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Summary Of Executive Moves In The Americas: August 2014
Eliane Chavagnon
3 September 2014
Threshold Group, a family-owned wealth management firm and family office, enhanced its investment and client service capabilities with three senior hires. Teresa Wells was appointed as director of investment strategy in Seattle, WA, where she will lead research activities on the West Coast while working alongside chief investment officer Ron Albahary and Mark deVries, Threshold's director of manager research. Most recently, Wells was an investment strategist at Laird Norton Wealth Management. Meanwhile, Ryan Campbell joined Threshold as an investment analyst in Philadelphia, PA, to assist with the research, selection and monitoring of investment managers. Campbell has seven years of investment research and management experience, having previously worked at Convergent Wealth Advisors and Goldman Sachs in private wealth management, fixed income sales and investment analysis. On the client service side, Threshold brought in Nicholas Hickly as an associate director in Seattle office to work with the firm's wealth advisors. He will manage the set-up and maintenance of clients' investment accounts and assist with tax and estate planning. Hickly was latterly a private wealth manager at United Capital, having also worked as a financial advisor at Chase Wealth Management, Merrill Lynch and Edward Jones. Raymond James recruited senior vice president of investments Robert Clayson in Wellesley Hills, MA. Clayson joined from Wells Fargo, where he managed about $115 million in client assets and had annual fees and commissions of about $800,000. Joining Clayson at Raymond James is Carolyne Wabuyele, senior registered client service associate. Clayson, a 43-year industry veteran, worked at Bear Stearns, Morgan Stanley and Wells Fargo Advisors before joining Raymond James. Financial advisors Travis Barr and Marco Cisneros joined Wells Fargo Advisors in Seal Beach, CA, from Merrill Lynch. At Merrill, they managed more than $227 million in combined assets and have over 20 years of industry experience. Financial consultant Mallory Brady also joined them from Merrill. Deutsche Asset & Wealth Management appointed Chuck Fiedler as head of strategy and business development - a new role for the firm’s liquid real assets platform that is part of its alternatives and real assets business. Fiedler will be based in Chicago, IL, and report to John Robertson, global head of liquid real assets. DeAWM’s liquid real assets platform comprises listed real estate, listed infrastructure and commodities strategies totaling nearly $30 billion in assets under management, as of June 30, 2014. Andy Waldbaum was appointed to head up Raymond James & Associates’ Beverly Hills, CA, branch, where the firm also brought in The Handler Investment Consulting Group. Waldbaum assumed the title of resident branch manager and senior vice president of investments. He was previously vice president of business strategy and initiative manager at Merrill Lynch Wealth Management, as well as complex business development officer and senior vice president at Morgan Stanley Smith Barney. As for the team, Gary Handler, senior vice president of investments and senior institutional consultant at Raymond James Institutional Consulting, has over 25 years of industry experience. Other members of the Handler team include Mariejoy Cabel, senior registered sales associate, and Amber Wilder, sales associate. Bank of America’s US Trust made a raft of hires across six US states from firms including Citi Wealth Management and BlackRock. Gina Lammey joined the Hartford, CT, office as a senior trust officer, having most recently served as an associate attorney at Scott B Franklin & Associates. Alexander Olson stepped into the Boston, MA, office as a private client advisor. He was most recently a registered representative at New York Life Insurance Company. Abraham Radmanesh joined the Kansas City, MO, office also as a private client advisor. He was formerly a senior vice president and western regional sales manager in the brokerage services group at Commerce Bank. Additionally, Louis Cuomo – latterly a financial advisor at Citi Wealth Management - was appointed in Glen Rock, NJ, as a private client advisor. Meanwhile, Morgan Stickler joined the Florham Park, NJ, office as a senior vice president and portfolio manager. He was previously a portfolio manager at BlackRock. Also in NJ, Michael Whittemore joined the Pennington branch as a portfolio oversight manager. He was most recently a senior portfolio manager at Prestige Wealth Management Group. In Oregon, Ronald Chaidez was hired in Portland as a private client manager, having previously worked at his own privately-held CPA firm, Stefani Chaidez. Lastly, William Cohen joined the Charlottesville, VA, office as a private client advisor. He was most recently an executive director at JP Morgan. Atlanta, GA-based, SEC-registered Advocacy Wealth Management named Justin Boller – latterly of Invesco - as chief investment officer. At Invesco, Boller was a portfolio manager on the firm's global equity investment team. He has 14 years of experience in the investment management industry overall. It is unclear if the CIO role is newly-created or if Boller replaced anyone. The TCW Group, a global asset management firm, appointed Jeffrey Engelsman as global chief compliance officer, based in Los Angeles, CA. It is unclear whether this is a newly-created role or if Engelsman replaced anyone. As CCO, Engelsman will be responsible for the development, oversight and assessment of the firm’s policies and procedures to ensure compliance with government and industry regulations across all jurisdictions in which TCW operates. He joined from New York Life Investment Management, where he was most recently a managing director and CCO for some 70 open-end and closed-end funds. Prior to New York Life, he served as senior counsel to Deutsche Asset Management, overseeing mutual fund governance, offshore fund governance and 1940 Act regulatory matters. In his new role at TCW, Engelsman will report jointly to David Lippman, president and chief executive, and Meredith Jackson, executive vice president