People Moves

Executive Moves - October 2010

5 November 2010

Executive Moves - October 2010


Standard Life Wealth's Sandy Cross, head of the firm’s Edinburgh office, left the firm. Craig Joiner joined as senior portfolio manager. Cross originally joined Standard Life Wealth from HSBC Investments and had been in charge of the Edinburgh office since 2008.

Deutsche Bank Private Wealth Management bolstered its UK team with six new appointments. Taking up the role of head of international wealth planning for PWM UK was Isabelle Mulroy, who formerly spent 11 years with Coutts.

Second on the list of appointees was Andrew Wigman, who has been named head of client solutions/business development. He joins Deutsche from UBS Wealth Management. Nextwas Andrew Banks, who has been appointed deputy head of compliance. He most recently spent four years with Eden Financial. The final three joiners were Dominic Gamble, Anna Mitchell and Damien Crommie, all of whom have been appointed as relationship managers, Gamble to cover ultra high net worth clients.

Nick Tucker, who had been managing director of Merrill Lynch's global private client group and market leader for the UK and Ireland, joined UBS in London.

Laurent Crosnier was promoted to the position of chief executive of Amundi's London branch. He retained his title of chief investment officer, reporting to Pascal Blanqué, deputy CEO of Amundi in charge of the institutional investment division and CIO of the Amundi group.

HSBC’s private banking division appointed Anthony Hingley and Hicham Najem as directors of its investment advisory group, based in London and reporting to Bassem Snaije, the London head of the Middle East and North Africa team. Najem joined from Tactical Global Management, where he was a portfolio manager.

Gartmore hired Vincent Houtteville as an investment analyst in its emerging markets team, effective in early 2011. Houtteville joined from First State Investments where he was a global financials services analyst for seven years.

Rathbones Investment Management, the UK-based discretionary investment manager, hired Sarah Tobey as an investment director at its Exeter office. Tobey joins from Rowan Dartington, another UK-based investment manager.

Brewin Dolphin, the UK-based private client investment manager, appointed Matthew Butcher to its board. Butcher is head of research at the firm, having joined Brewing Dolphin in October 2004 as head of fund research for long-only funds and alternative investments.

The offshore law firm Ogier added to its legal and fiduciary services businesses with two non-executive directors. The first, Lesley MacDonagh, was a managing partner at the law firm Lovells for over a decade and has also held several non-executive director positions. The second appointee, John Eaton, was formerly chief operating officer for Barclays’ private client and international banking businesses.

Lord Browne, the former chief executive of BP, was appointed chairman of a newly-created advisory board at Stanhope Capital. The new business role for Lord Browne adds to other public and private advisory roles, which include his position as chair of the Tate (gallery) board of trustees.

Schroders appointed Philippe Lespinard as chief investment officer of fixed income. He will report to Karl Dasher, head of the firm’s fixed income business. Lespinard was latterly a partner and head of absolute return strategies at the London-based hedge fund firm Brevan Howard.

Standard Chartered Private Bank implemented structural changes to the way it segregates business regions, and Marianne Hay, head of EMEA, left the bank as part of the changes. Meanwhile, Stephen Richards Evans, regional head, North East Asia, becomes head of the West region – encompassing India, the Middle East, Africa, Europe and the Americas - and Rajesh Malkani, currently regional head, South East Asia, becomes head of the East region - comprising South East and North East Asia.

Hay was hired by the private bank last May, to head up its EMEA business. As part of the structural changes, Richards Evans relocated from Hong Kong to Dubai to take on his new role, while Malkani remains based in Singapore.

Killik Chartered Financial Planners appointed Sarah Lord as managing director. She replaced Malcolm Cuthbert, who resigned earlier this year. Lord joined Killik last year as a wealth planning director in Dubai. She is the founder of The Wealth Consultancy, a high net worth advisory business that she established in 2009.

Standish Mellon Asset Management, the London-based fixed income business owned by BNY Mellon Asset Management, appointed Tom Higgins as global macro strategist and Rebecca Braeu as macroeconomic analyst and portfolio manager for its global fixed income team. Higgins reports to David Leduc, the firm’s chief investment officer. He joined from Payden & Rygel, where he served as chief economist.

HSBC Private Bank appointed a new sales quality review team to assess the standard of sales advice given to clients. The team is led by David Woodriffe, reporting to Paul Smith, head of client relationship management. Woodriffe was head of risk and business assurance at Barclays Wealth. The rest of the team comprises Atiyah Zafar and Simon Hall, who were appointed from elsewhere within the HSBC group.

Merrill Lynch Wealth Management boosted its London-based Middle East team with the appointment of financial advisor Richard Anooshian. Anooshian, who focuses on both high and ultra high net worth Middle Eastern clients, joins from HSBC Private Bank.

AXA Wealth appointed Mark Jarvis as head of investment development, a newly-created role, as part of the firm’s implementation of its growth strategy for Architas Multi-Manager. Jarvis was latterly sales development manager for AXA Winterthur, a position he held for nine years. In his new role he reports to Frank Parsons, national sales director (South).

AXA Investment Managers appointed Julian Thompson and Jules Mort, who both recently departed from Threadneedle, as head of emerging markets and emerging markets specialist respectively.

South Africa’s Standard Bank appointed Russell Harte to the newly-created dual role of head of Jersey and chief executive of Standard Bank Jersey. Harte succeeds Ian Gibson, who has relinquished his role as chief executive of Standard Bank Jersey in order to return to London to run the banking group’s private client business. Harte relocated from Johannesburg to take up his new role; he had latterly been financial director at Liberty Holdings, the South African wealth management firm in which Standard Bank holds a majority stake.

Multi-family office Signia Wealth hired Jonathan Morris as an associate director in the risk division and Kirin Ohbi as head of legal. Morris joined from Aviva Investors, where he spent four and a half years in the firm's portfolio risk team.

The Glasgow-based boutique Saracen Fund Managers appointed Graham Campbell as its new CEO. Campbell co-founded the wealth management firm Edinburgh Partners with Sandy Nairn in 2003 and left the firm in December 2009.

Independent wealth manager Horizon Group brought Julie McClafferty back to Jersey as a trust director. She was a director at Horizon Trustees (Suisse) in Geneva.

Electra Private Equity, a UK-listed firm,appointed Kate Barker, former member of the Bank of England’s Monetary Policy Committee and senior advisor to Credit Suisse, as a non-executive director. Barker served as a member of the MPC until May this year.

The offshore law firm Appleby hired Simon Tait from its rival Walkers to become an associate at its Jersey office, after having added James Gaudin, also formerly of Walkers, as a partner in Jersey earlier this year. At Walkers Tait was an associate in the corporate, finance and banking team at the firm's Jersey operations.

The UK equities intermediary brokerage firm Olivetree Securities hired Ian Brenner to strengthen its distribution group. Brenner joins London-based Olivetree from the cash and derivatives broker MF Global.

Managing director Richard Downs left his post at OBSR, the UK-based investment funds research and consultancy firm which is now owned by Morningstar.

