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Summary Of North America Moves In Wealth Management - June 2018
Editorial Staff
6 August 2018
RBC Wealth Management hired the Johnson Prince Group to its Century City, California office. The Johnson Prince Group is comprised of Daniel Johnson, senior vice president and financial advisor, who has 21 years of industry experience; and John Prince, senior vice president and financial advisor, who has 26 year of experience; and Kim Johnson, senior registered client associate, who has 14 years of industry experience. The team joined from Merrill Lynch.
Raymond James, the US-listed wealth management group, recruited financial advisors Mark Griffin and Mark Liley to Raymond James & Associates – the firm’s traditional employee broker/dealer – in Denver, Colorado. Griffin and Liley joined Robert Campbell and Jarrod Biebel, who operate as First Avenue Wealth Partners of Raymond James. The two advisors moved to RJA from Wells Fargo Advisors, where they previously managed approximately $505 million in client assets. They provide wealth management services to business owners, high-net-worth individuals, endowments and foundations.
Griffin has more than four decades of industry experience and extensive expertise in institutional bonds. He has worked previously at various firms, including A.G. Edward & Sons, Dain Bosworth, Kirchner, Moore and Company, where he served as partner and senior vice president, and Boettcher & Company, where he served as general partner and sales manager. Most recently, Griffin worked as a financial advisor at Wells Fargo from 2001 to 2018. Prior to his financial services career, he served as a captain in the United States Army. He received his bachelor’s degree in economics from Virginia Military Institute.
Liley began his financial services career in 2002 at The Leaders Group. He later joined Wells Fargo, where he worked as a financial advisor for nearly 15 years, specializing in custom discretionary portfolio management. Liley graduated from Colorado State University with a bachelor’s degree in economics.
Andrew Salesky named head of advisor technology solutions at Charles Schwab, taking over from Ed Obuchowski, who left in April to become chief technology officer at Advisor Group.
US-based United Capital Financial Advisers appointed Kara Murphy, CFA as its new chief investment officer. She has worked in the industry for more than 20 years. Her hire filled a vacancy left by the previous CIO Rob Brown, who has since left United Capital. Murphy was previously CIO at SunAmerica Asset Management, a member of America International Group . She also served as a vice president, equities analyst at Chilton Investment Company and an associate vice president, equities analyst at Morgan Stanley Investment Management.
Kentucky-based Stock Yards Bancorp, parent company of Stock Yards Bank & Trust, appointed James Hillebrand as chief executive. Hillebrand has served as president of the company and the bank, and has served on the company's board of directors since 2008. Hillebrand joined the company in 1996 to develop its private banking group. He took over from David Heintzman, who retired as CEO and moved into the role of executive chairman of the board. Heintzman joined the company in 1985. In 1992, he was elected President, and has served as chairman and CEO since January 2005.
Philip Poindexter, executive vice president and chief lending officer, became president of the company and the bank. Poindexter joined the company in 2004 as executive vice president and director of commercial lending.
Emir Culov, a former portfolio manager director and senior advisor at Morgan Stanley since March 2012, left that firm to join Wells Fargo Advisors Financial Network. He is based in Buffalo, NY.
Canadian Imperial Bank of Commerce, aka CIBC, added two former Wells Fargo bankers to its wealth management and commercial banking teams in Denver, Colorado. Kate Rooney and Vanessa Ringdahl joined CIBC: Rooney is a member of CIBC’s commercial banking team as a managing director and relationship manager. Ringdahl joined its private wealth Management team as managing director and senior private banker.
Rooney has more than 12 years of financial industry experience. Prior to this, she spent 10 years in a variety of commercial banking roles at Wells Fargo Bank, most recently serving as relationship manager and vice president managing a portfolio of middle market clients.
Ringdahl has more than 14 years of financial industry experience to the firm. Previously, Ringdahl spent over a decade at Wells Fargo Bank. Most recently, she served as a vice president, advising ultra-high net worth individuals and families about wealth preservation, transition, lending, planning, trust and fiduciary services and investments.