and general counsel. US Bank appointed Dean Scheinert as a wealth management consultant and Christopher Wilkinson as vice president and wealth management consultant at its high net worth unit in Phoenix and Scottsdale, AZ, respectively. Scheinert joined the PCR from JP Morgan Chase Private Bank in Scottsdale, where he was an executive director responsible for client development and relationship management for ultra high net worth clients. Wilkinson has over 30 years of experience in investment management, private banking, risk mitigation, estate planning and administration for high net worth families, business owners and private foundations. He was previously executive vice president and chief investment officer at Finemark National Bank & Trust in Scottsdale. Wells Fargo Advisors recruited financial advisors Alison Scavone and William Bates in Westport, CT, from Morgan Stanley. At Morgan Stanley, they managed more than $348 million in combined assets and brought over 40 years of industry experience to WFA. Senior registered client associate Summer Gigliotti and client associate Jennifer Blair joined them. Raymond James appointed advisors James Switzer and Eric Cobb to Raymond James Financial Services, the firm’s independent broker-dealer, in Spartanburg, SC. The team operates as Switzer Cobb Wealth Partners, an independent firm, with securities offered through RJFS. The team joined Raymond James from Morgan Stanley, where they managed over $180 million in client assets and had annual fees and commissions in excess of $1.3 million. Switzer, managing director at Switzer Cobb Wealth Partners and Raymond James branch manager, began his financial services career at Merrill Lynch in 1990, later moving to Morgan Stanley in 2008. Kathy Coley, a registered planning associate and office manager, also joined the team. She spent 28 years with Merrill Lynch in Charleston and Spartanburg and joined the Switzer Cobb team at Morgan Stanley almost six years ago, where she was a portfolio associate. Fund-of-funds manager Northern Trust Alternatives Group made two senior hires. As director of portfolio strategy, Thomas is responsible for portfolio construction and the monitoring of funds-of-funds and custom programs. He is a member of the team’s senior investment committee and joined from Mesirow Financial in Chicago, IL. Jones meanwhile will look after the sourcing, due diligence and monitoring of macro, relative value, and commodity strategies across Northern Trust’s hedge fund program and joined from Cliffwater. United Capital Financial Advisers appointed Ryan Marcus – latterly of RBC Advisor Services - as director of new partnerships, based in New York. At RBC Marcus was senior vice president of business development for the RBC RIA custody unit. Prior to that, he spent three years at MarketCounsel, the business and regulatory compliance consulting firm, where he was senior vice president of national sales. In addition to his stint at RBC Advisor Services and MarketCounsel, Marcus was a consultant for RIA in a Box, as well as an advisor at Oppenheimer and Morgan Stanley. Marcus will report directly to Matt Brinker, senior vice president of partner development and acquisitions. He will be responsible for executing on United Capital’s acquisitions strategy and proprietary RIA business evaluations methodology. ACE Group boosted its high net worth personal lines insurance business, ACE Private Risk Services, with three senior appointments. Annmarie Camp was named as senior vice president of national sales and distribution leader; Shannon Detroit as vice president for the central region; and Heather Cabra as vice president for the southern region. Based in Basking Ridge, NJ, Camp will oversee the US distribution of ACE Private Risk Services’ products and services, including home, auto, watercraft, valuable collections and umbrella liability insurance through a network of independent agents and brokers. She will also continue in her role as group umbrella practice leader and report to Mary Boyd, division president of ACE Private Risk Services. Camp joined ACE Private Risk Services in 2009 as regional vice president for the Northeast. Meanwhile, Detroit and Cabra will oversee the local field marketing, underwriting, claims, risk consulting and agency services teams in ACE Private Risk Services’ central and southern regions, respectively. They will both report directly to Camp. Detroit joined ACE Private Risk Services in 2010 as territory manager for Washington and Oregon, while Cabra joined from a global personal lines carrier, where she spent over 20 years in senior regional management and distribution leadership roles. Mark Caplinger took over from William Greiner as chief investment officer of Mariner Wealth Advisors, as Greiner became chief investment strategist of Mariner Holdings. Greiner will drive the economic and capital markets outlook for both Mariner Wealth Advisors and Montage Investments, Mariner Holdings' asset management subsidiary. He will also continue to support Mariner Wealth Advisors with tactical asset allocation decisions. Meanwhile, with nearly three decades of industry experience, Caplinger specializes in developing recommendations on investment policy, portfolio design and implementation, and the execution of investment programs using traditional and alternative investment strategies. He will lead Mariner Wealth Advisors' investment committee and will manage the firm's strategic and tactical asset allocation policies, procedures and application. He joined the firm from Summit Strategies Group in St Louis, MO, where he was a senior vice president in the firm's consulting department. RBC Global Asset Management, the asset management arm of Royal Bank of Canada, appointed Clive Brown as chief executive and managing director of RBC GAM International as part of the firm’s global growth plans. In this newly-created role, Brown will be responsible for RBC GAM’s business in Europe, the Middle East, Africa and the Asia-Pacific region, excluding BlueBay Asset Management. Brown has over 30 years of experience in the financial services industry. He was previously at JP Morgan Asset Management, where he spent 21 years working in a number of roles - most recently as global chief operating