People Moves

Executive Moves - July 2010

4 August 2010

Executive Moves - July 2010

July was a busy month for hiring and movement in the wealth management industry, with scarcely any sign of slowdown ahead of the holiday lull.


Mark Atherton left the Birmingham branch of Rathbone Brothers, the UK based private wealth and investment management firm.

John Lamb Partnership, the London-based IFA, named Campbell Edgar as head of private clients, a role in which he will oversee an eight-strong team of financial planners. He joins the firm from Andersen Charnley, where up until April of this year he served as consultant director within its City division.

Nick Tucker, managing director of Merrill Lynch's global private client group and market leader for the UK & Ireland, left the firm to take some time out of the industry.

Royal Bank of Canada’s wealth management arm created a new division, Private Client Wealth Management, British Isles, appointing Philip Harris as its head.

As part of his new role, Harris, who was latterly head of UK Domestic, is charged with growing the firm’s platform by recruiting teams covering Eastern Europe and the Middle East. He reports to Paul Patterson, head of RBC Wealth Management, British Isles.

The Association of Investment Companies elected Sarah Bates as its new chairman, succeeding Carol Ferguson from 24 January 2011. During her career Bates has been an analyst, fund manager, head of UK equities, joint chief investment officer and head of investment trusts, most notably at Invesco, which she left in 2003.

Cazenove Capital, the London-based investment manager, bolstered its investment funds business with the appointment of John Warren, a small and mid-cap sell side specialist, as a fund manager on its UK equity team. Warren was latterly director of of UK mid- and small-cap sales at UBS, having previously worked at Investec and Williams de Broë.

Newton, a UK-based subsidiary of BNY Mellon Asset Management, added investment manager Terry Coles to its global equities team. Coles joins Newton from F&C Asset Management’s global equities team.

Kedge Capital, the Jersey-based multi-family office, appointed Jonathan Little to build a global asset management business as chief executive. Little was latterly acting co-head of BNY Mellon Asset Management.

The equities brokerage Olivetree Securities appointed James Netherthorpe as its new chief operating officer and head of distribution. Netherthorpe will join the management team and be responsible for shaping the firm’s strategic direction and furthering the ongoing expansion of its secondary business.

New York-listed BNY Mellon appointed Mitchell Harris as the sole interim head for its asset management business following the resignation of Jon Little. Harris takes on the interim leadership role in addition to his position as chairman of the asset management business’ fixed income, cash and currency group.

Brewin Dolphin appointed Henry Algeo to its board as an executive director. Algeo initially joined Brewin Dolphin in February 2005 as head of its then newly-launched Belfast office.

The UK-based financial advisory firm Bestinvest appointed Donald Reid as its new chief operating officer. Reid was most recently head of operations at UBS Wealth Management; prior to this he was operations and finance director at Barclays Stockbrokers.

Nomura, the Japanese financial services group, appointed Guy Cornelius and Raffaele Ricci as its new co-heads of fixed income sales for EMEA.

UK insurance and investment house Legal and General appointed Andrea Blance as group chief risk officer.

WH Ireland, the UK-listed wealth management and investment firm, appointed Paul Compton as its new chief executive. He will assume the post in September this year, replacing Richard Ford, who is leaving at the end of August.

PIMCO, the California-headquartered investment manager, recruited Maria Gordon from Goldman Sachs Asset Management to lead its emerging markets equity team in London. Gordon takes up the role of executive vice president and emerging market equity portfolio manager at PIMCO in October.

Butterfield Private Bank (UK) saw the departure of managing director George Bogucki after three and a half years. Raymond Sykes, director and head of private banking, took over Bogucki’s responsibilities on an interim basis.

JP Morgan Asset Management said is to create a single, integrated European credit research team - covering both investment grade and high yield credits - which will be led by Peter Aspbury, the erstwhile head of high yield research at European Credit Management. Prior to his appointment as head of European credit research for JP Morgan Asset Management, Aspbury had spent eight years with ECM.

Aviva Investors, the asset management division of the insurer Aviva, overhauled its UK funds business sales team. Jeremy Leadsom was named as sales director. Second among the changes is Simon Clark’s appointment as head of the wealth management sales team. Thirdly, Malcolm MacKenzie is to assume leadership of the strategic alliances sales team. Finally, David Robson was named head of the Aviva Life distribution sales team.

Tenet Group, the UK advisor support group, appointed Mike O’Brien as managing director for its TenetConnect and TenetSelect brands. O’Brien first joined the group in January as Retail Distribution Review programme director.

Mirabaud Investment Management, the fund management division of the Geneva-based private bank Mirabaud, promoted David Kneale to the newly-created post of head of the UK equities team. Kneale, who was previously a fund manager, will assume his new role at the start of next year, upon which he will report to Philip Watson, Mirabaud Investment Management’s chief investment officer.

