People Moves
Global Executive Moves - June 2011
UK
Williams de Broë, the private client division of the UK’s
Evolution Group, appointed Andre Masters –
latterly of Canada Life – as a business development executive to
support its Bournemouth and Guildford Offices. Masters was
previously
an account manager at Canada Life, a role in which he was
involved in marketing
firm’s services to intermediaries. Before this he worked at
Lloyds TSB Private
Banking.
UK-based Heartwood Wealth Management appointed Mark
Rockliffe as head of intermediary sales, charging him with
spearheading the
firm’s development of a new investment management proposition
aimed at the IFA
market. Rockcliffe, who is now based in Heartwood’s London
office, was most recently sales
director at SEI Investments.
UBS hired Frank Oliver Jüdt as head of equities at its Swiss
investment management office. Jüdt joined from LGT Capital
Management, where he
was head of equity. Before this he worked in similar roles for
several private
banks and at Winterthur
insurance.
AXA Investment Managers named Irshaad Ahmad as its new head
of the UK and the Nordics as
part of plans to consolidate its UK market share and develop
its
client base in the Nordics. Ahmad joined from Russell
Investments, where he was
most recently executive managing director of UK and global retail
with
responsibility for teams across institutional, retail and
consultant sectors,
as well as client service and marketing. Prior to this he was
president and
managing director of Russell Investments in Canada.
A top executive at Morgan Stanley’s private wealth
management arm in London,
Michael Hall, left the company. Hall held the position of chief
administrative
officer at Morgan Stanley.
J O Hambro Capital Management launched a new global emerging
markets opportunities fund. JOHCM Global Emerging Markets
Opportunities Fund is
run by James Syme, the former head of global emerging markets
equities at
Baring Asset Management, and Paul Wimborne, a former Baring fund
manager.
Threadneedle bolstered its high yield unit with the addition
of investment analysts Gareth Simmons and Jenny Wong. Simmons was
latterly a
European credit desk analyst at Morgan Stanley, covering the high
yield
telecoms and media sectors; he had worked at the Wall Street
giant since 2006.
Wong joined from Putnam Investments, where she was a credit
analyst in the
European high yield fixed income team.
Glendevon King Asset Management, the London-headquartered
fixed income boutique, appointed Dr Percy Barnevik and Dr Kurt
Moosmann to its
expanding advisory board. Dr Barnevik is a prominent
international businessman,
who is credited with developing the merger that created the ABB
engineering
conglomerate, as well as having served on the boards of firms
including General
Motors, AstraZeneca and du Pont USA.
Dr Moosmann, meanwhile, is the co-founder of Dara Capital and a
specialist in
structuring the wealth of entrepreneurs and families.
Scoban, the new UK private bank set up by former
Adam & Co chairman Ray Entwistle, hired BNY Mellon’s former head
of dealing.
Stuart Alexander will reportedly join Scoban over the summer as
head of
operations and company secretary. He was previously director of
banking
operations at Adam & Co.
Barclays Wealth added Coutts & Co banker Alan Colquhoun
to its Edinbugh office. While at Coutts' London
office Colquhoun focused predominantly on resident non-domiciled
clients from
the Far East, Australasia and Africa. Barclays
Wealth appointed Paul Burd as head of business services within
overall
operations and as head of operations for the firm’s Glasgow
office. Burd was most recently based
in Cape Town as
general manager of worldwide securities at JP Morgan. Barclays
Wealth appointed
Mark Glover as a director and head of the global insurance unit
within its
wealth advisory division. Glover joined from UBS, where he was a
director
overseeing various aspects of the Swiss giant’s life assurance
business, both
in the UK
and internationally.
Barclays Wealth appointed Calum Brewster as a director
within its private banking business in Glasgow.
Brewster joined from Lloyds Banking Group, where he was head of
customer
experience and strategy within the life pensions and investment
division.
AXA Framlington, the equity fund manager which is part of
AXA Investment Managers, added to its healthcare team with
analyst Linden
Thomson. Thomson joined from the hedge fund Clear River Capital,
where she was
responsible for fundamental research across the pharmaceutical
and
biotechnology sectors. Before this she had been part of Goldman
Sachs’ global
investment research team, where she was one of two analysts on
the EU
biotechnology research team. AXA Framlington also made two hires
to its
emerging markets equities team. Amanda O’Toole and Paul
Birchenough, both
latterly at Nevsky Capital, joined a team led by Julian Thompson
as analysts
and portfolio managers. Both have also worked at KPMG for several
years.
Iveagh, the asset management firm and family office for the
Guinness dynasty, saw the departure of its head of asset
allocation, who is setting
up his own firm. Former Iveagh partner John Ricciardi ran the
firm’s Iveagh
Wealth Fund and its dynamic risk-rated Core Portfolio funds. The
funds’
co-manager Chris Wyllie took over as sole manager.
Alliance Trust appointed Ilario Di Bon as head of global
equities. Di Bon was latterly head of institutional global
equities at Fidelity
International, where as part of his role he helped manage the
firm’s Global
Opportunities Fund.
Jupiter Asset Management saw the departure of Malcolm
Millar, manager of its European Income Fund. Cedric de Fonclare,
manager of the
firm’s Special Situations Portfolio, took over the fund. Millar
first joined
Jupiter in 2002, managing pan-European funds since May 2003.
Stanhope Capital, the multi-family office, added advertising
luminary Sir Martin Sorrell to its advisory board. Sir Martin,
who is chief
executive of WPP, the global marketing and advertising behemoth,
will work
alongside Lord Browne of Madingley, chairman of the advisory
board. Lord
Browne, the former chief executive of BP, was appointed in
October of last year
to lead the advisory board of Stanhope Capital.
Schroders hired Bob Jolly – latterly of UBS Global Asset
Management – as head of global macro within its fixed income
team. While at UBS
GAM Jolly had been head of global sovereign, currency and UK
fixed income
portfolio management. Schroders named Rajeev De Mello as head of
Asian fixed
income. De Mello succeeds How Phuang-Goh, who is retiring in
September after
having spent 17 years with Schroders. In his new Singapore-based
role De Mello is
responsible for several Asia ex-Australia fixed income teams,
such as those in Singapore, Hong Kong, Tokyo,
Jakarta, Seoul
and Taipei.
Williams de Broë, the private client division of the UK’s
Evolution Group, expanded its Edinburgh office with the
appointment of investment directors Rosie Daniels and Catherine
McMorrin. Both
join from Barclays Wealth.
HSBC Private Bank in the UK
appointed Adam Brownlee as a director on its high net worth team,
based in London. Brownlee joined
from Credit Suisse where he was a vice president managing and
advising
corporate executives and finance market professionals.
Before joining Credit Suisse in 2008 he
worked at Drummonds Private Banking.
Newton Investment Management, part of BNY Mellon, made a
pair of hires from UBS’s charities team, including Andrew Pitt,
its former head
of charities, who replaces Jamie Korner, who is to retire. Pitt
joined Newton in September as
head of charities, a role in which he will have overall
responsibility for
co-ordinating the firm’s charities strategy. In addition Paul
Mitchell, also
from the charities team at UBS, joined Newton
in August; he will assume a number of charity clients.
Brewin Dolphin hired Paul Martin from Barclays Wealth as a
divisional director. Martin, who was formerly a vice president,
private banker
at Barclays Wealth, was joined by an assistant and two other
former co-workers
who have been appointed directors for the Leeds
office.
UK-based Arbuthnot Securities appointed Jamie Lowe to lead a
team charged with rolling out a research service allowing asset
allocators to
compare investment trusts and exchange-traded funds. Arbuthnot
also assigned
Peter Brown, formerly of ICAP and Fleming Family & Partners, and
Majid Haq,
an internal appointee, as market makers ahead of the launch, as
well as James
McIntyre, Katie Romero, Hugh Field and Finlay Bodman.
Aviva elected John McFarlane as its new chairman, effective
from
the start of July 2012. McFarlane will become a non-executive
director at the
start of September, before taking on the role of deputy chairman
on 1 January
2012 and then becoming chairman at the end of June. McFarlane,
who succeeds
Lord Sharman of Redlynch, is currently a non-executive director
of Royal Bank
of Scotland Group and will relinquish this role by 31 March 2012.
The trust and fiduciary arm of HSBC Private Bank boosted its
private wealth solutions team with three top level appointments
as it launches
a new global wealth planning platform called Core Trust
Solutions. HSBC Private
Wealth Solutions named Chris Marquis as managing director of its
Hong Kong operations, while Gareth Morgan and Mike Buhre were
appointed as global chief risk officer and global chief financial
officer,
respectively.
Signature, the intermediaries arm of the UK based wealth
manager Rowan Dartington, appointed Trevor Cant as business
development
manager. Cant joined from TCF Investment, where he had also been
a business
development manager.
UK-based AWD Chase de Vere hired 20 advisors and managers
from Barclays Financial Planning. Among the 20 new hires, AWD
Chase de Vere
appointed Dave Fishlock as a senior manager in its Newcastle
office, Steve Hearn as a senior manager in Manchester
and Andrew Pacey as a senior manager in Cambridge.
