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Executive Moves January 2009
Rachel Walsh
2 February 2009
Deutsche Bank-owned Tilney Private Wealth Management appointed Kypros Charalambous as investment director for its
Legal & General, the
London-based fund management firm Threadneedle expanded its fixed income arm with the appointment of an asset backed securities team. The new additions to Threadneedle were Andrew Bristow, a former Goldman Sachs banker, along with a five-strong specialist ABS team from Australian investment bank Babcock & Brown. Coutts & Co, the
Mr Scott joined from Standard Life where for over ten years he had played a key role in the company’s increasingly important presence in the high net worth market. Japanese and Asian equities specialist Tokio Marine Asset Management appointed Polly Smith as head of sales and marketing for EMEA, senior vice president, business development. International investment management firm Barings appointed Matthew Finch as sales director,
Mr Finch joins Barings’
Scottish investment manager Baillie Gifford & Co added Scott Mackenzie to their sales team as a regional sales manager. Mr Mackenzie’s team covers the Essex,
Brewin Dolphin, the
Graeme Milne , Stephen Cartwright , John Lynch , Tony Thomas , Gary Fawcett , Fiona McClelland, and Campbell MacLachlan was promoted to the rank of divisional director. International asset manager Gartmore is to make Paul Graham head of Global Alternatives from April. Mr Graham joins the firm from Baring Asset Management, where he is head of alternative sales, business development and client services. He will join Gartmore’s
Coutts, the private banking arm of the Royal Bank of
In his new role Mr White, who formerly held the position of senior private banker, remains at Coutts’ office at
Kul Singh is the new head of Global Wealth Solutions for HSBC Private Bank in the
Withers, the international law group, made Ziva Robertson a partner in its Contentious Trusts and Succession Group. Accountancy and financial advisory group Smith & Williamson hired Tracey Townsend as an investment manager in its
Ms Townsend joined from Barclays Wealth, where she was in charge of the execution-only team. Vestra Wealth, the London-based wealth management firm that was set up last summer and dramatically hired a large team of UBS staff. The board includes Prince Rupert Loewenstein, the former financial advisor to the Rolling Stones rock group and Derek Scott, a former economic advisor to ex-UK prime minister Tony Blair. Allenbridge, the UK-based investment consultancy firm, appointed Conrad Montford, a former director and senior private banker at Citi, to its family office and wealth management division. London-based fund management firm Threadneedle appointed Ann Steele to the institutional arm of its European Equity team. Ms Steele joined Threadneedle from Pictet, where she was head of European Equity working across all European markets including the emerging regions, Eastern Europe and
Yorkshire firm Fox Hayes went into administration a month after its commercial and private client teams left for Lupton Fawcett. It is believed that job losses amounted to around 115, but most were not lawyers. Michael Fordham, former director and co-founder of the Ascentric wrap platform, joined Dorset-based inheritance tax specialist and fund manager The Way Group as managing director, business development. Sir Philip Hampton, chairman of
BNY Mellon Asset Management, part of Bank of New York Mellon, made Paul Faragher regional sales manager for its
In this newly created role, Mr Faragher is based in
In addition to his new role, Mr Sackfield continues as managing director of Brown Shipley’s collective funds subsidiary, KBL Investment Funds .