Scottish Windows Investment Partnership appointed Jeremy Charles as a new investment director. Prior to joining SWIP, Charles worked at Aviva UK Life, where he served as a senior portfolio manager.

Affiliated Managers Group, the Massachusetts-headquartered asset management firm, bolstered its London team with the appointment of Jenny Yoe as part of its continued expansion plans. In her new role Yoe will focus on new business development, reporting to AMG’s UK-based managing directors, Gordon Hogarth and David Waite. Yoe formerly worked at Goodhart Partners, and prior to that Investec Asset Management.

UK private bank Kleinwort Benson appointed Mark Bright as managing director in Guernsey. In his former career Bright was chief executive/country manager of Ansbacher Group’s Channel Islands business.

Matrix Group appointed chief executive Malcolm Le May to its board. Le May has been CEO of Matrix since December of last year.

UBS Wealth Management appointed Trevor Foster, latterly of Kaupthing Singer & Friedlander, as regional board member for the Midlands region. Foster will join the firm’s Birmingham office, where he will work closely with Phillip Wood, regional head for the Midlands.

Quilter appointed Keith Edwards as a senior investment manager at its Salisbury office. Edwards joins from Church House Investments, where he was a director.

Barclays Wealth appointed six new investment advisors to support its UK and Ireland and International EMEA private bankers.

The new appointments include George King and Irina Marty, who both join as directors. King previously spent ten years at AllianceBernstein in the US in a position similar to his new one; he was subsequently based in London helping with establishing the firm's private client business. Marty joins from Fortis Bank.

Additionally, Su Vohrah, Phil Attreed, and Amin Hashemi have been appointed as vice presidents. Vohrah joins from UBS, having previously been with Citi Private Bank. Attreed and Hashemi are internal hires. 

Finally, Ben Meyer joins from Rothschild Bank, were he worked as an equity research analyst for the private bank.

Former Standard Chartered private banker Vaibhav Sharma is joining Citi Private Bank as a director on the UK ultra high net worth team, reporting to David Poole. In his former role Sharma was a director of the UK non-resident Indian private banking team. Previously, he worked for ICICI Bank in the UK.

The Guernsey-headquartered international financial firm Carey Group appointed Jim Gilligan to the role of managing director at Carey Trustees. Prior to this, Gilligan worked for Kleinwort Benson as head of the international wealth management team and before that as a director of its trust company.

Carey Olsen, the law firm based in the Channel Islands, promoted Robert Milner and Simon Marks to the status of partner in the Jersey corporate and finance practice area.

Ashcourt Rowan, the UK-based wealth management firm which is part of Syndicate Asset Management, appointed Martyn Houghton to the newly-created role of intermediary relationship manager at its Manchester office. Houghton joins from AXA Winterthur.

Brewin Dolphin, the UK-based wealth management firm, saw the departure of Colin Wickens, head of the firm’s Llandudno office in the north of Wales, and Matthew Gilman, its divisional director.

The London-based asset manager Threadneedle appointed Jim Cielinski as head of its fixed income desk. The appointment will be effective from October this year.

Deutsche Bank Private Wealth Management hired Trang Chu as managing director, head of capital markets, within its global investment solutions group. Trang, based in London, will oversee all flow products globally; these include equities, fixed income, credit, FX and structured products. She joins from Merrill Lynch International, where she was head of capital markets, Europe.

Guillaume Rambourg, a senior investment analyst on the European large cap team at London-headquartered asset manager Gartmore, is leaving the firm to focus on an ongoing investigation by the Financial Services Authority, the UK regulator.

Perspective Financial Group, the UK IFA consolidator, appointed Andrew Aldridge to the newly-created role of marketing manager.

Rathbone Investment Management, the UK-based discretionary investment manager, added 16 new staff from Bank of Scotland's Portfolio Management Service to its Edinburgh office.

Mirabaud Investment Management hired Alex Illingworth to join its new global equities team. Illingworth’s career includes roles at C Hoare & Co, UBS, Rothschild Asset Management and Insight Investment Management.

Quilter, the UK investment manager which is part of Morgan Stanley Smith Barney, appointed Philip Brown as a consultant at its Liverpool office, charged with developing client relationships in North Wales. Brown previously worked at Brewin Dolphin in North Wales for ten years.

Barclays Wealth appointed Stefanie Drews to the newly-created position of head of ultra high net worth, UK and EMEA. Drews joins the firm from Morgan Stanley Wealth Management.

City law firm Speechly Bircham added Dominic Lawrance, Aoife Walsh, Sangna Chauhan, and Rebecca Barr to its private client division. Prior to Speechly Bircham, Lawrance was a senior assistant at Macfarlanes and worked there for ten years. Walsh joins from Grant Thornton, where he served as the director of capital taxes. Chauhan joins the division with experience in advising a mix of UK and international clients on tax, trust, and succession planning. Barr joins the firm from TWM, where she specialised in tax, probate, wills, trusts, and court protection work.