Katten Muchin Rosenman, the law firm, appointed Cynthia Brittain as a partner in its trusts and estates practices in the Los Angeles–Century City office. Brittain previously served as the director of inbound wealth advisory and a senior fiduciary officer for Northern Trust, where she was responsible for designing estate plans and advising on the use of multi-jurisdictions for effective tax planning. She also previously was employed as an attorney in London and Hong Kong, and has extensive experience counseling clients on tax mitigation and cross-border wealth transfer strategies as well as succession plans for family-owned companies.
LPL Financial Holdings appointed Allison H Mnookin to its board of directors. Mnookin joined with two decades of experience as a technology executive for high-growth business software companies. She most recently served as chief executive of QuickBase Inc., a provider of online application software which was formerly a division of Intuit, Inc. Prior to leading QuickBase, she held several positions at Intuit, including general manager in Intuit’s small business division where she was responsible for leading a portfolio of Intuit’s business products, including QuickBooks.
US Global Investors, the registered investment advisory firm, said its president, general counsel and chief compliance officer, Susan McGee, had resigned. She was asked to join a fund board at Goldman Sachs Asset Management. She continues to practice law and spend more time with her family.
Fiduciary Trust Company appointed John P Morey in the newly-created position of vice president, head of client service and business development. He reports to president and chief executive Austin V Shapard and will be a member of the firm’s senior management team. Morey joined from GMO, an institutional asset management firm, where he was a partner and served as head of client relations, North America, for the past 15 years.
US wealth manager Hilliard Lyons hired Looking Glass Wealth Advisors to its Asheville, North Carolina office. The team were previously associated with Oppenheimer & Co. The group is aligned into two teams, each with three wealth advisors and one client service associate. The teams – the Blue Ridge Group and the Ridgeline Group – are based in Hilliard Lyons’ branch office at 79 Woodfin Place in Asheville.
Silicon Valley Bank, which has a private banking operation, appointed Jane Ullman as managing director at its Portland, Oregon office. Ullman is `responsible for supporting Oregon's innovation economy and will lead SVB's local banking team. She has more than 20 years of experience as a finance and operations executive for organizations including Rulespace, Shiftwise and The Clymb.
New York Life Investment Management appointed Jean-Pierre "JP" Gerard as head of business intelligence and data analytics. He report to Kirk Lehneis, chief operating officer of NYLIM. Most recently, Gerard served as head of analytics for North America at Mastercard. In that role, he was responsible for managing the delivery of multi-million dollar analytics projects for top banks worldwide. He also led Mastercard's campaign analytics team in the design and measurement of over 200 multichannel marketing programs.
First Republic Bank appointed a trio of former Wells Fargo wealth managers: Vincent Lovoy, Adam MacDonald, and Todd Halbrook. Lovoy, MacDonald and Halbrook were each named managing director and wealth manager, working at the bank’s office at MacArthur Boulevard in Newport Beach. Lovoy has more than 30 years of experience creating customized wealth planning strategies for high net worth individuals, families and businesses. Before joining First Republic, Lovoy was MD in the private client group at Wells Fargo Advisors. Before that, he worked for 15 years at Smith Barney . Earlier in his career, he worked at Kidder, Peabody & Co. and Crowell, Weedon & Co. MacDonald has more than 11 years of financial services experience. Prior to his latest job, he was senior vice president in the Wells Fargo private client group. Halbrook has 20 years of industry experience, and was also previously at the private client group of Wells Fargo.. Earlier in his career, he worked for 12 years at Smith Barney of more than $130 billion and managed a team of 60 investment professionals in more than 10 locations.
RBC Wealth Management appointed David McClure as senior vice president and financial advisor. McClure is based in the firm's Charlotte, North Carolina office and he joins from Wells Fargo Advisors, where he has been since 2007. He managed $110 million in assets.
Aspiriant, a US-based independent wealth management firm, appointed five new principals.
