M&G Investments named James Tomlins as fund manager for its European High Yield Bond Fund. Tomlins was also appointed deputy fund manager for M&G’s High Yield Corporate Bond Fund, reporting to fund manager Stefan Isaacs. Previously, Tomlins worked for Merrill Lynch Investment Managers and KBC Alternative Investment Management. Prior to joining M&G, he was deputy fund manager of the Cazenove Strategic Bond Fund.

Middle East

The National Bank of Abu Dhabi appointed Ghadeer Abu Hijleh as head of private banking for Abu Dhabi and Al Ain. Abu Hijleh joined the bank in 2007. Prior to her new appointment she was the regional head of business development in private banking, focusing on North Africa.

North America  

San Francisco-based First Republic Bank appointed Garrett Sokoloff from UBS as a managing director for the New York office. At UBS, Sokoloff was also based in New York and worked as a managing director and co-head of conduit origination in the real estate finance group.

UBS Wealth Management added two financial advisory groups to its Americas team. The Findley/Wise Group joined the Toledo, Ohio office, bringing to the firm production of $6.3 million and assets under management of around $800 million. The second group moved to the Rochester office in New York, which brings approximately $375 million in assets under management to the unit.

Aegis Capital, the New York investment management firm, hired Peter Hirsh as managing director for investments as part of a drive to further grow its wealth management offering. Hirsh joined from Janney Montgomery Scott where he served as a financial consultant.

Northern Trust appointed Suzanne Shier as tax strategist for its personal financial services division. In her new role, Shier contributes to the discussion of issues surrounding federal tax - with a focus on charitable giving, trust law and tax legislation.

Los-Angeles based Wedbush Bank appointed Steven Madrigal as a vice president and senior private banker within its sales team. Based in the LA office, Madrigal’s main responsibilities are to develop and manage a portfolio of private banking clients throughout the Southland, as well as the firm’s partner offices.

John Hancock Financial Services, the Boston-based unit of Canadian asset manager Manulife Financial Corporation, named John Vrysen as president of its annuities business. Vrysen served as head of strategic initiatives for the company since 2008. In his 34-year career with Manulife and John Hancock, he has held a number of positions, including as chief actuary for variable annuities, chief financial officer for US operations, chief operations officer for Wood Logan, general manager for fixed annuities and chief operating officer for John Hancock Funds.

Northern Credit Union, the Canadian financial services firm, added Les Dunbar as an investment advisor for its Northern wealth management team. Dunbar brings over 20 years of industry experience to the role and previously served as an investment advisor at RBC Dominion Securities.

Reliance Financial Corporation, the Atlanta-based financial services and wealth management firm, added Richard Curcio and Ward Curtis to its board of directors. Curcio was chairman and president of Integrity Investments and Integrity Management and Research, which he founded in 1992.

First Republic Bank, the private banking and wealth management firm, named Luke Peterson as a managing director for the Boston office. Peterson was previously with Wells Fargo Bank where he served as vice president and branch manager in Boston. At First Republic, he now serves as a single point of contact to a team of professionals who provide banking, investment management, trust, brokerage and real estate lending services. 

The Bulfinch Group, the New England-based wealth management firm, added Amy Lampert to its team of affiliated advisors. Lampert is the founder of Womensworth, an investment education and consulting group that promotes financial literacy among women and young people. Before becoming affiliated with Bulfinch, she was an independent investment advisor and has also worked at UBS, Mellon Bank and HSBC.

Barclays Wealth appointed five investment representatives to its New York office, bringing its total hires in the Americas to 50 last year. Jack Broderick and Bill Belleville, who both joined from Credit Suisse Private Banking, are now managing directors at the UK-headquartered bank’s wealth arm. Broderick worked at Credit Suisse for 15 years, most recently as a relationship manager in private banking. Michael Gordon, Scott Madison and Jonathan Sopher, also joined as directors.

Ladenburg Thalmann Financial Services made a flurry of appointments, including that of Adam Malamed as its chief operating officer. The rest of the appointments were for executive-level spots at its broker-dealer, Ladenburg Thalmann & Co.

As part of the reorganization, David Rosenberg and Peter Blum were appointed co-presidents and chief executives of Ladenburg Thalmann & Co, and Steven Kaplan was named head of capital markets.

Mark Zeitchick, who previously served as president and chief executive at Ladenburg Thalmann & Co, continues to serve as executive vice president at Ladenburg and as a member of the firm’s board of directors, positions he’s held since 1999.