Edmond de Rothschild Asset Management bolstered its asset
allocation team with the addition of Thomas Vlieghe, formerly a
portfolio
manager at Allianz Global Investors. Vlieghe was at Allianz since
2004, acting
as a balanced portfolio manager of open funds and dedicated
mandates for
institutional, corporate and pension fund accounts.
HSBC Alternative Investments appointed Simon Jennings -
formerly of UBS Wealth Management - as managing director, head of
private
equity. Jennings
is noted for having co-founded and run UBS Wealth Management’s
private equity
business between 2004 and this year.
Legis, the Guernsey-based funds, corporate services and
trust firm, appointed Brian O’Mahoney as group finance director.
O’Mahoney was
most recently chief financial officer for Kleinwort Benson’s
operations in the Channel Islands.
Future Capital Partners appointed Robert Jolliffe as a
senior investment advisor as it moves to enhance its structured
debt and asset
management capabilities.
The UK Serious Fraud Office appointed the chairman of the
City of London Police Authority Simon
Duckworth to its board. In addition to his role in the
police authority, Duckworth is chairman of the Barings targeted
return fund, a
non-executive director of the Fidelity European values trust, and
chairman of
the National Olympics Security Oversight Group.
Coutts made a double hire for its Newcastle office, appointing
Stephen Black
and Ian McElroy as senior private bankers. Black and McElroy join
from
Kleinwort Benson and have both previously worked for Barclays
Wealth in Newcastle.
Coutts bolstered its Manchester
office with a double hire from Barclays Wealth as it continues to
expand in the
Lancashire region. James Bardner, formerly a
vice-president at Barclays Wealth, joined as a senior private
banker, while
Neil Ferguson was appointed as a financial planner. Ferguson
was latterly a financial planner covering the Manchester area for
Barclays Wealth.
Standard Life promoted Paul Matthews to the position of
chief executive of its UK
business. Matthews, who joined Standard Life in 1989, was
previously
take-to-market director at the London-listed savings and
investment company,
with responsibility for retail, corporate and direct to customer
business in
the UK.
Lloyds Banking Group consolidated its international wealth
management and private banking businesses under Russell Galley as
sole managing
director. The new international wealth unit serves all the firm’s
global wealth
management clients, comprising the mass affluent, high and ultra
high net worth
segments.
Fund manager Nick Roe-Ely left London-based investment bank
Xcap. Roe-Ely joined Xcap in
January of last year from JO Hambro Capital Management, and was
responsible for
launching the firm’s dedicated asset management division with
Jonny Wiseman.
Santander Private Banking UK appointed Sue Hayes as its new
managing director, a role in which she will oversee the firm's on
and offshore
private banking operations. Hayes’ role covers Cater Allen
Private Bank,
Santander Private Banking in Jersey, and Alliance & Leicester
International
in the Isle of Man. Hayes was latterly managing director of
Santander’s business banking arm.
North Investment Partners hired Ari Towli and Nick Roberts
to assist in the running of its multi-manager range, which has
£450 million
($740 million) under management. Towli and Roberts joined from
Gartmore, where
both were involved in the design and management of the firm’s
multi-manager
range. The pair left the firm after Henderson
agreed to buy Gartmore at the end of last year.
London & Capital further expanded its advisor solutions
sales team with the addition of Bruce Kirkcaldy and Sachin Patel,
who joined
from Meteor Asset Management and Close Brothers Asset Management
respectively.
Polar Capital continued a spate of recent hires with the
addition of Su Park to its international sales team and the
appointment of
Sarah Nash as marketing manager. Park was most recently head of
European
capital introductions at Nomura International.
BullionVault, the internet-based precious metal exchange for
private investors, hired Steve Kowal as its new head of global
business
development as it moves to expand its offering to advisors and
platforms. Kowal
joined from Skandia Investment Group, where he was head of open
architecture
and managed commercial relationships with third-party providers.
Gore Browne Investment Management, the UK-based
discretionary private client investment manager, strengthened its
investment
team with two new hires from Barclays Wealth. GBIM has recruited
Chris Rogers
and Simon Jackson from Barclays Wealth to work as investment
managers at its
primary office in Salisbury.
Scotland-based SL Capital Partners, the private equity
fund-of-funds
firm, promoted Graeme Dunbar to investment director of the
investment team in Edinburgh. Graeme joined
SL Capital in 2008, prior to which he spent 10 years at KPMG in
the UK and Australia, latterly as a manager in
corporate finance acting as lead advisor on M&A and private
equity
transactions.
SKAGEN Funds, an independently-owned asset manager, hired Tim
Gordon and Nick Henderson to support its UK client relations
unit. Henderson joined from
Financial Dynamics
The London-based legal firm Bircham Dyson Bell made two
partner promotions within its private wealth management
department. The
promotions of Henry Cecil and Hugo Smith to partner level bring
the total
number of partners at the firm to 48.
UK-based Aberdeen Asset Management Life and Pensions
appointed Helen Webster as its new chief operating officer.
Webster joined from
Aegon Asset Management, where she was a director of Aegon’s
offshore funds
business and was responsible for product development and
distribution strategy.
Merchant Securities, a financial services firm that began as
a private client brokerage, hired the former head of WH Ireland’s
wealth
management unit to help grow its wealth services. Lindsey
Hamilton joined
Merchant Securities Wealth Management as a sales director.
London-based Ingenious Group appointed Neil Forster as group
chief operating officer, in addition to his current
responsibilities as group
finance director. As group finance director Forster has been
responsible for
all financial management and governance since 2008, when he first
joined the
firm.
City of London
Investment Group, the UK-based emerging markets asset
manager,
appointed Rian Dartnell as a non-executive director with
immediate effect.
Dartnell is chief investment officer of Granite Associates, where
he is
responsible for setting and implementing the firm's investment
strategy.
London-based wealth boutique Xcap lost two managers, Kas
Kabbani and Drew Garland, just eight months after they started at
the firm.
Kabbani and Garland,
managers at the firm’s Wilmslow office, joined Xcap from WH
Ireland last
September.
Ignis Asset Management sales and marketing director Jonathan
Polin, has left the firm. Polin, who had been at the Glasgow and
London-based
asset manager for seven years, left at the end of July.
HSBC Global Asset Management appointed Guy Dunham as its
head of fixed income in London.
Dunham joined HSBC GAM from Bank of International Settlements in
Basel, where he was
latterly head of portfolio management, responsible for the team
that provides
asset management services to central banks, monetary authorities
and official
institutions.
GHC Capital Markets, the London-listed investment manager,
appointed
David Rowley as northern regional relationship manager as part of
moves to
target IFAs based in the region. Rowley is himself an experienced
IFA, having
spent 16 years as an advisor running his own practice.
As part of a drive to expand its UK
and Europe, Middle East and Africa operations, Morgan Stanley
appointed Martin
Davison and Glenn Palmer as executive director and vice president
respectively
for its private wealth management division, covering EMEA clients
in the UK. Both joined
the New York-headquartered firm from Barclays Wealth and will be
based in London.
RSM Tenon appointed former Macquarie director John Porteous
to head up its investment and technology operations, He was
latterly head of
distribution for Macquarie, before the Australian bank left the
IFA market in
the UK.
His new role will include developing additional direct-to-market
services for
clients.
European fund manager Cevian Capital appointed UK Labour
Party peer Lord Myners as chairman of its UK operations and a
partner at the
firm. During a long career, Lord Myners has acted as chairman of
Gartmore
Investment Managers, Land Securities, Marks & Spencer and
Guardian Media
Group and vice-chairman of PowerGen. His directorships
include Mm02,
Orange, GLG,
Bank of New York, and NatWest.
Switzerland
Piero Grandi,
managing director of Lloyds International Private Banking in
Switzerland,
stepped down and is to be replaced by Russell Galley, previously
managing
director of savings, investment and protection within the group's
retail bank
Union Bancaire
Privée appointed Alan Mudie as chief investment officer at its
private banking
division. Mudie joins the Geneva-headquartered private bank from
Banque Syz,
where he was most recently head of fund research. He has also
worked at BNP
Paribas International Private Bank, where he was CIO.
Banque Syz appointed
Katia Coudray as head of fund selection and product development.
Coudray joins the
firm from Union Bancaire Privée, where she had been head of multi
management,
fund research and advisory for ten years.
Hyposwiss appointed
Kurt Frischknecht to head the firm’s private banking operations
in Switzerland,
Germany and Austria. Frischknecht, who takes up his new role at
the start of
July, has been with the bank for the past decade and was most
recently a senior
relationship manager. He will now report to Andreas Moser, head
of private
banking at Hyposwiss.
Barclays Wealth
appointed Thomas Roiz as managing director and market head for
Latin America
within its International Private Bank unit for Europe, the Middle
East and
Africa, based in Switzerland. Roiz joined from Royal Bank of
Canada (Suisse),
where he spent the last two years as head of Latin America. Prior
to this role
Roiz was the managing director in charge of Brazil at Citi
Private Bank
(Suisse) from 2002 to 2009. Rioz will report to Patrick Ramsey,
market manager
for Latin America at IPB EMEA and general manager of Barclays
Bank (Suisse).
