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Summary Of Executive Moves In North America Wealth Management - July 2018
Editorial Staff
24 September 2018
North America moves July 2018 Massachusetts-based Cambridge Trust Company, the private banking and wealth management subsidiary of Cambridge Bancorp, appointed John Sullivan as senior vice president and director of personal lending and Kerri Mooney as senior vice president and director of private banking offices. The new hires replaced Thomas Johnson, the bank’s former executive vice president and consumer banking director, who left the company in June. Grant Thornton appointed Brenda Wagner as its new chief people and culture officer . She reports to Mike McGuire, Grant Thornton’s chief executive. Before this, she worked for almost four and a half years at IQVIA , where she led compensation and benefits, global talent, and global talent acquisition.
RBC Global Asset Management appointed Nidhi Chadda as portfolio manager and Andrew Topps as senior equity analyst. Both joined RBC GAM's US equity team based in Chicago. Chadda provides research and portfolio management for RBC GAM's small, SMID and mid-cap growth strategies. She began her career in the investment industry in 2010. She was previously vice president and generalist research analyst at Fred Alger Management. Topps also provides research and analysis for RBC GAM's small, SMID and mid-cap growth strategies. He began his investment career in 2002. His previous role was as a senior research analyst at Holland Capital.
Rockefeller Capital Management appointed Jack Ryan, who has worked in a diverse set of industries, as its first ever chief human capital officer. Ryan previously worked at GE, where he spent the last 25 years in HR roles, including six as the most senior HR executive for GE Capital. Ryan will be responsible for all human resource functions at Rockefeller Capital Management, including leadership development and management across wealth management, asset management and strategic advisory.
First Republic Bank hired Sam Hodgson as managing director and wealth manager of First Republic Investment Management. Hodgson works at the bank’s office at 160 Federal Street in Boston, providing investment management, retirement planning and other wealth management services to individuals, families, businesses, non-profits and foundations. Prior to First Republic, Hodgson was a managing director at Merrill Lynch, where he worked for 27 years.
New York and Florida-based National Holdings Corporation appointed Henry Kaplan as president and chief operating officer of National Asset Management and executive vice president of investment solutions at National Securities Corporation. Kaplan has over thirty years of industry experience, most recently as a managing director at Morgan Stanley.
BNY Mellon appointed Akash Shah as a senior executive vice president and the newly-created role of head of strategy. She reports to Charles Scharf, chief executive, and is based in New York. He joined from McKinsey & Company, where he was a partner in the New York office. He has over 12 years of experience advising leading financial institutions in the US, Europe, and Asia.
Standard Chartered appointed Stephen Atkinson as regional head of private banking, Europe, Middle East and Africa and global head of private banking referrals. He took on the regional responsibilities from Ian Gibson, who retired. Atkinson has 27 years of experience at Standard Chartered. Most recently, he was chief of staff for the bank’s chief executive, Bill Winters. In his new role, Atkinson is based in London and reports to Didier von Daeniken, global head of private banking and wealth management, and to Tracy Clarke in her capacity as regional CEO, Europe and Americas.
The Securities and Exchange Commission appointed Kristin Snyder as deputy director of the agency’s Office of Compliance Inspections and Examinations . Snyder has been with the SEC for 15 years. She served as the co-national associate director of OCIE’s Investment Company/Investment Adviser examination program since August 2016 and as the associate regional director for examinations in the SEC’s San Francisco office since November 2011. She continues in both of these roles while also assuming this additional leadership role in OCIE. As deputy director, Snyder oversees many of the office’s strategic initiatives and serves as the regional advisor to OCIE director, Peter Driscoll.
Oklahoma City-based MidFirst Bank, which has wealth management and private banking operations, made several changes to its management team. It named Todd Dobson as its new president, DJ Morgan as senior executive vice president and chief commercial banking officer, and Greg Schaefer as executive vice president and chief financial officer. Dobson joined MidFirst in 1991; he has served as its CFO since 1995, and as a member of its board of directors since 2007. Dobson spent seven years with PwC before joining MidFirst. Morgan has been with MidFirst since 2006. He serves in a senior leadership role covering private banking, wealth management, and commercial banking. Schaefer joined MidFirst in 2000 and most recently served as the director of finance administration. Before joining MidFirst, Schaefer spent three years in public accounting. Jeff Records remains the chief executive and chairman of the board of directors.
Brenton Point Wealth Advisors, an investment advisory firm with offices in New York and Connecticut, appointed Larry Rollins as private wealth advisor. Rollins leads its new Westport, Connecticut office. He joined from Fidelity Investments, where he most recently served as a vice president and financial consultant.