Private Bank of California appointed Jesse Martin as vice president client services manager. Martin joined the bank’s Century City headquarters, focusing on cash management, product upgrades and operations. He now reports to Marlon Osorto, who is senior vice president director of operations.

The Milwaukee, WI-based investment bank Robert W Baird nabbed two brokerage teams, hiring a total of six people overseeing some $343 million in assets. The teams were Dallas-based Grant Halliday Group, led by advisors Neil Grant and Luke Halliday from Morgan Stanley Smith Barney, and a Fort Worth-based group led by advisors George Gamez and Jim Hazel from Wells Fargo Advisors. They joined by registered client relationship associates Charu Dayal, from MSSB, and Michell Barber, from Wells Fargo Advisors.

Tompkins Financial Advisors, the wealth management arm of New York-based Tompkins Financial Corporation, appointed Laurie Haelen as managing director for the Western New York division. Haelen has over 20 years of wealth and portfolio management experience and most recently served as senior vice president and director of investment services at the firm. In her new role she is based in the Pittsford regional office and oversees a team of wealth advisors, financial planners and trust officers.

San Francisco-based First Republic Bank hired Gayle Nickel as a managing director and preferred banking team leader in Silicon Valley. Nickel is now responsible for preferred banking deposit initiatives in the Silicon Valley area. Prior to this post, she worked for Silicon Valley Bank for 18 years, most recently as head of client advisory services in the venture capital and corporate finance group. She is now based at the bank's Menlo Park office.

Barclays Wealth hired Joseph Danowsky as managing director and head of solutions for the Americas. Danowsky joined the company from JP Morgan Securities, where he worked in a similar role for the past three years. Before that, he spent over two decades at Bear Stearns in various positions including senior managing director for the advisory services and wealth management division.

Washington Wealth Management created a northeastern presence with the launch of an office in Connecticut, and the addition of a wealth advisory team from Morgan Stanley Smith Barney. 

Joining Washington was Pacilio Wealth Management, which is led by 25-year financial services veteran Thomas Pacilio. Under the terms of the partnership, Pacilio now assumes a dual role as president and managing director of Pacilio Wealth and as director of Washington's Westport, Connecticut office. He was joined by Daniel Besse, vice president and managing director of Pacilio Wealth, and Brian Fink, vice president. 

Wealth management software and services provider Envestnet completed its acquisition of FundQuest, BNP Paribas’ US provider of fee-based managed services, in a $24.4 million cash deal for all outstanding shares, according to its 8-K filings with the SEC. Along with the completion, FundQuest’s chief investment officer moved to Envestnet to take over the role of chief investment strategist.

Bank of America appointed John Bottega as chief data officer, who is now responsible for the strategy, policy and governance of the bank’s data management. He reports to Marc Gordon, enterprise chief information officer, and is based in New York.

TDECU Wealth Advisors, the Texas-based financial advisory firm, added Robyn Cochran to its growing wealth management team. Cochran was previously an assistant vice president, senior financial advisor at Merrill Lynch and has served in various executive and senior-level roles in the financial services industry over the past 20 years. The firm also announced plans to appoint 10 to 15 more financial advisors in Houston, Brazoria County and Victoria over the next 12 months, as it embarks on an expansion strategy in the US.

State Street Global Advisors nabbed Mellon Capital Management’s chief investment officer for a senior emerging markets investment role. The investment management firm, part of New York-listed State Street, appointed Michael Ho as chief investment officer for its active emerging markets equities and global macro capabilities. Based in Boston, Ho manages the active emerging markets team and leads the development of global macro strategies. He reports to Alistair Lowe, global chief investment officer for active equities.

Bank of the West, the US-based subsidiary of BNP Paribas, hired Brian Katz as a senior vice president to lead a newly-created banking and sales strategy team under its wealth management group. Katz joined the company after serving as a senior marketing executive at a number of firms including Aegon, UBS and MetLife.

Park Sterling Bank appointed David Parker as president of its eastern North Carolina operations. Parker brings 30 years of financial services experience, most of which were spent at Wachovia Corporation, where he most recently served as eastern region executive, based in Wilmington.

Creekside Financial Advisors, the Cleveland-based financial planner, appointed Susan Svenson as client manager. Svenson previously worked for Cedar Brook Financial Partners and Fairport Asset Management. She brings over 20 years of financial services experience to assisting Creekside's advisors develop plans for their respective clients. 