Frontier Capital Management, the UK investment management house, made a number of changes to its senior staff, with Colin Hodges taking up the role of chief executive, having previously been chief operating officer. Under other moves, Michael Azlen, who founded the company in 2004 and who was previously CEO, becomes executive chairman. Marc Davies has been promoted to head of investments. Davies will continue as portfolio manager on Frontier Capital’s range of multi-asset funds.

Threadneedle said Mark Burgess will take up the role of chief investment officer next year, while Sarah Arkle, the current CIO, is to retire and become vice chairman of the company. Burgess joins from Legal and General Investment Management, where he was managing director, head of equities. Threadneedle also appointed Dominik Kremer as its new head of European distribution – a German-based role in which reports to Campbell Fleming, the firm’s global head of distribution. Kremer joins from Pioneer Investments.

HSBC Private Bank hired Simon Gamse, Jonathan Reed, and Paul Avant as associate directors to its high net worth team. Gamse previously worked at Barclays Wealth and more recently in the London operations of an overseas bank. After recently being appointed to the private clients team in Jersey, Avant returns to London to join the high net worth team. Avant has over ten years of experience with firms such as Barclays Wealth and Schroders.

SC Davies & Co appointed Richard Hoskins to the newly-created role of head of business development, reporting to Simon Davies, the firm’s founder and chief executive. Hoskins was formerly business development executive at Oxford Capital.

Brett Williams, the chief executive officer of Cofunds, the UK-based independent investment platform, stepped down from his post; chairman Charlie Eppinger will take up the position of CEO on an interim basis.

Additionally, Tony Lord - latterly a sales manager at Skandia - was appointed regional account manager for the Midlands. David Groves, formerly of Scottish Widows, also joined to focus on the eastern region, and Justin Cooper was recruited from Zurich to cover the south east region.

Rathbone Brothers hired the former head of Rowan Dartington’s private clients arm to bolster its Exeter office. Sarah Tobey, who was also a board director, had been with Rowan Dartington - a Bristol-based brokerage - close to 20 years. Tobey will report to senior regional director Tim Bolton-Carter in her new role.

William Calvert, the head of emerging markets at AXA Framlington, resigned from the investment management company along with two of his team members. Calvert, who managed the AXA Framlington Emerging Markets Fund and the AXA World Funds Framlington Emerging Markets Fund, left the firm with Ming Kemp and Neil Denman, who supported him in his portfolio management duties.

Laurence Keenan retired as chairman of the Isle of Man board of Barclays Wealth after 16 years as a non-executive director and 23 years of working with the firm.

Martin Currie, the UK-based investment manager, added John Long to its intermediary sales team in a move to ramp up its intermediary business in London. Long will report to Alan Burnett, head of UK intermediary sales in his new role. He was latterly head of UK intermediary sales at Stenham Group.

Scottish Windows Investment Partnership, the asset manager which is owned by the Lloyds Banking Group, appointed Ramsay Urquhart as finance director. Urquhart joins SWIP from Barclays Wealth.

Penson Financial Services, the London based clearing and settlements firm which is part of Penson Worldwide, the Texas-headquartered financial services group, recruited Tyrone Conybear from Butterfield Private Bank to be its new director of operations.

Vestra Wealth, the London-based wealth manager, hired a further two senior employees from UBS. Edward Campbell-Harris and James Wenyon, both formerly directors and senior client advisors at UBS, are joining Vestra as investment managers. Campbell-Harris was at UBS for seven years and managed and advised resident domiciled and non-domiciled clients, charities, SIPPs and trusts. Wenyon, meanwhile, was at UBS for eight years.

Jupiter Asset Management hired an emerging markets funds specialist and will soon launch a fund for her to run. Kathryn Langridge will join Jupiter’s emerging markets funds desk in September from Lloyd George Asset Management.

The Financial Services Authority, the UK regulator, saw the departure of Mark Norris, chief operating officer and managing director.

Withers promoted four lawyers to its partnership, bringing its total number of partners up to 109. Three of the appointments are London-based, where Madalina Dumitrescu and Andrew Wass both become partners in the litigation practice group and Claire Blakemore becomes a partner in the London family team. In New Haven, Edward Vergara has been promoted to partner in the wealth planning group.

Barclays Wealth appointed Rick Denton as head of clients and markets for its Barclays Wealth Advisory unit, replacing Rodney Allen, who left the post to pursue an academic career.

Mark Allpress, UK sales head at Old Mutual Asset Managers, departed the firm following being made redundant.

City Asset Management hired Mike Fitzhugh as an investment director. Fitzhugh latterly worked for Thornhill Investment Management as a senior investment director and an executive director of the Thornhill Group.

London-based RWC Partners appointed Peter Allwright and Stuart Frost to the boutique asset management group to manage its absolute return and currency funds. 

Veritas Asset Management, the UK-based investment manager, appointed Ross Ciesla as senior private client director of its private client business in the UK. Ciesla will join Veritas later in the year from Newton Investment Management.