Bryn Mawr Bank Corporation, parent company of the Bryn Mawr Trust, named Joseph DiMaio Jnr as senior vice president and relationship manager of BMT Wealth Management. DiMaio reports to BMT Wealth Management division president, Jennifer Dempsey Fox. He has more than 25 years of experience in wealth management, having held senior positions with Merrill Lynch, Key Capital Management, and most recently with West Capital Management.
Caldwell Trust Company promoted Kimberly Evener and Marci Sweat from trust associates to trust officers. Evener began her financial career in 2001 in New Jersey while still in high school. She relocated to Florida in 2003 and joined Northern Trust Company in 2004, beginning as a senior teller and departing in 2016 as a trust associate. She joined Caldwell in 2016 and graduated in 2017 from the Florida Bankers Association's three-year program, Florida Trust & Wealth Management School, earning her FBA certification. She is currently working towards the American Bankers Association designation of Certified Trust and Financial Advisor .
She is based in Caldwell’s Sarasota office, reporting to Jan Miller, executive vice president and trust officer. Sweat began her financial career in 2008 with Northern Trust Company in Sarasota, where she remained for over nine years, departing as officer and account manager on the wealth management advisory team.
BlueMountain Capital Management, an alternative asset management firm, appointed Ameya Agge and Matt Jameson as senior investing professionals to source, evaluate, and execute healthcare-related private investments. Both were newly-created positions reporting to Jim Pieri, head of private healthcare. Agge joined from Apax Partners, where he specialized in private healthcare investments in the US and Europe. Jameson joined from Highland Capital Management, where he was a managing director and co-head of private equity.
US-based Regions Bank, which has a wealth management segment, appointed Leroy Abrahams as head of community affairs and executive vice president. Abrahams reports to Keith Herron, head of corporate responsibility and community engagement. Prior to this, Abrahams served as area president in North Central Alabama. He joined Regions in 2013 as head of strategic and corporate planning.
US Bank Wealth Management named John Zimmerman as president of Ascent Private Capital Management, the company’s family office advisory and wealth management business for ultra-high net worth clients. He replaced Michael Cole in the role. Zimmerman served as Ascent regional managing director for the Denver region since 2016. In his role, Zimmerman set the strategic direction and oversee all aspects of Wealth Management’s ultra-high net worth business. He continues to reside in Denver. He has more than 30 years of experience in financial services. Prior to joining US Bank, he was president of Denver Investments; president of the Westcore Mutual Funds board of trustees; founder, partner and managing director at Northern Lights Capital Group; managing director and executive vice president at Janus Capital Group; and managing director at Banc of America Capital Management.
Global investment management firm Pimco confirmed that Bill De Leon had resigned from his role as global head of risk management in order to spend more time with his family, despite reports that he stepped down after a probe into his personal conduct. De Leon, who was also a managing director at the Californian-based asset manager, had been head of risk since 2009. He was replaced by Sudi Mariappa, currently managing director and portfolio manager, as its new global head of portfolio risk management. Mariappa has 31 years of experience in the investment management industry including 14 years with Pimco in various roles.
RBC Wealth Management appointed four new members to its offices in Florham Park, New Jersey. It hired Michael Gee as senior vice president and financial advisor, Andrea Savva as vice president, and Raymond Lee as vice president and financial advisor. Another joiner was Eric Woo and senior business associate.
Alpine Global Management, a US-based investment firm, appointed Gene Song as a portfolio manager and global head of equity capital markets . Song has 25 years of ECM experience. Before joining Alpine Global, Song worked at Citi, most recently as head of institutional equity sales in New York.
BNP Paribas Asset Management appointed Jane Ambachtsheer as global head of sustainability. Ambachtsheer reports to Frédéric Janbon, chief executive and head of investments at BNPP AM. She is based in Paris.
JDJ Family Office Services, the administrative multi-family office based in Boston, MA, appointed Kylie Ruschioni, CFP® and Trish Richardson as new partners. Ruschioni works with clients to manage many aspects of their financial lives, including tax planning, estate planning and implementation, customized financial reporting, and investment administration. Richardson manages a variety of administrative functions, including marketing, office management, event planning, and various human resources duties.
Raymond James promoted Todd Gartrell, CFP®, to the rank of southeast regional director for Raymond James Financial Services, the firm’s independent broker/dealer. Gartrell had previously served as an assistant regional director for the RJFS Southeast region since 2012. He replaced Jodi Perry, who now serves as president of the RJFS Independent Contractor Division .
