Print this article
Summary Of Executive Moves In North America Wealth Management - October 2017
Editorial Staff
8 December 2017
RBC Wealth Management hired the Dominello Investment Group to become part of its newly-opened Farmington, Connecticut office. The Dominello Investment Group is comprised of George Dominello, senior vice president and financial advisor, and his son William Dominello, senior vice president and financial advisor. Another joiner was Vanessa Mason, senior registered client associate.
RBC Wealth Management US appointed Nate Angelo as head of wealth management consulting. In this role, Angelo leads a team focused on working with financial advisors and branch leaders to improve relationships with RBC Wealth Management's clients. Angelo spent 11 years with Russell Investments in Seattle.
RBC Wealth Management US appointed Michael Parker as head of advisor recruiting. RBC WM has been recruiting heavily across the US, and this is the latest of several managerial appointments over the last few weeks. Parker served as executive vice president and chief development officer at Hightower Advisors. In this role, he was responsible for driving revenue growth for the organization and was the architect of a management platform.
KPMG appointed James Liddy as chairman of KPMG's global financial services practice. Liddy has more than 35 years serving KPMG's global clients and has held various leadership positions within the firm. Most recently, he was Americas leader for global financial services and also served as a member of the global financial services leadership team. Liddy succeeded Jeremy Anderson, who led the practice since 2010. Liddy also serves as the US financial services line of business leader.
The Securities and Exchange Commission named Peter Driscoll director of its compliance inspections and examinations office. The office Driscoll leads is responsible for directing the SEC's National Examination Program, whose staff carry out examinations of registered investment advisors and companies, broker-dealers, self-regulatory organizations and transfer agents, among others. Driscoll had served as acting director of the SEC's compliance inspections and examinations office since January 2017.
Steward Partners Global Advisory - associated with Raymond James - brought in Morgan Stanley managers Timothy Davis, managing director and wealth manager, and Michaelyn Bortolotti, vice president and wealth manager, to its team in Boston. Davis led the firm called The Davis Executive Wealth Management Group. The Davis Executive Wealth Management Group specializes in assisting publicly traded corporations and their executive employees. At Morgan Stanley, the duo had managed around $200 million in client assets. Additionally, Michael Carilli, VP and senior registered client administrative manager, has joined from Fidelity. Year to date, Steward Partners has added more than $2.5 billion in recruited assets under management and 25 new wealth managers.
Citi Private Bank appointed Chris Klecka as a ultra-high net worth private banker. In this role, Klecka provides investment strategies for the firm’s Southwestern-based clients. He is based in Phoenix and reports to Kush Malhotra, regional market manager for Western Region – South. Prior to this role, Klecka served as a chief financial officer for a family office. He was previously was a private banker for Citi and US Trust.
Oppenheimer & Co, a wealth manager and investment bank hired three senior additions to its debt capital markets business. The new hires are responsible for origination and structuring of new issue debt instruments. Kimberly Boulmetis has more than 20 years of experience; she joined from Incapital and Bernstein Global Wealth Management in the areas of investment management for high-net-worth individuals, families, foundations and endowments, and small to medium-sized businesses. Robert Fischer also joined from Incapital, where he served as head of origination. Fischer was previously a senior member of Bear Stearn's DCM and Global Liability Management Group. Sanjeev Khurana has more than 20 years of experience in private capital raising, institutional sales, origination and structuring. The new hires report to John Tonelli, head of DCM and syndication, and work under the direction of Peter Albano, global head of taxable fixed income.
Vannin Capital, a global dispute resolution funding business, appointed David Collins as group chief financial office. Collins joined from Prudential, where he held a number of senior roles across finance, risk and group strategy including managing director of the group chief executive’s office and director of investor relations.
BNY Mellon Wealth Management appointed Sean Rourke as senior wealth director in Los Angeles, California. Rourke reports to Christopher Mone, president of the greater Los Angeles region. Prior to joining BNY Mellon Wealth Management, Rourke was a senior private client advisor with City National Bank for more than eleven years.