J O Hambro Investment Management appointed Jim Leng and Sir Brian Williamson as non-executive directors. Leng and Sir Brian will work with JOHIM’s management team and advise on business strategy and corporate governance in their new roles.

Matrix Group, the privately owned UK financial services business, appointed Simon Elvidge as group head of compliance and assurance, joining from Numis Securities.

At Numis, Elvidge was head of compliance and managed the compliance teams in both the UK and US.

US investment giant BlackRock hired Ian Winship, latterly of the UK hedge fund firm Brevan Howard, as a senior portfolio manager in its sterling fundamental fixed income team.

Standard Life Wealth, the Edinburgh-headquartered discretionary investment manager, promoted Eddy Reynolds to be its new chief investment officer. Reynolds first joined the firm in May this year as head of investments, having previously been head of investments at Lloyds TSB Private Banking for three years. Reynolds succeeds Brian Fleming, who is returning to his former post of head of multi-asset risk strategy within Standard Life Investments.

Baillie Gifford, the Edinburgh-based investment manager, appointed Gerald Smith as its new chief investment officer, effective from April 2011. Smith, who is currently deputy CIO and chairman of the emerging markets investment policy committee, first joined Baillie Gifford in 1987 and has been a partner since 1998.

Morgan Stanley appointed Shelley Hanan as chief executive of its private bank, a role which she has undertaken on an acting basis. It hired Citigroup veteran Mark Connolly for the newly-created position of head of products, also for the private bank.

Aberdeen Asset Management appointed Graham Duce and Aidan Kearney as co-heads of multi-manager investments. Duce and Kearney joined Aberdeen in 2009 following the acquisition of asset management businesses from Credit Suisse Asset Management.

DWF, the UK law firm, recruited Graham Ball from Arbuthnot Latham Private Bank to lead its private client portfolio. Ball, who was a regional associate director, joined Arbuthnot Latham in 1999 to establish its Manchester office.

BlackRock’s Richard Plackett handed over the running of the UK Smaller Companies Fund to his co-manager Ralph Cox. He remains at the firm as head of the UK smaller companies investment team.

Citi Private Bank appointed Keith Phillips – formerly of Credit Suisse – to its Israel team as a managing director and senior private banker.

Collins Stewart, the UK-based financial services group, confirmed the retirement of deputy chairman Terry Smith, who retired after 18 years at Collins Stewart to focus on his new fund management venture, FundSmith; he is also chief executive of Tullett Prebon, the London-based brokerage firm.

The London-based fund manager RWC Partners appointed Susanne Sorge – formerly of GLG Partners – to spearhead its growth in Germany, Austria and Switzerland.

Santander Asset Management appointed Tom Caddick as its new head of multi-manager after the departure of Keith Speck from the company. Caddick had previously worked at LV= Asset Management, where he had been head of multi-manager and fund selection.

F&C Investments, a unit of F&C Asset Management, bolstered its global thematic equities team with the appointment of Alice Evans as senior fund manager. She joined from Henderson Global Investors.

SVM Asset Management, the Edinburgh-based investment boutique, appointed Dr James Cooke as investment analyst, joining from Edinburgh Partners.

Arbuthnot Latham, the UK-based private bank, appointed Gregory Perdon as head of alternative investments and alternative lending. Perdon joined the bank from Arjent, a London-based investment boutique.

Sally Tennant, who had been head of Lombard Odier in London, took up the post of chief executive at Kleinwort Benson next January to perform the same role in leading that firm’s private banking operations. Frédéric Rochat took up responsibility for Lombard Odier's activities in London. In addition and as announced on 3 September, Rochat was appointed managing partner of Lombard Odier Darier Hentsch & Cie with effect from the start of January 2012.

Deutsche Bank Private Wealth Management hired Arnaud Apffel – latterly of Lombard Odier – as head of global investment solutions for EMEA. At Lombard Odier Investment Managers, Apffel was a co-head of private banking and also headed up the Swiss firm’s key clients unit.

In his new Geneva-based position he oversees all of the global investment solutions unit’s activities for EMEA, reporting jointly to Marco Bizzozero, head of PWM EMEA and chief executive of Deutsche Bank (Switzerland), and Kevin Lecocq, head of global investment solutions for PWM.

Bambos Hambi, the former head of multi-manager at Gartmore, joined the London-based boutique Insynergy Investment Management as a consultant, as the firm looks to expand its product range.

Odey Wealth Management, the partner-owned, Guernsey-based business, hired Sarah Thomson-Kennedy as client relations manager and Adrian Norman as operations manager. Meanwhile, Tim Bond, the former head of global asset allocation at Barclays Capital, joined the firm’s UK-based sister business Odey Asset Management.

Close Asset Management, part of the UK’s Close Brothers group, named Beverley Lavin – latterly of Brewin Dolphin – as its new head of financial planning. Lavin joined Close AM after five years at Brewin Dolphin, where she was most recently head of financial planning.

Brewin Dolphin appointed Alasdair Ronald and David Moore to its Glasgow office as divisional director and assistant divisional director, respectively. Ronald and Moore joined as private client investment managers. Ronald previously spent 26 years managing client portfolios and is a commentator on business and markets on BBC Radio Scotland. Moore has formerly worked for Greig Middleton in Glasgow.

KPMG Isle of Man has appointed Harley Richards as a manager on its tax team. Richards transferred to the Isle of Man business from the accountancy firm's offices in London.

Kotak Mahindra UK, a subsidiary of India’s Kotak Mahindra Bank, appointed Abhishek Bhalotia as its new chief executive. Bhalotia was previously CEO of the firm’s Dubai branch.

AWD Chase de Vere changed its executive team following a review of its senior management structure which will see the departure of the marketing director and group finance and operations director, and five new appointments to the senior management group. Andy Papadopolous, director of advisory services, Phil Andrews, sales performance director, Peter Russell, company secretary, Param Basi, technical director, and Daniel Baade, head of management information and corporate development, were promoted to the executive team.

Ashcourt Rowan, the wealth management subsidiary of Syndicate Asset Management, added two new members to its business development team. Ian Hancock joined the firm’s Bath office after a decade-long tenure at St James’s Place Wealth Management. In London meanwhile, Felicity Poole joined as a business development assistant; she was formerly at the Home Office.

The London-based alternatives firm James Caird Asset Management added Ian Newton and Matthew Addison to its investment team. Newton and Addison join from Cheyne Capital, where they had worked on the special situations team.

Russell Investments, the US financial services firm, appointed Danny Callaghan as head of UK IFA sales in its UK private client services investments team. Callaghan works alongside Rob Baird, who was appointed as channel management director for the team. Callaghan joined the firm from Montpellier Asset Management.  Baird, meanwhile, took over his new position from another role within the firm, having latterly been head of product development and strategic partnerships at Russell’s Toronto office.

Baring Asset Management appointed Thanasis Petronikolos as a director in the emerging markets fixed income and currency team, as it moves to expand its EM offerings. Petronikolos is responsible for managing exposure across the firm to emerging market debt and currencies, including managing the new Baring Emerging Markets Debt Local Currency Fund. He previously a fund manager at RAB Capital.