Asia Pacific

Singapore-based DBS Bank appointed ex-Standard Chartered chief investment strategist Lim Say Boon as chief investment officer for the bank’s wealth management business.

UBS nominated Joseph Yam, former chief executive of the Hong Kong Monetary Authority, for election to its board at the bank's AGM in April 2011.

Pimco, the fixed income investment management giant, hired Ki Myung Hong as a managing director and head of the Asia Pacific region, based in Hong Kong. Hong most recently held senior positions for the region with Bank of America Merrill Lynch, including regional vice chairman and president of Asia Pacific. Previously, he was Asia co-head of credit and rates with JP Morgan in Hong Kong, and held senior positions with Bankers Trust .

Union Bancaire Privée appointed Michel Longhini, the former head of BNP Paribas Wealth Management International, as managing director of its private banking arm. He will be based in Geneva with a focus on developing certain markets, including Asia.

Société Générale Private Banking appointed Hsiao-Yun Lee as chief executive of SGPB, the wealth management arm of SocGen which has been present in China since 2007. She has been with SGPB since 1997.

Banking veteran Peter Flavel moved from the role of global head of Standard Chartered Global Private Bank to join JP Morgan’s private wealth franchise as Asia chief executive officer of Private Wealth Management.

Barclays Wealth added six senior bankers to its Singapore wealth management arm. Soh Chye Guan, previously the head of the senior client partner team for HSBC Private Bank in Singapore, joins the company as market head of Singapore and Malaysia. Errie Maksum, formerly team leader at Credit Suisse in Indonesia, was named market head for Indonesia. Rachel Loong, also from Credit Suisse, will lead the Singapore market, while Sisyanti Jonosisworo, from PTZ ANZ Bank Panin, will take charge of Indonesia. Stepping in both as vice presidents of the South Asia teams are Nilesh Thakkar and Arunabh Banerjee, from UBS.

London-listed hedge funds firm RAB Capital appointed David Seex as the chief executive officer of RAB Capital (Asia). Seex, formerly a managing director and head of Citigroup alternative investments in Asia, will oversee RAB’s Hong Kong office.

Europe and International

The Russian-based executive recruitment firm Antal Russia opened a new office in Almaty, Kazakhstan and appointed Natalia Kurkchi as country manager. Kulichki joined the firm in 2003 and has been responsible for its CIS operations since 2009, before which she focused on recruitment in industries such as investment banking, commercial banking, consulting and finance.

Aegon, the Netherlands-based life insurance, pension and investment company, appointed Sarah Russell as chief executive of its global asset management business. Russell, latterly chief executive officer of ABN Amro Asset Management, replaces Erik van Houwelingen, who has left Aegon to pursue other career opportunities.

Standard Bank Offshore, a subsidiary of Johannesburg-listed Standard Bank Group, appointed Simon Buckerfield to the role of business development manager with a focus on Latin America and Africa. Buckerfield joins the firm from HSBC Dubai, where he was on a three-year secondment from HSBC Isle of Man, and managed relationships with high net worth clients in the region.

Moscow-based Renaissance Asset Managers hired Dmitry Mikhailov, previously portfolio manager for the firm’s Russian Small and Mid Cap Fund, as a fund manager.

MLP, the German-headquartered investment advisor to academics, is likely to look for a new chief financial officer in the wake of the news that Andreas Dittmar is under investigation pertaining to his competency by the Federal Financial Supervisory Authority.

VTB Capital appointed Vladimir Potapov as head of portfolio management within VTB Asset Management. Prior to joining VTB Capital, Potapov spent over seven years at Troika Dialog. The firm also appointed Andreas Boesenberg as deputy head of private equity and special situations, and Iain Grosvenor as a consultant. Boesenberg joins from the German alternative investment firm Wermuth Asset Management and Grosvenor joins the London office from Credit Suisse.

Dr Seibold Capital, the German independent wealth manager, hired Claus Sendelbach, who was with Vontobel from 2006, as a distribution specialist and fund manager. Sendelbach’s career also includes senior positions at Credit Suisse Asset Management, Commerzbank and DekaBank.

JP Morgan appointed Luc Bachy as a senior capital advisor for its private banking team in France. Prior to joining JP Morgan, Bachy held a number of positions at HSBC Investment Banking, most recently as a director in its strategic financing advisory department.

Bankhaus Lampe saw the retirement of personally liable partner and veteran banker Dr Karl-Heinz Franke. He was replaced by Ulrich Cosse, who has more than 30 years of banking experience and previously worked for Bankhaus Neelmeyer in Bremen, Germany.

SocGen Securities Services appointed Olivier Renault to replace Michel Becker as country manager for Luxembourg. Previously Renault was deputy head of SGSS in Milan.