Wells Fargo Asset Management appointed Dan Morris as global head of portfolio solutions within the multi-asset solutions team. Morris reports to Nicolaas Marais, president of WFAM and head of multi-asset solutions, and will focus on designing solutions for clients that seek retirement income strategies, wealth preservation, and downside risk protection. Based in London, Morris previously worked at Schroders, where he was head of US portfolio solutions. Martijn De Vree and Frank Cooke joined the team; they report to Morris. De Vree joined from Insight Investment, where he was a senior solutions expert, and Cooke joined from Mercer in Hong Kong, where he served as a senior investment consultant.
Mercury Capital Advisors, the global placement agent specializing in private investments, opened a Seattle, Washington office. It is led by Brian Hanson, executive director, iFunds Distribution, who reports to Donal Mastrangelo, executive director and head of US iFunds Distribution.
Before Hanson joined Mercury was director of business development at Silver Creek Capital Management, an organization with $7 billion of assets under management, focused on the alternative assets space. Previously, Hanson spent nine years at Quellos Group, an alternative fund of funds manager , on both the wealth and investment management sides of the business.
Signature Estate and Investment Advisors, the California-headquartered firm, promoted senior associate Kathleen Adams to partner. Adams specializes in financial planning for business owners and for the dentistry community. She offers financial planning, investment consulting, and retirement plan consulting. Adams has been an advisor at SEIA for five years, and previously served as an advisor with Waddell & Reed for over a decade.
Merrill Lynch appointed Jen Auerbach-Rodriguez as head of strategic growth markets, a newly-formed role. Auerbach-Rodriguez reports to Kirstin Hill, head of Merrill Lynch Wealth Management strategic performance. In this role, she focuses capturing market share and driving growth within the firm's traditionally underserved client segments, such as women, African-American, Hispanic, LGBT. She joined Merrill Lynch as a member of the listed options and futures strategy desk.
Signature Bank, a New York-based firm, appointed a new private client banking team. The team worked together at various financial institutions over the past decade. Indira Thomas-Maharaj, group director and senior vice president heads up a new five-person team based at the bank’s Midtown Manhattan private client banking office, located at 261 Madison Avenue. Maharaj has 17 years of experience within the banking sector. She recently served as senior vice president and director of middle market and business banking at Popular Community Bank in Manhattan. Joining Maharaj, in the role of vice president and associate group director were Gregory D’Orazio, Dustin Gash and Shiraz Kenny Mohammed. Also joining the firm is Andrea Smith, who was named senior client associate-officer.
BNY Mellon Wealth Management appointed Keith Franks as senior wealth manager in Winter Park, Florida. Franks reports to senior wealth manager and team leader, Sean Maguire, and is responsible for providing wealth and investment planning services for the firm’s clients in the Winter Park area.
Prior to joining BNY Mellon Wealth Management, Franks was vice president and family investment officer at GenSpring Family Offices for nine years.
Wilmington Trust promoted Patricia Farrell to group vice president and managing director of wealth advisory services for the Buffalo and Rochester markets. In her expanded role, Farrell is responsible for driving the expansion of wealth management services throughout Western New York. Farrell joined Wilmington Trust, part of the M&T Bank family, in 2014 as market leader for wealth advisory in the Buffalo area. She has more than 20 years of experience serving high net worth clients in the Buffalo, Rochester, and New York City markets. Previously, she was a senior vice president and private client advisor at US Trust in Manhattan, where she was also private banking team leader.
Atlantic Capital Bank, which has a private banking segment, appointed chief executive Douglas Williams as president of Atlantic Capital and Atlantic Capital Bank. Williams continues to serve as CEO. He took over from Michael Kramer, who resigned as president and chief operating officer of Atlantic Capital and Atlantic Capital Bank. Kramer also resigned from the board of directors of Atlantic Capital. In connection with Kramer’s resignation, the board of directors reduced the size of the board from 11 to 10, effective October 31.
Also, Richard Oglesby, current chief credit and risk management officer, became general banking division executive with responsibility for Atlanta corporate and private banking, Tennessee-Northwest Georgia community banking, commercial real estate finance, non-profit and small business banking, and regional corporate banking. Joe DiNicolantonio continues to lead Atlantic Capital’s commercial, retail, mortgage, and private client businesses in the Tennessee-Northwest Georgia market and assumed responsibility for strategic leadership in the development of small businesses and consumer banking initiatives throughout the company.
