Here is a round-up of all the industry moves covered by Family Wealth Report last month.

Turner Investments, which recently merged with the investment advisory firm Veracen, named Stefania Perrucci as global head of fixed income, as the firm anticipates the launch of a series of fixed income, credit and absolute return investment strategies. In this newly-created role, Perrucci serves on Turner’s investment committee and is a member of the firm’s fixed income/credit, yield/income, and absolute return investment sub-committees. Before joining Turner, Perrucci was the founder of New Sky Capital, where she served as chief investment officer for a macro, fixed income, relative value fund. She was also a fixed income portfolio manager at Morgan Stanley and began her investment career as a senior risk specialist at International Finance Corporation, World Bank Group in 1997. 

Ursula Auger joined Castle Wealth Management as a portfolio manager and member of the investment committee. Auger has worked for firms such as JP Morgan, Citibank and Wells Fargo, with a focus on affluent and ultra high net worth families. 

Matthew Marsh joined Dynasty Financial Partners as director of investment solutions, covering the western and central divisions. Marsh will work closely with Scott Welch, chief investment officer, and Michael Moriarty, director of investment platforms, to help Dynasty's network of advisory firms with technology installments, as well as provide research resources.

Marsh was previously southwest regional manager for the consulting group at Morgan Stanley, responsible for all advisory sales activity. Between 2005 and 2007, he was a vice president and wealth management specialist, responsible for all wealth management activities for two regions within the Smith Barney retail framework. In 2003-2004, he was a wealth management advisor at Merrill Lynch in San Diego, CA, and from 1999-2003 held senior equity trading/portfolio manager and associate roles at Wells Fargo Securities and Wachovia Securities. In his new role at Dynasty, Marsh will report to Todd Thomson, Dynasty’s chairman, and will split his time between the firm’s San Francisco, CA, and Chicago, IL, corporate offices.

Marc Mallett is to lead the newly-merged product, account management and sales organizations for SimCorp North America. “By consolidating product and sales, clients and prospects will be able to work with a more streamlined organization unified under a single point of executive accountability,” said James Corrigan, managing director of SimCorp North America, a provider of investment management solutions and services to the global financial services industry.

Mallett joined SimCorp North America in January 2015 to establish “a more formal local product management organization,” the firm said, adding: “Since then, he has demonstrated success in developing new business, enriching SimCorp's client engagement model, and driving North American partnerships with the consulting community.” Before joining SimCorp, Mallett held leadership roles at firms such as Northern Trust, where he was head of product and strategy of global fund services, and the consultancy Citisoft, where he was chief operating officer. He also previously served as a vice president of technology at Fidelity Investments.

Wunderlich, a full-service investment firm headquartered in Memphis, TN, added Michel Rittenberg to its wealth management team as manager of the Miami branch. Rittenberg, a 36-year veteran of the financial services industry, previously worked at Raymond James & Associates. Before Raymond James, he was a branch manager at Morgan Keegan & Co in Miami from 2005 to 2012. Earlier still, he served as New York City complex manager at H&R Block Financial Advisor, and was a managing director at Prudential Global Derivatives in New York. He began his career at Merrill Lynch.

Atlanta, GA-based Smith & Howard Wealth Management brought in Brad Swinsburg, who has a strong background in the family office space, as director of investments. Swinsburg spent the past five years as a vice president and senior portfolio manager in the Atlanta branch of Hirtle, Callaghan & Co, a Pennsylvania-based outsourced chief investment office. He has also previously served as a global investment specialist at JP Morgan Private Bank, and spent a decade earlier in his career at Goldman Sachs.

Schroders made three senior appointments in New York to underpin the strong growth of its US fixed income business. David Knutson joined the US credit team as head of research for the Americas, reporting to Wes Sparks, head of US credit. He previously worked at Legal and General Investment Management America, where he was a senior analyst in fixed income research. Before this, he spent three years as director of fixed income research at Mason Street Advisors, and seven years working in credit research and debt capital markets at UBS. He replaces Jack Davis, who is taking on a senior analyst role within the company.

