People Moves
Global Executive Moves - July 2011
Top move of the month
Credit Suisse: Hans-Ulrich Meister was made chief executive of
private banking,
with existing CEO Walter Berchtold moving to the role of
chairman. Meister’s new role as CEO is in addition to his role
as
CEO for Credit Suisse Switzerland. Meister has been at
Switzerland’s second largest bank since 2008.
UK
moves
Collins Stewart Wealth Management hired a trio of senior
wealth managers for its 360° Service, the new brand name for the
former
Andersen Chamley business which CSWM acquired in 2010.
Chris Albert joined as the sales director for the 360°
Service, while Rob Bennett and Jasper Walshe joined as business
development
managers.
Albert joined from Equiom Trust, where he was business
development director; Bennett was latterly at Towry Law where he
was a wealth
advisor, while Walshe was most recently at Anglo Irish Bank,
where he was a
private banker.
Tenet Group, one of the UK’s largest advisor support
groups, announced that chief executive Simon Hudson is to step
down.The company has yet to name a successor for Hudson, who
founded Tenet in 1992.
A group of advisors left Dunedin Independent, the
Edinburgh-based wealth management firm that was acquired less
than a year ago
for around £4 million by Helvetia Wealth. The 16 advisors
reportedly defected to new company John Kerr
Financial Services, which trades as Melville Independent.
Butterfield Private Bank named Stephen Murrell as client
director of its property lending team in London.
Murrell was latterly a director at Mitre Capital Partners,
and he has previously worked for Barclays, Westpac and Ansbacher
& Co in
his 30-year career.
Barclays Wealth added Stuart Counsell to its UK and Ireland
private banking advisory
committee, a body comprised of eight members who are charged with
promoting the
firm and helping it to win new business.
Counsell has been specifically appointed to promote Barclays
Wealth in the northern region of the UK and will work closely
with Andy
Houston, head of regions, and his leadership team. Counsell is a
30-year veteran
of Deloitte, having run the accountancy and counsultancy firm’s
network of 17 UK offices outside of London. He was latterly
managing partner in
charge of the firm’s finance and legal division in the UK,
sitting on
the executive committee as part of this role.
The specialist equity fund management firm FOUR Capital
Partners hired James Southern as its new sales director. Southern
will join
FOUR from Allianz Global Investors and will start his new role on
19 September.
Southern has also previously worked at Legg Mason Investments and
Fidelity
International.
Pictet Asset Management, the institutional asset management
business of the Swiss private bank Pictet & Cie, appointed Fawzy
Salarbux
as senior consultant relations manager, to be based in London.
Salarbux was latterly a senior associate at Mercer, where he
was the lead consultant for a number of corporate and local
government pension
fund clients, the firm said in a statement. He has also worked as
an investment
consultant at AonHewitt. Salarbux’s new role will involve working
with key
consultants globally. He reports to Simon Males, head of global
consultants and
chief marketing officer for the UK
& Ireland.
UK-based wealth management firm Ashcourt Rowan appointed
David Archer as director of intermediary sales. This appointment
follows that
of Paul Miles in February, who was brought to the firm from the
discretionary
fund management platform, Parmenion, in order to guide Ashcourt
Rowan’s push
into the intermediary market.
Archer will be working alongside Miles, focused on
stimulating interest from professional financial intermediaries
in the firm's
asset management services. Archer joins from Kleinwort Benson,
where he was the
intermediary sales manager, responsible for gaining business for
the bank from
intermediaries, trustees, fund managers, life companies and UHNW
clients.
Threadneedle Investments appointed Toby Nangle as its new
head of multi-asset in London,
effective January 2012. Nangle was latterly director of both the
multi-asset
and fixed income teams at Baring Asset Management. In his new
role Nangle’s
responsibilities will focus on growing the multi-asset franchise
at
Threadneedle; he will work alongside Alex Lyle, head of managed
funds, and
report to Mark Burgess, Threadneedle Investments’ chief
investment officer.
Merrill Lynch Wealth Management hired David Harrison as a
portfolio manager within the Merrill Lynch Portfolio Managers
business. Based
in London, Harrison
will report to Edward Raymond, senior portfolio Manager, MLPM.
Harrison joined
from Hermes Fund Managers, where he was a portfolio manager,
focusing on the
European and UK
markets. Prior to that role, he worked at Close Wealth Management
in a similar
capacity, responsible for pan-European portfolios.
Barclays Wealth appointed former JP Morgan senior manager
Christian Berchem as head of high net worth within its UK &
Ireland Private Bank, part of a large
hiring drive at the UK
firm. He will be based in London, reporting to
David Semaya, head of UK
& Ireland Private Bank. He starts his role in September. Berchem
worked
most recently as co-head of European sales at JP Morgan after the
acquisition
of Cazenove and as head of European equity sales from 2006 to
2010. Prior to
this he was co-head of equities for Germany at JP Morgan and a
managing
director at Merrill Lynch.
Rowan Dartington, the Bristol-based private client
stockbroker, hired Oliver Cowell as an investment executive.
Cowell joined from
brokerage firm Redmayne Bentley, where he was a senior
stockbroker for two
years, specialising in services to high net worth clients, as
well as setting
up its London
office. Before that, he was at Hoodless
Brennan Stockbrokers.
Sarasin & Partners appointed two new investment managers
to its charity team: Ruadhri Duncan will join on 1 October and
Melanie Roberts
on 14 November 2011.
Duncan
joins from Newton Investment Management, where he was responsible
for
investment management for charities. Roberts also joins from
Newton
where she, like Duncan,
was involved in managing investments for charities.
Openwork, the multi-tie mortgage and financial advice
network, has moved Mark Duckworth to be managing director of
distribution and
marketing. Since November 2010 he had been commercial development
director. In
his new role, Duckworth will be responsible for all elements of
Openwork’s distribution,
which includes advisor recruitment, marketing and the development
of the
network’s overall proposition strategy.
In addition, he will work on developing Openwork’s IFA
network
capability and manage its key corporate accounts.
The UK-based accounting and investment management group
Smith & Williamson has promoted Susan Roller to the position of
associate
tax director in the firm’s Salisbury
office. Roller has worked in private client tax for the last five
years, with a
specialised interest in the taxation of non-UK domiciled
individuals.
Barclays Wealth appointed Andrew Tailby-Faulkes as a
managing director within its wealth advisory business, a role
which he will
take up in September. Tailby-Faulkes was previously a senior
private client
partner at Ernst & Young in the UK, where he had been global
markets leader for private client services since 2007. He has
also worked for
Abacus, Smith & Williamson and KPMG in his prior career.
In his new role Tailby-Faulkes will cover clients including
entrepreneurs, private business owners and family offices, and
will work
closely with Jonathan Burt, who oversees the firm’s wealth
advisory offering
for ultra high net worth clients. Tailby-Faulkes will report to
Rob Withecombe,
head of the wealth advisory division.
Plurimi Capital, the UK wealth advisory firm, appointed
former Clariden Leu senior manager Anthony Bodenstein as a
director. Bodenstein
was previously responsible for India,
Israel and Diaspora
communities at Clariden Leu in London.