The head of wealth management at BNP Paribas, François Debiesse, retired from the company and was replaced by Jacques d'Estais, who will retain his responsibilities as head of Investment Solutions. BNP enacted a five zone geographical re-structuring into Asia Pacific Euro Domestic Markets and New Domestic Markets, International Europe (including the Middle East and Latin America), and Luxembourg, zones which were assigned, respectively, to Mignonne Cheng, Marie-Claire Capobianco (for all domestic markets), Pascal Boris and Patrice Crochet.

Julius Baer appointed Heiko Schlag as its new head of private banking in Germany and as a member of its management board, effective 1 January 2011. Schlag spent the past 19 years working at HypoVereinsbank serving private and corporate clients.

Credit Suisse bolstered its exchange-traded funds team in Germany and Austria by hiring Levente Kulcsar as a director and head of ETFs, and Annabelle Wegner as ETF specialist head for institutional clients in the region. Previously Kulcsar worked for Commerzbank as head of institutional sales for Comstage ETF; Wegner joined Credit Suisse in May as a director, having previously worked in structured products sales at RBS/ABN Amro, also in Germany and Austria.

Amundi appointed Philippe Ithurbide as global head of research strategy and analysis. He previously worked for Caisse de Dépôt et Placement du Québec before which he was head of research in currency and fixed income at SocGen.

Barclays Wealth appointed Cem Pensoy, previously of UBP, as director of its International Private Bank, EMEA and as a senior banker and head of the London Turkey team.


Reyl & Cie, the Geneva-headquartered private banking arm of the Reyl Group, appointed Louay Al-Doory as head of global business development to further drive its growth. Al-Doory joined the firm from UBS Wealth Management, where he was global head of investment funds.

Christian Gast, who had headed the exchange traded fund business at UBS for some ten years, was released from his position and will leave the firm at the end of September 2010. Until a replacement is found Martin Thommen, head of wholesale business EMEA, will take up Gast’s role.

Credit Suisse will open a new IT Development Centre for which it will recruit up to 250 staff between now and the end of 2011. Hans Martin Graf, who joined Credit Suisse in 2006 as head of business management IT operations Switzerland, will manage the IT Development Center, based in the Quartier de l'Innovation at the Ecole Polytechnique Fédérale de Lausanne (EPFL).

RBS Coutts appointed Dr Denise Kenyon-Rouvinez as the new head of international family business and philanthropy for the wealth management division of the Royal Bank of Scotland Group. Prior to joining RBS, Rouvinez served as a senior associate of the Family Business Consulting Group and has written several books and articles on family business, succession, family business governance, and the role of women in family businesses.

RBC Dexia appointed Marco Siero as the new managing director of its Switzerland office. Siero has been with RBC Dexia since 2008, with his most recent role being that of director of relationship management in Luxembourg, focusing on large multi-market clients. Prior to joining RBC Dexia he held several senior positions within Citigroup’s global transaction services arm.

Galtere, the New York-based alternative investment firm, hired Werner Schuenemann to manage its newly-launched European arm, which is based in Zug, Switzerland. Schuenemann's prior career includes sales and distribution posts at several alternatives firms, with Swiss Alpha and Pamplona Capital being his most recent employers. He has also served in senior sales and directorial roles at the likes of JP Morgan, Morgan Stanley and UBS.

UBS appointed Emmanuel Debons as head of ultra high net worth clients in Romandy, the French-speaking Western part of Switzerland. Hatecke joined UBS in February 2010 from Credit Suisse, after the departure of Alois Müller as head of UBS’s UHNW business in Switzerland.

Wealth manager Marcuard Heritage hired a former managing director in UBS’s wealth management division, Dr Hansjoerg Borutta, as its new chief investment officer. Prior to joining UBS Borutta was with Oxford Economic Forecasting in the UK and Basel Economics in Switzerland.

Middle East

Citibank appointed banking veteran Mayank Malik as chief executive officer of Citibank Jordan. Mayank has around 25 years of experience within the company and was most recently the CEO of Citibank Bahrain. In his new role Mayank takes over from Ziyad Akrouk, who was named CEO of Citibank Kuwait.

SocGen appointed Gonzague de Cerval as the head of its representative office in Abu Dhabi. Cerval first joined the private bank in 2007 in the Middle East sector serving as a senior private banker. He began his career at BNP Paribas Private Bank in Luxembourg in 2002 after which he joined Société Générale Bank & Trust in Luxembourg as a private banker.

North and Latin America

Former HBK Capital Management chairman and managing director Laurence Lebowitz joined The Investment Fund for Foundations as its new president and chief investment officer, succeeding David Salem, the firm's founding president and CIO.

Rockefeller Financial hired Reuben Jeffery, a top US diplomat, to be its new chief executive, taking up the post on 7 September.

UBS Wealth Management Americas made four appointments for its office in Dallas. The new team, which includes Fyi-Trevor Fahr, David Folmnsbee, Andrew Noone and Ryan Anderson, joined from The Ayco Company, which is part of Goldman Sachs.