Meanwhile, Eric Skelton joined the global fixed income and FX trading team, covering US investment-grade credit. Skelton will report to Gregg Moore, head of trading in the Americas, and also work closely with US credit portfolio managers Rick Rezek and Ryan Mostafa, as well as the rest of the US fixed income trading desk. He was previously a credit trader at Achievement Asset Management (formerly Peak6 Advisors), and before that spent three years at Nuveen Investments. Lastly, Chris Eger joined the US credit team in a newly-created role as portfolio manager, reporting to Sparks. Eger joined from JP Morgan Chase, having previously worked at AIG Global Investment Group.

The head of Wells Fargo's private client group, David Kowach, was named as president and head of Wells Fargo Advisors, the company’s national retail brokerage. A successor will be announced in due course, the firm said. In his new role, Kowach will report to David Carroll, senior executive vice president and head of Wells Fargo Wealth and Investment Management. He succeeds Mary Mack, who was named head of community banking. Before leading the private client business, Kowach led WFA’s business development group – a role in which he was responsible for financial advisor recruitment and retention, growth strategies and national sales. He began his career as a financial advisor in the Philadelphia area. 

Brett Abess, Thad Adams and Susan Strickroot Adams were elected to the board of Fiduciary Trust International of the South. Abess is a partner at ThinkLAB Ventures, his family office formed in 2008 after the sale of his family-owned City National Bank of Florida. Adams, meanwhile, is a senior vice president responsible for leasing and investment sales at Allen Morris Company, which is headquartered in Coral Gables, FL. Strickroot Adams is a partner in the Coral Gables law firm of Adams & Adams, concentrating her practice in the areas of estate planning and probate. Before entering the private practice of law, she served as senior vice president and trust counsel of Fiduciary Trust International of the South.

Julius Baer recruited a handful of private bankers from HSBC to grow its Latin American business, Bloomberg reported. The Swiss bank declined to comment on the hires when contacted by this publication. The private bankers are reportedly based in Monaco and Switzerland, according to one of three people with knowledge of the matter, Bloomberg said. Last month, Alain Ucari was appointed as chairman of Julius Baer in Monaco, with Albert Henriques from HSBC replacing him as chief executive of the Monaco business. This publication understands that additional bankers will join Henriques in Monaco, including a dedicated LatAm team. According to Bloomberg, HSBC is in the process of divesting a portfolio of LatAm client assets in Switzerland to Banco Santander, as the British lender restructures its private bank. The deal may include $4-6 billion of assets under management, the news service added, citing people with knowledge of the matter. 

US Trust, part of Bank of America, made 14 hires across 12 states from firms including JP Morgan, Northern Trust and BNY Mellon. In California, Danielle Conkling joined the Palo Alto office as a private client advisor, having previously been a private banker at Citi and earlier JP Morgan.

In Florida, Yolanda McLeod Terry joined the Winter Park office as a private client manager from SunTrust Banks, where she was a wealth manager. Meanwhile, in Illinois, William Fritz was appointed as a private client advisor in Chicago. He was previously a private banker at JP Morgan.

In Missouri, Marvin Anderson joined the Saint Louis office as a private client advisor from JP Morgan Private Bank, and in New Jersey Timothy Quinn joined in Florham Park as a private client advisor from GAMCO Asset Management. In other moves, Mary Yi joined the New York office as a personal tax accountant, having previously worked at RSM US as a tax manager. Also in the Big Apple, Nora Reinhart joined as a senior trust officer. She was previously a senior fiduciary relationship manager at BNY Mellon Wealth Management.

Continuing the hires, Anne Davis stepped into the Charlotte, NC, office as a senior trust officer from PNC Wealth Management, where she was a wealth strategist, while, in Oklahoma, Stacey Sturgess joined in Tulsa as a senior trust officer from BOK Financial, where she was a senior trust/tax administrator.