Prior to that role, he spent two years in New York as an
investment associate for
HSBC.
RBC Wealth Management appointed Neena Shah and James Hogan
as directors on its London-based Middle East
desk. The pair are former employees at HSBC Private Bank, also
working in the Middle East team at that firm. Shah was a
director,
focusing on high net worth and ultra HNW clients in Lebanon
and Syria,
while Hogan was an associate director, focusing on Saudi
Arabia-based clients.
Brewin Dolphin, the UK-listed investment manager, recruited
a three-strong team from Ashcourt Rowan Asset Management for its
London office. David
Hanrahan joined as divisional director, and Amir Ali and Abigail
Bolt were
appointed as investment managers. Ali and Bolt will report to
Hanrahan, who in
turn will report to Brewin Dolphin’s head of investment
management, David
McCorkell.
Before Ashcourt Rowan, Hanrahan worked in investment
management at Lawrence Graham.
Ignis Asset Management made three appointments within its UK
equity
team.
Mark Holden will manage the £112 million ($179 million)
Ignis UK Focus Fund. Based in London,
he will be working under Mark Lovett, chief investment officer,
equities. Holden was previously a partner, member of
the investment committee and chairman of the equity and bond
committee at
Vestra Wealth. Bilal Raja was hired as a UK equity analyst to
focus on
project-based “deep dive” company analysis.
Finally, Ralph Brook-Fox, the current manager of the UK
Focus Fund, will be moving within the team to run the £173
million Ignis Balanced
Growth Fund. Brook-Fox will continue to manage the UK Focus Fund
until Holden
joins the firm and will also work with Lovett in driving forward
Ignis’
institutional mandates.
Aberdeen Asset Management hired Melissa Reagan as head of
property research for the Americas,
in a bid to boost the firm’s US
presence. Reagan is based in Philadelphia and
reports to Andrew Allen, Aberdeen’s
director of global research.
Reagan joins from LaSalle Investment Management, where she
worked as lead strategist on a multifamily portfolio and guided
the company’s
$2 billion property fund.
Bank of London and The Middle East named Nigel Denison as
head of wealth management – a role which incorporates private
banking and asset
management – while also announcing two other senior appointments.
Denison
is one of BLME’s founding directors, the others being chief
executive Humphrey
Percy and Richard Williams, finance director. Denison will
continue to hold the roles of
head of markets and executive director of BLME in addition to his
new
responsibilities.
GHC Capital Markets, the London-listed investment manager,
appointed Mike Lees as south west relationship manager, a role in
which he will
promote the firm’s offering to IFAs in the south west of England
and south Wales. Lees' prior career includes
roles at Verbatim Asset Management and Sinfonia Asset Management,
where he was
responsible for business development with IFAs.
UK-based wealth manager Brooks Macdonald Asset Management
followed up its recent launch of a new fund management business
with the
addition of Richard Harley to its intermediary sales team. Harley
was formerly
with Hornbuckle Mitchell, where he was a business development
manager
specialising in SIPP, SSAS and retirement options.
Legal & General Investment Management appointed Nick
Griffiths as its new head of global rates.
Latterly co-head of interest rates and global portfolios at
Aberdeen
Asset Management, Griffiths will join the LGIM team in September,
where he will
be working under Roger Bartley, the firm’s head of fixed income.
Switzerland’s
Vontobel Asset Management appointed Sheridan Bowers - latterly of
Hermes Fund
Managers - as director of its UK
and Ireland
business. Bowers previously spent seven years as an associate
director with
Hermes, overseeing UK
consultant relations and client management.
UK-based Eden Financial pressed ahead with its asset
management expansion plans with the appointment of fund managers
Leigh
Himsworth and Dan Roberts. Himsworth and Roberts both joined from
Gartmore,
where they had worked with Ed Rosengarten, who was installed as
Eden’s head of asset
management in February of this year. Both appointees are UK
equity income specialists.
Openwork, the UK-based financial advisory network, promoted
Mary-Anne McIntyre as chief executive from her former position as
chief
operating officer. Prior to joining Openwork, McIntyre worked at
Fidelity
International, where she was head of customer services and
strategic alliances
and is credited with developing the service proposition of
Fidelity’s
FundsNetwork. She previously worked with Paul Bradshaw to
establish the wrap
platform Nucleus. McIntyre has also held senior roles in
companies including
Amvescap, Perpetual and Deloitte, where she spent 12 years,
latterly as group
director of financial services.
Rathbone Brothers announced that its head of investment
management, Richard Lanyon, will step down from his position and
the board next
year; he will however stay on as investment director. Lanyon,who
has been in
the role at the UK-based investment and wealth management house
for ten years,
will be succeeded by the company’s chief operating officer, Paul
Chavasse,
whose position will become vacant.
Allemby Hunt, the UK-based executive search firm, appointed
Lyssa Barber as managing consultant and head of private wealth.
She joined from
Lockwood Gibb & Associates.
Berenberg appointed Richard Brass to its private banking
management team based in London
– a role in which the former client director at Schroders Private
Banking will
work with the management team to drive the strategic direction of
the business.
Brass will be focusing on developing the relationships
between the private wealth market for business leaders,
executives and
entrepreneurs. He is also charged with
developing the entrepreneur’s office and the family office
advisory business,
Consilisto, within the UK
market place.
Middle East
HSBC Bank Middle East appointed Hussain al-Abdullah as head
of retail banking and wealth management in Qatar. He has been at
the firm since
1999.
Merrill Lynch Wealth Management appointed Ahmed Barakat as
market manager for the United Arab Emirates. Barakat joined from
Credit Suisse
Abu Dhabi where he was director of private banking and head of
the Abu Dhabi
representative office. In his new role Barakat is based in Dubai
and reports to
Tamer Rashad, head of Middle East at Merrill Lynch Wealth
Management.
International
Carne Global Financial Services hired John Ackerley as a
director within its Cayman Islands team. Ackerley was latterly
working as a
senior vice president with Maples Finance.
Carey Olsen hired Michael McAuley as counsel to its
litigation department in Guernsey. Recent offshore trust
experience includes
seven years at Appleby in Bermuda where he
practised in all areas of contentious and non-contentious trust
and pensions
law.
Bank of America Merrill Lynch hired Hans Diederen, latterly
CEO of Asia private banking at ABN AMRO, as managing director and
head of
Southeast Asia advisory at its wealth management business.
Diederen will be
based in Singapore and reports to Michael Benz, the firm's head
of Asia Pacific
wealth management.
Mercer appointed Cara Williams as global head of its wealth
management business, operating from London. For the past six
years, Williams
had been global chief operating officer at the firm’s investment
consulting
arm; she will continue in her role as global head of technology
solutions.
Private client law firm Maitland made three hires in London
and Cape Town: John Langan joined after five years as a partner
at Withers
advising asset managers on collective investment vehicles for
high net worth
individuals and family offices; Hed Amitai, who joins as a
partner in the
private client department, was formerly at PricewaterhouseCoopers
Legal, where
he set up and led the private wealth structuring department.
Finally in South
Africa Paula Bagraim joined from multi-family office Stonehage,
where she was a
director.