Global executive search firm Russell Reynolds Associates, which covers sectors including financial services, appointed Paul Ottolini as chief financial officer. Previously Ottolini was the CFO of IBM's Global Business Services division. Before this, Ottolini was at Deloitte for over 20 years, where he held a range of financial, operational and client-facing roles.
Hawthorn, PNC Family Wealth appointed Amy West as senior vice president and managing director. Based in Naples, Florida, West serves as the managing director for the Florida market. A 15-year veteran of the wealth management industry, West was previously with PNC Wealth Management, where she served as an investment director and senior investment advisor.
HSBC Private Banking - Americas appointed Carly McKeeman as philanthropic and family governance specialist. She has more than 10 years of charitable planning and administration experience. McKeeman joins from Evercore Wealth Management, where she worked with ultra-high net worth families and their outside advisors on investment management and fiduciary planning matters. Based in New York, McKeeman reports to Heather Flanagan, regional head of private wealth solutions for HSBC Private Banking, Americas.
Sullivan has more than 30 years of banking experience. He joins Cambridge Trust from Boston Private Bank & Trust Company. Mooney has nearly 25 years of experience in banking. He was previously director of branches for HarborOne Bank, where she was responsible for service, sales, talent development, operations and risk management in its retail division.
Peapack-Gladstone Financial Corporation and hired William M Robb as senior managing director and senior portfolio manager for Peapack Private, the wealth management division of the bank.
Bank Leumi USA appointed Mark Fagnani to head its new asset-based lending business. Fagnani worked for Congress Financial and its successor companies, First Union Business Credit, Wachovia Capital Finance and Wells Fargo Foothill , for more than 30 years.
UBS appointed Susan Elolampi from JP Morgan to work with private equity firms and head up investment banking for family offices in the Americas, a sign of how such banks are trying to engage with that sector. Elolampi has the title of managing director and is based in New York. Elolampi has worked in various roles at JP Morgan since September 2001. Most recently, from February 2015 she was the MD for investment banking - family office coverage.
Global financial services firm Northern Trust confirmed that Jana Schreuder, executive vice president and chief operating officer was retiring. Schreuder spent 38 years at the firm since she joined in 1980. She has held a number of roles during her tenure as a member of the management group, including serving as COO, president of wealth management, president of operations and technology, and chief risk officer.
EisnerAmper, the provider of tax, accounting and business services, built a real estate private equity group to tap expansion in the sector. Based out of the firm’s New York City office, partner Lisa Knee will be the national leader of the group. Alongside her is partner Todd Hankin, who leads the West Coast practice from the San Francisco office; and partner Maureen Blair, based in the New York City office, who leads the East Coast practice.
Heather Brilliant, CFA, has been elected the new chair and Diane C Nordin, CFA, the vice chair of the board of governors of CFA Institute. Brilliant is managing director, Americas, of First State Investments where she is responsible for expanding First State’s market presence across the Americas. She was previously CEO of Morningstar Australasia, and was global director of equity and corporate credit research for seven years prior to this. Before joining Morningstar, Brilliant spent several years as an equity research analyst for boutique investment firms. Nordin has more than 35 years of experience in the investment industry to her position as vice chair. She is a director of Fannie Mae, where she serves as chair of the compensation committee and member of the audit committee. Recently, she was elected to join the Principal Financial Group Board, and is also on the board of Antares, a unit of GE Capital.
Citi Private Bank appointed Lance Bylow and Morgan Dever as private bankers, who joined in early August. Bylow joined as managing director and private banker; he previously was at US Trust, where he held the role of private client advisor. Both Bylow and Dever are based in New York and report to Ida Liu, global market manager – New York, Citi Private Bank. The firm also appointed Lisa Yang as an associate banker. Yang is also based in New York and reports to Sean Howard, business manager, ultra-high net worth – Metro New York, Citi Private Bank.
Raymond James hired financial advisor Michelle Spaziani, CFP®, to join its independent broker/dealer arm, Raymond James Financial Services. She is based in Greenfield, Massachusetts. Spaziani joined from Wells Fargo Advisors, where she previously managed about $118 million in client assets and had around $940,000 in annual production. Another arrival was Angela Streeter, client service and office manager. The team operates as Summit Behavioral Wealth and provides wealth management and financial planning services to a variety of clients, with a focus on behavioral finance.
