Week of March 11
Darryl S. Grayson was hired by Alpine Capital Research of St. Louis as a chief operating officer and national marketing director. He will oversee the firm’s marketing and sales efforts to the financial intermediary and institutional channels. Grayson was director of external distribution for Wilmington Trust.
Citi Private Bank [C] has hired Michael K. Smith as Midwest regional executive, and Mark Connally as its Southwest regional executive. Both were managing directors at Barclays Wealth, in New York City, where they were head of the Midwest and Southwest regions, respectively.
Fidelity Institutional Wealth Services, a unit of Boston-based Fidelity Investments, has promoted Scott Dell’Orfano to run its relationship management team. He was an executive vice president and head of sales. Fidelity also announced that National Financial, its clearing firm, has promoted Bobbi Masiello to vice president of relationship management. Masiello led the company’s strategic client relationship and emerging client management and sales segment.
Genworth Financial Asset Management in Encino, Calif., promoted Christian Hviid to chief marketing strategist, a newly created position. He was director of asset allocation, overseeing the asset allocation process for the firm’s discretionary, unified managed account programs.
Janney Montgomery Scott, which is based in Philadelphia, hired Anne Morse as a managing director to oversee its newly created healthcare municipal finance practice. She was a first vice president in the national municipal finance group at New York City-based Ambac.
Morgan Stanley Smith Barney [MS] has hired David S. Lynn as a financial advisor for its LaJolla, Calif., office. He was a financial advisor for Merrill Lynch Global Wealth Management, a unit of Bank of America [BAC], based in Charlotte, N.C.
Northern Trust Corp. [NTRS] in Chicago has named David McPhillips as director of consultant relations for the corporate and institutional services business unit in North America. He was a member of the transition management team of Northern Trust Global Investments, the asset management arm of Northern Trust.
Week of Feb. 18
Citi Private Bank [C], which is based in New York City, hired Roger Marment as director and head of its office in Greenwich, Conn. He was vice president and senior private banker at JPMorgan Private Bank [JPM], also based in New York City.
Hartford Financial Services Group [HIG] hired Brian Laubacker as its regional vice president of sales of the western United States, in its individual life insurance division. He managed the assisted sales division at Saybrus Partners, in Hartford, Conn.
Man Investments in New York City hired George Yepes as a managing director of North American sales and relationship management. He was a managing director at Gottex Fund Management.
David Hull has been promoted to managing director of the Palmieri-Ganley Agency, a Long Island, N.Y., based career agency unit of The Penn Mutual Life Insurance Co. of Horsham, Pa. He was a sales manager for the agency.
Timothy Schiltz was appointed senior vice president of SunAmerica Financial Group, a subsidiary of New York City-based American International Group [AIG]. He was a senior vice president of Wilmington, Del.-based American Life Insurance Co., and a member of its board of directors.
Week of Feb. 11
American International Group [AIG] hired Peter D. Hancock as executive vice president of finance, risk and investments. Hancock has spent his entire career in financial services, including 20 year at JPMorgan Chase & Co. [JPM], where he established its global derivatives group. Previously, Hancock was a vice chairman at KeyCorp [KEY].
Bank of New York Mellon Wealth Management [BK] has named David Emmes head of its west coast markets and Erich Smith head of its central markets. Emmes runs client service and sales covering California, the Pacific Northwest and Nevada. Smith oversees the wealth manager’s Colorado, Ohio, western Pennsylvania and Texas regions.
Boston Private Bank & Trust [BPFH] named Tracey Flaherty to its board of directors. Flaherty is a senior vice president of retirement strategy for Natixis Global Associates, where she is responsible for the development and execution of its retirement activities.
Collins Stewart, a New York City-based independent financial advisory firm, hired Anthony Dwyer as a managing director and chief U.S. equity strategist, which is a newly created position. He was an equity market strategist for FTN Equity Capital Markets.