Baker Tilly International appointed Eyal Horowitz, chief
executive and managing partner of Baker Tilly in Israel, as the
next EMEA
regional chairman, succeeding Ted Verkade.
Switzerland
Credit Suisse named Marcel Kreis as chairman of private
banking Asia-Pacific and Francesco de Ferrari as head of private
banking
Asia-Pacific, effective 1 January 2012.
Kreis was previously head of private banking Asia-Pacific;
De Ferrari will take on this role. De Ferrari is currently head
of private
banking Italy and will relocate to Singapore on 1 August to
assume the role of
deputy head of private banking Asia-Pacific before taking up the
more senior
role on in January. He will report to Walter Berchtold, chief
executive of
private banking, and Osama Abbasi, chief executive of
Asia-Pacific.
The former chief of German central bank Bundesbank, Alex
Weber, was cleared to cleared to join UBS, which tapped him as
its next chairman
in early July. Weber stepped down as Bundesbank chief at the end
of April.
Weber plans to join the UBS board of directors next May and
become chairman in
2013. Kaspar Villiger will step down as chairman in 2013. Weber
was president of the Deutsche Bundesbank from 30 April
2004 to 30 April 2011. Before that, he was a professor of
economic theory and
international economics, teaching at various universities in
Germany. In
addition, he was the director of the Centre for Financial Studies
in Frankfurt.
Merrill Lynch Wealth Management made a trio of hires to
expand its Swiss private banking operations in Geneva, appointing
Concetta
Caruso as chief operating officer, Sophie Chapuisat as global
head of
intermediary business and Christopher Robinson as head of legal,
all at Merrill
Lynch Bank (Suisse).
Caruso was latterly at Capital Group, where she was global
head of global institutional operations, responsible for
supporting the firm’s
business development. Chapuisat joined from Banque Heritage
(Suisse) where she
was chief strategy officer responsible for business strategy and
development. Robinson was latterly group chief compliance officer
at
Hinduja Bank, before which he worked at Union Bancaire Privée for
ten years as
deputy chief compliance officer and deputy chief of legal.
REYL Group acquired Zurich’s Solitaire Wealth Management and
named the latter’s founder, Thomas Dürmüller, to head up
operations in Zurich.
Fleming Family & Partners acquired Zurich-based wealth
manager Gebhard, Corrodi and Partners and named Urs Gebhard and
Christoph
Corrodi to join the board of FF&P.
The former chief executive of RBS Wealth International, Gary
Müller, was named head of strategy Europe at EFG International.
Müller also
joined the management committee of EFG Bank, the firm’s Swiss
subsdiary. Müller
will support Alain Diriberry, CEO of the European business, in
setting strategy
for the business and then implementing it.
North America
Gibraltar
Private Bank appointed Jonathan Hill as investment strategy
specialist for its Coral Gables, Florida
headquarters.
Hill
previously served as a trader analyst with the Federal Reserve
Bank of New York's treasury
market policy group and cross market monitoring group. Prior to
that, he was a
trader and junior fund manager at BAC Florida Investments in
Miami
and an analyst at ABN AMRO in London and New York. At his new
role, he will be working within the bank's wealth management
division.
Founders
Financial Network added financial advisory veteran Jovita Honor
to its growing
San Francisco Bay Area team.
Honor
joined from Prialta Advisors where she served as founding
principal. In her new
capacity, she will be divided between the firm's Cupertino
and Palo Alto
branches, with a focus on women with special tax complexities,
such as a
divorce or a company liquidity event.
Boston
Private Bank & Trust Company appointed Thomas Anderson as senior
vice
president and chief investment officer. Anderson
latterly worked at State Street Global Advisors, where he was
vice president,
global head of ETF strategy and research.
He
joined the investment management and trust team at Boston
Private, charged with
researching strategic investment opportunities for both
individual and
institutional clients.
Fieldpoint
Private Bank appointed John Palazzetti as director of private
banking and
advisory.
Palazzetti
previously served as managing director and director of
professional development
at Morgan Stanley Smith Barney. In his new role, he will oversee
the firm's
branch expansion and recruitment initiatives for the private
banking, wealth
management, business banking, family office, and trust services
divisions. In
addition, he will also serve as president of Fieldpoint Private
Securities,
which is currently in transition following its takeover of
broker-dealer Nutmeg
Securities in June.
First Republic
Bank named Dale Smith as a managing director at its San Diego
office.
Prior
to First Republic,
he was with Wells Fargo Private Mortgage Bank as vice president
and branch
manager in San Diego.
UBS
added two advisors with a combined production of $1.2 million and
assets of
$100 million to its Wealth Management Americas business. Howard
Leon and
Anthony Mazzo transferred to UBS' Boca
Raton office from Oppenheimer, reporting to Michael
Ludwig, the branch manager.
Bob
Moore will leave his post as managing director of the Butterfield
operations in
Guernsey to lead the development of the firm’s
international trust business.
As
executive vice president and head of group trust, Moore
will oversee the group’s expansion in the field from its six
jurisdictional
offices in Bermuda, The Bahamas, Cayman, Guernsey,
Switzerland and the
international private office in London.
Moore’s former deputy, John Robinson, takes over his
responsibilities at Butterfield Bank in Guernsey.
Robinson, who is chairman of the Association of Guernsey Banks,
joined the firm
in 2001 from CIBC.
US
Bank appointed Kurt Silberstein as managing director of
alternative investments
for Ascent Private Capital Management, its unit for clients with
over $25
million in investible assets.
In
this role Silberstein will head up Ascent’s alternative
investment team, which
sources, researches, and provides due diligence for alternative
investments
such as hedge funds, private equity, venture capital, real
estate, and other
structures. He is also charged with building the team.
He
joins from California Public Employees Retirement System, where
he was senior
portfolio manager for global equities, and will report to Dan
Rauchle, Ascent's
chief investment officer.
Manulife
Asset Management added to its equity capabilities with a new US
large-cap growth team based in Charlotte, North
Carolina.
The
four-strong group of investment managers will be led by Shannon
Reid, senior
managing director and senior portfolio manager. He latterly held
a similar
position at the strategic large-cap growth equity team at Wells
Capital
Management, which he joined when it acquired Evergreen
Investments in 2009.
Joining
him are three portfolio managers who have worked with him for
over ten years:
Jay Zelko, David Chow and Curtis Ifill. Like Reid, they all
joined Wells
Capital after the purchase of Evergreen Investments, where Zelko
started in the
late 80s and Chow and Ifill in the mid-90s.
HSBC
Private Bank appointed Cecilia Smith - latterly of BNY Mellon -
as senior vice
president and relationship manager.
Smith
is based in Miami and will be responsible for
the bank's high net worth clientele in the South Florida
area. She joins from BNY Mellon, where she served as senior
director in the
wealth management division. Prior to that, she held various key
positions in
the high net worth segment of Wachovia Bank. At HSBC, she reports
to Victoria
Garrigo, southeast regional manager of HSBC Private Bank.
Raymond
James hired a team of high net worth advisors with over $500
million in assets.