UK-based Insight Investment Management, part of the HBOS Group, named Michael Pinggera as the new head of its multi-asset group, the team which runs the firm’s diversified range of funds. Having taken up leadership of the group last week, Mr Pinggera now oversees the management, investment selection and portfolio construction of Insight’s multi-asset range of fund Taylor Young Investment Management is making Christopher Buxton the new manager of its £16.6 million CF Taylor Young Growth and Income fund, effective immediately. Hedge fund manager Polar Capital is to a reluctant goodbye to Julian Barnett, who managed about one third of the company's assets through the Polar Capital Paragon Fund. The fund management firm was reported as saying that Mr Barnett decided to leave for personal reasons and will continue to manage the fund until it was wound down and assets returned to investors. Towry Law, a UK-wide group of financial advisors, promoted Bryan Innes to the role of senior client partner. Mr Innes, based in
London-based boutique Insynergy Investment Management appointed David Orr as marketing and product director. Mr Orr joined Insynergy from Fidelity International where he was most recently product director for Asia Pacific equities. London-listed asset manager Liontrust confirmed the resignation of star fund managers Jeremy Lang and Mark Pattison, an unexpected development which prompted several independent financial advisors to pull their recommendation of the firm’s funds. PricewaterhouseCoopers appointed Garry Bell as a director in its
Based in the Jersey office, Mr Bell took on responsibility for providing tax services to a range of corporate clients and private individuals across both Jersey and
The asset management division of Close Brothers made two hires from UBS Weath Management to its
Robert Imbert joins Close Brothers Asset Management as director of intermediary sales, while David Muncaster was appointed director of intermediary relationship management. Investment manager Fidelity confirmed that its managing director in the
UK investment platform Cofunds appointed Brett Williams, former head of Skandia UK, as its new chief executive. Mr Williams takes over from Charlie Eppinger, who is now a non-executive director. Mr Williams was previously chief executive of Selestia and Skandia Multi Funds following Old Mutual’s acquisition of Skandia in 2005. Leading
Investec Trust, part of the South African and UK-based Investec Group, named Luis Gonzalez as a new director. Mr Gonzalez is a former managing director of Rothschild Trust. London-headquartered Ingenious Asset Management hired Philip Todd and James Oldham as investment directors. London-based boutique firm Insynergy Investment Management appointed Matthew Deeprose as business development director. Lloyds Banking Group, formed out of the recently-agreed merger between
Regional law firm Freeth Cartwright started redundancy consultations potentially affecting up to 15 fee earners and 45 support staff, according to Legal Week. RBC Wealth Management, the wealth management arm of Royal Bank of
Architas, the
In the newly created role, Mr Hardie is responsible for the fund manager’s strategy and profitability, along with the development of the AXA Life core unit linked fund range. Specialist wealth management headhunter Gibson Tullberg hired Simon Worthington to reinforce its London-based practice. He joined from Whitehead Mann where he was a junior partner.
SG Private Banking, the wealth management arm of Société Générale, appointed Guillaume Lejoindre managing director for its Swiss operations. Mr Lejoindre succeeded Bernard Sonntag, who is leaving the firm to pursue other interests, and will report directly to Daniel Truchi, global head of SG Private Banking. The international private wealth management recruitment consultancy AP Executive, part of the AP group, added a new recruiter to its
Pierre-Henry Théus, a Genevois, been appointed as senior consultant. International wealth management firm Stanford Group added David Singh to its advisor team in
Frank Keller was appointed head of finance at
Insurance group Swiss Life named three new members of its executive board in
First among the appointees was Thomas Bahc, who was named head of private clients in
Hans-Jakob Stahel and Leo Huwyler were appointed head of corporate clients and head of sales channel management respectively. Investment management firm GAM, which is owned by Swiss bank Julius Baer, made James Lindsay-Fynn a portfolio manager within its managed portfolios service. Prior to joining GAM on 6 January, Mr Lindsay-Fynn worked at Bank of America as vice president of credit and derivative sales, covering
Rothschild Private Banking and Trust appointed Gàbor Vass as a private banker at its
Mr Vass joins Rothschild from Coutts’
Swiss based private banking group EFG International said it is set to take on at least 150 client officers this year, despite the financial crisis. The Zurich-headquartered bank’s 2007 hiring targets remain relatively unaffected by tumultuous economic conditions. Swiss private bank Sarasin appointed the former chief executive of AIG Private Bank in Zurich to head up a newly-created trading and family offices division which was launched at the start of this year. Peter Wild joined Sarasin at the start of January.