Mirabaud & Cie
announced the departure of senior partner Thierry
Fauchier-Magnan, who will
retire at the end of the year as his daughter Camille Vial joins
the management
team as a partner. Vial, currently head of portfolio management
for private
clients at the firm, has been with Mirabaud for ten years and
will become its
first female partner.
Rothschild Private
Banking & Trust made two major new appointments, naming Marco
Schaller as
head of service management and offering development, and Andreas
Bickel as head
of strategic asset allocation and advisory in Switzerland.
Schaller was
latterly with UBS, where he had held various roles, including
global head of
financial intermediaries, head of Italy for investment products
and services
and – most recently – global head of value-based investing.
Bickel joins from
Goldman Sachs, where he was head of the portfolio management
group. Schaller
and Bickel take up their Zurich-based roles on 1 December and 1
September,
respectively.
Falcon Private Bank
named Heiner Weber as head of its new Geneva office. Weber
latterly led the
bank’s Middle Eastern private banking desk.
The Stonehage Group
appointed Shelby du Pasquier to its board in Switzerland.
Pasquier is a partner
and head of the banking and finance group at Lenz & Staehelin in
Geneva,
where he advises a number of Swiss and international financial
institutions.
International
Standard Bank
Offshore named Mark Hucker, latterly managing director at Key
Trust, as its new
chief risk officer, charged with developing and maintaining a
risk management
framework for the group’s operations across Jersey, the Isle of
Man and Mauritius. He
will be based in Jersey.
East Capital hired
three new advisors: Al Breach, a former economist at UBS and
Goldman Sachs;
Torbjörn Becker, who focuses on Eastern Europe and was latterly
director of the
Stockholm Institute of Transition Economics at the Stockholm
School of
Economics; Christer Ljungvall, who focuses on China development,
specialising
in growth, institutions, regional development, financial
stability and China’s
banking system.
Standard Bank
Offshore added Sheena Maddrell to its IFA team in the Isle of Man
as a business
development manager with responsibility for Europe. Maddrell
started her career
with Royal Skandia Life Assurance Isle of Man. She has also spent
two years in
Barbados, and from 2008 worked in financial services in the Isle
of Man.
Gottex announced
that its co-founder, Max Gottschalk, moved to Hong Kong to help
grow the
company’s business in the Asia-Pacific region.
JP Morgan Private
Bank appointed former senior UBS manager Rebecca Lum as market
manager for
China, to be based in Hong Kong. Lum reports to Andrew Cohen,
chief executive
of JP Morgan Private Bank in Asia, and will join the private
bank’s Asia
operating committee.
Northern Trust
appointed four new members to its client service teams in London
and Guernsey:
Kripa Sethuraman, most recently managing partner for the Family
Office Exchange,
joined as a wealth strategist in London, where she will focus on
expanding the
US firm's family office services in Europe; William McGilivray,
previously a
vice president of project management at Northern Trust,
transitioned to a new
role as a London-based wealth strategist to focus on building the
firm’s client
base in the Middle East; Simon Lawson joined as a senior account
manager in the
Guernsey office from JP Morgan.
Credit Suisse
appointed Paul Hawkins as a managing director and global head of
commodities,
and Jan Stuart and Andy Shaw as members of its commodities
research group
within the fixed income research department. Hawkins was most
recently at
LITASCO, the Geneva-based marketing and trading company for
Russian oil company
Lukoil; Stuart was latterly at Macquarie Securities Group; Shaw
joins from BHP
Billiton, where he was manager of business analysis.
Based in London,
Hawkins, who will take up his new role in August 2011, reports to
Gael de
Boissard and Tony Ehinger, co-heads of Global Securities. Stuart
will begin in
his new position as head of energy research on 1 September, and
be based in New
York. Shaw will start as head of base metals research in late
July and be based
in Singapore. Both will report to Ric Deverell, head of
commodities research.
Goldman Sachs
announced the election of Dr Debora Spar as an independent
director of the
firm; Dr Spar will be a member of each of the firm’s audit, risk,
compensation
and corporate governance and nominating committees. Dr Spar is
president of
Barnard College, the New York-based liberal arts college for
women prior to
which she spent 17 years on the faculty of Harvard Business
School.
HSBC appointed Simon
Williams as group head of wealth management, effective 11 July
and based in
Hong Kong. Williams is currently chairman and chief executive of
Camelot
Financial Capital Management, a US-based investment group. Prior
to this he was
a senior executive at Citigroup, where he held various roles
during his career
including CEO of Citibank International Retail Bank. In his new
role he reports
to Paul Thurston, the firm’s CEO of retail banking and wealth
management.
Middle
East
Morgan Stanley made
two hires to its private wealth management business in Dubai:
Ghada Ragheb joins
as vice president of private wealth management and will also work
as an
investment advisor; Kshitij Sawhney joins as an associate and
investment
advisor. Ragheb was formerly a vice president at Credit Suisse,
covering Abu
Dhabi and Dubai, and has also previously worked at ABN Amro.
Sawhney was
formerly at Goldman Sachs, where he was a senior financial
analyst based in
London.
Europe Arab Bank
appointed Ziyad Akrouk as its new chief executive. Akrouk joins
the European
subsidiary of Arab Bank from Citibank in Kuwait, where he was
latterly chief
executive and country officer, with responsibility for Citi's
corporate,
investment and private banking business lines.
Barclays Wealth
appointed Nomkhita Nqweni as global market manager for Africa.
She is currently
the chief executive of Absa Wealth, and will continue in this
capacity.
Meanwhile Chris Hocking, former market head for Barclays Wealth
International
Private Bank Africa Offshore departed the firm amicably.
The former head of
international wealth at Barclays Wealth in Dubai, Tony Sareen,
left to launch a
private banking division at Commercial Bank of Qatar. Sareen
joined the latter
in March this year as a senior vice president and head of private
banking.
Merrill Lynch added
three to its wealth operations in the Middle East: Leila
Alameddine, Shereen
Ghobrial and Utku Balik joined as market manager for the Levant,
regional sales
manager and business strategy and initiatives execution manager
respectively,
with the former based in Beirut and the latter two in Dubai.
Alameddine joins
from Audi Saradar Private Bank, where she was an executive
manager covering
clients in Europe and the Middle East. Ghobrial was most recently
at Abu Dhabi
Commercial Bank as the regional head of wealth management for Abu
Dhabi and Al
Ain. Both Alameddine and Ghobrial report to Tamer Rashad, head of
Middle East
for Merrill Lynch Wealth Management.
Balik previously
worked for Emirates NBD Private Banking in Dubai as head of
business
development, responsible for business strategy and project
management. He
reports to Michael Tolentino, chief operating officer for the
firm's wealth
management operations in EMEA, and to Rashad.
NCB Capital
appointed Faysal Badran to the newly-created role of chief
investment officer.
Badran spent the past five years at NCB as chief financial
officer and head of
international strategy and expansion.
Julius Baer named
Edmond Carton, formerly at Credit Suisse, as its new head of the
Middle East
and Eastern Mediterranean. At Credit Suisse, Carton had been head
of the ultra
high net worth segment for the Middle East, India and Turkey. In
his new role
Carton reports to Rémy Bersier, CEO of the Eastern Mediterranean,
Middle East, Africa and European francophone markets. Carton
succeeds
Olivier Meystre, who held the role for two years and is also
credited with
building up the Cairo office as head of Julius Baer (Middle East)
Advisory.
Meystre is not leaving the bank, but will rather act as senior
advisor to
Bersier going forward.
Europe
Rothschild Private
Banking & Trust made a number of changes to its top-rank team. Dr
Reinhard
Krafft, the founder and owner of Jupiter Group, Luxembourg,
joined as the chief
executive of its German wealth management arm, Rothschild
Vermögensverwaltungs-GmbH.
He will initially lead the company together with existing CEO
Hayo Willms,
assuming sole management responsibility as of 1 September.
Krafft is the
founder and owner of Jupiter Group, Luxembourg.The German
business
will work with Thomas Pixner, head of private clients at
Rothschild Bank
Switzerland, and Dr Martin Reitz in his role as country head of
the Rothschild
Group in Germany. The firm also recruited Professor Alexander
Kolb to its new
advisory board.
Citigroup hired Eric
Coutts and Arnaud de Marmiés as joint Citi country officers,
replacing
Jean-Claude Gruffat, who was named European chairman of the
Global Subsidiaries
Group. In addition to assuming the role of CCO, Coutts will
retain his current
position of head of global banking for France, and de Marmiés
will continue as
head of markets for France, Belgium and Luxembourg.
Northern Trust
appointed Clive Bellows as its new country head for Ireland.
Bellows rejoins
the firm, having previously worked as head of relationship
management for the
global fund services and investment manager liaison group in
London between
1997 and 2003. He was most recently a managing director with
responsibility for
EMEA asset managers and hedge funds at JP Morgan. In his new role
he is to be
based in Dublin and will report to Toby Glaysher, head of global
fund services
in Europe.
Northern Star Group
hired Maxim Achkasov, formerly a senior advisor at the asset
management arm of
Finnish banking co-operative Osuuspankki Pohjola, to head its
UCITS-compliant
long-only Russian equity fund. Achkasov was also appointed as the
firm’s head
of investment management for Russia and will be based in Moscow.