Effective
immediately, Thomas Seiler and Patrick Seiler become part of the
company's Newton, Pennsylvania
operations. Thomas started out at Merrill Lynch in 1990 before
joining Smith
Barney in 2005, while Patrick began with AG Edwards in 1995 and
then to Merrill
Lynch. The two transitioned to Smith Barney together, where they
focused on
high net worth clients and their families.
In
their new posts they will be working closely with Ryan Wayne,
financial
advisor, Nicole Morawski, senior registered service associate,
and Ross Hart
and Terri Schafer, client service associates.
Kansas-based
American Century Investments added to its international credit
team with the
promotion of Simon Chester to the role of portfolio manager in
London,
following ACI’s receipt of regulatory approval from the UK’s
Financial Services Authority to manage
investment portfolios from its London
office.
Chester joins senior portfolio manager John Lovito and
portfolio manager Federico Garcia Zamora on the London-based
international
fixed income team, which invests in corporate securities outside
of the US.
First
California Financial Group appointed Gilbert Dalmau as executive
vice president
and chief banking officer of First California Bank.
Dalmau
stepped in from Americas United Bank, where he was president and
chief
executive. He also previously served as president of the Southern
California
region for First Bank & Trust of St
Louis.
Tompkins
Financial Advisors, the wealth management arm of New York
financial services firm Tompkins
Financial Corporation, appointed Stephen Krauss as senior wealth
advisor.
Fidelity
Investments appointed Scott Couto as president of Fidelity
Financial Advisor
Solutions, formerly Fidelity Investments Institutional Services.
Cuoto
is the interim leader of the division and was previously the
executive vice
president for product management and marketing. Before joining
Fidelity, he
served as chief operating officer for Evergreen Investment
Management Company
and in various key roles at Liberty Funds in Boston. He reports
to Gerard McGraw, the
president of Fidelity Institutional.
Deborah
Fuhr, global head of exchange-traded funds research at BlackRock
and one of the
world’s top experts in the field, is leaving the company.
It
is unclear what Furh's next move will be. She previously worked
with ETFs at
Morgan Stanley for 11 years before joining Barclays Global
Investors in
September 2008, which was acquired by BlackRock a year later.
Sloane
McCarron Capital Advisors, the newly-established wealth manager
and
multi-family office in Massachusetts,
hired Chris Pellegrino as managing director and chief investment
officer.
Pellegrino
joins from BNY Mellon and Standish Mellon Asset Management, where
he led a team
with $30 billion in assets under management. He is a member of
the Boston
Security Analyst Society and was chairman of its fixed income
committee between
2007 and 2011.
The
firm was launched last month in Quincy,
Massachusetts, by Jonathan Sloane
and Dennis McCarron.
First Republic
hired David Siebenlist as a senior relationship manager to focus
on clients in San Francisco and Marin counties, out of the
bank’s
headquarters in San Francisco.
Before
joining First Republic, Siebenlist worked at Bank of
America in global wealth and investment management. Before that,
he was at
Wells Fargo in the San Francisco private banking
group and Citigroup in New York City and San Francisco.
US
Bank appointed Michael Ott as central region president for the
private client
reserve unit.
Ott
adds to his current position as the Twin Cities (Minneapolis
and St Paul, Minnesota) market leader of the same
division. In his expanded role, he will lead a team of more than
300
investment, trust, private banking, advisory, and financial
planning
professionals representing over $15 billion in assets under
management. Prior
to US Bank, he was a managing partner at Somerset Asset
Management in Minneapolis.
Gibraltar
Private Bank & Trust hired Randall Vitale as senior vice
president, market
executive for its Broward County,
Florida operations.
Vitale
joined from SunTrust, where he served for the last 10 years in
various wealth management
roles, most recently as the first vice president, client advisor
for the legal
specialty group. In his new role, he will be responsible for
managing the
bank's existing relationships and developing new business within
his area.
UBS
Wealth Management Americas appointed Ajay Mehra as head of
manager and fund
research and managing director.
Mehra
previously served as portfolio manager and partner at Columbus
Nova, where he
managed a global long-biased equity fund and worked with
investment clients in
emerging markets.
At
UBS, Mehra will be responsible for delivering investment advice
and guidance to
financial advisors and clients, covering over $100 billion in
institutional and
retail managed separate account assets and more than $200 billion
of mutual
fund assets. He reports to Tony Roth, head of wealth management
strategies.
Carne
Global Financial Services hired John Ackerley as a director
within its Cayman Islands team. He joined fund directors Peter
Heaps
and Roisin Cater in providing governance services to
Cayman-domiciled funds.
Before
joining Carne, Ackerley was working as a senior vice president
with Maples
Finance.
UBS
Wealth Management Americas brought in eight new advisors with a
combined total
of more than $1 billion in assets and $9.25 million in
production.
James
Mahoney joined the Swiss bank's Palm Beach
office in Florida
from Bank of America Merrill Lynch. He has a T12, or net income,
of $1.9
million and assets under management of $329 million. In his new
role he reports
to Bradford Smith, the complex director.
The
Lighthouse Group, composed of Paul Stanislau, Alert Lucci, and
Peter Navaretta,
joined the Stuart, Florida
branch from Morgan Stanley Smith Barney. The group has a T12 of
$1.25 million
and AuM of $161 million. They report to Timothy Durno, the branch
manager.
Also
from MSSB is Tate Wesley, who joined the Oakbrook
Terrace, Illinois
branch. Wesley has a T12 of $3.2 million and AuM of $227 million.
He reports to
Dennis Christensen, the complex director.
Father
and son team James Fleck and Jason Fleck of The Fleck Group are
now part of
UBS's Bend, Oregon office from DA Davidson. The duo has
a T12 of $1.2 million and AuM of $160 million. They report to
Justin Steers,
the Oregon
complex director.
Finally,
joining the Chicago
Tower office is Mark
Waldman, who came from Credit Suisse. Waldman has a T12 of $1.7
million and AuM
of $151 million.
A
former vice president at JP Morgan launched an independent
advisory firm in Chicago, specializing in
affluent families.
Avocet
Capital Management is led by Alan Loewy, a former VP in private
banking at JP
Morgan, where he managed some $300 million in client assets. He
joined JP
Morgan in 2009 from the investment management division of Goldman
Sachs.
CONCERT
Global Group named industry veteran James Lynch as the new
president of its
wealth management division.
Lynch
previously represented Wall Street giants such as Morgan Stanley
and Bank of
America. In his new job, he will manage relationships with
breakaway brokers
and registered investment advisors who are disenfranchised with
the wire house
firms and want to set up their own businesses, the firm said.
RBC
Wealth Management appointed former Kleinwort Benson private
wealth head Martin
Heale as head of Americas
for its UK
division.
Heale
will lead the team of relationship managers responsible for RBC
Wealth
Management UK’s US, Canadian, Latin American and Caribbean
client base. He joins as a managing director based in London,
reporting to Philip Harris, head of
private client wealth management, RBC Wealth Management UK.
Beverly
Hills Wealth Management named Anita Brown as senior vice
president and wealth
management advisor.