officer and chairman of Asia, based in Hong Kong. Before this, he was chief executive of JP Morgan Asset Management International. He began his career in 1982 at Price Waterhouse, where he qualified as a chartered accountant. US Capital Advisors added to its ranks with the addition of Stuart Huckin as a managing director from Credit Suisse Securities, where he was a private banking relationship manager since 2010. Prior to Credit Suisse, Huckin was a financial analyst at a family office in Dallas, TX, office from 2003 to 2007. He works with ultra high net worth clients and family offices, advising them on investment strategies. He serves clients mainly as a fee-based advisor incorporating advanced portfolio management construction techniques, but also offers customized portfolio strategies with an emphasis on lower market volatility and high quality, dividend-paying companies. Additionally, USCA recruited John Howle in Dallas as a managing director. Howle was latterly a senior vice president of investments at Truth Capital Advisors of Raymond James and Associates. He has almost 30 years of experience as a financial advisor, institutional fixed income salesman and municipal bond trader with such firms as Barre & Co, Southwest Securities, May Financial Corporation and Raymond James. Advisor Software, a provider of web-based wealth management solutions for financial advisors, appointed Charles Brown as vice president of business development. Based on the East Coast, Brown will build client relationships with broker-dealers, registered investment advisors, multi-family offices, banks and other financial institutions. He will also help Advisor Software organize additional educational webinars - open to all financial services professionals. The firm's tools include, but are not limited to: the ASI Client Acquisition Solution®, a portfolio construction and proposal generation program; ASI Portfolio Rebalancing Solution®, the rebalancing application that can scale to “thousands of advisors through a single platform”; and goalgamiPro, a process for profiling clients and generating modular one-page, client-focused reports in less than 10 minutes. Brown joined from Windham Capital Management, where he was vice president of sales and new business development for three years. Earlier in his career, he was senior manager of the performance reporting solutions group at Informa Investment Solutions. California- and Florida-based Camden Capital appointed Kara Boccella as managing director and Devon Galindo as a client relations associate. Boccella has 25 years of experience advising legal professionals, business owners, entrepreneurs and high net worth families on wealth management, legacy planning and family office matters. She joined from KLS Professional Advisors Group, a subsidiary of Boston Private Financial Holdings and multi-billion dollar registered investment advisory firm headquartered in New York City. She worked at the firm for 19 years - most recently as managing director and member of the investment committee. Boccella believes the majority of wealth management firms do not focus on providing investment and planning advice tailored to high net worth legal professionals - a niche Camden has intensified its focus on. Thomas Montag is to become the sole chief operating officer at Bank of America as co-COO David Darnell assumes a new role so he can move to Florida. Darnell will serve as vice chairman while continuing to oversee global wealth and investment management, as well as business banking. Montag has split the COO role with Darnell since 2011 and going forward will still run the investment banking and capital markets businesses. Before his COO responsibilities, Montag was president of global banking and markets at BoA Merrill Lynch, having previously worked at Goldman Sachs for 22 years. Northern Trust Asset Management made a number of senior hires in recognition of growing demand for outsourced chief investment officer services. Patrick Groenendijk, a CIO in multi-manager solutions, joined Northern Trust from Pensioenfonds Vervoer in the Netherlands, where he was responsible for managing the transport industry pension fund with $19 billion in assets. James Hayes, formerly of Allstate Investments, and Tracey Nykiel, formerly with consultant R V Kuhns & Associates, also joined as client investment officers. Meanwhile, Nazneen Kanga, formerly of Morgan Creek Capital Management, joined as a solutions strategist focused on foundations, endowments and global family offices. Lastly, Kurt Zemaier, who was most recently with investment consultant Hewitt EnnisKnupp, joined as a pension risk strategist. Christine Galloway, president and chief executive of Okabena Company, the Minneapolis, MN-based wealth management firm for families and non-profits, is to retire at the end of the year. James Field, former president and CEO of The Northern Trust Company’s Minneapolis office, was named president of Okabena Company. Upon Galloway’s retirement, the company will have two leaders: Field as president and Douglas Neimann, current president and chief investment officer of Okabena Investment Services. Neimann manages the investment program for taxable and tax-exempt clients, while Field will oversee office financial services. Galloway, who has been at the firm for 21 years, confirmed to Family Wealth Report that the CEO role is not being maintained. “The responsibilities of the CEO are being assumed by the president of Okabena and the president and CIO of Okabena Investment Services. in a dual leadership role,” she said. Nashville, TN-based Truxton Corporation, a bank holding company and parent of Truxton Trust Company, appointed Brad Dunlavy as senior vice president and wealth advisor team leader. Dunlavy joined Truxton from KraftCPAs, having previously held wealth advisory and tax roles at Regions Bank and SunTrust. Portfolio manager Dawn Bitton joined BNY Mellon Wealth Management’s Denver, CO, office, as the firm continues its strategic push into the Denver-Rocky Mountain region. Bitton – latterly of ANB Bank Investment Management and Trust - replaced trust officer Michael Love, who retired from BNY Mellon last year. Before ANB, Bitton was a wealth strategist officer at Northern Trust. In her new