Polar Capital Holdings hired William Calvert, Ming Kemp and Neil Denman, who all join from AXA Framlington, to create a global emerging markets team.

PSigma Investment Management added three new members of staff to its business development team, bringing in Lee McDowell from L&G as a business development director, and Gee Jajodia and Johanna Bitton from Skandia as a business development director and sales and marketing manager respectively.

Amundi, the French asset management firm, made five hires in London. Christopher Morris and Anne Beaudu joined as senior global fixed income managers. Next is James Kwok, who joined as head of currency management. Lastly are Fabio Castaldi and Alexandre Burgues, appointed as absolute return managers, responsible for volatility overlays.

UK accountancy firm, Price Bailey, hired Steven McGregor, formerly of Barclays Wealth, to head up investments at its wealth management division, aiming to enhance its recently-created discretionary arm.

MaxCap, the UK multi-family office, appointed a new chief executive, Mohammed Syed, taking over from founder Michael George, who has moved onto the firm’s investment committee. Syed, founder of Axiom Funds, has held senior management positions at institutions in the UK and Asia.

Vistra, a provider of cross-border trust, fiduciary and fund services, appointed Alan Skinner as director of business development - private clients. Skinner was latterly managing director of Harneys Services.

Threadneedle appointed Vanessa Donegan to the newly-created post of head of Asia and global emerging markets equities. Donegan was latterly head of Asia Pacific equities.

Middle East

Nomura appointed Khaled AlKhattaf as chief executive for Saudi Arabia, in a bid to strengthen its presence in the region.

AlKhattaf joined the firm from the Saudi Arabia Stock Exchange, the Tadawul, where he most recently served as chief financial officer.

In his new role AlKhattaf will be responsible for developing Nomura's business in the Kingdom, which includes wealth management as well as investment banking and capital markets.

Merrill Lynch Wealth Management bolstered its team in Israel with the appointment of Yanir Brenner and Dan Ram as financial advisors to focus on both high and ultra high net worth clients.

Brenner joins from HSBC Private Bank, where he was based in Tel Aviv as a private banker. Prior to this he was a financial advisor at Analyst IMS.

Ram was latterly a financial advisor with UBS Wealth Management in Tel Aviv and before that worked for Edmond de Rothschild Investment Services as a private banker and a trader covering European and Israeli markets.

In their new roles, both appointees report to Sigal Shapira, head of Merrill Lynch Wealth Management in Israel.

Baring Asset Management opened a representative office in Dubai in response to growing demand from clients based in the Middle East, naming Nisarg Trivedi as head of sales and business development, United Arab Emirates.

Trivedi joined from Bank Muscat Asset Management’s sales team, where he was responsible for growing the firm's distribution network across both retail and institutional channels in Dubai. In his new role Trivedi reports to Rob Lay, head of Europe, MENA and alternatives.

UBS appointed Ali Janoudi as head of wealth management for Saudi Arabia, the Near East and North Africa, a role in which he will oversee the Swiss bank’s advisory office in Saudi Arabia and its representative offices in Lebanon and Egypt.

Janoudi joined from Banque SBA in Paris, where he was vice chairman. In his new role he will report to Anton Simonet, head of wealth management for the Middle East, Asia and Africa, and will be working closely with him on the bank’s strategy and recruitment efforts for the region.

Deutsche Securities Saudi Arabia appointed Ziyad Al Ashaikh as head of private institutional clients for the Kingdom of Saudi Arabia as part of moves to widen its client base in the region.

Al Ashaikh was latterly head of wealth management at JADWA Investments; prior to this he was head of institutional sales at NCB Capital, providing investment services for institutional investors and family offices in Saudi Arabia.

GAM appointed Philip Rosenberg as client director with responsibility for Israel, aiming to boost its private client offerings in the country and for Israeli clients living elsewhere.

Rosenberg most recently worked as an executive director at the Swiss private bank Julius Baer. His wealth management experience is focused on Israeli and Diaspora clients and he has also worked at Shearson Lehman Brothers, EFG Private Bank and IDB London.

Rosenberg will take responsibility for serving and building private client relationships in Israel. He will report to Jonathan Colchester, head of private clients in the UK.

South Africa’s Standard Bank bolstered its Africa relationship management team with the appointment of private bankers Alan Blackwell and Will Groat to lead its operations in East and West Africa respectively.

Blackwell joined the firm from the UK-based private bank Coutts and will be located in Jersey in his new role. Groat, meanwhile, joins from Kaupthing Singer & Friedlander and will be based in London.

Citi appointed Saad Ashraf, a senior Goldman Sachs executive, as the head of the distribution business for Citi Capital Advisors within the Middle East, Central/Eastern Europe and the Africas, based in Dubai.

At Goldman Sachs, Saad was co-head of the Middle East Securities business.

Asia Pacific

Genworth Financial appointed Ellie Comerford as president and chief executive officer of Genworth Australia.

Comerford stepped in from First American Financial Corporation, where she was chief operating officer for the international division. She will also become an officer of parent firm Genworth Financial. 

HSBC Global Asset Management appointed Joanna Munro as chief executive of the firm’s Asia Pacific unit, and named the former holder of the post, Rudolf Apenbrink, as the new CEO of asset management in Europe.

Munro will take up her new role in the second quarter of 2011 and will be based in Hong Kong, reporting to John Flint, global CEO based in London. She was latterly global head of product for HSBC GAM.

Edmund Stokes, the firm’s chief operating officer for Asia Pacific, will be acting CEO in the region in the interim period.

Apenbrink moved into his role as CEO of HSBC GAM in Europe earlier this month.

Prudential appointed Beonca Yip as regional head of retail for its fund management business in Asia.

Yip was most recently managing director, head of sales and marketing for Asia at Lyxor Asset Management. In this new role, she will be responsible for developing and driving regional sales, distribution and investment marketing strategies across the region.

She reports to Graham Mason, chief executive of fund management for Asia. She also serves as a member of the regional funds leadership team and on the board of Prudential's Taiwan business, as well as of Citic-Prudential Fund Management, the company's joint venture in China.

Bank of America appointed Zhang Xiuping as co-head of M&A for Asia.

Zhang stepped in from Deutsche Bank, where she headed the China mergers advisory unit. At Bank of America, she will be working alongside co-head Michael Cho for the M&A team in the region. She assumes her new role in December.

The international law firm Withers boosted its Hong Kong practice with the appointment of one partner and three associates.

Sharon Ser joined the company as a partner, to lead the family law practice in Hong Kong. Ser is from Withers’ associated Hong Kong law firm Facey & Co, which was set up in August this year and will officially be merged into Withers by January 2011.

Stepping in as associates were Rita Ku, Deanna Tam, and Jacqueline Mak, who also joined through Facey & Co.

Walkers promoted several of its Hong Kong staff to address the growing demand for offshore legal services in the Asian region.

