July witnessed no let-up in moves as the summer progressed, with firms such as BNY Mellon, among others, making a number of important regional appointments.
Former HBK Capital Management chairman and managing director Laurence Lebowitz joined The Investment Fund for Foundations as its new president and chief investment officer, succeeding David Salem, the firm's founding president and CIO.
Rockefeller Financial hired Reuben Jeffery, a top US diplomat, to be its new chief executive, taking up the post on 7 September.
UBS Wealth Management Americas made four appointments for its office in Dallas. The new team, which includes Fyi-Trevor Fahr, David Folmnsbee, Andrew Noone and Ryan Anderson, joined from The Ayco Company, which is part of Goldman Sachs.
Butterfield Fulcrum, the Bermuda-based fund administrator, appointed Michael Clark as its new chief executive. Clark joined the firm from Fidelity Investments, where he was most recently president of the institutional products group.
Appleby, the offshore law firm, expanded its Cayman Islands-based funds and investment services team with the appointment of Christian Victory as an associate. Victory was latterly with Appleby’s British Virgin Islands office.
Union Bancaire Privée appointed Larry Morgenthal as chief executive of UBP Asset Management, its US-based fund of funds business, and chief investment officer of alternatives. Morgenthal was formerly CIO and later CEO of Ivy Asset Management.
Bank of America Merrill Lynch appointed David Oman as chief risk officer for EMEA, starting from the beginning of October. He will be based in London and report to Marisa Harney, head of International Risk Strategy Development. Oman joins the firm from UBS, where he most recently served as European chief risk officer and global head of counterparty credit risk.
Société Générale Private Banking strengthened its team dedicated to serving wealthy Latin American clients with the appointment of William Birkbeck as deputy to the global market manager for this client segment, a newly-created role.
Birkbeck, who joined the SocGen group in 1995, moved over from his role as principal director and head of the Americas and Asia group at SocGen Corporate and Investment Banking.
HSBC Private Bank appointed ex-Deutsche Bank wealth management senior executive Mark Pittsey as a managing director and regional manager for the Bay Area and Northwest region of the US.
Silver Bridge, the US wealth advisory firm affiliated with law firm Wilmer Cutler Pickering Hale and Dorr, hired Kevin Fretz as a client advisor in the firm's Mid-Atlantic office. Fretz joined the firm from Wilmington Family Office.
Wilshire Funds Management appointed financial services industry veteran Jamie Ohl as chief operating officer. Ohl was most recently a senior vice president and director for Hartford Financial Services Group's retirement plans unit.
HSBC Finance Corporation appointed Patrick Burke as chief executive officer. Burke replaced Niall Booker, who was named CEO of HSBC North America Holdings. Prior to the appointment Burke served as senior executive vice president and CEO of card and retail services for the company.
Raymond James, the Canadian business of North American investment dealer Raymond James Financial, hired Jacob Leibel as vice president and head of its Private Investment Management Group, the firm's discretionary portfolio management platform. Leibel joined the company from RBC Dominium Securities, where he co-managed the advisory managed discretionary program.
Citi Private Bank hired Martin Rosa as a director and private banker for its Chicago office. Rosa joined the company from HSBC Private Bank, where he was a senior vice president focused on ultra high net worth families.
The wealth management group of Minneapolis-headquartered US Bank appointed Michael Cole, formerly with Wells Fargo, as president of its ultra high net worth business and promoted Michael Boardman to president of its Private Client Reserve group. Prior to the promotion, Boardman was central region president for the Private Client Reserve.
Securities America, the investment advisory firm, named Jim Nagengast as chief executive officer. Nagengast joined the company in 1994 as vice president for finance and then moved on to become chief financial officer in 1997, information services head in 2000 and chief operating officer in 2004. His most recent role was as president, which he assumed in 2008.
Citi Private Bank appointed Gretta Rusanow as a New York-based senior client advisor within its law firm unit. Rusanow was latterly the founder and chief executive of UK-based Curve Consulting.
BNY Mellon appointed Juan Carlos Morales as president of BNY Mellon Mexico and general manager of its corporate trust business in the country. Morales, who joined BNY Mellon in 2004, was most recently the chief financial officer of BNY Mellon Wealth Management.
LifeYield Advisor Solutions Group, part of the Boston, Massachusetts-based technology services group LifeYield, appointed Mike Mason as a vice president with its advisor solutions team. Mason most recently worked at FundQuest, an asset management technology company.
Korn/Ferry International hired Paul Legvold as senior client partner and head of its global asset management practice. Legvold was previously the head of the North American asset management practice at Heidrick & Struggles.
Morgan Stanley Smith Barney appointed Douglas Ketterer as the new head of Morgan Stanley Private Wealth Management and James Tracy as chief operating officer of distribution and development for its US wealth management arm. Ketterer was previously the COO for Morgan Stanley Smith Barney's wealth management division, while Tracy previously headed Smith Barney's consulting group, with a focus on money management services and investment consulting.