As the acquisition of US bank Wachovia by Wells Fargo got formal shareholder approval, Wells Fargo named Shelley Freeman, previously regional president for Los Angeles County community banking, as the head of community banking operations in Florida. BryanMark, a
The investor who helped US hedge fund manager John Paulson to make $15 billion from accurately predicting the meltdown in the US sub-prime mortgage market left Paulson & Co, the hedge fund firm, to set up his own fund. A record eight new partners were made at offshore law firm Harney Westwood & Riegels. They are Tanya Cassie, Jacqueline Daley-Aspinall, Rachel Graham,
Bob McCann, the head of brokerage at Merrill Lynch, announced his plans to leave the firm just days after Bank of America completed its takeover of Merrill. John Thain, the former Merrill chief executive who is now president of the Bank of America's global banking, securities and wealth management business, announced Mr McCann's plans to staff in a memo obtained by WealthBriefing. Dan Sontag, a 30-year veteran of Merrill Lynch, heads the brokerage’s asset management business that was acquired recently by Bank of America. Mr Sontag had been deputy to Robert McCann, vice chairman and president of global wealth management, who left Merrill Lynch. The departure of Robert McCann, vice chairman and president of global wealth management at Merrill Lynch, spelt the end of the old guard at the brokerage firm, industry participants agreed. Fidelity Investments named Ed Orazem, former managing director of Global Wealth Management for Citigroup, as president of Fidelity Family Office Services. Peter Cieszko, former president and chief executive officer of Evergreen Investments, is president of Fidelity Investments Institutional Services.
US-based Pioneer Investments appointed Bill Taylor as the new head of its relationship and strategic investment division. Mr Taylor, who is based in
Credential Financial, the Canadian wealth management distribution company, named Doce Tomic as president and chief executive officer. Mr Tomic, who took up leadership at the start of January, was most recently president of Ticoon Technology, a privately-held Canadian technology firm in
Chicago-based Perkins Investment Management made Peter Thompson its new chief executive. In his new role, Mr Thompson is responsible for the daily management of the business. Jeff Kautz, who had previously been serving as interim chief executive, continues to serve as chief investment officer and co-portfolio manager of Perkins Mid Cap Value Fund and Janus Adviser Perkins Mid Cap Value. Deutsche Bank made Chip Packard its head of private bank activities in
Mr Packard will report to Tom Bowers, head of the
US bank Wells Fargo refused to take back 175 employees who were once with the bank but defected to US rival Wachovia before being acquired in a deal that was formalized this month. There were 2,000 employees in total who left San Francisco-based Wells Fargo to join Wachovia before the acquisition of the latter bank was announced, according to Wells spokeswoman Kathleen Golden. Vista, a US wealth management firm based in the West Coast, hired Joe Delaney, principal of Equius Partners, a registered investment advisory firm in Novato, California. Third-party accounting and administration firm Mourant International Finance Administration named John Wiencek as managing director of its
Morgan Stanley lost one of its top earning US-based brokers to UBS, according to Investment News. Michael Giacone, who reportedly advises Morgan Stanley co-president James Gorman on his personal investments, joined UBS AG in its
Raymond James, one of the largest independent brokerage firms in the
Citi appointed its lead director and chair of the nomination and governance committee, Richard Parsons, to succeed Sir Win Bischoff as chairman from 23 February 2009. Sir Win, who had been with Citi since 2000, will retire from Citi later this year. UBS is continuing its
Jason Devening, William Diehl, Russell Crow, Greg Peroni and Kerry Wildenthal Fagelman joined from Goldman Sachs, where they oversaw combined client assets of $4 billion and generated $30 million in fees and commissions, the publication said. The team, which started at UBS on 16 January, is based in
UBS also recruited an 11-person team from Morgan Stanley to join its
Jeffrey Anthony was appointed chief executive of Heritage Capital Management, which is a wholly-owned subsidiary of US-based Wainwright Bank. Previously, Mr Anthony served as a general partner and managing director of Haldor Investment Advisors and as a vice-president and
Bank of America confirmed the resignation of former Merrill Lynch chief executive John Thain, who was appointed as head of global banking and global wealth and investment management for the combined company just three months ago. The company named long-time BoA executive Brian Moynihan to replace Mr Thain. RBC Wealth Management, part of Royal Bank of
In
In addition, financial consultants Bill Hedges and Lance Newlin, along with investment associate Shelley Johnson joined RBC Wealth Management in
US banking group Northern Trust appointed Robert Browne as the successor of chief investment officer Orie Dudley, who retired after having led the investment team for over eight years. In his new role Mr Browne is based at Northern Trust’s
Atlanta-based SunTrust Bank named Laura Kaplan as managing director and head of its Private Wealth Management Legal Specialty Group. In this role she will assume responsibility for overseeing the strategic direction and operations of the group dedicated to serving the specific financial needs of attorneys and law firms. New Jersey-based Kerwin Wealth Management, a subsidiary of Wachovia, made former professional baseball star Patrick Boran a financial advisor. Deutsche Bank upgraded its ability to deliver foreign exchange services in Cayman with the appointment of Paul Tanguy, who will head up a new Cayman-based FX business.