Dalton Strategic
Partnership appointed Keith Busuttil as an analyst on its
European absolute
return equities team, based in London. Busuttil was latterly at
Blackstone,
where he was vice president in the European debt restructuring
team.
Deutsche Bank made
two hires to its Russian private banking business: Tim Knoll as
head of private
wealth management for the country and Elena Loginova as head of
key clients.
Knoll had been chief operating officer and business manager for
private wealth
management within Deutsche’s Russian arm from 2007. Loginova
rejoins Deutsche
from Pioneer Investment Management, where she had been general
director since
2007. She first worked at Deutsche Bank Russia between 1998 and
2004, during
which time she was first deputy head of custody and then went on
to become head
of depositary.
Berenberg hired
Richard Brass as a senior manager for its new UK private banking
arm. Brass was
formerly at Schroders Private Banking, where he was a client
director.
Lombard Odier
Investment Managers appointed Ian Clarke as its new deputy chief
investment
officer for fixed income and currencies. Clarke was latterly head
of internal
fixed income at the Abu Dhabi Investment Authority, where he
worked from 2003,
including three years with Stéphane Monier, who he reports to in
his new
position at LOIM.
Bank Sarasin &
Cie appointed Gianluca Grissini as head of its Lugano branch,
with
responsibility for the Italian private banking market. Grissini,
who will
report directly to Eric Sarasin, head of the private banking
division, has
worked at the firm since 2008.
SwissLife Banque
Privée appointed Ylan Cattan as a private banker in charge of
private clients.
Cattan was latterly a private banker at Barclays Patrimoine,
which he joined in
2004. Prior to this role he was a real estate asset manager at
Liins (Groupe
Marceau Investissement). He reports to Daniel Resta, in charge of
private
clients.
VAM Funds hired
Chris Leyshon to its institutional sales team. He was formerly at
Wellington
Management where he worked in client relationship management and
new business
development across Europe.
Asia-Pacific
HSBC Private Wealth Solutions named Chris Marquis as
managing director of its Hong Kong operations
and Gareth Morgan and Mike Buhre as global chief risk officer and
global chief
financial officer, respectively.
Deutsche Bank Private Wealth Management hired Farooq
Choudhury as director and head of non-resident Indian Middle
East, Shampi
Chopra as director and senior relationship manager for global
South Asia and
the Middle East, and Rajesh Mahadevan as director and head of
investment
advisory, global South Asia and the Middle East. Omar Farooq
joined as director
and senior relationship manager for global South Asia and
Pakistan.
Standard Chartered Private Bank appointed Sandeep Das,
previously general manager for premium and consumer banking at
Standard
Chartered India, as head of private banking for India. Based in
Mumbai, he reports
to Stephen Richard Evans, head of the private bank, Europe Middle
East and
Africa, India and the Americas, and to Sanjeeb Chaudhuri,
regional head, South
Asia and Group Chief Marketing Officer for Consumer Banking. He
took over from
Soumya Rajan, who left in March 2011.
Serge Janowski, the chief executive officer and head of
wealth management of the Hong Kong division of
French bank BNP Paribas, resigned after half a year. Mignonne
Cheng, chairman
and CEO of BNP Paribas Weath Management Asia Pacific and his
former boss, took
over his responsibilities in the interim until a replacement is
found.
HSBC appointed Simon Williams as group head of wealth
management effective 11 July. Williams joined from Camelot
Financial Capital
Management. He reports to Paul Thurston, chief executive of
retail banking and
wealth management.
Deutsche Bank hired Chris Selby as the head of private
wealth management in Australia.
Selby came from Bank of America Merrill Lynch where he was head
of wealth
management for Australia and
New Zealand.
He took over from Steven Skala, who was acting head of wealth
management for
almost a year and a half. Skala remains involved in the business
as vice
chairman of the bank in Australia.
Italian-owned Pioneer Investments shifted its investment
activities from Singapore to
London. Singapore is currently being groomed as its
primary sales hub for Asia.
Merrill Lynch managing director Jay O'Neil was named head of
Macquarie Private Bank's Australian operations.
JP Morgan’s private wealth management arm raided DBS Private
Bank for four senior private bankers including North Asia Chief
Edwin Lim,
named managing director, market manager for Greater China based
in Hong Kong. Gabriel Chan was also named managing director
in Singapore
to lead PWM Greater China bankers. He was previously the team
head for
China/North Asia markets. Patrice Huang joined as vice president
in Hong Kong
from DBS, where she was team head for the PRC and Taiwan markets.
Eric Goh joined as
executive director and investor team leader for PWM in Singapore.
He
used to be the head of the investment advisory group and regional
head of
investment consultants at BNP Paribas Wealth Management.
Veteran private banker Lionel Kwok joined HSBC Private Bank
as head of investment counseling, Asia, after
only a year in his previous role at Standard Chartered Private
Bank. He will be
based in Hong Kong and will oversee the
investment counseling team.
Ascalon Capital Managers, the fund manager owned by WestPac,
hired Chuak Chan to lead its newly-established Asian operations.
Chan
previously served as chief operating officer at Segantii Capital
Management.
Singaporean wealth management consultancy Tria Investment
Partners moved its representative office to Hong Kong from
Singapore in a
bid to capture a wider share of the Chinese wealth management
market.
PIMCO Australia appointed Eric Frerer as executive vice
president and account manager. He will work with John Wilson,
head of PIMCO
Australia, Ben Kelly, the account manager, and Matthew
McLenaghan. He was
previously the global head of institutional fixed income
distribution for ANZ’s
global markets division.
HSBC India recruited Srikanth Srinivasamadhavan as head of
marketing for HSBC India, joining from Hindustan Unilever, where
he most
recently held the role of head of media services, South
Asia. He reports to Gannesh Bharadhwaj, head of retail banking
and
wealth management, HSBC India, and replaced Maitri Kumar, who
returns to the US.
Gottex, the independent global alternative asset management
group, relocated its co-founder, Max Gottschalk, to Hong
Kong to help grow the company’s business in Asia Pacific.
Nicholas Tan left his position as head of global wealth
management at OCBC Tan is
understood to be planning to increase his involvement with
Singapore Management University,
having been teaching there for the past two years as an adjunct
staff member.
Tan was with OCBC for six years.
Schroders hired Rajeev De Mello as head of Asian fixed
income. De Mello takes over from How Phuang-Goh, who retired
after 17 years at
the firm. He was previously the country head of Singapore and
senior investment
officer for Western Ass.
Barclays’s private banking unit in India announced plans to
expand headcount by up
to 25 per cent this year, its India
wealth unit chief executive Satya Bansal said.The bank expects
its business to
expand by a third over the next three years.
Pictet Asset Management hired Lawrence Tse to lead its
retail and wholesale distribution operations in Asia.
Tse was previously the chief marketing officer at Allianz Global
Investors in Hong Kong.
BNY Mellon Asset Management hired Alan Harden as chief
executive of Asia-Pacific. Harden was previously the Asia-Pacific
chief
executive for ING Investment Management.
BSI Bank, the Swiss private wealth manager, established a
new North Asia team in Singapore.
The group is led by Ng Tse Meng as managing director. Ng joined
from Credit
Suisse.
FNZ, the wealth management technology developer, appointed
Martin Jennings as chief operations officer for Australia
and New Zealand.
Jennings relocated to the Sydney
office from London
and reports to Adrian Durham, the group chief executive.
Citi Private Bank hired three investment counselors to its
investment advisory and sales unit in Singapore. Goh Kwang Meng
joined as
a director from HSBC Private Bank in Singapore. Goh Siew Leng,
joined as
a director from Credit Suisse Private Bank in Singapore. Frances
Lim joined as a
vice president and was also latterly at Credit Suisse Private
Bank in Singapore. All
three report to Manav Abrol, South Asia head
of investment advisory and sales.
The Halberg Trust, the New Zealand-based charity group, has
announced two senior hires to its fundraising and events unit.
Grant McCabe was
appointed as a manager, with responsibilities including the
management of the
Westpac Halberg Awards, and Elissa Downey was appointed
communications and
marketing manager. McCabe takes over from Julie Ryan.
HLB Mann Judd, Australian financial advisory firm, grew its
wealth management division with the recent takeover of boutique
planner Howard
Financial Partners. The acquisition brings HLB's wealth staff
numbers from six
to 11, with Howard Financial Planners principal Howard Jacob
taking the lead as
director of the newly merged entity.
Standard Chartered hired Sanjeeb Chaudhuri as the new
regional head of South Asia for consumer
banking, a division that covers the firm's wealth management
business.
Chaudhuri, who took over from Vishu Ramachandran, was previously
the chief
executive of retail and commercial banking for Central and
Eastern Europe, West
Asia, and Africa at Citibank. Ramachandran
maintains his duties as regional head for the Middle East,
Pakistan, and Africa
and took the role of chief marketing officer.
UBS Wealth Management hired a five-strong team in Asia from US
rival Morgan
Stanley. Peter Tung and Harry Pang joined as managing directors
reporting to
Amy Lo, head of ultra high net worth business in Asia Pacific.
They bring with
them three assistants. The US
bank replaced Tung internally with Nick Chan, a managing director
who starts
soon as sales manager for Taiwan.