The new principals:
- Lani Kapur Rains, manager of wealth management ;
- Melissa Punim, manager of strategic planning ;
- Natalie Morrella, manager of wealth management ;
- Nate Kublank, director of investment advisory ; and
- Ryan Benson, manager of wealth management .
RBC Wealth Management opened a new office in St Louis and another in Nashville, part of its expansion program. Brian Bell, branch director, joined from JP Morgan and has a 25-year career history in the sector. Also joining from JP Morgan is Financial Advisor Aaron Foster, who has 18 years of experience. Arriving at the Nashville office was Jim Aid, financial advisor and managing director. He has more than 20 years’ experience in the industry, and previously worked at Wells Fargo. He manages more than $900 million in assets and with individuals and institutional clients.
Atria Wealth Solutions, a wealth management solutions firm, appointed Matthew Bassuk as national director of recruiting, Brian Bichler as head of platform experience and Travis Grimm as head of program management. Prior to joining Atria, Bassuk was the senior vice president and head of recruiting at Cetera Financial Group. Bichler will oversee the design and delivery of an integrated and optimized user experience, and Grimm will lead program management, business analysis and project execution.
Ruston, Louisiana-based Argent Trust Company said Mollie Seymour has as senior vice president/trust officer in its Birmingham office. Seymour manages personal and charitable relationships.
Alex Brown, a division of Raymond James, recruited an investment management group led by Jon DuPrau and Caspar Tudor from JP Morgan Securities in Los Angeles. DuPrau leads institutional consulting efforts in Southern California and will serve as one of the 17 advisors who make up the institutional consulting business at Alex. Brown. With 18 years industry experience, DuPrau started as a quantum portfolio manager for Prudential Securities and having studied technology’s effects on the capital markets exclusively throughout his career. Tudor, vice president, Investments, works on the team’s formulas for the Russell 1000 and 2000 indices.
A recent joiner was Peter Barry. Since 1991, Barry has worked with both institutional and high net worth individuals. Barry brought more than 25 years of experience with a wide range of alternative investment strategies and prior experience as a portfolio manager at a large New York family office. Another joiner to the team was Maria Lee, senior registered client associate; Iris Lee, director of portfolio consulting in Los Angeles; and several senior leaders and supporting analysts of Alex. Brown’s Institutional Consulting business.
The Securities and Exchange Commission named Paul Cellupica has been named as chief counsel for its investment management division. Cellupica served in several roles in this division, and in the enforcement division from 1996 to 2004, re-joining the investment management arm in November last year. Prior to returning to the division last year, Cellupica was managing director and general counsel for securities law at Teachers Insurance and Annuity Association of America. Prior to that, he was chief counsel for the Americas at MetLife.
US-based PNC Bank appointed Pamela Austin as senior vice president and senior banking advisor for wealth management. Based in Mishawaka, Austin specializes in deposit and loan solutions, uniquely tailored to high net worth clients and their families. Austin has more than 30 years of banking experience, including private banking, financial analysis, marketing, business development sales, wealth transfer and problem resolution for clients and their families. Most recently, she served as vice president at 1st Source Bank, where she was responsible for loans and deposit solutions within the family office. In a separate appointment, PNC named Missie M Thompson as PNC Wealth Management Director of the Eastern Carolinas market. She is based in Raleigh, NC. Thompson has 15 years’ experience in financial services, including roles as relationship strategist and private relationship manager for high net worth clients. She has a bachelor’s in business administration from East Carolina University, and a MBA from Meredith College.
Global investment manager Schroders appointed Peter Hall as its new global head of wealth management. Hall replaced Andrew Ross, who has decided to step back from a full-time executive role and will move to a new role within Schroders as vice chairman of wealth management.
Silicon Valley Bank appointed Yvette Butler as its new private banking head. Previously, Butler was president of Capital One Investing, a division of Capital One Financial. Butler has more than 25 years of experience in financial services. Besides her Capital One role, she also held senior-level positions at Charles Schwab, E*Trade, Wells Fargo and others. She is a board member of the Washington Area Women's Foundation and the CFP Advisory Board.