Meanwhile, in Pennsylvania, Carolyn Meisel joined the Philadelphia branch as a regional fiduciary advisor, having previously worked at Heckscher, Teillon, Terrill & Sager as a trusts and estates attorney.
In South Carolina, Brian Hungerford joined the Greenville office as a private client advisor, having previously worked at Wells Fargo & Company as a commercial banker. Rounding off the hires, Mary Carswell joined in Nashville, TN, as a private client advisor from Credit Suisse Securities; in Texas, John McCulloch joined the Dallas office as a senior trust officer from Comerica Bank; and Maurice Jelks also joined US Trust in Dallas as a senior trust officer from Northern Trust. 

iCapital Network, an online provider of alternative investments, brought in three technology professionals. Eli Entin joined the firm as head of product, Mike November joined as head of platform architecture, and Kevin Scrivanich joined as director of product management. Entin was most recently vice president of product management at OnDeck Capital; November joined from Bridgewater Associates; and Scrivanich previously worked at E*TRADE Financial.

Kestra Private Wealth Services, an RIA subsidiary of Kestra Financial, hired Tim Lewis as director of business development, responsible for leading recruiting initiatives. Lewis joined Kestra PWS from Fidelity Investments, where he was vice president of institutional sales.  

Fund Evaluation Group appointed Michael Condon to the new position of senior vice president and outsourced chief investment officer (OCIO). Condon brings more than 20 years of experience as an acting CIO, having most recently served as CIO of Southern Methodist University, where he led a 15-person office and was responsible for all aspects of investing the university’s $1.5 billion endowment. As CIO of the University of Arkansas Foundation, he oversaw a $1.1 billion endowment, and during his 10-year tenure at Georgia Tech, the foundation endowment grew from $440 million to $1.5 billion.

BDO USA, the professional services firm, bolstered its Florida practice with the addition of over 100 staff, including 14 partners, from Goldstein Schechter Koch. The move added “significant resources to our growing wealth advisory practice,” said Wayne Berson, chief executive at BDO USA. GSK provides accounting, tax and wealth advisory services to public and private middle-market businesses, non-profits, and high net worth individuals through GSK Wealth Advisors. It has been a member of BDO Alliance USA since 2004. The combination of the two firms is subject to customary closing conditions and is expected to close by the end of the third quarter.

Navigant added seven new directors to support the firm’s expanding financial services advisory and compliance segment. “At a time when technology, regulation and innovation are increasing exposure to and the complexity of business risks, it is critical that we enhance our team with decades of law enforcement, investigative, regulatory, and risk management expertise,” said Ellen Zimiles, Navigant’s financial services advisory and compliance segment leader. The new recruits are: Joseph Campbell in Washington, DC; Jonathan Castro in New York; David Jones in Boston; John Loesch in Washington, DC; Gonzalo Sanchez in Miami; Samantha Welch in New York; and Benjamin Whitfield in Washington, DC. Combined, they have experience working at the FBI, within global financial institutions, the SEC, and international banks such as HSBC, Citigroup and Morgan Stanley, among other sectors. 

Merrill Lynch recruited Habib Yousefzadeh from Morgan Stanley in Oklahoma City. Yousefzadeh had $110 million in assets under management at his former firm. He has worked in the financial services industry since 1989, having also worked at Merrill Lynch and MetLife.

Michael Liou joined Citi Private Bank as a director and investment counselor in Palo Alto, CA. The firm confirmed that this is a new role that underscores its commitment to the Bay Area and broader US western region. Liou joined Citi from Anvil Capital Advisors, where he was founder and chief investment officer. Before that he spent 17 years at Goldman Sachs in private wealth management, securities and synthetic products. In his new role at Citi, he will report to Michael Remak, head of the northern California investments team.