The Industrial and Commercial Bank of China Asia launched a
new branch in Hong Kong aimed at affluent
customers in the region, the bank's fourth new branch in six
months. The new
office in Hong Kong's Quarry
Bay features a so-called
Elite Club Wealth Management Centre.
HSBC Private Bank bolstered its international trust and
fiduciary unit with three senior internal appointments. Chris
Marquis was
promoted to managing director of private wealth solutions, Hong
Kong, after
several years working in the PWS divisions in Europe and
Asia.
Gareth Morgan became global chief risk offer, PWS, while Mike
Buhre is now
global chief financial officer for PWS.
Selby Jennings, the London-based recruitment firm with a
wealth and private banking business, is launched a Singapore
office. Business out of Asia has grown by 68 per cent over the
last three years,
said the firm.
Bank Julius Baer added two industry specialists. Mark
Matthews was recruited last month as head of research for Asia,
from Maquarie
Bank where he was Asia strategist. Dr Lee Boon
Keng was promoted to sole head of the investment solutions group
in Singapore. He
was previously co-head of the division. Matthews reports directly
to Dr Lee and
is also based in Singapore.
Deutsche Bank Thailand chief country officer
Manfred Schmoelz resigned. Schmoelz will likely join Royal Bank
of Scotland for a similar lead role in Singapore. He
has been on gardening leave from Deutsche Bank for the last two
and a half
months.
HSBC Private Bank hired Sammy Shroff from JP Morgan as head
of FX and precious metals in Hong Kong. Shroff
was previously the executive director of JP Morgan's private
banking business
in Asia.
Citigroup appointed a new country head for Indonesia.
Tigor Siahaan took over from Shariq Mukhtar, who will be moving
to Singapore for a
new position.
Kirby Daley, a veteran strategist at the Asia
business of broker Newedge was poached by a family office as
co-chief
investment officer. He will join a family office outside of the
region.
North America
Barclays
Wealth added six investment representatives in the US,
strengthening its presence in the key markets of Boston,
New York and Washington DC.
In Boston, Daniel Caso
joined the firm from Merrill Lynch, where he worked for the past
four years.
Before working at Merrill Lynch he was a managing director in the
private
client services division of Bear Stearns. He reports to Marty
Courage, regional
manager for Boston.
In New York, Barclays
Wealth hired Robert Miller from Goldman Sachs, where he had
worked since 1996
and was most recently part of the wealth management division, and
Jorge
Carreras and Carlos Molina from Morgan Stanley Smith Barney’s
private wealth
unit.
Miller,
Carreras and Molina report to Mark Stevenson, regional manager
for New York.
In Washington DC,
the bank brought in Douglas Bayer and Joseph Gilbert as
investment
representatives from MSSB.
Citi Private
Bank hired Alexander Zaharoff as managing director and head of
the North America investment lab.
Zaharoff will
be based in New York and report to Steve
Bodurtha, head of investments for North America.
He joins Citi from Carleon Capital Partners, a New York-based
private wealth
firm focused on ultra-wealthy families.
Northern Trust
appointed Brian Donovan as the new managing director of its
Stamford, Connecticut
office.
Donovan will
be responsible for leading the Connecticut
office and coordinating business development efforts throughout
the state, as
well as being a senior wealth advisor working with clients on
wealth management
and trust administration.
Donovan joined
Northern Trust last year as a senior vice president and wealth
advisor. Prior
to joining Northern Trust, he served as a senior manager at Ernst
& Young
in Stamford
focusing on tax, estate planning, and financial planning for
HNW
individuals. Three former consultants at
The Gleason Agency spun off the financial services division of
the firm to
create a new entity focusing on wealth management.
DSF Wealth
Management Group, built by Gleason consultants Peter Diulus,
Dennis Spangler,
and Ryan Franks, will take over the clients of Gleason Financial,
who will
continue to work with their current representatives. Joining the
trio as
associates are Michael Wolfe, Jay Shaffer, and Neil Crowell.
UBS Wealth
Management Americas hired 38 financial advisors in June, who had
a combined
$24.3 million in annual production and managed $2.8 billion in
client assets.
Among these,
the Swiss bank recruited Irwin Shapiro from RBC Wealth
Management, a unit of
Royal Bank of Canada, to its
Beverly Hills
office. Shapiro generated $1.7 million in fees and commissions,
and had $420
million in assets under management. He reports to David Bigler,
complex
director.
Other new
hires include Dimitrios Michelis and Garrick Montenegro,
who joined UBS in New York
from JP Morgan. The two advisors, who report to complex director
Mara Glassel,
had $1.4 million in combined production and managed $110 million
in client
assets.
Bessemer Trust
continued to strengthen its operations with another key hire in
San Francisco.
Kennen Hagen
joined the branch as a managing director and head, reporting to
Mark Lipson,
the western region head. In this new role, he is responsible for
wealth
management services for clients in Northern California and the
Pacific Northwest. Prior to the appointment, Hagen was an
independent
advisor for private equity firms.
Sovereign
Bank, the wholly-owned subsidiary of Banco Santander, appointed
Carlos Garcia
as chief of staff.
Garcia was the
chairman of the board, president and chief executive of the
Government
Development Bank of Puerto Rico and brings 15
years of experience in the financial services industry. In his
new role, he
will also serve as chief of corporate affairs and communications
officer. He
takes over from Edvaldo Morata and reports to Jorge Moran,
president and CEO of
Sovereign Bank and country head of Santander
businesses in the US.
Citigroup
announced that Jerry Grundhofer resigned from the board of
directors of both
Citigroup and Citibank.
Grundhofer
left to serve as chairman of Santander Holdings USA, the
wholly-owned
subsidiary of Spain's
Banco Santander. He started on 1 July.
Ohio-based
Huntington Bancshares hired Marita Grobbel from Northern Trust as
a senior
trust officer in Southeastern Michigan.
She is charged
with assisting in managing the East Michigan trust and asset
management team at
Huntington and
helping to grow the firm’s Wealth Advisors Group, which works
with business
owners and professionals on wealth creation, preservation and
transfer.
At Northern
Trust Grobbel was president and managing director of the Grosse
Pointe office.
New
York-listed First Republic Bank appointed Linnea McArt as a
managing director
in Los Angeles, California.
McArt latterly
worked for Citi Private Bank in Los Angeles
for seven years and was most recently senior vice president.
Before that, she
worked for Goldman Sachs.
Bank of
America Global Wealth & Investment Management president
Sallie
Krawcheck announced that Andy Sieg, head
of BofA Merrill Lynch's retirement services division, will be
assuming an
additional role as head of global investment solutions.
The company
said that Sieg will be instrumental to driving further
collaboration across GIS
and retirement services, specifically in areas of planning tools,
specialist
coverage, and institutional consulting.
Morgan Stanley
Investment Management appointed Cyril Moulle-Berteaux as managing
director and
head of the global asset allocation team.
Moulle-Berteaux
steps in from the hedge fund firm Traxis Partners, which he
co-founded. He
rejoins MSIM after working with the company from 1995 to 2003 as
head of asset
allocation, head of asset allocation research and a research
analyst.
Going
forwards, he will assume the day-to-day management
responsibilities for all
investment vehicles under the long-only business. He takes over
from Henry
McVey, who was appointed head of global macro and allocation at
KKR & Co,
and reports to Ruchir Sharma, head of emerging markets equity.
TD Wealth
Management appointed Mark DiGangi as vice president of private
banking in Burlington, Vermont.
DiGangi previously
served as a retirement specialist at Morgan Stanley and as a
senior
relationship manager in business banking at KeyBank. He will be
responsible for
coordinating financial services specialists serving high net
worth clients in
the state.
Northern
Trust’s personal financial services business is pushing into the
Washington DC
market and appointed Joanne Stringer as a managing director
there, charged with
leading a new office.
Stringer previously
led a number of office openings for Northern Trust, both in the
US and abroad.
Internationally she held roles such as head of business
development for the
Nordic region of Europe for Northern Trust's
corporate and institutional services division.
She took over
the role directly from her previous position as MD of the
Stamford, Connecticut
PFS team, which in turn was taken over by Brian Donovan.
Going
forwards, Stringer will be responsible for the overall strategy
and direction
of the personal financial services team in Washington DC,
leading around 20 people. She will focus on building the team,
sourcing new
business and building the firm’s brand in this new market.
Alabama-based
Regions Bank created a new wealth management unit that integrates
its trust,
private banking, and insurance operations.
The group will
be led by Bill Ritter, who most recently served as senior
executive vice
president and central region president. His old post as central
president will
then be occupied by John Turner, previously the president of
Whitney National
Bank. Both will report to Grayson Hall, the president and chief
executive.
BNY Mellon
Asset Servicing strengthened its equities franchise with the
appointments of
David DiNardo as chief operating officer of securities lending
and Robert
Chiuch as managing director of the same unit.
DiNardo joined
the securities lending division in 1994 and served as manager
since 1997. In
his new post, he reports to James Slater, who he succeeds
following the latter's
appointment as global head of securities lending.
Chiuch joins
the company from CIBC Mellon, where he served as co-head of
global securities
lending. He will be based in New York
for his new position and will also report to Slater.
The
Boston-based wealth management firm Silver Bridge promoted
Allison Taff to take
on broader responsibilities as director of strategic planning, a
newly-created
role. She was previously director of family officer partners at
the firm.