Hawthorn- PNC Family Wealth, a PNC Financial Group subsidiary dedicated to serving the needs of individuals and families with investable assets in excess of $20 million, appointed Marisa Facciolo as vice president and senior relationship strategist. Prior to joining Hawthorn, Facciolo was a senior wealth director at BNY Mellon Wealth Management.
New York-based Snowden Lane Partners, an independent wealth advisory firm, appointed Mark Hogan, Leah Eller, Pam Appleby and Josh Hogan of the Hogan Eller Wealth Management Group to join its operation in San Antonio, Texas. Mark Hogan joined Snowden Lane as a senior partner and managing director, Eller as a partner and managing director. The group joined from Wells Fargo, where Mark Hogan and Eller focused on retirement and estate planning strategies, business services and tax-advantaged education savings plans, and oversaw over $150 million in client assets. The new team moved to new offices in San Antonio, along with senior partner and managing director Larry Barocas, partner Marcus Selva, and senior registered client relationship Manager, Debbie Ury, who joined Snowden Lane in Texas last year.
Schroders appointed Peter Hall as its new global head of wealth management. Hall was most recently chief executive of UK wealth manager Tilney. Hall stepped down in October 2017 after seven years at the helm and more recently has been an advisor to Tilney’s parent company Permira on pursuing investment opportunities in global wealth management. He replaced Andrew Ross, who decided to step back from a full-time executive role.
The private law firm group of Citi Private Bank named Jeff Grossman as its business development head, taking up the role from July 16. Grossman is based in New York City and reports to Naz Vahid, the law firm group head, Citi Private Bank. He re-joined the firm after 14 years in other roles. Prior to this, Grossman worked at Wells Fargo where he was one of the co-founders of its legal specialty group. He was the senior director of banking for the group where he led the banking, credit, deposits and treasury management for the business. His remit at Wells Fargo also included managing the advisory services which produced regular law firm surveys from 180+ firms as well as merger and acquisition analysis.
LPL Financial, the US investment advisory firm and broker dealer, appointed former senior UBS executive Richard Steinmeier as managing director and head of business development, effective mid-August. Steinmeier fille a role previously held by Bill Morrissey, who retired from LPL to spend more time with his family. Prior this role, Steinmeier was MD and chief digital officer for UBS Global Wealth Management. He joined UBS in 2012 as head of the emerging affluent segment and the wealth advice center.
Glenmede, a privately held and independently owned investment and wealth management firm, appointed Thomas Melcher as associate director and managing director of investment management. Melcher reported to Peter Zuleba, director of investment management for Glenmede. He joined Glenmede from PNC, where he most recently served executive vice president and chief investment officer for PNC Asset Management.
Bank Leumi USA, part of Israel-headquartered lender Leumi, appointed Dan O'Donnell as the new head of credit, based in its New York headquarters. O’Donnell reports to the head of commercial banking, Shawn McGowen. He has more than 25 years of banking experience in both lending and credit environments, primarily covering large and mid-corporate and middle market segments in a variety of industries.
Prior to this role, O'Donnell was a senior vice president and senior credit officer with Fifth Third Bank, where he was responsible for national coverage of the $15 billion corporate banking segment. Prior to this, he spent nearly 10 years with Wells Fargo Bank and was focused on general commercial and industrial lending in the Northeast.
LPL Financial said Christopher Manci and his team of five associates joined, bringing more than $100 million of client brokerage and advisory assets.
The wealth management arm of Bank of America, Merrill Lynch, promoted Josh Nagel as managing director. He is based in the Louisville office. Nagel joined Merrill Lynch in 2001.
Fiduciary Trust, a global wealth manager and wholly-owned subsidiary of Franklin Templeton Investments, appointed Isaac Barrocas as senior portfolio manager, and Nita Vyas as trust counsel, based in the New York office. Also, Leticia Hernandez was appointed trust counsel in Fiduciary Trust’s South Florida office in Coral Gables. Prior to joining Fiduciary Trust, Barrocas spent 12 years at BNY Mellon Wealth Management in New York, most recently as senior portfolio manager and senior director in the international wealth management segment.
