People Moves

North America Executive Moves - January 2011

9 February 2011

North America Executive Moves - January 2011

The latest roundup of North American moves in the wealth management industry.

A team of wealth management advisors left Bank of America’s Merrill Lynch unit in St Louis to join JP Morgan. The advisors are: Rajnich Bjuya, Aaron Foster and Gino Caira, who had been with Merrill Lynch’s Chesterfield office; Jill Lohr, who had been with Merrill’s Ladue office, and Martin Ruether of Merrill’s Clayton office.

BMO Harris Private Banking hired Janine Guenther as vice president and managing director for British Columbia. She replaced Diana Reid who was named national managing director and head of the bank's new private wealth group launched last year to target ultra high net worth investors.

Nicholas Adams, the former deputy state treasurer for Delaware, joined Wilmington Trust’s Corporate Client Services client development team. Wilmington also hired Timothy Carroll for its Wealth Advisory Services business to focus on clients in Sussex County in Delaware and on the Eastern Shore of Maryland. Previously Carroll was a senior wealth planner at PNC Bank.

Citi Private Bank made three hires, two from US Trust Bank of America Private Wealth Management.

In New York City Philip Fahey joined as director and private banker from US Trust where he was a vice president and private client manager. Fowler Hatley joined as director and investment counselor in Dallas from AVM/III Associates. On the West Coast Lee Garsson signed on in San Francisco as a director and wealth planner from US Trust.

First Republic Bank signed on Philip Korn in Palo Alto, California as relationship manager and managing director. Prior to joining First Republic, Korn was responsible for venture capital relationships at TriNet.

Goldman Sachs elevated Jan Hatzius and Dominic Wilson to run its global economics arm. The men took over from Jim O’Neill, now chairman of the firm’s asset management business and credited with coining the widely-used acronym “BRIC”.

Kristi Combs joined family office Greycourt as a director in its Portland, Oregon office. Most recently, she spent five years with CTC Consulting as a partner and director of marketing.

Morgan Stanley made a series of major changes to its senior executives, including in the wealth segment of the US business.

Brokerage joint venture president Charlie Johnston will retire at year's end, to be succeeded by asset-management head Greg Fleming. Fleming joined Morgan Stanley in February last year to head its asset management arm. Fleming will continue to lead that business—Morgan Stanley Investment Management—and serve as president of global wealth management.

US Trust hired 10 wealth management execs in January. Frank Levin joined as a private client advisor, based in New York City, from Bank of New York Mellon.

In McLean, Virginia three joined from Wells Fargo. Dwayne Brown came on board as private client manager and John Devine and Karin Gifuni as private client advisors.

Joel Yudenfreund was hired from Citi Private Bank as a private client consultant based in Boca Raton, Florida and Lisa Adelstein as private client advisor in Chicago also from Citi Private Bank.

In Fort Worth, Texas Jay Bartley and Elizabeth Elgie came on board as client advisors from Comerica. In Houston Michael Rogala joined as a private client advisor from LPL Financial.

Jason Garcia signed on as a private client advisor based in Dallas from Northern Trust in Chicago.

Steve Bogner joined HighTower from Morgan Stanley Smith Barney in the practice led by Richard Saperstein in New York. The move marked HighTower’s first tuck-in transaction - expanding its business by merging a new advisor's practice into one of the firm’s advisor teams.

Chicago-based PrivateBancorp named William Norris chief investment officer and head of trust and investments for the Private Wealth group of its The PrivateBank subsidiary. Norris, a 30-year industry veteran, joined from JP Morgan's Private Bank and private wealth management services fiduciary group, where he was managing director and the chief fiduciary investment officer.

CTPartners signed Cornelia Kiley as partner in its Financial Services Practice based in New York. She came on board from Russell Reynolds Associates where she was a senior member of the firm’s Asset and Wealth Management Practice.

Baird hired Chris Brewster to lead the firm’s wealth management offices in Columbus, Ohio. He joined from Morgan Stanley Smith Barney.

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