Butterfield Fulcrum, the Bermuda-based fund administrator, appointed Michael Clark as its new chief executive. Clark joined the firm from Fidelity Investments, where he was most recently president of the institutional products group.

Appleby, the offshore law firm, expanded its Cayman Islands-based funds and investment services team with the appointment of Christian Victory as an associate. Victory was latterly with Appleby’s British Virgin Islands office.

Union Bancaire Privée appointed Larry Morgenthal as chief executive of UBP Asset Management, its US-based fund of funds business, and chief investment officer of alternatives. Morgenthal was formerly CIO and later CEO of Ivy Asset Management.

Bank of America Merrill Lynch appointed David Oman as chief risk officer for EMEA, starting from the beginning of October. He will be based in London and report to Marisa Harney, head of International Risk Strategy Development. Oman joins the firm from UBS, where he most recently served as European chief risk officer and global head of counterparty credit risk.

Société Générale Private Banking strengthened its team dedicated to serving wealthy Latin American clients with the appointment of William Birkbeck as deputy to the global market manager for this client segment, a newly-created role.

Birkbeck, who joined the SocGen group in 1995, moved over from his role as principal director and head of the Americas and Asia group at SocGen Corporate and Investment Banking.

HSBC Private Bank appointed ex-Deutsche Bank wealth management senior executive Mark Pittsey as a managing director and regional manager for the Bay Area and Northwest region of the US.

Silver Bridge, the US wealth advisory firm affiliated with law firm Wilmer Cutler Pickering Hale and Dorr, hired Kevin Fretz as a client advisor in the firm's Mid-Atlantic office. Fretz joined the firm from Wilmington Family Office.

Wilshire Funds Management appointed financial services industry veteran Jamie Ohl as chief operating officer. Ohl was most recently a senior vice president and director for Hartford Financial Services Group's retirement plans unit.

HSBC Finance Corporation appointed Patrick Burke as chief executive officer. Burke replaced Niall Booker, who was named CEO of HSBC North America Holdings. Prior to the appointment Burke served as senior executive vice president and CEO of card and retail services for the company.

Raymond James, the Canadian business of North American investment dealer Raymond James Financial, hired Jacob Leibel as vice president and head of its Private Investment Management Group, the firm's discretionary portfolio management platform. Leibel joined the company from RBC Dominium Securities, where he co-managed the advisory managed discretionary program.

Citi Private Bank hired Martin Rosa as a director and private banker for its Chicago office. Rosa joined the company from HSBC Private Bank, where he was a senior vice president focused on ultra high net worth families.

The wealth management group of Minneapolis-headquartered US Bank appointed Michael Cole, formerly with Wells Fargo, as president of its ultra high net worth business and promoted Michael Boardman to president of its Private Client Reserve group. Prior to the promotion, Boardman was central region president for the Private Client Reserve.

Securities America, the investment advisory firm, named Jim Nagengast as chief executive officer. Nagengast joined the company in 1994 as vice president for finance and then moved on to become chief financial officer in 1997, information services head in 2000 and chief operating officer in 2004. His most recent role was as president, which he assumed in 2008.

Citi Private Bank appointed Gretta Rusanow as a New York-based senior client advisor within its law firm unit. Rusanow was latterly the founder and chief executive of UK-based Curve Consulting.

BNY Mellon appointed Juan Carlos Morales as president of BNY Mellon Mexico and general manager of its corporate trust business in the country. Morales, who joined BNY Mellon in 2004, was most recently the chief financial officer of BNY Mellon Wealth Management.

LifeYield Advisor Solutions Group, part of the Boston, Massachusetts-based technology services group LifeYield, appointed Mike Mason as a vice president with its advisor solutions team. Mason most recently worked at FundQuest, an asset management technology company.

Korn/Ferry International hired Paul Legvold as senior client partner and head of its global asset management practice. Legvold was previously the head of the North American asset management practice at Heidrick & Struggles.

Morgan Stanley Smith Barney appointed Douglas Ketterer as the new head of Morgan Stanley Private Wealth Management and James Tracy as chief operating officer of distribution and development for its US wealth management arm. Ketterer was previously the COO for Morgan Stanley Smith Barney's wealth management division, while Tracy previously headed Smith Barney's consulting group, with a focus on money management services and investment consulting.

RBC Wealth Management hired Kevin Williams – formerly of Morgan Stanley Smith Barney – as senior vice president and branch director for its Richmond, Virginia office.

Citi Private Bank appointed Adam Smith to its Beverly Hills office as senior vice president and ultra high net worth private banker. Prior to joining the bank, Smith built a career in Southern California, working with ultra high net worth clients in the entertainment and sports industries.

Veteran investment professional Bart Zitnitsky joined First Republic Private Wealth Management in Los Angeles, having previously worked as senior vice president and senior portfolio manager at Northern Trust Bank.

