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Weekly Summary Of Moves
Eliane Chavagnon
14 September 2015
Bessemer Trust, the multi-family office, appointed Arturo Pedroso as a vice president and wealth advisor in Miami, FL. Pedroso – who was previously an associate wealth advisor at the firm – will report to Michael Marquez, managing director and Florida region head. Prior to joining Bessemer in 2013, Pedroso was a private banker at JP Morgan, serving ultra high net worth families. David Steele and Jonathan Steele created One Wealth Advisors, an independent financial advisory firm in San Francisco, CA, through Dynasty Financial Partners. David and Jonathan Steele previously ran a financial planning practice at JP Morgan Securities. Also with them at One Wealth Advisors are Alexander Schmitz, director of financial planning; Kevin Cohen, director of operations; and Samuel Stephens, senior client service associate – all from JP Morgan too. In addition to being CEO of One Wealth Advisors, David Steele is an entrepreneur in numerous businesses in lifestyle, health and wellness, and arts and entertainment in San Francisco. One Wealth Advisors works with high net worth clients including corporate executives, retirees, small business owners and foundations. Northern Trust hired David Heidel as a senior vice president and investment practice leader in Minnesota, MN. Heidel will provide discretionary and advisory investment management services to fiduciary and personal investment clients. Previously, he was a director for the central region of US Bank's high net worth arm, The Private Client Reserve. Earlier, he was a senior portfolio manager at the PCR; a senior financial advisor at M&I Private Bank; and an investment advisor at JP Morgan Private Wealth Management. Fiduciary Trust Company, a wealth advisor and investment management firm for high net worth families and charitable organizations, hired Todd Eckler as chief marketing officer – a new role at the firm. Eckler is tasked with enhancing Fiduciary Trust's client experience, as well as raising brand awareness and leading other strategic initiatives. He will report to Austin Shapard, chief executive. Before joining Fiduciary Trust, Eckler was a senior vice president at Bank of America, focused on Merrill Lynch and US Trust, and before that worked at Fidelity Investments and Monitor Group, which is now part of Deloitte. Mirae Asset Global Investments , part of one of Asia’s largest financial groups, hired four analysts to boost its global equity team in the US. The analysts are based in New York and report to Jose Gerardo Morales, chief investment officer. They are responsible for providing research and analysis in support of Mirae Asset USA's mutual funds and international sub-advisory portfolios. The additions took the total number of equity investment professionals with Mirae Asset USA to eight. The new arrivals were: Tatiana Feldman, SungWon Song, Malcom Dorson and Michael Dolacky. Feldman is a senior investment analyst focusing on global emerging markets ex-Asia. Prior to joining Mirae Asset USA, Feldman served as an investment analyst with INCA Investments, an equity research analyst at Brasil Plural and a senior analyst at Morgan Stanley covering Latin America. Dr Song is an investment analyst focusing on the global healthcare sector. Previously, Dr Song worked at Nationwide Children's Hospital, where he served as a postdoctoral research fellow, and The Ohio State University, where he worked as a graduate research associate. Dr Song holds a PhD in Molecular Cellular Developmental Biology from The Ohio State University. Dorson is an investment analyst focusing on global emerging markets ex-Asia. Previously, Dorson worked as an investment analyst at Ashmore Group covering Latin America and at Citigroup as an assistant vice president focusing on asset management for ultra-high net worth clients. Dolacky is an investment analyst focusing on the global healthcare sector. Dolacky previously was an investment analyst with Senzar Asset Management and a fixed income analyst at Nomura Securities. Lenox Advisors hired Anthony Cruz as a vice president and asset manager within its private wealth management team in Chicago, IL. Cruz joined Lenox from William Blair & Company, where he most recently served as managing director and group head of the convertible bonds debt capital markets department. John Bahnken left his post as head of Bank of the West's North American wealth management business to become president of wealth management at Citizens Bank, effective October 5. Bank of the West has been in the limelight lately due to its ultra high net worth drive, for which it brought in Steve Prostano in June to build out its business for individuals and families in the US with over $25 million in assets. Bahnken is also known for his time spent as president of Bank of America's global wealth and investment management products group, and he has also worked at FleetBoston Financial. He will take over the reins at Citizens Bank from Mike Millard, who is retiring after leading the firm's wealth management business for ten years. He will report to Brad Conner, vice chairman and head of consumer banking. Pitcairn, a Jenkintown, PA-headquartered multi-family office, hired Mark McCarron as a managing director of investment strategy, based in Philadelphia, PA. McCarron will support Pitcairn’s chief investment officer on investment and wealth management-related issues, reporting to Harold Pitcairn, CIO of Pitcairn. He will also be a member of the investment strategy, investment policy, due diligence and operating committees. Before joining Pitcairn, McCarron was a vice president and chief investment strategist at Drexel Morgan Capital Advisers since 2011. Before that, he spent 17 years at SEI Investments, where he became managing director, global head of client investment strategy and managing director, head of London investment team . California-headquartered Halbert Hargrove, the fiduciary investment management and wealth advisory firm, recruited Brian Chang and Julia Pham as relationship managers, based in Long Beach. Chang was previously a portfolio manager at San Ramon-based GPS Capital Management and before that worked at Provident Funding Associates and Wealth Design. Pham was formerly an associate relationship manager at Irvine, CA-based First Foundation Advisors, where she managed more than 150 clients as a wealth manager and financial planner. Before that, she was a portfolio analyst in asset-based lending at Wells Fargo Capital