Neuberger Berman, the New York asset management firm, named Eli Salzmann as manager of the Neuberger Berman Partners Fund and Neuberger Berman AMT Partners Portfolio. Salzmann joined the company in January last year as managing director and portfolio manager specializing in US large-cap value equity strategies.

First Republic Bank, the San Francisco wealth manager and private bank, appointed Mary Hayes as portfolio manager and managing director for its private wealth management unit. Hayes was previously a senior vice president and senior portfolio manager at US Trust in New York. Before that, she worked for Scudder Zurich Private Investment Counsel and The Bank of New York. In this new role, she offers equity and fixed income investment management solutions to high net worth individuals and families, foundations and endowments.

Gold Bullion International, the precious metals provider to individual investors and wealth managers, named Andy Provencher as head of business development. Provencher joined GBI after serving as head of third party distribution and member of the operating committee for Neuberger Berman, where he oversaw the creation and growth of the firm's separately managed account business.

WeiserMazars, the New York accounting firm, named Bridget Day as partner in its financial services group. Day had most recently served as partner in the financial services firm EisnerAmper, where she led the banking practice. She also spent 14 years at PricewaterhouseCoopers where she focused on the risk and quality SEC services group for two years. In her new position, she is based in the firm's Edison, New Jersey office where she is expected to apply 20 years of financial services experience to bolster the company's banking operations. 

First Western Trust Bank appointed Andrew Ewing as senior vice president and portfolio manager for its Los Angeles office. Ewing brings almost 40 years of investment management and private client advisory experience to the role. He joined the wealth planning team in October last year after serving five years as director in private banking for Credit Suisse in Los Angeles.

Baring Asset Management added Matthew Whitbread as an investment manager to the investment manager's US head office in Boston. Whitbread is now part of the company’s global multi-asset team and reports to Hayes Miller, head of multi-asset for North America. He joined from Fundquest, also based in Boston, where he was a portfolio manager.

Florida-based Chilton Trust Management lured fixed income veteran Timothy Horan from Morgan Stanley Smith Barney, along with a team of four fixed income investment professionals from MSSB and Moody’s Investor Services. Horan was a managing director and chief investment officer at MSSB Fixed Income Investment Advisors and joined the New York-based Chilton Private Clients affiliate on 3 January this year.

UBS Wealth Management Americas hired Barry Mitchell as senior vice president for investments. Mitchell joined from Merrill Lynch where he was first vice president, investments. At Merrill he had $290 million in assets under management and had a T12 of $1.9 million. At UBS, he reports to Dan Shepler, branch manager of the Park Avenue office in New York.

Bessemer Trust, the US-based multifamily office, appointed Lance Bylow as a principal. Bylow reports to Eric Gies, who is the northeast region head of business development. Based in the firm’s New York office, he is responsible for introducing ultra high net worth families to Bessemer’s global investment and wealth management services.

Foundation Source, the US-based provider of support services for private foundations, appointed two former Wachovia senior executives and philanthropy specialists to its management lineup. Carol Yonack and Tony Rodriguez joined as regional managing directors to the national business development team, reporting to H King McGlaughon, chief executive of Foundation Source.

Washington Trust Wealth Management nabbed Drew Bottaro from Wells Fargo Family Wealth as a vice president and senior financial counselor at its Wellesley, MA-based Weston Financial division. Bottaro was latterly a director of client services and senior vice president at Wells Fargo Family Wealth and was at predecessor businesses Calibre/Wachovia before that.

The Private Bank of California appointed Meredith Esarey as a vice president relationship manager, based at the firm's Century City headquarters. Esarey joined from EastWest Bank, also in Century City, where she worked in business development. Before that, she was a relationship manager at BB&T in Virginia for six years. 

BNY Mellon Wealth Management appointed Ron Bruder as a managing director, to assist the firm’s team of investment experts in advising ultra high net worth families and family offices. Bruder was most recently a director and vice president at Goldman Sachs, where he managed main floor operations of designated primary market-makers on the Chicago board options exchange.

Anglo-American law firm Mishcon de Reya appointed family law partner Michael Stutman to its New York office, joining from Mayerson Stutman Abramowitz, a family practice he founded in 1998.

Baring Asset Management appointed Michael Siciliano as its head of North American sales. Siciliano reports to George Harvey, head of sales, business development and client service. He joined Baring from Merganser Capital Management in Boston, where he was director of sales.