Citi Private Bank hired Nancy Pellegrino as managing director and head of the Pacific Northwest. Pellegrino was most recently the regional president and head of the Pacific Northwest region for Bank of New York Mellon Wealth Management.

US Trust, an affiliate of the Global Wealth & Investment Management unit of Bank of America, appointed Rowland Bankes from RW Pressprich as Boston-based head of trading, and Stephen Doty – former national director of the Bank of New York Mellon – as its Northeast division investment executive.

Additionally, Southeast division executive Doug DiVirgilio appointed three senior vice presidents - Lawrence Greenberg, Nancy Golder and Bob Dunkin - as private client advisor, private client manager and private client consultant respectively for the Palm Beach branch. DiVirgilio also appointed Jesse Perrin as senior vice president and market sales director to the Boca Raton branch and Kimberly Bleach as senior vice president and private client manager to the Sarasota branch.

StellarOne Corporation, the US bank, appointed Michael Williams as director of wealth management for StellarOne Bank and, in conjunction, established a wealth management office in Richmond, Virginia.

Baird hired industry veteran William Welsh, formerly of Wells Fargo, to lead its San Francisco wealth management office.

Bank of America Merrill Lynch made Jean-Marie Deluermoz, one of its senior European managers, redundant as a result of a restructuring to its wealth management operations. Deluermoz was hired in 2007 to be director of emerging European markets within the EMEA wealth management team.

Convergent Wealth Advisors named Douglas Wolford as president of the firm. Prior to the appointment, Wolford ran his own management consultant firm, Wolford & Company, in the Washington, DC area, specializing in strategy and operations. Convergent was one of the firm’s clients.

BBVA Compass, the US-based financial services group, appointed John Jett as Austin-based wealth management regional executive for central Texas.

Citi Private Bank named Kurt Muller as director and investment counselor based in Short Hills, New Jersey. Muller was most recently a director at Merrill Lynch & Co's managed solutions group.

American International Group announced that Robert Miller will be taking over as chairman of the board of directors after the departure of Harvey Golub. Miller was a member of the board since 30 June 2009 and is chairman of MidOcean Partners.

GenSpring Family Offices added Seth Tobin as a family investment officer specializing in ultra high net worth clients. Tobin was previously a partner at Lakeview Investment Manager, where he built and maintained a global portfolio of hedge fund managers and was involved in the selection of investment activities.

Sprott, the Canada-based investment firm, hired industry veteran Peter Grosskopf as chief executive and member of its board of directors, effective from 7 September. Grosskopf was recently a president of Cormark Securities.

UBS Wealth Management Americas hired Thomas McLoughlin as head of municipal research, filling a vacant position. Before joining UBS, McLoughlin was chief executive of National Public Finance Guarantee, an indirect subsidiary of insurer MBIA.

BNY Mellon Wealth Management appointed James Fagan as regional sales manager for the New York Tri-State region covering metropolitan markets. Fagan joined the company from Alliance Bernstein, where he was a financial advisor.

Raymond James, the Canadian arm of North American financial services firm Raymond James Financial, appointed Bob Larose to its private client team. Most recently, Larose served as national sales manager at Canaccord Private Client Group.

Los Angeles-headquartered Bank of Manhattan appointed Shannon Millard as executive vice president and chief credit officer. Millard worked most recently as president of the retail banking division of First Federal Bank of California.

Knight Capital Group named Richard Herr as managing director and head of business development. Herr stepped in from Investment Technology Group, where he headed the strategic and business development unit.

Stacy Rush was appointed principal of Pathstone Family Office’s risk management group. Rush joined Pathstone's Atlanta office from Chubb Insurance, where she focused on the firm's Signature and VIP clients, developed new product education programs and managed agency relationships and business planning for independent agents and brokers.

JP Morgan appointed former senator and HUD Secretary Mel Martinez, to the post of chairman of Florida, Mexico, Central America and the Caribbean. Under the presidency of George W Bush, Martinez served as US Secretary of Housing and Urban Development for a period.

Florida-based JHS Capital Advisors said that Bruce Snell has joined its wealth management division as managing director, and will be given the job of hiring some of the thousands of advisors in the South Carolina region. Snell most recently worked at Carolina First Bank as director of brokerage, supervising a team of 26 advisors with more than $900 of assets under management.

Southwest Securities, part of US financial group SWS, reorganized its Pacific coast private client offices into three regions and promoted three investment executives to regional director positions.

David Frieden was promoted to executive vice president and regional director, Central Region, which includes the Beverly Hills and Las Vegas offices. Kevin Kott was promoted to executive vice president and regional director, Northern Region, which includes the San Francisco, Sacramento and Monterey offices. Michael Urman was promoted to executive vice president and regional director, Southern Region, which includes the San Diego and Rancho Bernardo offices.

JP Morgan Asset Management appointed George Gatch as chief executive of its investment management Americas unit. Gatch is the president and chief executive officer of JP Morgan Funds.