Finance. US Trust, which is part of Bank of America's global wealth and investment management arm, made a raft of hires in six states in the past month. William Walker joined in Palm Beach, FL, as a private client advisor, having previously worked at First Republic Bank as a business development/client manager. Ron McGann joined the Boston, MA, office as a business strategy and initiative executive. He previously worked at Citisoft as a managing consultant/program and senior project manager. James Kemp stepped into the Saint Louis, MO, office as a private client advisor. Kemp previously worked at the John Burroughs School as director of advancement. Kevin Butler joined the Florham Park, NJ, office as a private client advisor from KBCM as a managing director. Meanwhile, in New York Margaret Fitzpatrick was hired as a senior trust officer and Scott Litner as a private client advisor. They joined from Morgan Stanley and Nomura Securities International, respectively. Lastly, Jeffrey Adams joined the Dallas, TX, office as a specialty asset manager. He previously worked at Continental Resources as a completions engineer. KPMG appointed Brian Stephens as national leader for financial services, succeeding Scott Marcello, who was recently named vice chairman for the firm’s US audit practice. KPMG's broad financial services practice includes banking and capital markets, building, construction and real estate, insurance and asset management. The “Big Four” firm said its financial services practice has grown significantly over the past few years, expanding into serving alternative investments and other fast-growing areas. Bank of the West made three senior wealth management hires in Las Vegas, in a move coinciding with the bank's recent expansion of trust powers in Nevada. Rebecca MacDonald was appointed as vice president and market leader; Theresa Le joined as a vice president and senior trust officer; and Maximus Nguyen was named as a wealth financial advisor. MacDonald started her career in Las Vegas as a financial services officer and then as a sales manager. She also has served as a branch manager at Bank of the West. Le most recently led a team of trust administrators at an independent trust company and was in charge of overseeing the operations for transactions of IRA and custodial accounts, new business development and client and professional advisor relationships. Nguyen has eight years of experience advising high net worth clients. BNY Mellon appointed Chris Mone as regional president of its wealth management office in Los Angeles, CA. Mone reports to David Emmes, president of western US markets at BNY Mellon Wealth Management, who noted that Los Angeles is one of the top wealth markets in the US and a strategic priority for BNY Mellon. Mone has over 16 years of financial services experience and has held leadership roles at UBS Wealth Management, Prudential Securities and Edward Jones. During his ten years at UBS, Mone was a regional director in New York and managing director of the UBS Tower in Chicago. His leadership responsibilities in that role included the wealth management, institutional consulting, corporate executive, corporate cash management, middle-market fixed income and equities sales divisions. Deutsche Asset & Wealth Management brought in Pascal Landrove as a managing director and senior relationship manager for Mexico. Based in Geneva, Landrove reports locally to Matthias Musch, head of wealth management for Latin America within Switzerland, and directly to Felipe Godard, head of wealth management for Latin America. Landrove has over 15 years of wealth management experience, joining the bank from Lombard Oddier, where he spent seven years as a managing director and relationship manager, covering Mexico. Before Lombard, Landrove spent over a decade at UBS, where he spent most of his tenure covering Latin America as a relationship manager and desk head for Mexico. A new multi-family office called Omnia Family Wealth launched in Aventura, FL, through Dynasty Financial Partners. Omnia was founded by former Merrill Lynch private wealth advisors Steven and Michael Wagner. The father-son team are joined at Omnia by co-founder and managing director of wealth structure and planning, Ivan Hernandez; director of client services, Diana Torre; and director of operations, Cherie Cohen. All of them have worked together for years at Merrill Lynch and UBS. Alli McCartney, Miguel Hennessy, David Wardrop and Jordan Mahaffey joined UBS from JP Morgan, where they had $5 billion in assets under management. They work at at UBS’s New York private wealth management office, reporting to Chris Amo, complex director. The team manages money for ultra high net worth individuals, foundations and endowments. A large majority of their clients are senior executives in the financial services, hedge fund, technology and media industries. Hennessy, a 30-year industry veteran, spent 13 years at Morgan Stanley and then held various roles in private equity before joining JP Morgan in 2007. McCartney has 16 years of industry experience having led the equity and fund derivatives desk for Lehman Brothers and Neuberger Berman before moving to JP Morgan. Mahaffey and Wardrop each started their wealth management careers in Merrill Lynch’s private banking group prior to moving to JP Morgan. Fidelity Investments appointed Michael Durbin as interim chief executive of eMoney Advisor, a wealth planning software company that Fidelity acquired earlier this year. The move followed the decision by eMoney Advisor’s founder, Edmond Walters, to step out of his CEO role and leadership position after 15 years at the firm. It is unclear what his future plans are at this stage. Durbin – who spent six years as president of Fidelity's RIA custody unit – will work with eMoney Advisor's leadership team to continue running it as an independent company, separate from Fidelity. He will also remain as president of Fidelity Wealth Technologies, the organization into which eMoney has been reporting. Before joining Fidelity, Durbin spent 18 years working at Morgan Stanley. Pioneer Investments, part of Italy’s UniCredit, named John Black as senior vice president and institutional business development officer in the US. Based in Boston, MA, Black took on a newly-created role at the firm, he said in a statement yesterday. Previously, Black was SVP of institutional sales at McKenzie Investments Corp in Toronto, Ontario. Prior to that, he was VP of institutional sales at State Street Global Advisors in Boston from 2007 to 2013.