Arwel Lewis and Thomas Granger were promoted to partners in the Investment Funds Group. Linklaters-trained Lewis joined the firm in 2007 and specialises in corporate work, private equity and investment funds. Granger stepped in from Minster Ellison in 2005 and has focused on the same sector.

Also promoted from associates to counsel are Ashley Davies and Fraser Hern. Davies became part of Walkers' finance and corporate group in 2008, with a focus on Cayman Islands and BVI law, while Hern joined the company in 2009 to focus on corporate and financial restructuring, as well as contentious and non-contentious insolvency.

Conyers Dill & Pearman brought Veronica Strande - previously with Mourant Ozannes - into its London office, where she will specialise in capital markets, Islamic finance, restructuring and corporate matters.

In Hong Kong, the firm named Junko Shiokawa as an investment funds and corporate associate.

In another move, Gene DaCosta relocated back to the firm’s Cayman office from Hong Kong, where he was seconded to provide Cayman Islands legal advice on asset financing and funds transactions. His practice includes all aspects of corporate and commercial law, with a focus on mutual funds, shipping and aircraft registration.

Conyers also hired Sophia Greaves into its Bermuda office where she will practise corporate law. She was formerly a commercial risk and reinsurance associate at Barlow Lyde & Gilbert in London.

ABN AMRO Private Banking hired Vienne Cheng as head of wealth structuring and estate planning in Hong Kong.

Cheng was most recently the vice president for trust and fiduciary services at Bank Sarasin. Prior to that, she worked for Hang Seng Bank Trustee, BNP Paribas & HSBC International Trustee.

Ambit Capital hired Saurabh Mukherjea as managing director, head of equities.

Mukherjea is currently on gardening leave from Execution Noble, where he headed the institutional equities business. Execution Noble is the company that took over the equity research firm he co-founded, Clear Capital, in 2003.

At present, the equity business is being supervised by Andrew Holland, who will focus on Ambit's investment advisory business after Mukherjea takes up his post. Both appointees will report to Ashok Wadhwa, group chief executive.

New Zealand's Kiwibank invited Rob Morrison to join the firm as an independent director.

Morrison, who will also be stepping in as deputy chairman, recently retired as chairman and chief executive of Hong Kong's CLSA Asia Pacific Markets.

Meanwhile, the firm’s chairman Jim Bolger resigned, effective 31 October. Bolger was replaced by Ian Fitzgerald, formerly an independent director and deputy chairman. Fitzgerald assumes the deputy position until 1 July 2011, after which Morrison officially takes over.

Deloitte, the international professional services firm, appointed Michael Tang to head its New Zealand financial services practice.

Tang, who was a partner at Deloitte in Toronto, will move to Auckland for his new role. He previously served at the likes of the Bank of Montreal, Toronto Dominion Bank, Scotia Bank, and the Canadian Imperial Bank of Commerce.

The Australian wealth manager JBWere bolstered its philanthropy arm with the appointment of Jim Whineray as senior advisor for its Auckland office.

Whineray became part of the company as an advisor in 2004. In his new role, he will be responsible for raising awareness of philanthropic issues in New Zealand and introducing JBWere's services to the NZ market.

Defeated Auckland super city mayoral candidate John Banks became the new executive chairman at Huljich Wealth Management.

Banks took over from ex-Reserve Bank governor and National Party leader Dr Don Brash, who is leaving the board and the company to return to his duties as board member at ANZ National Bank. Huljich is expected to soon announce a new director to replace Dr Brash on the Huljich board.

Also recently appointed to the Huljich team was Mark Ford, who joined as chief investment officer. Ford was previously the head of institutional and wholesale funds management at ING (NZ) and also served at Macquarie Bank. He most recently worked in the private bank and wealth businesses of BNZ.

HSBC’s private banking division announced major changes to its Asian and European top management with new appointments.

In Asia, Desmond Liu is to become head of private banking for North Asia and Nancie Dupier will become head of private banking for South East Asia. They succeed Monica Wong, who decided to retire. Meanwhile, Alexandre Zeller will assume the new role of CEO for private banking in Europe, Middle East and Africa.

All three will report to Chris Meares, CEO of global private banking, the bank said in a statement. Meares will move to Hong Kong to oversee the leadership transition, due to its importance, the bank said. Mears will continue to divide his time between Europe and Asia, and the Global Private Banking head office will remain in Europe.

HSBC also appointed Franco Morra as the new head of private banking at HSBC Private Bank (Suisse), reporting to Zeller. Morra previously worked for UBS where he was most recently CEO for Switzerland and a member of the group executive board.

Bank of Singapore announced a number of high-level appointments.

Jean Lee will take up the role of executive director and head of human resources, while Ambrose Law will become executive director and chief finance officer.

Lee has over 25 years of experience in various senior HR roles at HSBC Private Bank, Deutsche Private Bank, and Standard Chartered Bank. Law stepped in from Merrill Lynch, where he served as CFO of global wealth management, with a focus on the Asia Pacific, Europe and Middle East.

Deutsche Bank Private Wealth Management appointed senior relationship and investment advisory teams to serve its growing wealthy client base in Southeast Asia.

Arunrat Bovornvirakit and Elizabeth Lee, both from RBS Coutts, joined the firm as directors and team heads. Bernard Wan, from DBS Private Bank, stepped in as director and senior investment advisor. Also newly-appointed are Cun Cun and Lynne Low as vice presidents and relationship managers, and Janus Yeo and Eddie Er as vice presidents and investment advisors. Cun is from ABN Amro Private Bank, Low and Yeo are from DBS Private Bank, while Er used to work at Société Générale.

Fullerton Fund Management’s chief executive Gerard Lee resigned. Lee is reportedly moving to Lion Global Investors, but the Singapore firm declined to comment on the matter. Its previous CEO, Daniel Chan, left in July this year. Lee's former role will be occupied by deputy CEO Choy Peng Wah in the interim.

Standard Chartered hired ex-Credit Suisse executive Dr Markus Wolf as director and business planning manager to Shayne Nelson, the chief executive and global head of The Standard Chartered Private Bank.

Dr Wolf will report to Nelson and work closely with him to further develop the private bank’s global franchise. He will be based in Singapore, although the firm said the role is very much a “global” position.

Dr Wolf joined from Credit Suisse where, during six years based in Singapore, he held strategic positions covering the South East Asian and non-Asian regions for Credit Suisse Private Banking.

Eaton Vance appointed Robert White to head its Singapore-based subsidiary, Eaton Vance Management International (Asia).

White was previously at Banquo Credit Management, where he established the Singapore office to develop and manage institutional client and consultant relationships for the Asian region.

In his new role, he will be responsible for product management, business development, client service and investment analysis for the firm's Asian strategies. He reports to Niall Quinn, the managing director of Eaton Vance Management, and to Payson Swaffield, the chief income investment officer. He takes over from Walter Shulits, who is retiring in December.

RBS Coutts announced that eight new private bankers are joining its South East Asia team.

Bruno Merlino was named team leader for Indonesia. Merlino is from UBS in Singapore, where he served as executive director and Indonesia desk head. He begins his new role on 1 December 2010.