Brown
joined from Morgan Stanley Smith Barney, where she served as a VP
and financial
advisor. She also previously worked for Citigroup Trust and Wells
Fargo Bank as
a high net worth portfolio manager. Her new role takes effect
immediately.
TD
Wealth Management appointed Stephen Bostic as team leader for
Northern
New England.
Bostic
joined the bank in 1999 and most recently served as small
business market
manager for Massachusetts and Rhode Island.
Northern
Trust promoted William Morrison, currently chief financial
officer and
executive vice president, to president and chief operating
officer, a transfer
that will be completed on 1 October.
In
his new role as COO, Morrison will have the company’s heads of
personal
financial services, corporate and institutional services, global
investments
and technology reporting to him. He will continue to answer to
Frederick
Waddell, chief executive and chairman of Northern Trust.
The
COO role is a newly-created position, marking an expansion at the
Chicago-based
firm. Morrison has spent 15 out of his 38 years in the business
at Northern
Trust.
To
replace him as chief financial officer, the firm hired Michael
O’Grady, who
will join from Bank of America Merrill Lynch in August. O’Grady
was latterly
managing director and responsible for the depository institutions
group for the
Americas
at BoA Merrill Lynch.
Franklin
Templeton Multi-Asset Strategies, the asset management group’s
global
investment platform, expanded its global tactical asset
allocation team with
the appointment of five new investment professionals.
Todd
Saunders, senior global tactical asset allocation portfolio
strategist,
Alexander Hug, portfolio strategy analyst, as well as Victoria
Quach, Billy
Tranand and Cindy Wu, all quantitative research analysts, will
report to Samer
Habl, managing director of global tactical asset allocation.
NWK
Group, the registered investment advisor that caters to high net
worth
individuals and their families, appointed Christine Lim as wealth
manager.
Lim
joined from Charles Schwab, where she served as vice president of
client
services in San Francisco
for nearly five years. NWK Group has an estimated $32.6 million
in assets under
management.
WSFS
Financial Corporation, the parent firm of WSFS Bank, created a
trust advisory
board composed of seven members.
Acting
as chairman of the trust board is John Field, a managing partner
of Greenfield
Associates, who was also formerly at JP Morgan & Co for 33 years.
Joining
Field are Timothy Cashman, John Herdeg, John Nesbitt, Donald
Delson, Zissimos
Frangopoulos and Calvert Morgan.
Cashman,
Herdeg, and Nesbitt are the three organizers of Christiana Bank,
while Delson,
Frangopoulos and Morgan are directors at WSFS Financial
Corporation.
Frangopoulos joined the WSFS board as part of the takeover of
Christiana.
Nancy
Kistner of US Trust was chosen as 2012 chair-elect of the board
of directors of
the Certified Financial Planner Board of Standards.
Kistner,
who is managing director and wealth planning solutions market
director at US
Trust, Bank of America Private Wealth Management in New York,
will begin her
duties as chair-elect on 1 January 2011. She takes over the
chair-elect
position from Alan Goldfarb, who will begin his term as chair on
the same date.
Three
former executives at Old Second National Bank launched a new
advisory firm in Illinois.
Clear
Perspective Advisors was founded by principals Stewart Beach,
Michael Morcos
and Jonathan Hylton, who are joined by Nicholas Latko. All four
were at the
wealth management group at OSNB, with Beach serving as executive
vice president
and head of the division.
The
firm is a registered investment advisor operating in Aurora
and St Charles, Illinois, which provides financial planning
strategies, investment advice, asset allocation and portfolio
construction
recommendations to individual and institutional clients.
The
Colorado-based independent wealth management firm Crestone
Capital Advisors appointed
Michael Sherman as president of the firm.
In
his new role, Sherman
will be accountable for the implementation and execution of the
firm's business
plans, and will report to Eric Kramer, the chief executive
officer of Crestone.
Sherman was
already a principal of Crestone, and has been part of the firm’s
investment
committee since 2002.
Wall
Street veteran Elle Kaplan launched a New York-based boutique
investment
company that specializes in the needs of individual investors.
Lexion
Capital Management was founded in November 2010 and was initially
open to
accounts of personal friends and family, but is now being offered
to other
investors, the firm says.
Presently,
the company is preparing to introduce a new division dedicated to
investors
with at least $150,000 in their portfolios before the end of the
year. Plans to
launch Elle Kaplan Quant, a hedge fund that operates via
proprietary trading,
are also in the works for 2012.
Berkshire
Bank appointed Allan Costello as senior vice president and audit
and compliance
manager for its risk management division.
Costello
spent the last three years as director at Accume Partners and has
also worked
for the likes of Charter One Bank, Rhinebeck Savings Bank, Troy
Savings Bank,
and Key Corporation. In his new position, he will lead
Berkshire's
internal audit and compliance teams throughout the company.
Butterfield
Fulcrum, the European financial services firm that specializes in
alternative
assets, hired Jeffrey Strauss as president of its US
operations, based in New York.
Strauss
most recently served as global head of sales at HedgeServ Corp.
He also
previously served as managing director of business development at
Butterfield
Fulcrum in the past.
On
his return to Butterfield, he will be responsible for all aspects
of US operations,
including sales, marketing, operations and growth. He reports
directly to Glenn
Henderson, chief executive.
Capital
Guardian's Intracoastal Family Office, based in West Palm Beach,
expanded its
team with the appointments of Margo Kohlhoff as relationship
manager and
Kathryn Crabtree as technical specialist.
Kohlhoff
joined from local wealth management firm Carl Domino where she
was director of
marketing and manager for compliance and operations. Crabtree is
a recent
graduate from Palm Beach
Atlantic University
and has completed her internship with IFO.
The
California Bankers Association selected Mary Allis Curran, who
heads up Union
Bank’s private bank, as chair-elect for 2011-2012, and as chair
for the
2012-2013 board.
Curran
heads the private bank at Union Bank, overseeing the private
banking, wealth
planning, and trust and estate services for HNW individuals, non
profits,
foundations, endowments, and select professional service firms.
Gibraltar
Private Bank and Trust senior vice president Danilo Rodriguez
resigned.
The
decision came at a troubled time for the bank after receiving a
cease and
desist order last year owing to problem assets and anti-money
laundering
compliance issues. The company, along with TD Bank, had been
linked to a $1.2
billion Ponzi scheme by disbarred attorney Scott Rothstein.
St
Louis-based BAM Advisor Services made Madaline Creehan, Joe
Goldberg and Al
Sears principals of the firm, and appointed Jeff Remming as its
chief operating
officer.
Creehan,
Goldberg and Sears all continue in their current capacities as
well as being
principals. Creehan is a wealth advisor at Buckingham Asset
Management, which
is part of the same group of companies; Goldberg is director of
retirement plan
services for BAM; and Sears is the director of fixed income for
BAM Advisor
Services.
As
COO, Remming joins the firm from a CPA firm where he was an
accountant.
Russell
Investments, the Seattle-based independent advisor, named Len
Brennan as
president and chief executive of the company.
Brennan
took over from Andrew Doman, who moves on to become chairman of
the board.
Brennan
first joined Russell in 1985 and stayed until 2005, when he moved
to Rainier
Investment Management to serve as president and chief executive.