In changes to the senior management team of JP Morgan Asset Management India, Krishnamurthy Vijayan, formerly chief executive and whole-time director, was promoted to executive chairman, while Christopher Spelman was appointed head of the asset management business. Deutsche Bank made Ajay Bagga, the former chief executive of Lotus India Asset Management, head of its private wealth management arm in
Barclays Wealth, the
Ms Chu, who has more than 20 years of experience in the
Merrill Lynch’s head of Asia Pacific Advisory departed the firm in order to start up his own business. Rahul Malhotra was based in
UBS named veteran Japanese banker Toshiharu Kojima to a new role of country manager in
Merrill Lynch, now part of Bank of America, cut 40 jobs in the wealth management division of DSP Merrill Lynch
The affected division is called the Global Private Client. MLC, the wealth management division of National Australia Bank, cut 120 jobs from its
The move followed the decision by ANZ and Macquarie Bank to each cut hundreds of jobs in December. Analysts expect as many as 10,000 big bank jobs to go in the next year or so.
Northern Trust appointed Chris Blakey as head of product management fund administration for the EMEA region. In this newly created role based in
Swiss-based Pioneer Investments made Reinhard Müller the head of its Swiss operation. In his new role, he is developing the position of Pioneer Investments’ wholesale, institutional and retail businesses in
Dutch bank ING’s chief executive Michel Tilmant is resigned as a result of exhaustion. He will be replaced by the former Philips’ chair and head of the bank supervisory board Jan Hommen in April. Executive board member Eric Boyer took over for the interim. In a separate move, ING is to cut 7,000 jobs after posting a fourth-quarter loss of €3.3 billion . Stenham, the alternative wealth management group, is making Damian Cocking its new senior relationship manager for the Channel Islands and Isle of Man and Marco Gebhard the senior relationship manager for
Deutsche Bank named Igor Soglayev as the new head of its Private Wealth Management in
The Brussels-based KBC banking and insurance group’s chief financial and risk officer and executive committee member Herman Agneessens will be retiring with effect from the annual general meeting of 30 April 2009. At that time, he will have spent 37 years with KBC, thirteen of them as a member of the executive committee. UK-based alternative asset manager Foresight appointed Giovanni Terranova as an investment director in its
International Revere Capital Advisors, the
Global investment company Russell Investments appointed Andrew Doman as new chief executive. Mr Doman, who takes up leadership on 2 February, succeeds John Schlifske who was named president and CEO in June 2008. Generali International, the offshore financial services unit of the Italian insurer, made a number of senior appointments. Debbie Le Noury, previously chief financial officer for the Generali Worldwide Group, succeeded Peter Hobbs as head of Generali International. She worked with Generali in
David Gasparro, head of distribution for international asset manager Threadneedle, left the company. The decision was reached “by mutual agreement”, according to a statement. Standard Bank of
RBC Direct Investing, part of Royal Bank of
Collins Stewart Wealth Management appointed Richard Stanley as an investment director in its
Mr Stanley joined the firm from Singer & Friedlander Investment Management, where he had been managing director since 2002 The Chartered Financial Analyst Institute named John Rogers as the global association’s new president and chief executive. His term of office began immediately, succeeding Jeff Diermeier, who had been in post since January 2005. South African-based Standard Bank Offshore appointed David Wilkinson as its director of intermediary distribution, working from the Isle of Man. Mr Wilkinson has extensive offshore financial services experience, most recently with Royal Bank of Scotland International as head of sales for the investment.