post at BNY Mellon she reports to Rocky Mountain regional president, Tracy McCarthy. Shane Hiller re-joined Citi Private Bank as a director and private banker in San Francisco, CA, as the US-listed firm continues to grow in The Golden State. Hiller has over 20 years of experience working in the industry and returned to Citi from Umpqua Bank’s private bank division, where he was market leader for the San Francisco region. Prior to joining Umpqua, Hiller spent three years as a private banker at Citi in San Francisco, having previously been a senior vice president and financial advisor at Morgan Stanley Private Wealth Management. Earlier still, he spent some years as a private client advisor at Wells Fargo Private Bank. In his new role at Citi, Hiller reports to Lisa Roberts, head of Citi Private Bank in Northern California. Ben Pace, former chief investment officer at Deutsche Bank Asset & Wealth Management's multi-asset group, and eight members of DeAWM's portfolio consulting group, joined HPM Partners in New York. HPM Partners is a New York-headquartered independent investment and financial services advisory firm with additional offices in Chicago, IL; Cleveland, OH; Bloomfield Hills, MI; Los Angeles, CA; and Orange County, CA. In addition to Pace, David Jumper, Steve Kurosko, Lindsey Nadel and Larry Weissman joined as partners of the firm with investment associates Neza Bevc, Jessica Farrell, Patrick Murray and Quinn Portfolio. The Private Client Reserve of US Bank appointed Timothy Langbein as a senior private banker in New York. The PCR serves clients with at least $1 million in investable assets. Langbein joined from JP Moran Private Bank, where he was a vice president serving in wealth management roles including capital advisor and banker. His previous experience also includes financial planning, investment advisory and investment bank accounting. At the PCR, he specializes in personal and business lending, and deposit needs. Philadelphia, PA-headquartered Janney Montgomery Scott, the full-service wealth management, financial services and investment banking firm, hired Michael Lynfield in Fairfield, CT, as first vice president - investments. Lynfield was joined by Mike Kozik, an account executive, to form the Lynfield Kozik Investment Group. Lynfield has over 30 years of experience in the financial markets, working with institutions including hedge funds and banks in the US and Europe. He is latterly of Wells Fargo, where he was a senior vice president for 28 years. Kozik, meanwhile, has almost ten years of financial services experience and joined Janney from Wells Fargo Advisors. Financial advisor Barry Stern joined Raymond James Financial Services, Raymond James’ independent broker-dealer, in Westlake Village, CA. Stern is formerly of UBS Financial Services, where he managed more than $107 million in client assets and had annual fees and commissions of about $1.1 million. Kathleen Loretto, client relationship manager, also joined him. The team operates as Ocean West Wealth Strategies, an independent firm. Stern owned his own small business for four years before joining Merrill Lynch in 1983. He also worked at Prudential-Bache, Dean Witter/Morgan Stanley and UBS before joining Raymond James. Loretto joined Raymond James and Stern’s team in 2014, bringing more than 20 years of experience working with brokers and custodians as an investment analyst, portfolio administrator and operations assistant. Through Raymond James, the team provides services including financial, retirement, college and estate planning; 401 advising; insurance and annuities; and asset allocation. CTPartners, the New York-listed global executive search firm, appointed Kevin McKeon as a principal within its financial services practice, focused on asset management, wealth and alternative investment. McKeon, who is based in Boston, MA, has over 15 years of professional search experience recruiting senior leadership professionals into chief investment officer, heads of asset classes, portfolio management and research roles. Prior to joining CTPartners, he spent nine years within the asset management practices of Heidrick & Struggles and Sheffield Haworth. He also spent six years at Pyramis Global Advisors acting as the chief of staff for the investment division and overseeing recruiting for the division. Cultivation Capital, the St Louis, MO-based early stage venture capital firm, invested in Wealth Access, the high net worth personal financial management platform for advisors. Cultivation Capital can now offer Wealth Access' fund reporting service to its limited partner investors, who will also receive tax documents such as K-1s electronically. “The availability of K-1s through Wealth Access will dramatically speed up tax preparation for private equity investors, and limit the frustration of tracking down tax documents, a notoriously frustrating experience for investors in private equity,” Cultivation Capital said. Meanwhile, Wealth Access will add Cultivation Capital general partner, Rick Holton – who has experience working at Merrill Lynch - to its board of directors. Deutsche Asset & Wealth Management hired Carolyn Patton as a managing director and head of consultant relations for the Americas – a new role at the firm. Based in New York, Patton will report to Mark Bolton, global head of consultant relations. Regionally, she will report to J J Wilczewski, the newly-appointed co-head of the global client group, Americas, who is responsible for serving institutional investors. Patton has over 20 years of experience, having most recently served as an executive managing director and principal at Turner Investments, an employee-owned investment manager based in Pennsylvania. From 2005 to 2011 she worked at Janus Capital Group as global head of consultant relations, having previously worked at Morgan Stanley Investment Management in the Americas and Europe. Patton, who in her new role will form relationships with investment consultants in the Americas, was the latest strategic senior hire by DeAWM as it pushes to enhance outreach to institutional investors, expand its institutional product offerings and continue to build its overall market share in the Americas. BlackRock, the world’s largest listed asset