Centana Growth Partners, a growth equity firm focused on the future of financial services, appointed Tom Davis as principal and Matthew Alfieri as vice president of its investment team. Prior to joining Centana, Davis spent nine years at General Atlantic where he focused on investments in the financial services sector. Alfieri joined from Goldman Sachs where he spent nine years, most recently as a vice president with the Principal Strategic investments team, where he invested in financial technology and enterprise technology companies.
Northern Trust appointed current president Michael O'Grady as chief executive. Chairman and previous CEO Frederick Waddell retired from that role, but remains as chairman, a role held since November 2009.
As president of Northern Trust Corporation, a role he has held since January 1, 2017, O’Grady oversees the wealth management, corporate & institutional services and asset management businesses. Before joining Northern Trust in 2011, O’Grady served as a managing director in the financial institutions investment banking group at Bank of America Merrill Lynch.
PlainsCapital Bank hired two Houston-area wealth management figures for its private banking initiative in the greater Houston and Coastal Bend areas. The hires were Steve Schaller, CFA, and Jeff Horner, CFP, who joined as private bankers serving high net worth individual clients and family offices. Schaller has been named executive vice president and market manager, and Horner has been named senior vice president and wealth strategist. They report to Thomas Neville, executive vice president and head of private banking and wealth management for PlainsCapital. They are based in Houston.
Schaller has 30 years of banking experience to his new role, including 16 years of portfolio management and investment experience in client management, asset allocation, investment program implementation and new business acquisition. He earned his Bachelor of Science and MBA degrees from Vanderbilt University. Horner has more than 15 years of experience providing customized wealth planning services to HNW individuals. He earned his Bachelor of Business Administration degree from Baylor University.
ILPA, an international trade association representing institutional investors in private equity, including family offices and foundations, retained head-hunter firm Arlington Partners International to find a new chief executive to take over from the interim CEO named to the job in July this year. Arlington is being used by the Institutional Limited Partners Association to find a person to fill the chief executive role on a permanent basis. In July, ILPA said Mike Mazzola had taken on the role of interim CEO, following the departure in June of Peter Freire. Mazzola, who had a 25-year career in the private equity industry, was also chairman of the ILPA Board from 2012-2015.
Wells Fargo & Company appointed Mike Roemer as chief compliance officer. Yvette Hollingsworth Clark was Wells Fargo’s chief compliance officer since 2012. In June, she accepted a new role as regulatory innovation officer and Kevin Oden, head of operational risk and compliance, assumed the additional role of Wells Fargo’s chief compliance officer while a search for a permanent replacement was underway. Roemer has been in the financial sector for 27 years, and most recently served as group head of compliance for Barclays.
Roemer is responsible for oversight of all regulatory compliance risks for Wells Fargo. He reports to Mike Loughlin, Wells Fargo’s chief risk officer and head of corporate risk. Roemer joined Barclays in 2012 as head of internal audit. Prior to Barclays, he was chief auditor at the CIT Group, where he reported directly to the board audit committee and had global responsibilities for the internal audit function. In addition, he spent 23 years at JP Morgan Chase and its predecessor organizations in various roles.
Harvest Global Investments US , the Asian and Chinese markets specialist asset manager, appointed Regis Dale as chief executive. It also hired Angela Wang as vice president, business development.
Ryan Labs Asset Management , a member of the Sun Life Investment Management group, appointed Richard Familetti as president and chief investment officer. Familetti is responsible for developing the firm. He continues to lead the investments team. Sean McShea stepped down as president of Ryan Labs and will remain as an advisor with the firm until the end of 2017. The new CIO joined Ryan Labs in 2009, first as a portfolio manager specializing in corporate credit and fixed-income asset allocation, before assuming the role of director of asset management in 2013. He will report to Steve Peacher, president of Sun Life Investment Management. Also, the firm created a new management committee, which Familetti leads.