Also joining the firm is Syed Al-Idid, who will become senior private banker to lead a new team focused on developing the Malaysia market. Al-Idid is from Credit Suisse Private Bank in Singapore, where he was senior relationship manager for ultra high net worth and high net worth clients.

Another new senior private banker is Marco Fleischmann, who will be covering the Indonesia market. He was previously desk head of the Indonesia team in Singapore and was subsequently appointed as chief representative of UBS in Jakarta. Gwendaline Lim also joined as a senior private banker, coming from Hong Leong Bank in Singapore. Lim will be covering both Singapore and Malaysia markets.

Julian Chester, Daniel Tang, James Pang, and Aaron Ng joined as private bankers. Chester will be in charge of the expatriate market in Singapore and South East Asia, Tang for the Singapore/Malaysia team, and Pang and Ng for the Thailand team. Chester was an expat specialist at Standard Chartered Bank in Singapore, Tang was a Malaysian specialist for United Overseas Bank, while Pang and Ng are both former relationship managers at HSBC in Singapore.


Conyers Dill & Pearman hired Veronica Strande, previously with Mourant Ozannes, to its London office. In her new role she will specialise in capital markets, Islamic finance, restructuring and corporate matters. In Hong Kong Junko Shiokawa joined as an investment funds and corporate associate. The firm’s Cayman office moved Gene DaCosta from Hong Kong. Conyers also hired Sophia Greaves into its Bermuda office where she will practice corporate law. She was formerly a commercial risk and reinsurance associate at Barlow Lyde & Gilbertin London.

Butterfield Bank appointed James McPherson as senior vice president and head of group internal audit. He joined from Noor Islamic Bank in Dubai, where he was most recently head of internal audit and business review risk. He has worked in senior roles at Citigroup in the US, Saudi Arabia, Belgium and Japan.

Collins Stewart Wealth Management hired Patrick McConnell and Anthony McGovern to its stockbroking desk in Jersey. McConnell joined from UBS; in his new role he will focus on providing execution and advisory services, primarily to intermediary clients. McGovern was previously at Standard Bank Offshore and will provide fixed interest trading services and advice. Both McConnell and McGovern will report to Steve Glover, head of Jersey stockbroking for CSWM.

HSBC Global Asset Management moved Rudolf Apenbrink, previously chief executive of the firm’s Asia-Pacific unit, to be chief executive of asset management Europe. He was replaced by Joanna Munro, latterly global head of product for the firm, who will now be based in Hong Kong. She will report to John Flint, global CEO, based in London. Edmund Stokes, the firm’s chief operating officer for Asia Pacific, was appointed acting CEO in the region in the interim period until Munro takes up her new role in May 2010.

LOM Asset Management made three new appointments: Max Fielder joined as an assistant portfolio manager; Lekeia Robinson joined LOM as a senior settlements officer; Sonia Jaswal joined LOM Securities as an investment advisor. Previously Felder worked as a banking specialist in the retail market whilst Robinson worked in the settlements department at Everest Capital. Meanwhile Jaswal was based in Vancouver, Canada, working at Canaccord Genuity Corporation

Mourant Ozannes appointed Morven McMillan as head of trusts in the firm’s Cayman office. McMillan was previously partner and head of the trust and fiduciary disputes unit at Charles Russell in London. She also spent five years at Walkers in Grand Cayman.

Barclays Wealth appointed Simon Phillips as vice president to its intermediaries team in Jersey. Phillips most recently set up an intermediary and institutional wealth solutions team at Barclays Wealth in May.

Union Bancaire Privée made three hires to its asset management units in Europe and Japan: Nicolas Faller joined as head of sales for Europe; Frédéric Peemans joined to head up a new Benelux-focused team; Kazuhito Yoshihara joined as chief executive in Tokyo. Faller was previously global head of distribution sales and an executive committee member at BNP Paribas Investment Partners. Peemans joined from Robeco, where he was head of sales for Belgium and Luxembourg. Yoshihara joined from BNP Paribas Investment Partners Japan and has also held senior management positions at Deutsche Morgan Grenfell Asset Management, WestLB Asset Management and Fortis Investments.


UBS appointed Paul Raphael, who recently ran his own investment business, as head of the Swiss bank’s newly-created business area known as Wealth Management for the Emerging Markets. Raphael will be a member of the UBS Wealth Management executive committee and will report directly to Jürg Zeltner, chief executive for UBS Wealth Management. He has had a 25-year career with roles at Salomon Brothers, Merrill Lynch and Credit Suisse

Barclays Wealth appointed Robert Darlington as a director - a newly-created role which will see him lead the firm’s wealth structuring business in Switzerland. Darlington joined from Lloyds TSB in Geneva, where he was head of business development, prior to which he worked for Credit Suisse as head of Geneva for Asia/Middle East. In his new role he will report to Walter Coxon, head of wealth structuring at Barclays Wealth.

The Swiss private bank Banque Profil de Gestion appointed Gilbert Pfaeffli as chief executive, replacing Régis Ducrey. Pfaeffli, who has 35 years of banking experience, joined from Banque Cantonale de Genève, where he was head of BCGE Private Banking Switzerland.

Clariden Leu appointed former UBS employee Jann Lüscher as a senior relationship manager in the Indian sub-continent & Far East team from the start of this month. Lüscher will be responsible for the Hong Kong market, reporting to Niels Zilkens, head of the business area for the Indian sub-continent and the Far East. He was at UBS for the last six years where he was a key client advisor for ultra high net worth individuals in Asia Pacific, based in Zurich.

Lombard Odier Investment Managers appointed a team from Selectium Europe led by Marc Bataillon, to lead European equities from London. They will report to Aziz Nahas, chief investment officer for equities at the firm. Lombard Odier IM also hired Cyril Marquaire, senior analyst, and Arnaud Mallet, the team’s risk and operations manager.

Syz & Co named Xavier Guillon as the new chief executive of its Oyster investment funds arm, replacing Alan Mudie, who was appointed head of the firm’s new fund research department. Guillon latterly managed the firm’s services to independent asset managers, responsibilities he will continue to hold. In his prior career he spent 14 years at Brown Brothers Harriman, where he headed a team selling research to institutional clients.

Rothschild Private Banking & Trust named Stefan Liniger as the new chief executive of its global trust business. Liniger who will join the firm’s executive board, succeeds David McLellan. Liniger joined the firm from Goldman Sachs in Zurich, where he was head of wealth planning for the last three years. Before this he was a partner in the private client unit of the Swiss law firm Bär & Karrer.

The firm also named Dominique Maire as head of emerging markets fixed income portfolio management – a newly-created role. Maire started working at the firm in 2004, latterly as a senior banker.

UBS appointed Daniel Kalt - formerly head of economic analysis at UBS Wealth Management Research - as its new chief economist in Switzerland. Kalt first joined the Swiss bank in 1997 as an economist in the Swiss research team and has also worked in credit portfolio management for the corporate and private client credit business in Switzerland. Kalt will report to Andreas Höfert, UBS chief economist for wealth management and Swiss bank.