RBC Wealth Management hired Kevin Williams – formerly of Morgan Stanley Smith Barney – as senior vice president and branch director for its Richmond, Virginia office.
Citi Private Bank appointed Adam Smith to its Beverly Hills office as senior vice president and ultra high net worth private banker. Prior to joining the bank, Smith built a career in Southern California, working with ultra high net worth clients in the entertainment and sports industries.
Veteran investment professional Bart Zitnitsky joined First Republic Private Wealth Management in Los Angeles, having previously worked as senior vice president and senior portfolio manager at Northern Trust Bank.
Citi Private Bank hired Nancy Pellegrino as managing director and head of the Pacific Northwest. Pellegrino was most recently the regional president and head of the Pacific Northwest region for Bank of New York Mellon Wealth Management.
US Trust, an affiliate of the Global Wealth & Investment Management unit of Bank of America, appointed Rowland Bankes from RW Pressprich as Boston-based head of trading, and Stephen Doty – former national director of the Bank of New York Mellon – as its Northeast division investment executive.
Additionally, Southeast division executive Doug DiVirgilio appointed three senior vice presidents - Lawrence Greenberg, Nancy Golder and Bob Dunkin - as private client advisor, private client manager and private client consultant respectively for the Palm Beach branch. DiVirgilio also appointed Jesse Perrin as senior vice president and market sales director to the Boca Raton branch and Kimberly Bleach as senior vice president and private client manager to the Sarasota branch.
StellarOne Corporation, the US bank, appointed Michael Williams as director of wealth management for StellarOne Bank and, in conjunction, established a wealth management office in Richmond, Virginia.
Baird hired industry veteran William Welsh, formerly of Wells Fargo, to lead its San Francisco wealth management office.
Bank of America Merrill Lynch made Jean-Marie Deluermoz, one of its senior European managers, redundant as a result of a restructuring to its wealth management operations. Deluermoz was hired in 2007 to be director of emerging European markets within the EMEA wealth management team.
Convergent Wealth Advisors named Douglas Wolford as president of the firm. Prior to the appointment, Wolford ran his own management consultant firm, Wolford & Company, in the Washington, DC area, specializing in strategy and operations. Convergent was one of the firm’s clients.
BBVA Compass, the US-based financial services group, appointed John Jett as Austin-based wealth management regional executive for central Texas.
Citi Private Bank named Kurt Muller as director and investment counselor based in Short Hills, New Jersey. Muller was most recently a director at Merrill Lynch & Co's managed solutions group.
American International Group announced that Robert Miller will be taking over as chairman of the board of directors after the departure of Harvey Golub. Miller was a member of the board since 30 June 2009 and is chairman of MidOcean Partners.
GenSpring Family Offices added Seth Tobin as a family investment officer specializing in ultra high net worth clients. Tobin was previously a partner at Lakeview Investment Manager, where he built and maintained a global portfolio of hedge fund managers and was involved in the selection of investment activities.
Sprott, the Canada-based investment firm, hired industry veteran Peter Grosskopf as chief executive and member of its board of directors, effective from 7 September. Grosskopf was recently a president of Cormark Securities.
UBS Wealth Management Americas hired Thomas McLoughlin as head of municipal research, filling a vacant position. Before joining UBS, McLoughlin was chief executive of National Public Finance Guarantee, an indirect subsidiary of insurer MBIA.
BNY Mellon Wealth Management appointed James Fagan as regional sales manager for the New York Tri-State region covering metropolitan markets. Fagan joined the company from Alliance Bernstein, where he was a financial advisor.
Raymond James, the Canadian arm of North American financial services firm Raymond James Financial, appointed Bob Larose to its private client team. Most recently, Larose served as national sales manager at Canaccord Private Client Group.
Los Angeles-headquartered Bank of Manhattan appointed Shannon Millard as executive vice president and chief credit officer. Millard worked most recently as president of the retail banking division of First Federal Bank of California.
Knight Capital Group named Richard Herr as managing director and head of business development. Herr stepped in from Investment Technology Group, where he headed the strategic and business development unit.
Stacy Rush was appointed principal of Pathstone Family Office’s risk management group. Rush joined Pathstone's Atlanta office from Chubb Insurance, where she focused on the firm's Signature and VIP clients, developed new product education programs and managed agency relationships and business planning for independent agents and brokers.
JP Morgan appointed former senator and HUD Secretary Mel Martinez, to the post of chairman of Florida, Mexico, Central America and the Caribbean. Under the presidency of George W Bush, Martinez served as US Secretary of Housing and Urban Development for a period.
Florida-based JHS Capital Advisors said that Bruce Snell has joined its wealth management division as managing director, and will be given the job of hiring some of the thousands of advisors in the South Carolina region. Snell most recently worked at Carolina First Bank as director of brokerage, supervising a team of 26 advisors with more than $900 of assets under management.
Southwest Securities, part of US financial group SWS, reorganized its Pacific coast private client offices into three regions and promoted three investment executives to regional director positions.