Scotiabank, the Canadian financial services group with a strong wealth management footprint, added Susan Segal to its board of directors, as well as its audit and conduct review committees. Segal has 30 years of experience in global finance markets and investment banking, primarily in emerging economies and especially in Latin America.

Glenmede, the Philadelphia-headquartered investment and wealth management company, named Jon Stanley as a senior portfolio manager. Stanley brings more than two decades of investment management experience to Glenmede and most recently served as a managing director at US Trust Company.

Edward Forst, global co-head of Goldman Sachs’ investment management division, retired from the firm at the end of last year. Forst was a veteran of the investment banking giant, having originally joined Goldman Sachs at its capital markets division in 1994. He went on to become co-head of that business and also served as chief of staff to both the equities and fixed income clearing corporation divisions and co-head of the global credit business.

UBS, Switzerland’s number one bank, added a senior duo to its wealth management teams in Hong Kong, including a leader for its global family office business. Valerie Chou joined the bank as the head of client coverage for the global family office business in Hong Kong on 5 December. She joined from the wealth division of Morgan Stanley where she spent the last 15 years in various senior management roles including co-heading the PWM business for Hong Kong client coverage and co-managing a joint venture between PWM and the institutional securities group.

The former management team of HSBC Capital Management completed its investment advisory arrangements with HSBC and formed an independent private investment firm called Graycliff Partners. The New York-headquartered investment firm focuses on private equity, mezzanine and real estate investment in middle-market companies in the US and Latin America. It manages around $1 billion in commitments from existing funds as well as look to manage new generations of funds.

California-based Fremont Bank appointed Jordis Moore as a senior trust officer. Moore had most recently served as a trust administrator at Wells Fargo Bank in Long Beach. She is a licensed attorney and previously worked in the estate planning and probate industry. In her new role she has taken over the general trust administration for Fremont’s wealth management and trust accounts as well as having joined the bank’s key fiduciary committees.

Richardson GMP, the Canadian wealth management firm, appointed Luc Papineau as director for wealth management and branch manager. Papineau was most recently a vice president for Eastern Canada at Dundee Securities. In his new role he works closely with Jean-Pierre Janson, managing director for national wealth management.

Wedbush Securities, the US-based investment firm, appointed Thomas Wyman as managing director of its private shares group unit.Wyman most recently worked for a variety of technology-focused hedge funds in the San Francisco Bay Area and was previously an internet research analyst at JP Morgan, where he began his career. In his new role, he is based at Wedbush's San Francisco office, reporting to Cyrus Pirasteh, head of equity trading, technologies and operations. 

Robert McCann took over the role of chief executive of UBS Group Americas, amid a number of top-level management changes worldwide at the Swiss bank. McCann, who joined UBS in 2009 to head up the firm’s wealth management arm in the Americas, assumed his new role in addition to his current one.

Mariner Wealth Advisors, the Kansas-based wealth management firm, hired Brian O'Regan to lead its nationwide growth efforts. O'Regan joined from Fidelity Investments and brings over two decades of industry experience to his new role. His hiring was the latest in a series of initiatives to expand the wealth management network of Mariner, which began early last year with the takeover of CBIZ Wealth Management's advisory unit.

Lenox Wealth Management, the Cincinnati-based wealth manager, appointed Jay Hummel as president. Hummel was previously the chief financial officer at the firm and in his new role assumes the day-to-day responsibilities for the management of Lenox Wealth. Prior to Lenox, Hummel worked for Deloitte & Touche and Ward Financial Group. John Lame, the company's founder, remains as chairman and chief executive.

Enterprise Bank & Trust, a subsidiary of Nasdaq-listed Enterprise Financial Services, appointed Ann McCartney as a senior vice president of private banking in its North Scottsdale, AZ office. McCartney was latterly a principal of a commercial mortgage company, which was sold to GMAC in 1999.


Bank of Singapore's chief operating officer and chief financial officer stepped down from their roles, amid a wider shake-up at the OCBC Bank subsidiary. Starting February 2012, current global chief operating officer Daniel Teo will go on a sabbatical after which he will assume a consultancy role with the company. Patrick Goh, who joined the firm in November from OCBC Bank, will become managing director and global chief operating officer. Ambrose Law, the global chief financial officer, has opted for early retirement and will be replaced by Ho So Woon. Ho moved into the company in October from Bank Sarasin-Rabo (Asia). Meanwhile the risk and compliance functions are being split to increase efficiency. Lee Han Chwee was appointed managing director and global head of compliance. Lee joined the company in November from Fortis Bank Singapore, where he served as regional head of compliance private banking, Asia. Leander Jansen retains his current role as managing director and global chief risk officer heading the credit and market risk and operational risk management functions. 