As director of
strategic planning, Taff’s responsibilities will include managing
partnerships
with external firms, to provide services Silver Bridge
does not offer itself.
She joined Silver Bridge
in early 2009.
Going
forwards, the firm’s chief executive Steve Prostano will continue
to oversee
the family office partners division, and Taff will remain
involved with this
side of the business. As such there are no plans to extend the
team at this
point.
Burnham Gibson
Financial Group, the California-based financial planning firm,
appointed Tia
Cirksena as director of retirement services.
Cirksena
previously held senior positions at Principal Financial Group,
MetLife, and
Transamerica Retirement Services. In addition to dealing directly
with clients,
she will be contributing to operations, client retention
programs, and related
development strategies.
Affiliated
Managers Group, the New York-listed asset manager, selected
Andrew Dyson for
the newly-created position of executive vice president, with
responsibility for
the company’s global distribution platform. He will be based in
AMG’s office in
London.
Dyson joins
the firm from one of its competitors, BlackRock, where he was
head of the
global institutional client business. He was previously
responsible for
international distribution at Merrill Lynch Investment Managers,
which merged
with BlackRock in 2006.
US-based
Guggenheim Partners appointed Bryan Moss as chairman of its
business aircraft
investments activities, a role in which he is charged with
expanding this
division’s global reach.
Moss was
previously the vice chairman and president of Gulfstream
Aerospace, a
subsidiary of General Dynamics Corporation. He is also a former
executive vice
president of the parent company. In the past he served on
councils such as the
US-China Business Council and he currently sits on the board of
directors
of RTI International.
Bank of
America said it is poised to double its roster of financial
solutions advisors
to over 1,000 before the end of 2011 as it moves to capture a
wider share of
the country's mass affluent.
New
Jersey-based advisor Brinton Eaton appointed Mary Ellen Hancock
as a financial
advisor.
Hancock is a
certified financial planner practitioner and joins the company
after 12 years
at Wells Fargo Private Bank, where she held various roles,
including client
management associate, financial advisor and reigonal financial
planner.
In her new
role at Brinton Eaton, she will be part of a team that
specializes in financial
planning, income tax and estate planning, investment management
and family
office services.
Northern Trust
appointed John Hoffman as president of its New York personal
financial services
business, a role in which he is responsible for overall
management of the
division.
Hoffman joined
Northern Trust when it opened its New
York office back in 2003, where, as a senior wealth
advisor, he helped develop the wealth advisory unit. Before
joining Northern
Trust he was with US Trust for eight years, latterly as a senior
vice president
within the firm’s high net worth planning group.
In his new
position Hoffman reports to Jeff Kauffman, northeast region
president and chief
executive.
Citi Private
Bank appointed Patricia McDermott – latterly of US Trust – as a
managing
director and head of the bank in Connecticut
and Westchester.
At US Trust,
part of Bank of America
Private Wealth Management, McDermott was managing director and
market executive
for Westport and New Haven, Connecticut.
She joined that firm in 2007 from BNY Mellon Wealth Management,
where she was Connecticut market
leader.
In her new
position at Citi she is based in Greenwich
and reports to Paul Hubert, eastern regional executive.
New wealth
manager Canal Capital Management opened its main office in
Shockoe Slip in Richmond, Virginia,
a month after it was established.
The firm was
set up by Neil Gilliss, a former a partner at Johnson and GiIliss
Wealth
Management Group, to provide financial planning and investment
management
services for individuals, business owners and endowments.
Gilliss brought
a number of employees to the new venture, including Charles
Renner, marketing
director; Noah Greenbaum, advisor; Hunter Hopcroft, research
analyst; and
Charlene Harkrader, director of client relations.
Paracle
Advisors, the Mercer Island, Washington-based wealth management
firm, named
Scott Szeman as its new chief investment officer.
In this role
Szeman will be responsible for the overall investment strategy
and investment
research responsibilities of the firm. The firm said his
appointment was part
of plans to strengthen and enhance its investment advisory
services.
St Louis-based
Enterprise Financial Services appointed Joseph Gazzoli as the new
chief
executive of Enterprise Trust, its wealth management and trust
unit.
Gazzoli’s most
recent employer was AHM Financial, also in St Louis,
Missouri,
where he established an asset management capability. Before that
he was
responsible for wealth management at UMB Financial, based in
Kansas City in the same state.
Wealth
Management Solutions, the advisory firm which is part of
Prudential Financial, appointed John Yackel as senior vice
president
and director of sales and relationship management.
Yackel most
recently worked with ultra high net worth clients at Fortigent.
Before that, he
was with SEI. His expertise covers banks, trust companies,
registered
investment advisors and family offices.
Religare
Global Asset Management, the multi-boutique asset management arm
of Religare
Enterprises, named Alan Berkshire as president for North
America.
Berkshire most recently served as founding
partner at Estancia Capital Management and worked for over 10
years at Nuveen
Investments before that.
Boston Private
Bank & Trust hired four senior portfolio managers and promoted
two members
of staff.
Carl Young and
David Goss were brought into the firm as senior vice presidents
and portfolio
managers, while William Lavelle and Kelly McKernan were appointed
as vice
presidents and portfolio managers. They will all work with both
individual and
institutional clients.
Christopher
O'Connell was promoted to the role of sales manager, responsible
for managing
the bank’s sales team, in addition to his responsibilities as a
senior vice
president and portfolio manager.
Jason
O'Connell was promoted internally to become director of research,
responsible
for overseeing the firm’s analyst staff; coordinating in-house
primary
research; and managing the relationships with and budget
allocations to
external research, brokerage, and analytics technology providers.
He takes on
the position in addition to his role as a vice president and
portfolio manager.
NewBridge
Bank, the North-Carolina based state-chartered community bank,
appointed Bill
Green as a senior vice president and private banking executive in
Forsyth County.
Green will be
based in the Winston-Salem
office and reports directly to Jerry Beasley, executive vice
president and
director of private banking.
Goldman Sachs
elected Dr Debora Spar as an independent director of the firm
with immediate
effect, bringing the number of directors on Goldman’s board to
11, including
nine independents.
Dr Spar will
be a member of each of the firm’s audit, risk, compensation and
corporate
governance, and nominating committees.
Dr Spar is
president of Barnard
College, the New
York-based liberal arts college for women. Before joining Barnard
in July 2008,
she spent 17 years on the faculty of Harvard
Business School.
Royal Bank of Canada
appointed Heather Munroe-Blum and Bridget van Kralingen to its
board of
directors.
Dr Munroe-Blum
is a member of the Science, Technology and Innovation Council of
Canada as well
as the committee on research universities of the National
Research Council in America.
Van Kralingen
is the general manager of North America, IBM Corporation in
New
York, responsible for strategy, execution, business results
and
client satisfaction for IBM's businesses in Canada
and the US.
PrivateBancorp
named Chris Carman as the new regional manager of St Louis
and Kansas City
for the private wealth division of The PrivateBank.
Carman joined
The PrivateBank from the St Louis-based financial technology firm
Exegy, where
he held the position of senior vice president for business
development since
2007. In his new role he will lead the delivery of the firm’s
trust, investment
management and private banking services, and will also work with
the commercial
banking team to introduce private wealth services to clients.
UBS Wealth
Management Americas brought in a family of veteran advisors from
Morgan Stanley
Smith Barney for its Charlotte office in North Carolina.
Charles
Stoner, his wife Eileen Stoner, son Chuck Stoner Jr and
daughter-in-law
Christina Stoner, joined the company bringing a total of $3.9
million in fees
and commissions and $300 million in assets under management.
Charles and
Eileen Stoner were appointed as senior executives at the UBS
branch, while
Chuck and Christina are client services associates. They will
work with other
new client service associates Julie Stewartson, Heather Budgick,
Julia Krauss
and Amy Lowe. They report to Craig Cmiel, complex director, and
Dan McLaughlin,
assistant branch manager.
Cayman-based
Cedrus Investments appointed Denise Gower – latterly the head of
marketing for
Cayman Finance – as vice president of business development.
Based at the
firm’s Grand Cayman headquarters, Gower is
responsible for global business development, client relationship
management,
and marketing.
Prior to
working at Cayman Finance, Gower was a senior business
development and market
manager at the offshore legal and fiduciary services firm Ogier.
CCH Trust
Services, part of the Wolters Kluwer business, appointed Patrick
Alyward as
general manager of Trust US, a tax compliance system for bank
trust divisions
and wealth organizations.
Alyward joined
the company from PNC Bank, where he was executive vice president
and director
of client services. In his new role he is responsible for the
company's overall
product strategy, sales and development.
Bermuda-headquartered
hedge fund administrator Butterfield Fulcrum appointed Brian
Young as a
director of business development.
Based in the Pacific Northwest, Young will be responsible for
promoting Butterfield Fulcrum’s fund administration services to
investment
managers across the west coast and mid-west markets. Young, who
joined Butterfield
Fulcrum in 2010, was previously located in New York.
Citi Private
Bank hired Christopher Adams as managing director of investment
finance for its
New York
office.
Adams most recently served as an executive
director in the tailored lending group of Morgan Stanley Private
Bank, a role
he took up in 2009.