He recently
returned to the firm as CEO of its Europe, the Middle East and
Africa business, a job he will continue doing in parallel
with his new responsibilities.
Barclays
Wealth hired Hans Olsen – latterly of JP Morgan - as managing
director and head
of investment strategy for the Americas.
In
this newly-created role, Olsen will help develop the firm's asset
allocation
with a focus on delivering regionally-customized investment
strategies for
wealthy clients in America.
He will be based in New York
and report to Aaron Gurwitz, chief investment officer at Barclays
Wealth.
Olsen
joined from JP Morgan, where he had served as chief investment
officer for
private wealth management since 2007.
HighTower
brought in a new advisor team to expand its high net worth
business in Virginia.
VWG
Wealth Management is led by John Verfurth, Richard Weeks, and
Jeff Grinspoon,
who will all be serving as managing directors and partners at
HighTower. VWG is
a Washington, Virginia-based group with around $600 million in
assets under
management; its clients usually have between $1 million and $10
million in
investible assets.
All
three were latterly at Morgan Stanley Smith Barney. Verfurth
spent all of his
16 years in the financial services industry at MSSB, while both
Weeks and
Grinspoon joined the brokerage giant in 2001 from Legg Mason.
Nashville
Bank & Trust promoted two bank staff to senior positions.
Jamie
Nicholson moved up from being a senior wealth advisor to senior
vice president
and team leader for wealth management services. Andrew May, the
chief financial
officer, expanded his role to include being team leader of the
portfolio
strategies unit.
Bank
of America’s head of legacy asset servicing, Terry Laughlin, is
set to become
the bank’s chief risk officer this autumn, among other
group-level changes at
the financial services giant.
Lauglin’s
move is expected be completed in September and the global
compliance executive,
Paula Dominick, is filling in on an interim basis. BofA’s former
chief risk
officer, Bruce Thompson, took on the role of chief financial
officer, where he
replaced Chuck Noski.
Meanwhile,
Noski began his new work as vice chairman. Based in Los Angeles,
he will be involved in strategic
and capital management matters, the resolution of legacy issues
and client
development activities.
In
another development, Gary Lynch began working as global head of
legal,
compliance and regulatory relations - a newly-created role at the
firm. He was
latterly vice chairman of Morgan Stanley in London,
and has now moved to New York.
Citi
Private Bank hired Perry Brown from Northern Trust as a private
banker and
managing director in Palm Beach,
Florida.
Brown
held various roles at Northern Trust since joining the firm in
1999. Most
recently he was a managing director in Wealth Advisory Services
for the Palm Beach region. At
Citi he reports to Mark Maller, head of the company's private
bank in Florida.
HSBC
Global Asset Management appointed Deborah Hazell as regional head
of its North America unit.
Hazell
joined from Fischer Francis Trees & Watts where she was president
and chief
executive until May 2011. In this new role, she will be
responsible for the
company's development strategy in the US,
Canada, and Bermuda. She reports to Kevin Martin, head of
retail
banking and wealth management and marketing for North
America.
Morgan
Stanley hired Devon Baranski to lead its wealth management
operations in the US
Southwest.
Baranski
stepped in from Leerink Swann, where he served as wealth
management head. He
also previously worked at the private banking and investment
group of Merrill
Lynch. He will be based in Los Angeles.
UK-listed
Aberdeen Asset Management hired Melissa Reagan as head of
property research for
the Americas, in a bid to
boost the firm’s US
presence.
Reagan
will be based in Philadelphia and report to
Andrew Allen, Aberdeen’s
director of global research. She will join a research and
strategy team that
after her inclusion on 20 July comprises 13 individuals in
eight
countries.
The
company confirmed that it is planning to make more additions to
its Philadelphia office later
this year.
Atlanta-headquartered
SunTrust Banks named Ernest Dawal as chief investment officer for
its private
wealth management and institutional investment solutions
businesses.
Dawal
most recently served as executive vice president and senior
director of
investments at Wells Fargo Wealth Management. He was also the CIO
for the
wealth management unit of Wachovia before it merged with Wells
Fargo. In his
new role, he is responsible for all business units under the two
divisions. He
reports directly to Willem Hattink, the head of private wealth
management and
institutional investment solutions.
Russell
Investments promoted John Harrell and Paul Izzo to the role of
national account
executives, newly-created positions at the firm to drive its
advisor-sold
business in the US
bank channel.
During
his career before Russell, Harrell worked at Dawson where he was
involved in the launch of
the bank investment platform.
Izzo,
who is based in Houston, manages Russell's bank
channel distribution program in the eastern United States. Prior
to joining
Russell in 2009 as a regional director, Izzo served as regional
vice president
with AXA Equitable.
TD
Wealth Management appointed Arthur Wasserman as a vice president
and private
banking officer at its Providence,
Rhode Island branch.
Wasserman
came to the firm from BNY Wealth Management, and has over 25
years of wealth
management experience. He will be working with high net worth
individuals and
institutions throughout the area.
UBS
Wealth Management Americas hired a duo from Morgan Stanley Smith
Barney to
strengthen its Arizona
business.
Matthew
Meyer and Christian Stout operate under the name Meyer Stout
Group and
reportedly have $1.3 million in annual fees and commissions and
$133 million in
assets under management. At UBS they report to Charlie Cajero,
branch manager.
Bank
of Guam named Amoretta Carlson as vice president of BG Wealth and
Trust
Departments.
Carlson
joined Bank of Guam in 1983 and served the business development,
customer
service, and real estate units before moving to the trust
division in 2005. She
is joined by Ann Roth as vice president, and Mike San Nicolas and
Alexandra
Taitano as assistant vice presidents. The trio came from BG
Wealth
Management/Money Concepts.
City
National Bank bolstered its Manhattan
operations by adding two bankers who specialize in entertainment
industry
clients.
Stepping
in from Wells Fargo in New York
is Boris Gluzberg as vice president and senior relationship
manager. He
specializes in the affairs of ultra-wealthy families and has
previously worked
for both BNY Mellon Wealth Management and Citigroup North
America. He reports
to Rich McCune, the senior vice president who heads City
National's NY
entertainment division.
Joining
the firm from Comerica Bank in Los
Angeles is David Oliver as vice president and
relationship manager. He brings extensive experience as a banker
to the film
and television industry. He reports to David Acosta, senior vice
president and
team leader in New York.
Toronto-
and New York-listed Sun Life Financial announced a number of
management
changes, including that chief executive Donald Stewart will
retire on 30
November, with Dean Connor, currently chief operating officer,
due to replace
him.
The
financial services giant said Stewart was retiring in line with
company policy,
and would work closely with Connor until the latter gentleman
stepped in as
president and CEO on 1 November.
In
other changes, James Sutcliffe, currently chairman of the risk
review
committee, will takeover from Osborne as the firm’s chairman on 1
December.
UMB
Bank appointed Todd Duncan as head of its corporate trust and
wealth management
business in Colorado.