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Philadelphia, PA-based Janney Montgomery Scott said it hired five financial advisors in July, bringing the firm’s total number of additions so far this year to 28. The latest recruits joined Janney in Florida, New York and Pennsylvania.  In Florida, Ryan joined as a financial advisor from Oppenheimer & Co and is based in Palm Beach Gardens. In New York, Peter Miezels, a senior vice president of wealth management, and Christopher Carpenter, a financial advisor, joined from Stifel, Nicolaus & Co. Carpenter, new to the business and working with Miezels, is a former Major League Baseball pitcher for the Chicago Cubs and Boston Red Sox. Lastly, in Pennsylvania, Janney hired William Manchester, also from Stifel, as a vice president of wealth management in Radnor. Meanwhile, in Bryn Mawr, Arthur Jones joined in the same capacity from Boenning & Scattergood. Lastly, in Pennsylvania, Janney hired William Manchester, also from Stifel, as a vice president of wealth management in Radnor. Meanwhile, in Bryn Mawr, Arthur Jones joined in the same capacity from Boenning & Scattergood.

Kelly Rodriques resigned as chief executive of PENSCO Trust Company, a wholly-owned subsidiary of Opus Bank, and as executive vice president of wealth services at Opus. Rodriques has led PENSCO since March 2010 and has served as executive vice president at Opus since the firm's acquisition of PENSCO in April 2016. He is being replaced by Curtis Glovier, who is joining from Fortress Investment Group as chairman and chief executive of PENSCO, and as head of wealth services at Opus. Glovier will continue to serve as a member of Opus’ board of directors, but as a management representative instead of as a board representative of Fortress. Meanwhile, Patrick Hughes, PENSCO’s senior president of business development, was appointed as president of PENSCO. Going forward, PENSCO will be led by Glovier, Hughes, and Mark Lee, chief operating officer.

St Louis, MO-based Benjamin Edwards & Co, the brokerage firm and RIA, launched a new office in Berryville, AR, as well as making a splash of hires across its existing offices. The firm added two advisors to its office in Sarasota, FL, while adding one advisor to each of its Edwardsville, IL, Wheaton, IL, Mandeville, LA, and Portland, OR, branches.

In Berryville, Allen Roger joined the new office as a vice president of investments from Wells Fargo Advisors, along with senior registered financial associate LeeAnn Ashford. In the Sunshine State, Marc Breuer was appointed as a financial consultant in Sarasota, moving over from Morgan Stanley, while Greg Hicks joined as a vice president of investments from Merrill Lynch. The firm launched its Sarasota office in 2015, and now has six employees there in total. 

Meanwhile, in Edwardsville, IL, Bradley Joiner left Merrill Lynch to join the office as a financial consultant, bringing Benjamin Edwards' total number of staff there to three. Also in Illinois, Christopher Larrabee, a managing director of investments, joined from Stifel Financial in Wheaton, where the firm also brought in Sheryl Aubry as a senior financial associate. The Wheaton office, which opened in 2010, now employs a total of 14, including eight financial advisors. Rounding off the hires, Kirby Newburger was appointed as a senior vice president of investments in Mandeville, LA, and Steve Potter as an associate vice president of investments in Portland, OR. They moved from Raymond Hjames and Stifel respectively.

Brian Howard was named president of Tompkins Financial Advisors, based in Ithaca, NY. Howard was previously a senior vice president and market manager at Key Bank, covering the central New York region and overseeing the wealth management division. Meanwhile, at US Trust, he held roles including managing director and market executive in Boston, MA, and senior vice president and market leader in central New York. 

A group of advisors formerly associated with Wells Fargo launched GYL Financial Synergies, an RIA, through Focus Financial Partners in Connecticut. Based in West Hartford, the team is led by Gerald Goldberg, Jonathan Yolles, Michael Lepore and Claire McDonald. They spent over 15 years at Wells Fargo and its predecessors. Goldberg will serve as chief executive, Yolles as chief investment officer, and Lepore and McDonald as senior managing directors.

Charlie Buckley is joining Credit Suisse from UBS in September as head of ultra high net worth coverage, part of a new group focused on clients including family offices, company founders and entrepreneurs. Buckley was most recently managing director and head of family office coverage for the Americas at UBS, having worked at the Swiss bank for over 20 years. Before taking that role in 2012, he was global chief operating officer of UBS' investment banking division.