manager, appointed a senior Canadian finance ministry figure and Canadian central bank governor, Jean Boivin, to the role of deputy chief investment strategist of The BlackRock Investment Institute, effective September 15. Boivin previously held the role of associate deputy director finance minister and G20, G7 and financial stability board deputy for Canada for the last two years. Prior to his most recent position he was the deputy governor of the Bank of Canada. The BII is a global platform of BlackRock designed to make use of its expertise across asset classes, client groups and regions. The institute produces information that is designed to boost performance of BlackRock’s portfolio managers. Bovin will be based in BlackRock’s London office. Eric Grodan – latterly senior vice president of trust and estate at Merrill Lynch – joined Abbot Downing in Los Angeles, CA, as a relationship manager. Grodan spent seven years at Merrill Lynch, providing investment advice and wealth transfer strategies for some of the firm’s wealthiest clients. Prior to Merrill Lynch, he was director of gift planning for the California Community Foundation. As well as working with Abbot Downing professionals in Los Angeles, Grodan will also work with the western region team that provides planning and family dynamics services, asset management, private banking, trust, fiduciary and administrative services. Toronto-based CIBC Asset Management appointed resource manager Scott Vali as vice president of equities and portfolio manager. CIBC said he will be lead manager for the CIBC Precious Metals Fund; the CIBC Canadian Resources Fund; the CIBC Energy Fund; and the Renaissance Global Resource Fund - all of which the firm acquired portfolio management responsibility for. Lawrence Smith, vice president of equity research and mining specialist, will co-manage the CIBC Precious Metals Fund while Brian See, vice president of equity research and energy specialist, co-manages the CIBC Energy Fund. Prior to joining CIBC, Vali was a vice president and portfolio manager at CI Investments. He has over 13 years of portfolio management experience, including a decade as a lead manager of major resource investment mandates. Chicago, IL-headquartered HighTower opened a fourth office in Florida office with HighTower Fort Myers, the 44th team to join the HighTower Partnership. The Fort Myers team – which works with high net worth individuals and families - is made up of Pamela Lynn Abraham, Jack Thomas and Trevor Swartz, who all join HighTower as partners. Abraham previously spent 33 years at Merrill Lynch, where she led Pamela Lynn Abraham & Associates, while Thomas and Swartz led Merrill Lynch’s Thomas & Swartz Global Wealth Management. The partners brought three colleagues: director and senior wealth management advisor Mathew Verrengia; senior registered associate Benita Alstatt; and client services associate Tiffany Likness. Aviva Investors made three hires in Chicago, IL, and another in Toronto. In Chicago, Kevin Mathews was appointed as a high yield portfolio manager. He joined from Scottish Widows Investment Partnership in New York where he was head of US high yield. Before that, he worked at F&C Investments in London as head of global high yield. Additionally, he was a high yield portfolio manager at: Gulf International Bank in London; ING Investments in Arizona; and Van Kampen Investments in Chicago. Also in Chicago, Lei Wang was hired as a senior securities analyst, joining from Morgan Stanley where she was a senior credit analyst. She has over 14 years of credit research experience, Aviva Investors said, having previously worked at Paulson & Co, Deutsche Bank and JP Morgan Asset Management. Additionally, Allen Xiao was brought in as director of business risk in Chicago. Allen is latterly of Ashland Partners and Company, where he was a senior compliance analyst and manager with roles in accounting, auditing, compliance and risk. Lastly, in Toronto, Robert Prospero joined as a credit analyst from Manulife Asset Management, where he was most recently a senior investment analyst. BNY Mellon appointed Michael Gordon to head up its newly-created retirement and strategic solutions group. Kim Mustin, BNY Mellon Investment Management's head of North American distribution, said the firm is looking to add non-traditional investment solutions to its current retirement offerings. Most recently, Gordon was managing director of non-traditional solutions and special situations for BNY Mellon Investment Management. In that role, he led - and will continue to lead - the Home Equity Retirement Solutions business, which plans to purchase, securitize and service reverse mortgages and provide advisory services to brokers, financial advisors and asset managers on how reverse mortgages fit into retirement planning. RBC Wealth Management appointed Roger Rath as a senior vice president and financial advisor in Annapolis, MD. Rath joined RBC Wealth Management from Janney Montgomery Scott, with 34 years of industry experience. He has more than $245 million in assets under management and $1.1 million in production. Rath specializes in retirement planning, wealth management planning, asset allocation and portfolio management. Maryland-headquartered New England Investment and Retirement Group appointed Les Satlow as senior portfolio manager and director of research. Also a member of the investment committee, Satlow is responsible for the administration and oversight of the firm’s investment strategy, process and policies – a role in which he will work with both advisors and the client service team. Satlow was previously a portfolio manager at Meredian Wealth Management as well as Cabot Money Management, having worked as an associated portfolio manager at Boston Advisors before that. Stier is also a vice chairman and partner with Deloitte in the US. He succeeded Stuart Opp, who died in April. Patrick Henry will succeed Stier as the leader of the Deloitte US investment management practice. “During Cary’s six-year tenure as the US firm practice lead, the investment management sector has been one of the fastest-growing practices within the US firm, expanding to now include four distinct client practice areas in the mutual funds, hedge funds, private equity