He rejoins
Citi, having previously worked there for 20 years, including at
the firm's
private banking and global wealth management businesses in
New
York and Los Angeles.
BlackRock
appointed Terrence Keeley as managing director and head of the
official
institutions group.
Keeley steps
into this newly-created position from Sovereign Trends, where he
served as
founder and senior managing principal. As part of the BlackRock
management
team, he is responsible for overseeing the development of the
relationships and
services the firm provides to clients worlwide, comprising
central banks,
sovereign wealth funds, and supra-nationals.
In addition,
he will also be instrumental in the design and execution of the
recently
launched BlackRock Investment Institute. He reports jointly to
Robert
Fairbairn, the senior managing director and head of the global
client group,
and Lee Kempler, the managing director and executive director of
the Investment
Institute.
Affiliated
Managers Group, the New York-listed asset management giant,
appointed John
Copeland as president of AMG Wealth Partners, a newly-formed
subsidiary
focusing on investments in boutique wealth management firms.
Copeland joins
AMG Wealth Partners from Morgan Stanley, where he was a senior
partner at one
of the firm’s largest private wealth management teams. He is also
a former
managing director at Lehman Brothers in the Private Investment
Management
business.
In his new
role he will be based in West Palm
Beach, Florida, and
report directly to Sean Healey, AMG’s chairman and chief
executive.
JP Morgan
Chase & Co made a number of changes to its leadership structure
following
the announcement that Heidi Miller, president of its
international business, will
retire early next year.
Miller, a
30-year financial veteran, held roles such as chief financial
officer of
Citigroup and Bank One, and chief executive of JPMorgan Chase’s
Treasury &
Securities Services business.
On leaving,
she recommended JP Morgan’s international activities be embedded
into the
various business lines.
Accordingly,
the position of Todd Maclin, chief executive of Commercial Bank,
was extended
to include parts of the retail business, including the branch
network, the
consumer franchise, small business banking and the Chase private
client
business.
Charlie
Scharf, who heads up retail financial services, will become a
partner in One
Equity Partners, JP Morgan’s private equity arm. He will continue
to work with
the retail business to help with the transition, the firm said.
On the
investment banking side, Jes Staley, CEO of that business, takes
on added
responsibilities for the oversight and coordination of the
international
franchise.
Lastly, Gordon
Smith, CEO of card services, will be in charge of JP Morgan’s
auto finance and
student lending divisions, in addition to his current role.
Integrated
Wealth Management expanded its staff numbers with several new
hires.
The new
appointments include Erin Scott as business development
coordinator, John Wong
as chief compliance officer and operations coordinator, Melissa
Scheinwald as
vice president of operations, and Amber Lembo as a documentations
specialist.
The entire IWM
team is led by president and chief executive Jim Casey.
Curian Capital,
an RIA which provides fee-based separately managed accounts to
financial
professionals, expanded its sales force with the addition of 11
regional
consultants covering eight new territories.
The firm added
positions for one external consultant and one internal consultant
to each
additional region, bringing its sales force headcount to 90. To
complete the
hiring, five more internal consultants will be hired.
Overseeing
distribution efforts in the new eastern territories is divisional
vice president
Mike Petko, while in the west divisional vice president Tim
Parkinson will
manage the efforts.
The external
consultants are Carl Robinson for west Massachusetts, Vermont,
New Hampshire
and Maine; AJ Amos for Tennessee and east Kentucky; Ben Keith for
south New
Jersey; Anthony Ramondo for the District of Columbia, northwest
North Carolina
and Western Virginia; Tom Bauer for southeast Kansas, southwest
Missouri,
Oklahoma, and northwest Texas; Rodger Hoofnagle for Louisiana and
east Texas;
Scott Gunderson for North Dakota, South Dakota, Wyoming and
Montana; and
Dominick McPeake for Oregon and south Idaho.
The internal
consultants appointed so far are Will Sherrard for west
Massachusetts, Vermont,
New Hampshire and Maine; Felicia Lewis for southeast Kansas,
southwest
Missouri, Oklahoma and northwest Texas; and Jamie Hart for
Louisiana and east
Texas.
Philip Sachs,
a senior vice president at Morgan Stanley Smith Barney, left to
become a
partner at the advisory firm and multi-family office WMS
Partners, taking with
him colleagues Christine Buckley and Tanika McNair.
Maryland-based
WMS Partners was established by Timothy Chase and Martin Eby in
1992.
Union Bank,
the primary subsidiary of San Francisco-based UnionBanCal
Corporation, appointed Dennis Mooradian as executive
vice
president for the wealth markets division, overseeing units
including The
Private Bank.
Prior to this
appointment, Mooradian was executive vice president for the
wealth and
institutional management unit of Comerica Incorporated, where he
led 1,300
employees in the private banking, institutional, personal trust,
and 401(k)
industries. He has also worked at Wells Fargo, initially heading
the private
client service division and later leading the financial
consultant advisory
group.
In his new
role, Mooradian will be overseeing several of Union Bank's
subsidiaries,
including The Private Bank, Highmark Capital Management, and
UnionBanc
Investment Services. He reports directly to John Erickson, vice
chairman and
chief corporate banking officer.
City National
Bank hired Kristin Stansbury from Northern Trust as a vice
president and senior
private banker at its private client services team in the
East
Bay area, San Francisco, California.
Stansbury
brings around 20 years of financial services experience to the
position and
will focus on developing new client relationships at City
National. She was at
Northern Trust for nearly 18 years.
In her new
role she will work with both high net worth families and select
non-profit and
professional services firms. She reports directly to David
Lawrence, senior
vice president and manager of private client services in the
region.
David Easthope
rejoined Celent’s securities and investments team as a research
director, based
at the research and advisory firm’s San
Francisco, California
office.
Easthope
worked for Celent in the past, joining the firm in 2005 and going
on to become
a research director there. He left in 2010 to join Charles
Schwab, where he
worked as a director of strategy until recently.
He specializes
in global financial exchanges and market structure, advanced
trading
technology, and North American retail brokerage.
Bank of
America appointed Ken Sheldon as state president of its New
Hampshire business.
Sheldon joined
predecessor institution Fleet Bank in 1990. In his new role, he
will be
responsible for integrating Bank of America's business lines in
the state and
overseeing corporate social responsibility activities, including
philanthropic
giving and employee volunteerism.
First Republic
Bank hired Basant Kedia from HSBC as a senior relationship
manager in Palo Alto, California.
Kedia comes
from a background of working with venture capital clients, for
which the bank
has just opened a dedicated office in Menlo
Park, California.
Kedia was at
HSBC Bank for six years, latterly as a vice president at the
Hong
Kong-and London-listed banking group. Prior to that, he worked
for
the US Small Business Administration and the private equity firm
Growth Capital
Partners.
Oppenheimer
& Co added three new members to its institutional sales team.
Bryan Welch,
John Edelman, and Fredrik Martenson joined as executive directors
in the
equities group. They all report directly to Charles Holmes,
managing director,
head of equities.
Allianz Life
Insurance hired Roberta Eckert and Michael Agan as wealth
management
consultants at its fee-based distribution unit.
Eckert, who
joins the company from Genworth Financial where she was head of
the sales
development team, will be responsible for the Southeast district.
Agan,
meanwhile, who joins from the AXA Distributors group where he led
the
retirement income center, will cover the Great Lakes
district.
BBVA Compass
appointed Shelaghmichael Brown to the board of directors of BBVA
Compass, as
she leaves her role at the helm of the firm’s retail banking
division.
Brown oversaw
a network of some 700 branches in her former role, and has also
appeared in the
list of “25 Most Powerful Women in Banking,” from US
Banker.
Going
forwards, Jeff Talpas will take over responsibility for BBVA
Compass’ retail
network and product team. He was latterly in charge of the
day-to-day
operations of the branch network.
Enrique
Gonzalez was appointed to lead the corporate shared services area
with
responsibility for marketing, customer intelligence and
alternative delivery
channels.
Brett D’Arcy,
the former chief investment officer of CBIZ Wealth Management,
founded a new
company, D’Arcy Capital Management, following the sale of CBIZ to
Mariner
Wealth Advisors early this year.
D’Arcy was at
CBIZ Wealth Management, as well as predecessor firm Nation Smith
Hermes
Diamond, since joining in 2003.
The
recently-launched firm is headquartered in San Diego,
California
and will focus its research on the large-cap value stocks and
investment-grade
bonds spaces. Krysta Cordill, a former senior auditor and planner
at CBIZ, also
joined the venture as director of advisory services.
Brown Brothers
Harriman appointed Mark Egert as director of compliance for its
investment
management and markets lines of businesses, based at its New York
office.
Egert, who
will also be the firm’s chief compliance officer for FINRA, will
report to
Kathryn George, a partner at BBH. He replaces Beth Haddock, who
is taking up a
role in the firm’s office of the general counsel.
Egert joins
BBH from Crowell & Moring’s corporate, financial services and
white collar
and regulatory enforcement groups where he was responsible for
the firm’s
regulatory and compliance practice for financial institutions.
UBS Wealth Management
Americas added financial advisor David Mattia to its growing team
in Rochester, New
York.