In
this expanded role, Duncan will be responsible for investment and
wealth
management planning in the Colorado market while maintaining his
current
position as head of the corporate trust division in St Louis,
Kansas City,
Denver, Indianapolis, Wichita, and Oklahoma. He will relocate to
Denver later in the
summer.
Northern
Trust named Richard Leider as vice president and wealth
strategist for its San Francisco office.
Leider
stepped in from Tano Capital, where he led the global real estate
and private
equity practice. Earlier, he headed his own institutional asset
management
advisory firm, the Leider Group. He reports directly to Tim
Geraghty, the
region president.
Europe
Claude Chene,
latterly chief executive and chairman of AllianceBernstein, was
appointed to join
Ignis Asset Management as global head of distribution and board
member in
October. He reports to Chris Samuel, CEO of Ignis.
AllianceBernstein
hired three new sales specialists: Mirko Boettcher was named head
of European
third-party distribution; Gunnar Knierim was appointed as an
advisor for
Germany and Elizabeth Para joined as product manager, business
manager.
Boettcher spent the past decade at Schroders Investment
Management as global
relationship manager within the financial institutions team,
Knierim latterly
held senior sales roles at Pioneer Investments' German arm, and
Para was most
recently a currency investment strategist at London-based Overlay
Asset
Management.
Bruno Vanier,
co-chief investment officer at Edmond de Rothschild Asset
Management, left the
company at the end of July.
UniCredit appointed
Helmut Bernkopf as head of its private banking division,
reporting to general
manager Roberto Nicastro. From September 2008 Bernkopf was head
of corporate
and investment banking at UniCredit's Bank Austria unit and a
member of the
Austrian bank's management board.
Richard Evans
resigned from his position as co-manager of Martin Currie’s
Asia-Pacific fund,
effective 30 September. He joined the firm in 2004 and will be
replaced by Paul
Danes who moves to the Asia team. Danes joined Martin Currie’s
Japan team in
2007, before which he managed Japanese funds for Nordea
Investment Funds in
Luxembourg.
Credit Suisse hired
three bankers for its Spanish private banking arm: former M&G
Valores
analyst Mariano Alierta Sancho and former Caixa and Morgan
Stanley private
banker Rocio Ceron Sanchez as client advisors; UBS banker
Veronica Lopez-Ibor
Vega-Penichet for the fund management arm of its private bank in
Spain.
Crédit Agricole
hired Bernard Delpit as its new group finance director, effective
29 August
2011, replacing Bertrand Badré, who is leaving the Crédit
Agricole Group after
four years. Delpit was latterly deputy CEO and CFO of the La
Poste group, which
he joined in June 2009. In his new role Delpit reports to Michel
Mathieu,
deputy CEO of Crédit Agricole in charge of central functions,
insurance and
asset management.
Lombard Odier
Investment Managers hired Donato Savatteri as country head in
Italy (based in
Milan) and Frédéric Cruzel as head of sales in France (based in
Paris). Savatteri
was latterly commercial director for Franklin Templeton
Investments in Italy,
having previously worked for UBS, Crédit Agricole and JP Morgan.
Cruzel was
most recently deputy sales director for France at Amundi Asset
Management. Both
appointees will report to Marius Wuergler, who is responsible for
the company’s
European sales efforts.
Investec Trust named
Natacha Onawelho-Loren, who will be based in the firm’s Geneva
office, as head
of legal. In her previous role, Onawelho-Loren held a similar
position in the
Geneva branch of another international trust group.
Close Asset
Management’s head of wealth management, Steven Mendel, left the
company and was
replaced by Andrew Fay, former chief executive of Cavanagh.
Mendel began at
Close Asset Management in November 2009.
Peter Casanova took
over as head of equity research at Bank Sarasin & Co, replacing
Rainer
Männle, who moved to lead the equity team in asset management at
the Swiss
bank. Casanova reports to Jan Poser, head of research and chief
economist at
Sarasin. He joined from the Luzerner Kantonalbank, where he was
in charge of
research and investment policy.
Neuberger Berman
appointed Marco Avanzo Barbieri as senior vice president of
Italian
distribution. Avanzo Barbieri was previously a sales and client
service
executive at Western Asset Management. In his new role he reports
to Dik Van
Lomwel, managing director and head of Europe and Middle East.
Kedge Capital
Holdings, the Jersey-listed holding company for the Bertarelli
Family
Investments, appointed Stefan Meister as COO, who will take
office in
September. Meister replaces Phil Swan, who is taking on a
non-executive
supporting role for the Bertarelli family members, the
Swiss-Italian
billionaire clan.
JP Morgan Private
Bank in France added Francois-Xavier Cuvelier and Nathalie Conte
as private
banker and senior investor respectively to be based in Paris.
Cuvelier was
latterly a private banker at Lazard Frères Gestion for five
years. Meanwhile
Conte joined from Merrill Lynch Bank of America’s global wealth
management unit
where she was a financial advisor for fifteen years. In their new
roles the
pair report to Jean-Baptiste Douin, head of the private bank in
France.
The Guernsey-based
unit of Butterfield Bank promoted senior manager Richard Saunders
to head of
European asset management. Saunders joined Butterfield to lead
the Guernsey
investment team in 2000.
State Street Global
Advisors appointed Kevin Thomson and Adam Sadiq as sales
directors for Europe,
Middle East and Africa. The new additions are based in SSgA's
London office and
responsible for the distribution of liquidity products across the
EMEA region.
Both answer to Jennifer Hole, who is regional head of the
company’s cash
business.
Merrill Lynch Wealth
Management appointed Amilcare Police, latterly at HSBC as EMEA
head of equity
derivatives sales and multi-asset third-party distribution sales,
as head of
EMEA (Europe, Middle East and Africa) credit and banking, based
in London.
Police reports to Ileana Musa, head of international credit and
banking, and
locally to David Jervis, head of Merrill Lynch Wealth Management
EMEA.
Credit Suisse named
Antonio Viana-Baptista as chief executive of the bank's
operations in Spain and
Portugal, replacing Abril-Martorell, who stepped down from the
position in
March and continued to serve the company as a senior advisor.
Viana-Baptista
reports to Fawzi Kyriakos-Saad, CEO of EMEA. Viana-Baptista was
latterly in the
telecommunications and banking sectors, having previously been an
executive
board member at Banco Portugues de Investimento and a partner in
the Iberia
office of McKinsey & Co. He is currently a non-executive director
of the
companies Semapa and Jeronimo Martins.
UBS appointed
Philippe de Loubens de Verdalle as co-head of the family office
team at UBS
Wealth Management in Paris. Latterly at HSBC-CCF for 18 years, de
Loubens de
Verdalle was most recently a managing director at Nobel, the HSBC
France
subsidiary.
Societe Generale
appointed Bruno Prigent as head of Societe Generale Securities
Services,
effective 30 September 2011. He replaces Alain Closier, who will
leave the
group next October after 34 years to give a new direction to his
career.
Berenberg added
Matthew Stemp to its London team. Besides his responsibility in
London, Stemp
will also work with Berenberg Asset Management in Hamburg, to
develop its
presence among UK institutional clients. Stemp previously spent
17 years at UBS
Global Asset Management, latterly in charge of developing and
managing all
client relationships in the UK.