Vyas joined from the law firm Greenbaum, Rowe, Smith & Davis, where she was counsel in the tax, trusts, and estates department. Hernandez was previously a shareholder in Miami-based law firm Fowler White Burnett, where she was a member of the trust and estates practice group. She has over 15 years of experience in the sector.
South State Bank was appointed Jane Coble and John Neal to its private banking team based in Richmond. Coble has more than 30 years of experience in the banking industry, having worked at Wells Fargo and Union Bank & Trust in Richmond, where she was most recently a branch manager. Neal has more than 13 years of banking experience. He most recently served on the Richmond-based SunTrust Bank Private Wealth team focused on physicians and their banking needs.
Hilton Capital Management, an investment management boutique, appointed Katherine Cathcart as a relationship manager. Cathcart has over 25 years of investment industry experience. Prior to joining Hilton Capital, Cathcart was a managing director at Logan Capital Management.
Heritage Trust Company, which has offices in Texas and Oklahoma, hired Bruce Carson as a relationship manager. In his new role, Carson helps the company’s farm and ranch business. Carson is a certified public accountant and has more than 25 years of experience in the accounting industry. He previously owned a public accounting firm in Altus, where he specialized in farm and ranch clients. Carson previously worked in operations accounting for Stilwell Foods in Stilwell, and as an auditor for a public accounting firm in Ada.
Argent Trust Company hired Stephanie Allen as a wealth advisor in its Austin, Texas office. Allen works in a fiduciary role with Argent Trust Company clients. Allen has 11 years of experience in trust and estate planning and administration, having begun working for an estate planning and probate law firm prior to and during law school.
Goldman Sachs appointed Justin Tuck as a vice president in its private wealth management division. Tuck is a former NFL defensive end, who spent eight years at the New York Giants, and the last few years of his career at the Oakland Raiders.Tuck graduated from the Wharton School of Business the University of Pennsylvania with a MBA in management.
Christophe Aba, JP Morgan Private Bank's managing director and regional head of investments for Southeast Asia, moved to the US for a new role. Aba moved to the US bank’s office in New York to be head of investments for Mexico. Aba reports to Eduardo Loja, the investment team leader for Latin America. Aba was replaced by Diana Robinson, head of equities for Europe, Middle East and Africa.
Ohio-based Key Private Bank, the wealth management division of KeyCorp, appointed Bola Olusanya as managing director of asset allocation and portfolio strategy. He is based in Cleveland and report to George Mateyo, chief investment officer at Key Private Bank. Prior to joining Key, Olusanya served as managing director at Strategic Investment Group, where he co-managed the firm's public equity portfolios and led a team of seven investment professionals.
Swiss financial services firm Vontobel expanded the Zurich team of Vontobel Swiss Wealth Advisors AG , which offers investment solutions for North American clients, with four new asset management hires. The firm hired Felix Samuel Fässler, David M. Stankay, Daniela Geiger and Matthew Utermöhlen.
PIMCO, fixed-income investment manager, appointed Colin Riendeau as executive vice president and head of corporate development. Riendeau is based in PIMCO’s New York office and reports to John Kirkowski, managing director and co-chief financial officer.
Boston Private appointed advisors as part of its work with a Florida-based firm. The business named John Tassone and Tate Haire as new senior wealth advisors and co-heads of wealth management for Southwestern Florida. The duo built up SteelBridge Private Wealth Advisors and are based out of Naples. Haire has more than 20 years of experience in financial planning, wealth and investment management, insurance, and credit and banking solutions. Prior to SteelBridge, he Haire was a wealth advisor with Wells Fargo Private Bank and also held roles at SunTrust as a private client advisor and at BB&T as a group private banking manager. He is a Certified Financial Planner. Tassone also has a 20-year track record in the sector. Previously, he was a senior executive at GenSpring Family Offices.