LGT Capital Partners hired Jaime Castán as co-head of the firm’s hedge fund investment management team, responsible for LGT Capital Partners’ research competence centres. Castán joined from Man Investments, where he was the head of hedge fund research and chairman of the manager board.

Manuel Ebner, the former chief executive of Wilen-based BZ Bank, joined Bank of America/Merrill Lynch as country executive for Switzerland and chief executive of Merrill Lynch’s capital markets unit in the country. He replaced Christian de Prati, who left to pursue other opportunities outside the company. In his new role Ebner will report to Jonathan Moulds, BoA’s president of Europe.


Somangest hired Marc-Antoine Brabant as senior portfolio manager. Brabant joins from Quilvest & Associates, where he was a private banker. He has also worked at HSBC Private Bank France.

SEB announced a raft of appointments to its executive team: Anders Johnsson, previously head of trading and capital markets within the firm’s merchant banking division, was appointed head of wealth management; Fredrik Boheman, previously head of SEB Wealth Management, was named head of SEB Germany; Ingrid Engström, previously head of group HR and organisational development, was hired as senior advisor to Boheman; Jan Sinclair, latterly head of SEB Germany, was appointed deputy chief risk officer, a newly-created post, reporting to group CRO Johan Andersson.

Groupama Asset Management appointed Arnaud Ganet and Alberico Potenza as international commercial director in Italy and managing director of Groupama AM SGR, respectively. Ganet was previously head of development in Italy for Groupama and a managing director of Groupama AM SGR. He has also worked at CSE Insurance Group. Potenza was previously head of institutional clients at Groupama AM SGR, before which he worked for Allianz Global Investor AM as an analyst and manager. He also worked for Merrill Lynch Private Banking in New York for 10 years.

Lazard named Naguib Kheraj as chief executive of Lazard International, a newly-created post, and also as deputy chairman of the firm, effective 1 January 2011. Kheraj was latterly CEO of JP Morgan Cazenove. He was also a director and member of the group executive committee of Barclays where he served in a number of senior roles over a period of ten years.

Troika Dialog appointed Catherine Thibaut to head its private banking business. Thibaut was latterly based in Geneva as RBS Coutts’ executive vice president for private banking across Eastern and Central Europe. Prior to this she was managing director for ING Bank Switzerland, dividing her time between Geneva and Moscow. She has also served as chief executive of American Express Bank in the Russian capital. In her new role she will report to Igor Sagiryan, Troika Dialog’s managing director.

The firm also appointed Evgeny Linchik as head of its strategic consulting group. He joined from Renaissance Asset Management, where he was a vice president and junior portfolio manager.

Union Bancaire Privée appointed Yves Stein as head of its banking activities in Luxembourg. Before joining UBP Stein was chief executive at BNP Paribas in Switzerland in charge of wealth management. Prior to that, he was chief executive of private banking within the Fortis group.

Standard Chartered Private Bank expanded Stephen Richards Evans’s role - formerly regional head, North East Asia – to include India, the Middle East, Africa, Europe and the Americas. Meanwhile Rajesh Malkani - formerly regional head, South East Asia – was named head of the East region, comprising South East and North East Asia. SCPB also appointed Walter Allemano as head of investment advisory, Europe. James Pountney, formerly head of private banking for UK and Jersey, was named head of international and private banking for Jersey.

RBC Dexia Investor Services appointed Cristiano Moruzzo as a director of relationship management in Italy, a newly-created role. He joined from Merrill Lynch Wealth Management in Milan, where he had been in charge of operations and client relations. He will report to Paride Amiotti, managing director of RBC Dexia in Italy.

JP Morgan added two private bankers to its German team, with Wolf-Christian Massner joining from Fürstlich Castell’sche Bank and Georg Albrecht coming over from UBS Deutschland. Based in Frankfurt, Massner and Albrecht will report to Håkan Strängh, head of the private bank in Germany and Austria.

Latin America

UBS appointed three senior executives in Brazil: Lywal Salles was named chairman of UBS Group Brazil; Eduardo Centola joined as chief executive officer of UBS Investment Bank in Brazil; Daniel Mendonça Barros was named CEO of the UBS broker-dealer and head of the UBS securities business in the country.

Salles was latterly chairman of the board of Banco Itau Europa International and Itau Europa Securities. He also held several senior positions at Citibank, including regional head of Latin America for the high net worth client segment. Centola joined from Standard Bank group, where he most recently served as CEO of the Americas. Meanwhile Barros was the founder of UBS-acquired Link Investimentos which was closed. All three will be based in São Paulo.

UBS also promoted Philip Lofts to be chief executive officer of UBS Group Americas and hired Maureen Miskovic to replace him as group chief risk officer; she also joined the group executive board. Miskovic was most recently chief risk officer of State Street Corporation. She will be based in Zurich and will report to Gruebel.

BNY Mellon appointed Dino Sani as managing director and head of treasury services for Latin America. Sani spearheaded Banco de Brasil's US-focused initiatives and has previously served as general manager of Banco Itau's New York office.

N uveen Investments appointed Oscar Isoba senior vice president and head of Latin American business development. Isoba joined from AllianceBernstein, where he managed the Latin American business. In his new role he reports to David Levi, managing director for global business development.

North America

Northern Trust expanded the role of Jeffery Kauffman - president and chief executive of Personal Financial Services in the northeastern US - to include the leadership of PFS in Europe, the Middle East, Africa and Asia Pacific. 

As managing director of PFS EMEA and Asia Pacific, Kauffman reports to PFS president Sherry Barrat.

Kauffman, who most recently focused on the ultra high net worth segment, had served in his US-based role since 2006.  Before that he was president and CEO of the greater New York area from 2003.

BMO Harris Private Banking appointed Rick Thomson as vice president and market leader.

Thomson was latterly vice president and regional director for the Greater Toronto division.

Thomson assumed leadership of a team of 35 who serve clients through the firm’s private banking offices in Halifax, Moncton and St John's.

BNY Mellon Wealth Management hired Henry Martinez as senior advisor for strategic relationships.

Martinez joined BNY Mellon from Northern Trust. Prior to joining Northern Trust, he spent 25 years at United National Bank, where he was executive vice president.

GenSpring Family Offices signed on Matt Pohlman as a family wealth advisor in Chapel Hill, North Carolina. He advises families throughout the Carolinas, focusing in the “research triangle” and Eastern North Carolina.

Pohlman was latterly director of client services for Franklin Street Partners, an investment firm also located in Chapel Hill.

Barclays Wealth hired Michael Burke, former head of Deutsche Bank Alex Brown, the US Private Client Services division of Deutsche Bank, as regional manager of its Washington, DC office.

Prior to Deutsche Bank Alex Brown, he worked at Morgan Stanley for 17 years in several senior sales roles including director of national sales and regional director for the Southern US.

The Madison, New Jersey-based wealth advisory firm Brinton Eaton named Melissa Archuleta assistant director of operations.