PricewaterhouseCoopers appointed Olwyn Alexander as leader of its global asset and wealth management unit. She is the first woman to hold the role. In her new role, Alexander represents the asset and wealth management teams globally, including those in Europe, Middle East and Africa, the Americas and Asia-Pacific. She has spent more than 23 years in the financial services sector.
Grant Thornton appointed Matthew Jessup as office managing partner for its Cincinnati office. In this role, Jessup is responsible for developing Grant Thornton’s business opportunities and relationships in the Cincinnati area. Jessup assumed the role of Cincinnati office managing partner from Bob Taylor, who recently transitioned to a new role as the firm’s national audit practice leader.
Having previously served as Grant Thornton’s audit practice leader for the Cincinnati office, Jessup has extensive experience in audits of public and private, multi-national companies as well as mergers and acquisitions, and debt and equity offerings for public corporations. He has worked at the firm for more than 15 years.
SEI appointed David Hintz as US equity portfolio manager. Hintz joined with almost 30 years of experience in the financial services. He has been involved at SEI with developing a range of benchmark indexes and has experience in portfolio management selection. His career includes a tenure at both Russell Investments’ consulting group and Russell Investment’s funds management group. He reports to Jason Collins, global head of equity portfolio management within the investment management unit at SEI.
Dreyfus appointed Daniel Rabasco, Jeffrey Burger and Thomas Casey as the Dreyfus Municipal Bond Infrastructure Fund's primary portfolio managers. The firm continues to serve as the fund's investment manager and Standish Mellon Asset Management, continues to serve as the fund's sub-investment advisor. Rabasco, Burger and Casey have served as primary portfolio managers of the fund since its inception. Rabasco is the chief investment officer for tax sensitive fixed income at Standish. Burger is a senior portfolio manager for tax sensitive strategies at Standish. Casey is a senior portfolio manager for tax sensitive strategies at Standish.
Northern Trust appointed Roberta Ruddy as vice president and international relationship manager, for its San Diego, California office. Ruddy reports to Richard Martinez, senior vice president and team leader of international wealth advisory services in Houston, Texas. She has more than 25 years of experience in the financial industry. Prior to Northern Trust, she worked at Royal Bank of Canada as wealth management international director.
Cutter Associates appointed Gina McCafferty as principal. McCafferty worked at Cutter Associates from 1999 to 2011, the last five years heading up Cutter’s research activities. She left the firm in 2011 to join InvestIT, where she was a principal and head of research.
Raymond James recruited husband-and-wife financial advisors Marty and Jennifer Carroll to join its West Hartford, Connecticut office. Operating as Carroll Wealth Management Advisors of Raymond James, the duo specializes in wealth management for doctors, corporate executives, business owners and female investors. They joined from Merrill Lynch, where they managed some $160 million in client assets. Accompanying them is Jodi-Lynne Michaud, senior client service associate.
Mr Carroll began his career with Merrill Lynch and subsequently spent more than 19 years there prior to joining Raymond James. He also served 11 years in the US Marine Corps. Mrs Carroll joined his team and the financial services world two years ago after spending 18 years in the non-profit sector.
BNY Mellon Wealth Management appointed Eric Schwarz senior wealth director based in Cleveland, Ohio. Schwarz focuses on business development, particularly with individuals, intergenerational wealth transfer, business owners and business transition strategies. He reports to Garrett Alton, managing director of business development in the central region, as well as Ron Ambrogio, president of Ohio.
Schwarz has more than 20 years of industry experience as a wealth manager, as well as his CFP designation. Previously, he was vice president and wealth management advisor at Fifth Third Private Bank. He also served as vice president, private client group at Bernstein Global Wealth Management.
Whitlock Wealth Management, a private wealth advisory practice of Ameriprise Financial Services, appointed Ben Hazekamp as client relations manager. At Whitlock Wealth Management, Hazekamp will be responsible for serving clients within the region.
US insurance firm Chubb appointed John Alfieri as executive vice president of North America major accounts, Peter Tucker as regional executive officer and Amy Feller as regional chief operating officer. They are all based in New York. Alfieri was regional executive officer for the New York region. In his new role, Alfieri develops and implement strategies to deliver the firm’s risk management solutions to domestic and multinational companies, and oversees the broader North America field operations team. He also oversees Chubb’s network of client executives, and reports to Matthew Merna, chief operating officer for North America major accounts.