PIMCO, the fixed income investment manager, appointed Sapna Shah, an executive vice president based in Newport Beach, as head of corporate responsibility. Shah was previously responsible for the firm’s global inclusion, diversity and culture initiatives. She reports to Cathy Stahl, managing director and global head of marketing. The role is a newly-created one. Prior to joining PIMCO in 2007, she was with the equity research group of JPMorgan Asset Management.
Law firm Butler Snow appointed Mandy Pope as its new chief financial officer. Pope replaced Rance Sapen, who was promoted to chief operating officer. Pope has more than two decades of executive leadership and management experience in various sectors. Most recently, she served as COO of Mississippi Today, where she played a key role in the launch of the startup non-profit digital news site for the state, and was responsible for the development and implementation of systems and processes related to all significant aspects of infrastructure. Prior to Mississippi Today, Pope worked for 16 years in senior leadership for a NYSE real estate investment trust, where she served as executive vice president and chief accounting officer.
TFC Financial Management , an independent registered investment advisory and financial planning firm, appointed Debra McDonald as a senior client advisor. Most recently, McDonald spent 13 years with Wingate Wealth Advisors in Lexington, Massachusetts. Prior to that, she spent four years with Charles Schwab.
A subsidiary of Wells Fargo that produces research and ideas across the US banking group hired a head of global equity strategy, based out of New York. The Wells Fargo Investment Institute appointed Audrey Kaplan as head of global equity strategy. The equity strategy she sets is used by the investment professionals across Wells Fargo’s entities, including its Abbot Downing business that serves ultra-high net worth clients. Kaplan has more than 25 years of global investment industry experience focused on equity research, quantitative analysis and portfolio strategy in global and domestic markets. Most recently, she led the international equities portfolio management and research team at Federated Investors.
US Trust, Bank of America Philanthropic Solutions Group appointed Dianne Chipps-Bailey as a national practice executive for non-profit consulting, Crissie Fortmeyer as senior institutional sales director and Holly Swan as a national practice executive for the family office.
Florida-based Carillon Tower Advisers, the asset management house, added four members to its senior accounts and institutional sales teams. The team brought in "Jim" Haggerty, CFA, and Michael Mayhew, CFA, as senior vice presidents, while Justyna Z Barczynska, CMFC, joined as vice president. In the newly-created roles, Haggerty, Mayhew, and Barczynska report to Lance E Peterson, head of strategic accounts, and are responsible for placing the firm's investment solutions with Carillon Tower's partner platforms. Separately, the institutional sales team hired Kieran Stover. Stover serves as SVP, institutional sales and consultant relations, reporting to Don Pepin, head of institutional sales. In his new role, Stover is responsible for business development across the plan-sponsor spectrum including public funds, corporate pension funds, foundations and endowments while working collaboratively with West Coast teammates.
New York-listed Janus Henderson Group, which is based in London, appointed Michelle Rosenberg as general counsel and company secretary of Janus Henderson Investors. Rosenberg oversees the legal and internal audit functions and reports to co-CEOs Richard Weil and Andrew Formica. She is based primarily in Denver. Prior this, Rosenberg was head of legal for North America and joined Janus Henderson from Fidelity Investments in 2003. She has 20 years of financial services experience.
Jersey-based Sanne Group, provider of trust and fund administration services with offices in New York, appointed James Ireland as its new chief financial officer. Based in Sanne’s London office, Ireland took over the role from Spencer Daley, who moved into the role of head of M&A and strategy. Ireland most recently led Investec's support services sector team. He has also been a close advisor to Sanne for more than three years.
Goldman Sachs appointed Drew Faust to its board as an independent director. Faust retired as president of Harvard University on June 30, 2018, having served in that role since 2007. She continues to serve as the Lincoln Professor of History at Harvard, a position she has held since 2001.
CIBC Mellon, the joint venture between Imperial Bank of Commerce and the Mellon Financial Corporation , appointed Karen Rowe as the company's new chief financial officer. Rowe replaced Duncan Webb, who recently announced his retirement after a 35-year career in financial services. Rowe joined CIBC Mellon from Canada Pension Plan Investment Board .
Diversified Trust, an independent wealth management firm, appointed Mary Callis as senior vice president of its Atlanta office. She is responsible for client relationship management. Prior to joining Diversified Trust, Callis served as a financial advisor at Morgan Stanley in Atlanta.
Aberdeen Standard Investment appointed Jeremy Browne as international business ambassador for Europe, the Middle East and Africa, and the Americas. He reports to John Campbell, global head of strategic clients. Browne most recently held the positon of City of London’s special representative to the European Union. His previous roles have included Minister of State, Foreign and Commonwealth Office and Minister of State, Home Office.