and private wealth spaces,” said Chris Harvey, Deloitte's global leader of the financial services group. Stier will lead Deloitte investment management practices’ footprint globally and drive global strategy for Deloitte services in markets including Europe, Middle East and Africa, the Americas and Asia-Pacific. He will also continue to work with Jennifer Qin, who leads the investment management sector in Deloitte China’s Asia-Pacific region as part of the GFSI group in Deloitte China. Qin is the audit partner-in-charge for many private equity, venture capital funds and asset management clients in China. Prior to joining the Beijing office in 2008, she had 11 years of audit experience at investment banks and broker-dealers in Deloitte’s New York and London offices. In addition to his new leadership position, Stier will also keep his client focused role with the US member firm. Johnson Bank, part of the Johnson Financial Group, appointed Kevin Tan as chief investment officer – a new role at the firm. Tan will report to Daniel Kaminski, executive vice president of wealth for Johnson Financial Group. He joined from The Northern Trust Company and has over 26 years of experience in the financial services arena. “Wealth management is a growing and strategically important business line for Johnson Bank, we have recognized that the size of our wealth business and the investment needs of our client base necessitates we have a strong investment leader,” said Thomas Bolger, president and chief executive, Johnson Financial Group. RMB Capital, an independent advisory firm, promoted two of its senior wealth managers, Sue Christoph and Paul Joyaux, to partner-level within RMB Wealth Management. In 1999, Joyaux began working with RMB’s co-founders at a Fortune 500 investment firm before they left to start RMB in 2005. Joyaux and his current team of six are responsible for around 270 clients. Christoph, meanwhile, joined RMB in 2007, after running the asset management division at a public company and managing assets for large institutional investors. Christoph’s six-person team manages approximately 200 clients, who are primarily based in the Midwest. Jennifer Openshaw, a well-known leader in wealth management, women’s investing and consumer advocacy, was appointed as an executive director at the New York-based Financial Women’s Association. Openshaw is the second person to serve as executive director for the organization since it was founded in 1956. She succeeded Nancy Sellar, who served for nearly 30 years. Openshaw’s financial industry experience includes serving as press secretary in the California State Treasurer’s Office and in senior roles at Bank of America, Wilshire Associates and BankOne, where she was senior vice president of corporate marketing. She is best known, the FWA said, as the founder and chief executive of Women’s Financial Network, a financial services company created for women, which was later acquired by Wall Street legend Muriel Siebert. Openshaw most recently served as president of Finect, a social networking platform for wealth advisors and other financial professionals. US Bank appointed Patrick Woolfe as a portfolio manager at the firm’s Private Client Reserve in Chicago, IL. Woolfe will develop and implement investment portfolios for high net worth individuals and institutions. He has over 17 years of financial services experience in the areas of investment management, sales and relationship management. Most recently, he was a vice president and senior investments advisor at PNC Financial Services Group. Chris O’Neil and Joe Jaensen left Morgan Stanley to join the downtown Denver, CO, office of Wells Fargo Advisors. The team, known as The Denver Group of Wells Fargo Advisors, includes O’Neil as managing director - investments; Jaensen as senior vice president - investments; and Terri Lo Sasso as senior client associate. The trio previously worked at Morgan Stanley, where O’Neil practiced for over 30 years, Jaensen for 20 years and Lo Sasso for 25 years. O’Neil and Jaensen managed a combined $300 million in client assets. City National Bank, the private and business bank, expanded its Silicon Valley, CA, team, hiring two senior private bankers and a senior portfolio manager. Andre Luu joined as a senior vice president to lead private banking colleagues in San Jose and Palo Alto, CA, while Edwin Aquino joined in San Jose as senior vice president of private banking. Additionally, the bank also brought in Scott Mlinarich in San Jose as a senior portfolio manager for City National Rochdale, the firm's wealth management affiliate. Luu was latterly managing director within the private banking division at Union Bank, having previously been a senior private banker at Wells Fargo. He also has prior experience at global financial institutions in Singapore and Hong Kong, City National said. Meanwhile, Aquino previously served high net worth clients at Union Bank and before that held leadership and relationship management roles at financial institutions including First Bank, East West Bank and Wells Fargo. Mlinarich most recently worked at HighMark Capital Management as a senior portfolio manager in San Jose and prior to that spent 11 years at Wells Capital Management as a managing director in San Francisco, CA. City National entered the San Francisco Bay Area in 2000 and now has 12 offices in the region. In Silicon Valley, the firm has three branches – two in San Jose, and another in downtown Palo Alto, which houses its technology and venture capital group. Snowden Lane Partners, an independent, advisor-owned wealth advisory firm, appointed Robert Bowman, formerly managing director at Merrill Lynch in Philadelphia, as partner and managing director. Snowden Capital Advisors recently rebranded itself as Snowden Lane Partners in a drive to communicate its “partnership culture.” Bowman joined as a member of the senior executive leadership team and operating committee, focused on business development efforts nationally. Bowman spent 31 years at Merrill Lynch, starting out as a financial advisor and moving on to become regional director of the Mid-Atlantic Region , as well as national sales manager. Besides running numerous office complexes throughout the Mid-Atlantic region at