Goltsblat BLP
appointed Evgeny Timofeev as a partner and head of its
Russian/CIS tax
practice. Timofeev joins from Salans, where he was a partner in
the Moscow
office and co-head of the firm’s global tax practice.
Asia-Pacific
Credit Suisse named Marcel Kreis as chairman of private
banking Asia-Pacific and Francesco de Ferrari as head of private
banking
Asia-Pacific from 1 January 2012. Kreis previously had been head
of private
banking Asia-Pacific; De Ferrari will take on this role. De
Ferrari is
currently head of private banking Italy
and will relocate to Singapore
on 1 August to assume the role of deputy head of private banking
Asia-Pacific
before taking up the more senior role on in January. He will
report to Walter
Berchtold, chief executive of private banking, and Osama Abbasi,
chief
executive of Asia-Pacific.
Mercer promoted Russell Clarke, the chief investment officer
for Asia-Pacific, to the new role of global CIO, mainstream
assets. Clarke is
based in Australia
and reports to Andrew Kirton, the London-based global CIO.
Meanwhile Cara
Williams took up the role of global head of the wealth management
business.
Williams was previously the global chief operating officer at
Mercer's
investment consulting arm.
Bank of America Merrill Lynch hired Hans Diederen as
managing director and head of Southeast Asia
advisory under the wealth management division. Diederen is now
based in Singapore and
reports to Michael Benz, head of Asia Pacific wealth management,
for the role.
He was previously the chief executive of Asia private banking at
ABN AMRO in Hong Kong.
London-headquartered Western Asset Management named
Chia-Liang Lian as head of investment management in Asia,
excluding Japan. Lian
joined from Pimco, where he was in charge of the emerging Asia
tams in Singapore. He
remains in Singapore
for his new role.
Singapore-based United Overseas Bank said it plans to grow
its private banking arm to take advantage of the growing number
of wealthy
individuals in Singapore
and the region. UOB, the city-state's third largest banking group
by assets,
intends to increase the number of its private bankers to about
200 by 2016 from
more than 40 currently.
JP Morgan Private Bank appointed three executives for its India
offshore
team. Kiriti Chauhan stepped in as managing director, banker of
the India offshore team based in Dubai. Chauhan is from Standard
Chartered
Bank, where he worked for the last 20 years, most recently as
head of
origination and client coverage for wholesale banking in Qatar.
Nisar Sindhi joined as executive director, banker of the India
offshore
team. He previously managed the ultra high net worth and high net
worth
business of Citibank's wealth management unit in Dubai. Deepak
Saluja joined as executive
director, banker of the India
offshore team based in Singapore.
Saluja joined from Credit Suisse India, where he was part of
the
founding and senior leadership team for the wealth management
group.
HSBC Global Asset Management promoted Bill Maldonado to
chief investment officer, Asia Pacific, a Hong Kong-based role
months after
relocating Chris Meares, chief executive of the private bank. For
his new role,
Maldonado will relocate from London to Hong Kong in August and
will continue to report to global
chief investment officer Chris Cheetham. Locally, he reports to
Joanna Munro,
chief executive of Asia Pacific.
Aviva Investors named Beng Eu Lim as head of institutional
business development for Asia Pacific. Lim joins from Turner
Investments where
he led investment management efforts. He will be based in
Singapore reporting to both Erich Gerth, the
chief executive for global business development, and Tahnoon
Pasha, the CEO for
Singapore.
MLC & NAB Wealth added three members to its retirement
solutions unit. Paul Stratton, Michael Tobin, and Remi Bouchenez
was promoted
to AXA's North division reporting to Andrew Barnett who himself
joined from AXA
early in the year. Stratton was the head of platform development
and is now the
head of product operations. Tobin, previously the head of product
development,
is now the head of product development for MLC, while Bouchenez,
formerly the
risk manager for structured solutions, is now head of financial
risk
management.
Bank of Singapore hired Richard Jerram as chief economist
from Macquarie. He will work closely with Hou
Wey Fook, chief investment officer. Jerram was previously head of
Asian
economics for Macquarie Capital Securities. Also BoS named Koh
Siew Kim as an
investment counsellor. She joins from HSBC Private Bank where she
was senior
director of investment counselling in Hong Kong.
JP Morgan appointed Steve Clayton as managing director and
senior country officer for Malaysia.
Clayton joins from Barclays Capital where he served as the chief
executive for Malaysia for
the last eight years. At JP Morgan, he will lead the company's
overall
franchise in the country and report to Todd Marin, the head of
investment
banking in Asia Pacific, the firm said in a statement. Clayton
takes over from
Clement Chew, who will be focusing on the bank's equity sales
division. He
remains based in Kuala Lumpur.
JP Morgan Private Wealth Management hired Mark Evans as
managing director, market manager for expatriate clients in Asia
and Salman
Haider as managing director, market manager for Southeast
Asia. Evans was previously managing director for expatriates in
London for the Royal Bank of Canada and had also served for
five
years as head of global wealth management before that. Haider
joined from
Citibank's private client group, where he was the regional head
covering high
net worth client segments across 14 Asian markets. They both
report to Peter
Flavel, the chief executive of the bank's Asia
private wealth arm.
RBC Dexia Investor Services, named Noelle Tan as director of
relationship management for Singapore.
She will report to Diana Senanayake, RBC Dexia's managing
director of Singapore. Tan
joins from State Street,
where she was in charge of key client relationships for its
custody business in
Southeast Asia.
Barclays Wealth hired Asha Mathen as a director for its
Chennai office. She was previously a vice president at the Indian
private
wealth management division of German lender Deutsche Bank.
Robeco, the Rotterdam-based investment management firm,
named Tony Edwards as chief executive of its Asia Pacific
division. Edwards
joined from Neuberger Berman where he was head of Asia Pacific
(ex-Japan). He
will take over from Frances Chang, the CEO for Greater China and
South East Asia who retired in 30 June. He starts 1
September 2011.
HSBC appointed Elizabeth Lee, a 16-year veteran of the bank
to a newly created position of head of Asian market banking and
Chinese
business strategy. Lee was most recently senior vice president
and district
executive, New York City
region.
Bank of Guam named Amoretta Carlson as vice president of BG
Wealth and Trust Departments. Carlson has been with Bank of Guam
since 1983.
She is joined by Ann Roth as vice president, and Mike San Nicolas
and Alexandra
Taitano as assistant vice presidents. The trio come from BG
Wealth
Management/Money Concepts.
HSBC promoted Peter Wong as chairman of its subsidiary HSBC
Bank China,
to succeed Vincent Cheng who is retiring.
Wong, who joined HSBC in 2005, is currently HSBC's chief
executive for the Asia Pacific region. He will continue this role
as well as
his new duties. He has around 30 years experience in banking.
Veteran private banker Lionel Kwok joined HSBC from Standard
Chartered Private Bank to lead its investment counseling unit in
Asia.
Technology firm SRL Global appointed Yvonne Barker-Layton as
its marketing and client services director. In her previous role,
Barker-Layton
worked as a consultant in the marketing and client services
division of a
Geneva-based asset and wealth management company.