In his new role at Credit Suisse, Buckley will work alongside the firm's industry and product bankers, as well as the UHNW lending team, to provide corporate finance, lending and private investing opportunities. The entire UHNW group will be run by Harold Bogle, chairman of investment banking and capital markets, with Buckley running the UHNW coverage group. The move is part of an initiative announced by Credit Suisse in its 2015 October strategic review, and follows its decision last year to exit the US private banking sector through a deal with Wells Fargo.  

Merrill Lynch hired Paul Morris as managing director and private wealth advisor in its private banking and investments group (PBIG) office in New York City. He was previously an advisor at Deutsche Bank’s private banking arm. Morris provides high net worth clients with estate planning, investments, insurance and lending advisory services. His clients include entrepreneurs, executives, and family offices.

Fintech firm Active Allocator appointed Brian Jones to the newly-created role of chief financial officer and director. In February this year, he founded Windmill Capital Management, an investment management firm offering high net worth investors opportunities in real assets such as real estate and alternative energy. Previously, Jones was director, CFO and assistant secretary at RCS Capital Corp from 2013 to January 2016.

Bank and broker-dealer HJ Sims appointed Jonathan Jarow as managing director and senior vice president of its office in Boca Raton, Florida. Jarow was previously a member of the executive team at David Lerner Associates. He leads HJ Sims' private client group financial advisory team.

Connecticut-headquartered LLBH Private Wealth Management appointed Jeff Fuhrman, its chief operating officer and chief financial officer, as president, a newly-created role. Fuhrman joined LLBH in 2013 as COO and CFO. As president, he retains responsibility for the human capital, financial management, operations, technology and marketing efforts of the firm while also focusing on LLBH’s growth initiatives.

New Jersey-based Peapack-Gladstone Bank, which provides private banking services, hired Wilson Tam as senior vice president, head of multi-family underwriting. He previously worked at Capital One as senior director, commercial business risk office; senior vice president, special assets officer; and senior vice president, senior underwriter/team leader, middle market lending and marine finance.

Philadelphia-headquartered Hirtle Callaghan, an outsourced chief investment officer firm, appointed Ranji Nagaswami as its new chief executive, replacing co-founder Jonathan Hirtle, who remains with the firm as executive chairman. Nagaswami has spent most of her almost 30-year career as a senior executive, advisor and strategist in both private and public sectors.

Bay Trust Company, based in Kilmarnock, Virginia, welcomed Elizabeth Crowther to its board of directors. Crowther was already a member of the board of Bay Trust's holding company, Bay Banks of Virginia. She has also been president of Rappahannock Community College since 2004.

Toronto-headquartered Manulife appointed Gretchen Garrigues as executive vice president and global chief marketing officer, a newly-created role. Garrigues was previously global chief marketing officer at First Data where she led marketing efforts to deliver on the firm’s initial public offering last year.

PURE Insurance, the high net worth insurer, made four senior hires: Natali Mohanty, senior vice president of data and analytics; Scott Spencer, senior vice president of risk management; Jennifer Spindler, senior vice president of underwriting operations; and Michael Taylor, senior vice president and deputy chief claims officer. Mohanty was most recently Chubb's vice president of enterprise analytics, while Spencer was global head of risk management at Chubb Personal Insurance. Spindler, was previously vice president of strategic underwriting at ACE Private Risk Services, and Taylor joined from AIG, where he was chief claims officer for the private client group and global claims officer for accident and health.

Light Street Capital Management, based in Palo Alto, California, appointed Bill Nolan as of head of business development. Nolan was previously head of marketing and investor relations at Passport Capital from 2008 to 2015, and before that, he spent eight years with Crosslink Capital. He is responsible for developing and expanding Light Street's business presence and relationships with investors.

Illinois-based Trust Company hired Greg Aagaard as market development officer to further its reach to the greater Chicago area and beyond. Aagaard most recently worked at financial products start-up Elkhorn Investments since 2013. In his new role, he focuses on younger investors while also helping individuals and families through life’s transitions. He is also responsible for targeting small and mid-sized business communities.