Archuleta is responsible for establishing and executing operating procedures, enhancing technology and communication platforms, and liaising with outside vendors in areas such as human resources and purchasing.  She is also responsible for compliance activities, including running annual audit activities and conducting monthly and quarterly compliance reviews.

Stone & Youngberg hired Stephen Collins as senior vice president and New York branch manager for its private client group.

Collins is now responsible for building the firm's high net worth private client operations in the Northeast.

Morgan Stanley elected James Owens, currently on President Obama’s Economic Recovery Advisory Board, to its board of directors, effective 1 January 2011.

Owens was appointed to the President’s Economic Recovery Advisory Board in 2009.

Nuveen Investments appointed Oscar Isoba senior vice president and head of Latin American business development.

Isoba joined Alliance Bernstein, where he will manage the Latin American business. He will report to David Levi, managing director for global business development.

JP Morgan Asset Management has hired Matt Malloy to head its insurance unit for North America.

Malloy joined from Goldman Sachs Asset Management, where he served as managing director in the global insurance group.

US Trust, the private banking subsidiary of the Bank of America, added eight to its wealth management team.

Diane Wakefield and Greg Owens stepped in as private client managers. Wakefield joined from Deutsche Bank's private wealth management unit, while Owens was previously the director of financial planning for Alaska Trust Company.

Also newly hired were Michael Muttart as regional trust executive, Marc Compton as market executive, Jason Foster as private wealth consultant, Marian Howley as private client consultant for Stamford, Connecticut, and Kerby Wallick and Tony Fout as senior portfolio managers for Grand Rapids and Chicago, respectively.

Lord Browne, the former chief executive of BP, was appointed chairman of a newly-created advisory board at Stanhope Capital as the multi-family office prepares for international growth.

Lord Browne chairs a three-person advisory committee in a non-executive capacity. The other two committee members will be confirmed before the end of the year.

WealthPoint, a provider of succession, legacy and life insurance plans for high net worth individuals, named new members to its advisory board.

Robert Boulware, Michael Olsen, Steven Pidgeon, and Paul Walsh make up the four-person team, which the company says will be eventually increased to eight. The board expansion is not set to take place until late next year.

Boulware has been a director for the likes of Gainsco Auto Insurance and a trustee for Met Life Investor Series Trust. He also was the president and chief executive of ING Funds Distributor from 1992 to 2006.

Olsen is presently the chief financial officer, treasurer and corporate secretary for a private real estate firm. He had also worked for 16 years with Bank of America, with a focus on financial analysis, investment management, trust administration, portfolio management, and the like.

Pidgeon specializes in securities offerings, mergers and acquisitions, and recapitalizations, among others, and currently serves as co-managing partner at DLA Piper's Phoenix office. Walsh, a former chairman and CEO of eFunds Corporation, is the owner and CEO of the consulting firm PWM Management

The law firm Thorp Alberga added Richard Mansi - formerly of Royal Bank of Scotland - to its roster of partners in the Cayman Islands.

Mansi has held a number of senior investment banking roles: at RBS he was managing director responsible for fund derivative and related structuring, and before that he worked for Deutsche Bank. Mansi was also a partner at the law firm Maples and Calder, where he was based in London in charge of the firm’s investment funds practice.

Bessemer Trust named Kevin Rochford managing director and head of the firm’s Chicago office. He reports to David McNeel, central region head.

Previously, Rochford was managing director at Nuveen Investments Wealth Management Services in Chicago. Before that, he spent 13 years with The Northern Trust Company, most recently as chairman and chief executive of the western region, where he oversaw 13 offices in three states.

Wilmington Trust hired Karen Bonn as client development officer for its Retirement and Institutional Services unit, part of the firm's corporate client services business.

Bonn joined from GreatBanc Trust Company, where she was senior vice president. Prior to that, she was with BDO Seidman and Grant Thornton.

In her new role, Bonn will lead the RIS business development initiatives with companies offering employee stock ownership plans as part of their retirement programs.

Separately, R Keith Elliott, a board member at Wilmington Trust Corporation, resigned due to medical reasons.

Timothy Vara was named president of Bank of New York Mellon Trust, effective on 1 January 2011.

Vara joined BNY Mellon in 2006 and takes over from Troy Kilpatrick, who was recently appointed head of global business development for BNY Mellon Corporate Trust.

Novato, California-headquartered Bank of Marin opened a loan production office in Santa Rosa which will subsequently become a full service branch, appointing Chris Rosell to provide private banking services from the new base.

Rosell, vice president and private banker for Sonoma County, joined the bank in 2009.

TD Bank, a US subsidiary of Canada’s Toronto-Dominion Bank of Toronto, hired Sean Roy-Becker as a senior private banking officer for its Portland, Maine office.

Roy-Becker was formerly a relationship manager at Key Private Bank, also in Portland.

Merrill Lynch appointed Tom Fickinger as head of financial advisor strategy and strengthened its wealth advisory team with two additional hires.

Fickinger was most recently the managing director of the New Jersey region for Merrill Lynch, a role he will continue in until a successor is found. Fickinger has also been first vice president, head of business development in investor strategies in New York City and head of financial planning in Princeton.

Fickinger reports to John Hogarty and Lyle LaMothe in his new role and he will serve as a member of the USWM executive committee.

The firm also hired Jerome Bookstein and Adam Bornstein from UBS Wealth Management Americas as wealth advisors in Bloomfield Hills, Michigan.

Morgan Stanley appointed Shelley Hanan as chief executive of its private bank, a role which she has undertaken on an acting basis for the past month, and hired Citigroup veteran Mark Connolly for the newly-created position of head of products, also for the private bank.

A 26-year veteran of Morgan Stanley, Hanan has held a number of roles within the firm’s wealth management business, having most recently been chief administrative officer of MSSB.

Connolly, meanwhile, was latterly co-chief executive and chief operating officer of Citigroup’s US private banking unit. In his new role, he will provide private banking products and services to the firm’s financial advisors and clients.

Genworth Financial appointed current senior vice president and chief financial officer Patrick Kelleher as president and chief executive of retirement and protection, as well as executive vice president of the company.

The firm named David Walker senior vice president and CFO of retirement and protection.

Kelleher joined Genworth in 2007. His previous roles include financial leadership and product management positions at Sun Life Assurance Company, Manulife Financial and Transamerica Reinsurance.

Walker was previously at Allianz, where he was most recently senior vice president of group planning and controlling.

A $500 million team from Morgan Stanley Smith Barney's office in Eugene, Oregon left to set up an independent advisory firm.

Sapient Private Wealth Management is headed by managing partner Greg Erwin, along with, Alan Rexius and King Martin - all MSSB veterans.

Standish Mellon Asset Management appointed David Leduc as chief investment officer of active fixed income.

Leduc's has worked at the company since 1995 and most recently served as managing director of global fixed income and as senior portfolio manager responsible for overseeing non-US and global bond strategies. Prior to that, he was an investment officer at State Street Bank & Trust.

First Republic Bank appointed Gina Costello as wealth advisor and managing director within its private wealth management division.

Before joining the California-based bank, Costello worked in private wealth management for UBS as a senior vice president, prior to which she worked for US Trust as a senior vice president on new business development.