Merrill, he was chairperson of the directors’ advisory council to management; sat on the firm’s product development committee; and coordinated the non-resident client segment for US wealth management. BNY Mellon Wealth Management promoted Patrick Crowe to national director of investment analytics, advice and solutions. Crowe will be based in New York, reporting to chief investment officer Leo Grohowski. He is responsible for delivering investment and advice analytics, helping the firm’s regional sales and portfolio officers develop and manage client wealth plans. Prior to this new role, Crowe was managing director for the New York Tri-State region of the wealth management group. A long-time BNY Mellon employee, he has also held other leadership capacities, including head of investment research and head of personal asset management. Chicago, IL-headquartered Ziegler, the investment bank and broker-dealer, hired Robert Moats as senior managing director and head of the firm’s wealth management business. He replaced Chris Zelesnick, who the firm said left three months ago. Moats, who became a member of Ziegler’s executive committee, has 30 years of industry experience working at Morgan Stanley and predecessor firms. He started his career at Shearson Lehman Brothers as a financial advisor in 1986 in Omaha, NE, ascending to a complex manager role in 2009 with Morgan Stanley in Chicago. Of note, the firm recently said it is ramping up its wealth management business, having made a number of hires in recent weeks and months across the US. Michigan-based Arbor Trust Wealth Advisors, comprised of four individuals from United Bank & Trust, joined Dynasty Financial Partners' platform of integrated wealth management services and technology. Financial advisors Charles Waterhouse, James Winslow, Carol Sewell and Gary Haapala collectively advise on over $350 million in client assets. Arbor Trust gained access to Dynasty's investment and technology platform, which leverages Dynasty’s investment committee and internal investment operations team. Dynasty’s RIA middle-office "Core Services" platform will provide turnkey marketing, CRM, financial planning, proposal support, and client reporting. Charles Schwab will provide primary clearing and custody services. Waterhouse, a partner and senior financial advisor, is the former chief executive of Guaranty Federal Savings Bank and chief financial officer of Arcadia Bank & Trust. Other past roles he has held include vice president and senior financial advisor at United Bank & Trust and vice president of the employee benefits trust office at Huntington Bank. At Arbor he heads up the firm’s investment committee and specializes in investment management, investment strategies and solutions development. Winslow, a partner and senior FA, leads Arbor’s financial planning efforts, with a focus on client management, financial planning, investment strategies and investment management. He is also a member of the firm’s investment committee. Winslow began his career at First of America Bank and has held other client management and wealth management posts at BR Chamberlain & Sons, Key Bank/McDonald Investments and United Bank & Trust, where he was a senior FA. Sewell, also a partner and senior FA, specializes in estate planning and estate tax law, and chairs Arbor’s fiduciary committee. Her seven years as an attorney at the law firm Koley Jessen were followed by six years as a senior vice president of trust administration at United Bank & Trust. Lastly, Haapala, a managing partner and senior FA, manages the operations of the firm and also provides strategic planning and wealth management advice. He too serves on the investment committee and the fiduciary committee. Haapala was previously president of wealth management at United Bank & Trust; region manager and vice president of the private client group at Fifth Third Bank; and group manager and first vice president of institutional trust at Comerica Bank. UK-based investment firm Invesco Perpetual hired Danielle Singer to its multi-asset team in New York. Singer joined as a senior client portfolio manager, representing the global targeted returns strategy across the distribution channels in the Americas. The team was created by David Millar – head of multi-asset – in early 2013 and now includes fund managers, Dave Jubb and Richard Batty, product director Georgina Taylor and risk manager Gwilym Satchell. Singer was previously a strategist and director of the global investment solutions team at UBS. Dave McKay joined Royal Bank of Canada’s board of directors as he becomes president and chief executive of the firm. McKay succeeded Gordon Nixon, who has retired from the board. Prior to being appointed as president on February 26, 2014, McKay was group head of the personal and commercial banking segment of RBC, which comprises RBC's personal banking operations and certain retail investment businesses in Canada, the Caribbean and the US, as well as RBC's commercial banking operations in Canada and the Caribbean. McKay's 26-year career at RBC includes senior roles in retail banking, risk management and international experience in corporate banking. Wilmington Trust hired Diane McNeal as senior private banker to oversee private banking services in Florida, based in Palm Beach. McNeal and her team provide lending, deposit, and cash management services, as well as other financial solutions to affluent individuals and families, and professional practices. She has over 35 years of experience in the financial services industry, having most recently been the alternate group manager for Florida private banking at Comerica Wealth Management. McLaughlin manages investment portfolios for HNW individuals, families, foundations and endowments, as well as providing asset allocation strategies and financial planning. McLaughlin has 25 years of experience in the investment and financial industry, including nine years at the PCR. Before that, she worked at Johnson Investment Counsel and Fifth Third Bank. Madeira replaces Francis Leto who was appointed as president and chief operating officer of the bank and corporation on May 1. Bryn Mawr Bank Corp previously said that on January 1, 2015, Leto will succeed Ted Peters as chief executive, following