Tucker takes on the regional executive officer role for Chubb’s New York region, focusing efforts on distribution management for the region, along with executing sales strategies for the North American business unit. He reports to Jerry Butler, division president of North America insurance. Prior to this role, Tucker served as the firm’s regional chief operating officer for the New York region.
Amy Feller reports to Tucker as the new regional chief operating officer in New York and also assumes responsibility of the New York City branch. She works with Tucker in managing the overall strategy around underwriting, distribution and sales in the New York region. Feller has more than 25 years of insurance industry experience, having started at Chubb as a personal lines underwriter.
Gryphon Investors, a San Francisco-based private equity firm, appointed Wes W Lucas as a partner, with responsibilities including co-leadership of the firm’s industrial growth group. Lucas has more than 30 years of experience in both the C-suites of global Fortune 500 corporations and private companies. Prior to joining Gryphon, he served as chief executive and board member of SIRVA, the worldwide relocation and moving company. Prior to this, Lucas served as chairman, CEO and president of Sun Chemical, the producer of printing inks and pigments. Gryphon Investors has managed over $2.6 billion of equity investments and capital since 1997. It closed its fourth private equity buyout fund, Gryphon IV, in November 2016 at $1.1 billion, and raised a $100 million captive mezzanine fund, Gryphon Mezzanine Partners, LP, in August.
US Trust, part of Bank of America, appointed William Jarvis to its new position of market strategy and delivery executive. He is based in New York and previously worked at Commonfund, where he was executive director of the Commonfund Institute. Over the course of his career, he has worked at JP Morgan, Greenwich Associates, and Davis Polk & Wardwell.
Advisors Asset Management appointed Daniel Courtney as managing director and head of national account management of its capital markets group. Based in Colorado, Courtney reports to John Radtke, managing director, executive vice president and head of capital markets. Courtney joined AAM with more than a decade of experience in national sales and business development at Genworth Financial and Resource America.
Fiduciary Trust, a wealth manager and subsidiary of Franklin Templeton Investments, appointed David Bigelow as managing director and business development officer. Based in New York, he is responsible for building investment and trust relationships with individuals, families and foundations in the region. He has more than 25 years' experience in investment. He most recently worked at JP Morgan's private bank as a senior banker and executive director.
Blueprint Capital Advisors, an investment firm, appointed John McAvoy as partner. McAvoy is involved in the execution of all investment activities and responsible for the firm’s strategic investments. He is also a member of the Blueprint investment committee. He has over 30 years of experience working in equity and debt capital markets and senior investment management roles. Previously, McAvoy was president of Asset Management Finance, a subsidiary of Credit Suisse and a market leader in making minority investments in established, high quality asset managers.
Grant Thornton named Craig Stanley as national managing principal of its financial services industry practice and he is based in New York. Stanley has worked in the sector for more than 20 years. He was most recently at EY, where he founded and led the financial services technology advisory practice at that business. Before that, he was a partner at Andersen Consulting, subsequently known as Accenture, where he held a number of senior consulting, practice leadership and client relationship partner roles.
Cougar Global Investments, an asset management affiliate of Carillon Tower Advisers, named Abdullah Sheikh as head of research.
NMS Capital Advisors, a wealth management firm based in California, appointed Mitchell Avnet as chief executive. Avnet assumed CEO duties and position from Trevor Saliba, who remained with the firm as chairman. The new CEO is the founder and managing partner of Compliance Risk Concepts, a compliance consulting firm for broker dealers, registered investment advisors and hedge funds.
Boston Private appointed Chris Roy as managing director and senior business development officer. In this role, Roy is responsible for establishing new relationships with institutional and private clients. He reports to Scott Dell’Orfano, chief operating officer at Boston Private Wealth. He joined Boston Private from Windrose Advisors, where he led the client advisory group in advising endowments, foundations and families.
Baker Tilly Virchow Krause appointed Kephanie Landess as director of its consulting practice. Landess has over 23 years of human resources, enterprise resource planning, consulting and outsourcing experience.