London-based investment manager Kames Capital opened an office in Hong Kong and named James Cooper from Liminal Image as head of business development for Asia. He reports to Martin Harris, head of distribution.

Barclays Wealth recruited senior ex-HSBC duo Carol Chen and Michelle Ho for its Greater China wealth management team. Chen moved from UBS in Singapore to become market head for Greater China, while Ho joined from HSBC Private Bank to become senior banker for Greater China. The announcement was concurrent with Januar Tjandra's official assumption of his new role as head of Greater China in 5 December. 

Swiss private bank Pictet & Cie hired veteran banker Anuj Khanna from Credit Suisse to become regional chief operating officer of private banking in Asia-Pacific. He begins on his new post in 9 January 2012 and will be based in Singapore.

AXA Investment Managers relocated Herve Lievore, its senior economist for Asia from the UK to Hong Kong as a sign of its commitment to the Asia-Pacific region. Lievore continues to report to Eric Chaney, AXA Group chief economist and AXA IM head of research.

Two senior executives from UBS' high net worth Philippines business left to take up new roles at archrival Credit Suisse. Angela Bow, the former country head, was appointed managing director and market leader for Credit Suisse's private banking unit, based in Hong Kong, while Albert became managing director and team leader for the Philipppines, also based in Hong Kong. Ma reports to Bow and begins on his new role in 18 January. 

UBS bolstered its Hong Kong wealth management team with the appointment of Valerie Chou as head of client coverage for the global family office business. Chou joined from the wealth division of Morgan Stanley. Also appointed was Linda Kwo, who assumed the role of country team head for one of the Hong Kong country teams on 1 December. Kwo previously worked for Deutsche Bank and Standard Chartered.

Rolf Aeberli, Credit Suisse's former chief financial officer, returned after 19 years as chief operating officer of Asia-Pacific private banking. Aeberli is based in Singapore. He reports to Francesco de Ferrari, the recently-appointed deputy head of private banking Asia-Pacific, who assumed his new post on 1 January 2012. Aeberli replaced Anuj Khanna, who left in August to join Pictet. 

French bank BNP Paribas named a trio of senior executives for its Asian wealth business. Andy Chai assumed the newly-created role of head of Hong Kong market, Marie-Christine Cormier joined as head of credit for Asia-Pacific, while Gerry Xie took the post of head of wealth management China onshore market. Chai used to work for the likes of HSBC and China International Capital, while Xie used to be the head of onshore private banking at Credit Suisse China. Cormier has been with BNP for the past 30 years. 

Zurich-based private bank Julius Baer appointed Luigi Vignola as regional head Asia for the markets and custody division. He took up his new post on 1 January and replaced Gerard Berclaz who has returned to Switzerland to assume another senior position within the division. 

Skandia Investment Group, the investment management arm of the UK's Old Mutual Group, named Paco Lee as head of marketing for Asia. Lee has held senior positions at SHK Fund Management, Threadneedle Asset Management, American Express Bank, National Australia Bank and Pegasus Fund Managers.

JBWere, the Australia and New Zealand wealth manager, appointed Tom Alexy as chief executive of New Zealand. Alexy most recently served as director, head of Asia-Pacific investment consulting at Credit Suisse.

AMP Capital Investors announced it would merge its manager research team with that of ipac Investment Services as part of restructuring efforts that follow AMP's merger with AXA Asia-Pacific. The creation of an integrated research division is in line with transitional efforts springing from the recently completed merger transaction with AMP which in October this year prompted a review of asset consulting services by multi-manager research teams.

Fidelity Worldwide Investment, the UK financial services organisation, named Bruno Lee as regional head of retail for Asia ex-Japan. The appointment marks a return to the company for Lee, who had worked at Fidelity's Taiwan office until 2003 within the retail sales, operations and wholesale units.

Barclays Wealth, the wealth management division of Barclays, named Wellian Wiranto as Asia economist with effect from 19 December 2011. Wiranto was previously as Asian economist of global research at HSBC Bank in Singapore, where he was responsible for the bank's major ASEAN economies, as well as research ideas on China and India.

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