Mattia was
hired from Convergent Wealth Advisors, where he had $1.2 million
in fees and
commissions and $170 million in assets under management. He
reports directly to
Sam Messina, the complex director.
Baird ramped
up its new San Francisco
wealth management office with the hiring of financial advisors
Jonathan
Fitzgibbons, managing director, and Joyce Linker, senior vice
president. In
addition to the financial advisory duo, Katherine LeClair was
hired as a
registered client relationship specialist.
All three joined
Baird from ThinkEquity, which is also based in San Francisco,
where they worked for several
years. Fitzgibbons and Linker oversaw a combined $300 million in
assets and
generated nearly $2 million in annual production.
Barclays
Americas chairman Archibald Cox tendered his resignation, with
effect from 30
June 2011, to pursue outside interests.
Cox became
part of the UK-listed banking giant in 2009, after serving for
several years as
chief executive of Morgan Stanley International and as president
and chief
executive of CS First Boston Corporation. As chairman of Barclays
Americas, he
had been working with the firm's various leaders to strengthen
client
relationships and extend the firm's banking platform in the US,
Brazil,
and Mexico.
HTG Investment
Advisors, a firm which caters to individual clients, appointed
Valerie Connolly
as a senior investment advisor.
Connolly
previously held management positions at Krauss
Whiting, US
Trust, and Fleet Investment Advisors. She has been in the
financial services
industry for around 25 years and focuses on areas such as
retirement planning,
wealth transfer strategies and education funding.
The
international law firm Bracewell & Giuliani expanded its wealth
management
practice with the appointment of Glen Eichelberger and Brian
Teaff to its Houston office.
Both lawyers
joined the firm from Fulbright & Jaworski. In his new role,
Eichelberger
will focus on trust, estate and philanthropic planning and
administration for
high net worth clients. Meanwhile, Teaff will be focused on
wealth management
services, such as dealing with wealth preservation and
tax-related concerns.
Minnessotta-based
White Oaks Wealth Advisors hired Preston Koenig as a portfolio
administrator.
Koenig joined
the company from Wells Fargo Institutional Retirement and Trust,
where he
served as a trust administrator for the last five years. At White
Oaks, he will
be responsible for day-to-day client relations activities,
including account
set-up, trading and portoflio management, common fund
administration, cash
allocation, and disbursement.
Kansas-based
asset manager Waddell & Reed appointed Shalisa Pierce as an
associate
managing principal.
Pierce joined
the firm from the wealth management group of the financial
services company
TIAA-CREF, where she was a vice president.
In her new
role, Pierce, a financial services industry veteran of some 23
years, will
reportedly oversee 10 financial advisors throughout the Napa
area.
JP Morgan
Chase appointed Glenn Tilton as chairman of its Midwest
business and member of its firm-wide executive committee.
Tilton, who
was latterly the chairman and chief executive of UAL Corporation
and United
Airlines, is now the senior executive across all JP Morgan’s
businesses and
functions in the region.
He will be
based in Chicago
for his new position, in which he will focus on recruiting
talent, overseeing
the firm's charitable contribution budget in the region, and
coordinating
government and public affairs initiatives, as well as maintaining
key
relationships with elected officials.
Rockefeller Financial
appointed John O’Hara as a managing director and senior advisor.
Based in New York, O'Hara focuses
on business development activities for the firm. Given his role
in new business
development, he will be working across all business groups at
Rockefeller
Financial.
He was
latterly the chief operating officer of Franklin Street Partners,
a North
Carolina-based wealth management firm, prior to which he was a
managing
director in the investment management division of Goldman Sachs,
and of
Commodities Corporation, which Goldman acquired in 1997.
Quarles &
Brady, the US
law firm, brought in Kirk Hoopingarner as a partner at its trust
and estates
practice.
Based in the
firm's Chicago
office, Hoopingarner joins both the trust and estates and tax
exempt
organizations group. He will focus on trust and estate
administration, wealth
planning and philanthropy for high net worth families and
individuals.
Also joining
Quarles & Brady is Nicholas Schmidbauer, as a partner in the
intellectual
property group. Schmidbauer will work on the preparation and
prosecution of
patent applications.
American
Century Investments appointed Peter Cieszko as head of
intermediary and
institutional sales in North America.
Cieszko was
previously the head of distribution at Fidelity Investments and
comes in at a
time American Century is looking to expand its sales force in the
region. The
company also is planning to add to its line of offerings to
include more
alternative and international-equity products.
Cardinal Bank
hired Quentin Roos and Gregory Cartrette as assistant vice
presidents for its
wealth management division.
Roos and
Cartrette, both licensed financial advisors, will join as
investment advisors
with Cardinal Wealth Services. Both will be responsible for
trading and
investment oversight, individual portfolio management and
business development
in their respective markets.
Roos joined
from TD Wealth Management; he also previously worked for Smith
Barney, Morgan
Stanley and UBS Paine Webber.
Cartrette was
with PNC Investments; before that, he owned his own financial
company in Maryland.
Marcum, the
accounting and advisory services company, appointed James Ashe
as
partner-in-charge of its advisory services group.
Ashe took over
from Sam Rosenfarb, who will continue to lead the advisory
division in the New York City office.
Ashe is responsible for the growth and development of the
advisory unit, which
provides forensic, bankruptcy, investigative and valuation
services.
Morgan Stanley
hired Michael Brakey, formerly at Bank of America, as head of
high net worth
lending.
Brakey, a
21-year industry veteran, is assigned with leading the continued
development of
lending products, including commercial and securities-based
loans, within the
investment bank's private banking group. He reports to Mark
Connolly, head of
products for the business.
UBS Wealth
Management hired Tom Ulrich and Nick Bryant from Merrill Lynch
Wealth
Management as advisors for its Ohio
office.
At Merrill
Lynch Wealth Management Ulrich and Bryant together generated $1.6
million in
fees and commissions, and handled $260 million in client assets.
They report
directly to Michael Lundon, the complex director.
The fund services
firm Butterfield Fulcrum appointed Jeff Nason as managing
director, global and
strategic relationships, a newly-created position.
For the role,
Nason will be based in New York
and will be responsible for further developing the company's
relationships,
particularly with large, complex alternative asset fund groups.
He will work
with a team of client integration professionals, as well as CAs
and CFAs, to
provide portfolio and investor reporting.
Before
Butterfield, Nason founded and ran the investment firm Marlin
Holdings and its
wholly-owned subsidiary Marlin Global Insight.
ING Insurance
appointed Maliz Beams as chief executive of its US retirement
business.
Beams moved to
ING after serving as president and CEO of TIAA-CREF's individual
and
institutional services. In her new role, she is responsible for
linking ING
Retirement Services and ING Individual Retirement to create a
unified
operation.
She is based
in the firm's Windsor, Connecticut and Braintree, Massachusetts
offices and reports
directly to Rob Leary, the president and CEO of ING US.
Peregrine
Financial Group appointed John Courtright as president of
Peregrine Asset
Management, and Mark Lishchynsky as president of Peregrine
Diversified
Investment Services, its RIA subsidiary.
Courtright joined
the firm as a managing director in 2008. He takes over the
president role from
Neil Aslin, who is becoming the chairman of the board of
directors for both
Peregrine Asset Management and Peregrine Diversified. Aslin is
also vice
chairman of the parent firm.
Lishchynsky
joins Peregrine Diversified, which was established only last
year, from Brewer
Financial Services. It is unclear who held this role previously.
BNY Mellon Wealth
Management added to its Southern California
team with the hiring of Boryana Zeitz as a senior portfolio
manager for high
net worth clients.
Zeitz was
previously a trust and estates attorney at Katten Muchin Rosenman
and
specializes in trust and estate administration, and gift and
estate
philanthropic planning. She joins a team of 80 professionals in
the region and
reports directly to James Hillman, regional managing director.
Boutique
broker-dealer Financial Advisers of America made changes to its
roster of
senior managers. Effective immediately, Ken Johnston takes the
lead as the
firm's chairman, with Jodi Johnston acting as chief executive and
Todd Pack as
president and chief operating officer.
Previously,
Ken Johnston was the CEO, Jodi Johnston the president, and Pack
the COO.
In these new
roles, Ken Johnson will be responsible for overseeing the firm's
growth
initiative for 2011, as it targets a wider presence. Jodi
Johnston will take
care of overall direction, particularly in sales, marketing and
recruitment,
while Pack will supervise day-to-day operations and due diligence
processes.
First Republic
Bank appointed Betsy Sullivan as a managing director and
relationship manager
in Boston, as it continues to expand its
coverage of the US
market.
Prior to this position,
she served as vice president for Boston Private Bank and also
previously
earlier worked at Sovereign Bank and Citizens Bank. She will be
based at the Federal Street
office, serving clients in the Boston, South Shore,
and Cape Cod areas.
HighTower recruited
the Blanke Schein group in Palm Desert,
California to its advisor
network.
The group is
led by William Blanke, Robert Schein and J Michael Shields, all
of who took up
the role as partners and managing directors at HighTower.
Blanke has 37
years of industry experience, including 20 at Morgan Stanley
Smith Barney;
Schein has 20 years of experience, having spent the last 10 at
MSSB; and
Shields had also spent three years at MSSB.