his retirement on December 31, 2014. Before joining Bryn Mawr Trust, Madeira was senior vice president of Brown Brothers Harriman & Co, responsible for managing client relationships and new business development. He also developed significant wealth management business for the investment units of the firm. Sheffield Haworth, the global executive search firm focused on the financial services sector, opened its fourth US office in San Francisco, CA, to serve clients on the West Coast. Paige Scott, who joined Sheffield Haworth in 2009 and is head of the North American asset management practice, will return to the West Coast to head the effort there while continuing to serve other clients across the US. Last November, Sheffield Haworth intensified its focus on the wealth management sector in the Americas with the addition of Jane Swan as managing director. Swan joined Sujan Melwani who transferred from Sheffield Haworth's Hong Kong practice to New York earlier in the year. Meanwhile, in January 2013 the firm acquired international wealth management recruitment firm Gibson Tullberg, a decade-old business with offices in London, Geneva and Singapore. Tim Sheffield, chief executive of Sheffield Haworth, said at the time that the deal was a critical step in expanding the firm's private wealth coverage. Financial advisors Matthew Rogers and Mark Norton joined Raymond James & Associates, the traditional employee broker-dealer of Raymond James, in Portland, ME. The Rogers Norton Wealth Management Group joined from UBS Financial Services in Portland, where they managed more than $200 million in client assets and had annual fees and commissions of about $1.9 million. Rogers began his career in 1991 at Fidelity Brokerage Services before becoming a financial advisor at Prudential Securities in New York. He joined UBS Financial Services in 1996, working as a senior vice president and senior portfolio manager in Portland. Norton, vice president of investments, began his 12-year financial services career as a quality analyst for J&W Seligman in 2002. He joined UBS Financial Services in 2006, where he worked as a branch analyst, vice president and portfolio manager in Portland. Adele Jacques, a senior registered sales associate, also joined the team, which specializes in managing family endowments and developing multi-generational financial plans. Focus Financial Partners, the US international partnership of independent wealth management firms, appointed Dan Sontag, a former long-time president of Merrill Lynch’s global wealth management unit, to Focus’ board of directors. The addition of Sontag brought the total number of Focus directors to seven; of those, six are independent and unaffiliated with Focus. Sontag’s most recent role at Merrill Lynch was head of global wealth management, overseeing all investment platforms, technology and operations support for the nearly 20,000 advisors in Merrill’s wealth management offices, private bank and international wealth businesses. Sontag joined Merrill Lynch in 1978 as an advisor in Colorado Springs. Pioneer Investments, the global asset management firm, named Lisa Jones as president and chief executive of Pioneer Investment Management USA, the firm’s US division. Jones will be a member of Pioneer’s global leadership team and will report to Sandro Pierri, CEO of Pioneer Investments. The departure of Jones, who replaced Daniel Kingsbury, followed a 15-year career at Pioneer, the last seven of which he spent as head of the US. Jones joined Pioneer Investments from Morgan Stanley Investment Management, where she was global head of distribution and president of MSIM Distribution, a position she left in 2013. Prior to MSIM, she was head of the global institutional division at Eaton Vance Management and spent more than 16 years at MFS Investment Management, holding leadership roles in the retail and institutional divisions. Pioneer’s US division has approximately $72 billion in assets under management and 560 employees including 79 investment professionals and a sales and marketing team of over 150. The board of New York-and Canada-listed CIBC selected its group head of wealth management, Victor Dodig, as the bank's next president and chief executive, effective September 15, 2014. Dodig, also senior executive vice president at CIBC, will replace Gerry McCaughey, who is retiring on September 15 this year. As group head of wealth management, Dodig is responsible for CIBC Wood Gundy, CIBC Investor's Edge, CIBC Private Wealth Management, Atlantic Trust and CIBC Asset Management, which includes CIBC's mutual fund company and investment management activities in Canada and the US. Dodig began his career working in CIBC's branch system as a customer service representative, later rising through increasing levels of responsibility at CIBC to lead the bank's retail banking distribution and sales team from 2007 to 2011. Prior to re-joining CIBC, Dodig was managing director and CEO in Canada for UBS Global Asset Management. Earlier in his career, he spent five years as managing director in Canada, the US and the UK for Merrill Lynch and Company, following three years as a management consultant at McKinsey and Company.
Fiedler will oversee existing liquid real asset products and strategies as well as develop new ones on a global basis.
Cobb, vice president with Switzer Cobb and a Raymond James financial advisor, also began his career with Merrill Lynch in 1996 and moved with Switzer to Morgan Stanley in 2008 to open the firm’s first Spartanburg office.
Tristan Thomas joined as director of portfolio strategy for hedge funds while Greg Jones was hired as an analyst.
He will be based in RBC GAM’s London office and will report to John Montalbano, chief executive of RBC GAM, effective October 1.
Deloitte Touche Tohmatsu, or Deloitte Global, the global tax, auditing, consultancy and financial advisory firm, appointed Cary Stier as the new leader of its cross-functional investment management group.
US Bank promoted Mindy McLaughlin to senior vice president and senior portfolio manager at its high net worth Private Client Reserve unit in Cincinnati.
Pennsylvania-based Bryn Mawr Bank Corporation named Harry Madeira as executive vice president and head of the wealth management division.