Oppenheimer & Co bolstered its Chicago brokerage business with the appointment of ex-UBS employee Douglas Damrow as assistant manager of its wealth management office.

Legg Mason chief financial officer CJ Daley left the company to take a new senior role at an unnamed private asset manager. The global asset management firm appointed Terrence Murphy, the chief operating officer of ClearBridge Advisors, to assume the post in the interim.

Fieldpoint Private Bank & Trust announced that Robert S Matthews is its new president and chief executive officer following a six-month deliberation process. Matthews, who previously oversaw Citigroup's Global Wealth Advisory Services unit, assumed his new role on 30 June. He took over from Kevin McCabe.

Samoset Capital Group appointed John Straus as the new head of its wealth management arm. Straus joined the company from UBS Wealth Management Americas, where he was head of the high net worth business.

H&R Block, the international tax service provider, named Alan Bennett as its new president and chief executive officer. Bennett took over from Russ Smyth, who resigned to accept a CEO position at a Chicago-based private firm. He joined H&R in 2007 and served as interim CEO from November 2007 to August 2008. After that he was elected to the board, where he served on both the audit and finance committees.

UBS Wealth Management Americas hired two advisors: David Winchell joined the company's Las Vegas branch from Merrill Lynch/Bank of America and Marvin Griffin joined UBS's Sugar Land, Texas office from Morgan Stanley Smith Barney. Winchell and Griffin previously oversaw $119 million and $102 million of client assets, respectively, as well as generated $1.2 million and $1 million in annual fees and commissions.

JP Morgan recruited Carlos Batlle as its head of wealth advisory for its Florida region, based in Miami. Before joining JP Morgan, Batlle was a partner with Squire Sanders and Dempsey, with a discrete focus on trust and estate planning in the US and abroad.

First Michigan Bank appointed Thomas FitzGibbon to the newly-created position of managing director, integration specialist with immediate effect. FitzGibbon was formerly the executive vice president of Chicago-based MB Financial Bank and was most recently a principal at BSI, a consulting firm that deals with charitable foundations and public entities.

Financial Information Network, the financial technology provider, appointed Omar Ebrahim as sales associate. Ebrahim previously worked as a relationship manager and financial services associate at Bear Stearns and Prudential, respectively.

BNY Mellon Asset Servicing formed a new entity that supports client needs in the banking, mutual fund and insurance sectors. Global Financial Institutions, the new arm, is led by Nadine Chakar, formerly the head of Europe, Middle East and Africa Asset Servicing. Steve Wynne, the former chief executive of PNC Global Investment Servicing, assumed the role of CEO of US Funds Services, while Nancy Wolcott, previously the president of PNC, heads US Funds Services. The other executive positions were assumed by Lou Maiuri as head of US Financial Institutions and Frank Froud as head of EMEA Asset Servicing.

American Portfolios, the New York-headquartered independent broker-dealer, named Joseph Gruber as president of national sales and marketing and also appointed him to the firm’s executive committee. Gruber was formerly president of FSC Securities and Advantage Capital (now known as Advisor Group).

Perella Weinberg Partners, the US financial services firm that provides corporate advisory and asset management services, hired Jeffrey Silverman as its new partner. Silverman was most recently a partner and director of investments at Tudor Investment Corp, where he was responsible for recruiting new portfolio manager groups and external investments.

Dallas investment management firm Highland Capital Management appointed Steven Delarosa as managing director. Delarosa joined the company from Western Asset Management Company.

Al Frank Asset Management, the independent asset advisor and boutique money manager, named Jeff Montgomery as chairman of the board. Montgomery was chief executive officer for the company from 2008. Prior to that, he served as CEO of Washington Square Securities, now ING Advisors, and CEO of NFP Securities. He replaced Joe Lahti, who remains a board member.

JP Morgan appointed Barry Sommers to lead an effort to boost the share of assets it holds for its mass affluent clients to more than five per cent via its Chase brand. Sommers, chief executive officer of JP Morgan Securities, became chief executive of retail affluent and investment services.

Citi Private Bank hired Mary Agnes Pan as a New York-based managing director and private banker for its ultra high net worth clients. Pan joined from HSBC where she was a managing director and senior private banker.

Capital Advisory Group bolstered its high net worth offering with the hire of Matthew Buckley as managing director, private client services. Most recently Buckley was the senior vice president at SunTrust Private Wealth Management.

The Hartford Financial Services Group named David Levenson as president of wealth management, succeeding John Walters. Levenson joined Hartford in 1995 from Fidelity Investments. He led the development of its mutual funds operations and also ran the retirement plans business before heading the retail products business.

Register for WealthBriefingAsia today

Gain access to regular and exclusive research on the global wealth management sector along with the opportunity to attend industry events such as exclusive invites to Breakfast Briefings and Summits in the major wealth management centres and industry leading awards programmes