First Republic Bank hired Silvia Fernandez as a managing director for private banking and Alan Remedios as portfolio manager and managing director in its investment management division.

Wilmington Trust hired Walter Rose as consultant at its Wealth Advisory Services office in Los Angeles.

Rose is a founding partner of Venture Consulting Group, which caters to small businesses and venture capital firms. He is also a founding partner of McBain, Rose Partners, a private equity investment companies specializing in the acquisition of middle market firms.

In his new capacity, he will work closely with the company's business development team for the Southern California market.

Citi Private Bank hired Philip Sharkey as managing director and head of investments for the New York Region.  He now reports to Steve Bodurtha, head of investments, North America.

Sharkey joins Citi from Guggenheim Partners where he was a managing director and head of US portfolio management.

Susan Mucciarone, managing director of Wells Fargo’s East Coast family business, retired on 2 November. A replacement has not yet been named.  

Mucciarone took the reins of Calibre, Wachovia Wealth Management's multi-family office, as managing executive in 2007. When Wells Fargo merged with Wachovia in early 2009 she assumed her last role.

First Western Trust Bank appointed Russel Schmucker as president of its Cherry Creek, Colorado office.

Schmucker was previously managing partner and chief operating officer at Winston Capital.

In his new role he will be handling private banking, wealth planning, trust and investment management services for high net worth individuals, their families and businesses. He also joined the branch’s leadership team.

Genworth Financial Wealth Management hired former Fidelity Investments executive Michael Kim as senior vice president of business and channel development. In his new role Kim will head a new department to support advisors servicing high net worth investors.

Wilmington Trust appointed James Naber - latterly of the New York-based professional services firm Accume Partners - as chief audit executive.

At Accume Naber was a banking practice leader and managing director of the firm’s New England region – a role in which he launched the firm’s Boston office and built a practice advising local banks on issues such as internal audit, regulatory compliance, corporate governance and risk management.

In his new role, Naber will report to the board of directors’ audit committee in order to ensure that audit activities are carried out independently.

The hedge fund company Permal Group hired Marilyn Schaja to the newly-created post of head of US distribution channels, joining from Ivy Asset Management, where she was director of client development.

Schaja began her new role on 4 October. She reports to Joshua Levine, head of institutional markets at Permal.

California-based First Republic Bank hired Silvia Fernandez as a managing director in its private banking unit and Alan Remedios as portfolio manager and managing director in its investment management division.

Prior to joining First Republic, Fernandez worked for Silicon Valley Bank for 12 years, most recently as head of private client services.

Remedios previously worked for First Foundation Advisors, most recently as managing director of fixed income investments. 

Boston Private Financial Holdings has announced that its vice chairman, Walter Pressey, will retire and that executive vice president and chief executive of wealth advisory and investment management, JH Cromarty, left to become chairman of the wealth management consultancy Red Rock Strategic Partners.

Pressey, part of the company for fourteen years, served as president, director, chief financial officer and chief risk officer. He will also retire from the board of directors.

Cromarty will join Colorado-based Red Rock Strategic Partners and his position at BPFH will not be filled.

First Western Trust Bank appointed Harold Pine to lead its DTC Cherry Hills portfolio management team.

Pine most recently served as chief investment officer for the Jess S Morgan Company and previously held executive positions at US Bancorp, Wells Fargo, and UBS.

Stepping in as associates are Rita Ku, Deanna Tam, and Jacqueline Mak, who also join through Facey & Co.

Hartford Financial Services appointed Don MacQuattie to the newly-created post of vice president and director of retirement plans for education, healthcare, and tax-exempt organizations.

MacQuattie was a vice president and director of strategic relationships for the Retirement Plans Group. In his new post, he reports to Sharon Ritchey, executive vice president and director of the group.

MacQuattie's previous duties will be handled by existing staff. He will not be replaced.

BlackRock appointed Chris Leavy to the newly-created position of chief investment officer of US Fundamental Equity.

Leavy was most recently CIO of equities at OppenheimerFunds.

In his new role he will be responsible for overseeing BlackRock's $150 billion US-based fundamental equity business and will report to Quintin Price, global chief investment officer for fundamental equity.

Northern Trust appointed William Buccella as president of Northern Trust Bank of Massachusetts.

Buccella was most recently managing director and northeast sales performance executive for US Trust, Bank of America Private Wealth Management.

Buccella replaced Lee Woolley. Named director of advisory services at Northern Trust, Woolley is now based in Chicago.

Yakub Mathew was hired by Citi Private Bank in New York as managing director and private banker based in New York City to focus on South Asian clients. He reports to Charles Merrill, New York regional executive for Citi Private Bank.

Mathew joined from HSBC in New York where he had been the national head of South Asian banking since 2002.

United Capital of Texas appointed Mark Shepherd as a wealth advisor.

Shepherd was latterly a senior financial advisor at the global wealth and investment management group of Merrill Lynch.

Citi Private Bank in Chicago hired David Moore and Thomas Payne as director and private banker respectively.

Moore stepped in from JPMorgan Private Wealth Management, while

Payne was most recently a managing director at Harris myCFO.

Northern Trust named Lee Woolley director of advisory services, reporting to Charlie Mueller, wealth advisory services leader.

Previously, Woolley served as president of Northern Trust Bank of Massachusetts in Boston.

Washington Trust hired Ann Nagle as vice president and trust officer of its wealth management area's new group insurance trust division.

Nagle joined from BankNewport in Middletown, Rhode Island, where she was vice president and manager, group insurance trusts.

Nashville Bank & Trust named Andrew May as its new chief financial officer.

UBS Wealth Management Americas added two advisors to its Manasquan, New Jersey office.

Richard Hausler and Lawrence Jay joined from Morgan Stanley and now report to Matthew Wojcik, branch manager.

Susan King Riechel joined First Foundation Advisors as managing director of fixed income investments.

Riechel was most recently the managing director of fixed income at Covington Capital Management in Los Angeles.

Cedar Brook Financial Partners named Frank Legan as its newest partner.

Prior to joining the Ohio-based wealth management firm, Legan was a financial advisor in the private client groups at Merrill Lynch and National City/PNC Investments.

Merrill Lynch Wealth Management added three new advisors to its team: Christine Heim, Michael Lehman and Louis Cappitelli. Heim and Lehman both come from Wells Fargo Advisors and will be based in Florham Park, New York. Cappitelli, based in Juniper, Florida, steps in from Morgan Stanley Smith Barney.

Morgan Stanley’s private wealth management arm appointed Pavlos Bailas as its new head of its Europe, Middle East and Africa region, following the departure recently of Alexander Classen from the post.

Bailas, who had been an investment advisor in Zürich since joining Morgan Stanley in 1992, also joined the International Wealth Management executive committee and the Morgan Stanley EMEA operating committee. 

Avondale Partners appointed David Morris as vice president, financial advisor.

Morris stepped in from ChurchStreet Advisors, which he founded in 2006, and where he assisted high net worth clients with asset allocation and investment strategies.














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