David Frieden was promoted to executive vice president and regional director, Central Region, which includes the Beverly Hills and Las Vegas offices. Kevin Kott was promoted to executive vice president and regional director, Northern Region, which includes the San Francisco, Sacramento and Monterey offices. Michael Urman was promoted to executive vice president and regional director, Southern Region, which includes the San Diego and Rancho Bernardo offices.
JP Morgan Asset Management appointed George Gatch as chief executive of its investment management Americas unit. Gatch is the president and chief executive officer of JP Morgan Funds.
Oppenheimer & Co bolstered its Chicago brokerage business with the appointment of ex-UBS employee Douglas Damrow as assistant manager of its wealth management office.
Legg Mason chief financial officer CJ Daley left the company to take a new senior role at an unnamed private asset manager. The global asset management firm appointed Terrence Murphy, the chief operating officer of ClearBridge Advisors, to assume the post in the interim.
Fieldpoint Private Bank & Trust announced that Robert S Matthews is its new president and chief executive officer following a six-month deliberation process. Matthews, who previously oversaw Citigroup's Global Wealth Advisory Services unit, assumed his new role on 30 June. He took over from Kevin McCabe.
Samoset Capital Group appointed John Straus as the new head of its wealth management arm. Straus joined the company from UBS Wealth Management Americas, where he was head of the high net worth business.
H&R Block, the international tax service provider, named Alan Bennett as its new president and chief executive officer. Bennett took over from Russ Smyth, who resigned to accept a CEO position at a Chicago-based private firm. He joined H&R in 2007 and served as interim CEO from November 2007 to August 2008. After that he was elected to the board, where he served on both the audit and finance committees.
UBS Wealth Management Americas hired two advisors: David Winchell joined the company's Las Vegas branch from Merrill Lynch/Bank of America and Marvin Griffin joined UBS's Sugar Land, Texas office from Morgan Stanley Smith Barney. Winchell and Griffin previously oversaw $119 million and $102 million of client assets, respectively, as well as generated $1.2 million and $1 million in annual fees and commissions.
JP Morgan recruited Carlos Batlle as its head of wealth advisory for its Florida region, based in Miami. Before joining JP Morgan, Batlle was a partner with Squire Sanders and Dempsey, with a discrete focus on trust and estate planning in the US and abroad.
First Michigan Bank appointed Thomas FitzGibbon to the newly-created position of managing director, integration specialist with immediate effect. FitzGibbon was formerly the executive vice president of Chicago-based MB Financial Bank and was most recently a principal at BSI, a consulting firm that deals with charitable foundations and public entities.
Financial Information Network, the financial technology provider, appointed Omar Ebrahim as sales associate. Ebrahim previously worked as a relationship manager and financial services associate at Bear Stearns and Prudential, respectively.
BNY Mellon Asset Servicing formed a new entity that supports client needs in the banking, mutual fund and insurance sectors. Global Financial Institutions, the new arm, is led by Nadine Chakar, formerly the head of Europe, Middle East and Africa Asset Servicing. Steve Wynne, the former chief executive of PNC Global Investment Servicing, assumed the role of CEO of US Funds Services, while Nancy Wolcott, previously the president of PNC, heads US Funds Services. The other executive positions were assumed by Lou Maiuri as head of US Financial Institutions and Frank Froud as head of EMEA Asset Servicing.
American Portfolios, the New York-headquartered independent broker-dealer, named Joseph Gruber as president of national sales and marketing and also appointed him to the firm’s executive committee. Gruber was formerly president of FSC Securities and Advantage Capital (now known as Advisor Group).
Perella Weinberg Partners, the US financial services firm that provides corporate advisory and asset management services, hired Jeffrey Silverman as its new partner. Silverman was most recently a partner and director of investments at Tudor Investment Corp, where he was responsible for recruiting new portfolio manager groups and external investments.
Dallas investment management firm Highland Capital Management appointed Steven Delarosa as managing director. Delarosa joined the company from Western Asset Management Company.
Al Frank Asset Management, the independent asset advisor and boutique money manager, named Jeff Montgomery as chairman of the board. Montgomery was chief executive officer for the company from 2008. Prior to that, he served as CEO of Washington Square Securities, now ING Advisors, and CEO of NFP Securities. He replaced Joe Lahti, who remains a board member.
JP Morgan appointed Barry Sommers to lead an effort to boost the share of assets it holds for its mass affluent clients to more than five per cent via its Chase brand. Sommers, chief executive officer of JP Morgan Securities, became chief executive of retail affluent and investment services.
Citi Private Bank hired Mary Agnes Pan as a New York-based managing director and private banker for its ultra high net worth clients. Pan joined from HSBC where she was a managing director and senior private banker.
Capital Advisory Group bolstered its high net worth offering with the hire of Matthew Buckley as managing director, private client services. Most recently Buckley was the senior vice president at SunTrust Private Wealth Management.
The Hartford Financial Services Group named David Levenson as president of wealth management, succeeding John Walters. Levenson joined Hartford in 1995 from Fidelity Investments. He led the development of its mutual funds operations and also ran the retirement plans business before heading the retail products business.