Laird Norton Tyee of Seattle, promoted Robert J. Benson to chief investment officer. He was the firm’s investment strategy officer. Before joining the company in September, Benson was a senior consultant with Russell Investment’s Senior Consulting Group.
MICG Investment Management of Newport News, Va., hired Theresa Lamie as director of administration and operations. She was a control officer for UBS [UBS] in Virginia.
Thornburg Investment Management of Santa Fe, N.M., has promoted two employees to co-portfolio managers, Cliff Remily and Lon Erickson. Remily will co-manage the Thornburg Investment Income Builder Fund, along with Brian McMahon and Jason Brady. Erickson will co-manage the Thornburg Limited Term Income Fund with Brady. Remily was an equity research analyst at the firm, while Erickson was an associate portfolio manager.
Westwood Trust of Dallas hired Gregg Ballew as a senior vice president on its private wealth management team. He was a regional managing director of the Northern Trust Corp.'s [NTRS] wealth advisory group.
Week of Feb. 4
Baird hired Dennis B.G. Rowland as a senior vice president, to recruit financial advisors for and open a new wealth management office in St. Paul, Minn. He will also serve as the branch manager there. Rowland managed the Duluth and St. Paul, branches of Smith Barney.
Cambridge Investment Research of Fairfield, Iowa, promoted Ryan Reineke to senior vice president of operations and technology. He will run its brokerage operations, trading, development and technology, imaging and workflow. Jerry Oliver was promoted to vice president and chief financial officer, and will oversee its continuity partners group, which will address the challenges of acquisition and succession planning for independent RIAs. Reineke was a first vice president of technology and Oliver was vice president of finance and accounting, who also oversaw human resources.
Hartford Investment Management Co. [HIG] of Hartford, Conn., hired Joseph Darcy as an executive vice president and sector head of municipal finance. He will serve as a portfolio manager of The Hartford High Yield Municipal Bond Fund and The Hartford Tax-Free National Fund, along with Christopher Bade. Previously, Darcy spent 16 years at BNY Mellon Asset Management [BK].
Hawk Associates, a Key Largo, Fla, investor relations and financial media relations firm, hired Peter D’Agostino as a managing director and president of its research division, AMI Research. He will also open its New York office. D’Agostino, who started his career as an investment advisor for Axa Financial, was most recently a director at Sidoti & Co., an equity research company specializing in small-cap public firms.
Neuberger Berman Group [NEU] has appointed Jason Henchman as chief operating officer of its Asia-Pacific region, and Chris Gunns as head of consultant relations for the region. Both positions were newly created. Henchman was Legg Mason’s [LM] head of legal compliance for Asia-Pacific, excluding Japan. Gunns was the regional manager of institutional sales and business development at ING Investment Management [ING] for the Asia-Pacific region.
MassMutual’s retirement services division, which is based in Springfield, Mass., has appointed Dan Caple managing director of its south/central sales team, overseeing business development and sales support for North and South Carolina and Tennessee. He was a senior vice president and senior regional 401(k) director for Putnam Investments.
Morningstar of Chicago has appointed Hugh Zentmyer to its board of directors. He retired in December 2008 from Illinois Tool Works, where he was an executive vice president for the Glenview, Ill., company.
Weld North, a newly formed investment company based in New York City, hired Steven J. Berger as a vice chairman and chief financial officer. He was a founding partner of Richmond Park Partners, a London-based merchant banking firm.
Week of Jan. 28
Cannex Financial Exchanges of Toronto hired Gary Baker as president of its U.S. division. He was vice president of income solutions, for Massachusetts Mutual Life Insurance Co. of Springfield, Mass., where he facilitated the development of a retirement income strategy and helped develop new markets and products.
Steve Hayden, the chairman and chief creative officer of Ogilvy & Mather Worldwide, of New York City, has joined the board of directors of Chicago-based HighTower.
The Insured Retirement Institute hired Karen Alvarado as vice president of regulatory affairs, rounding out its first government affairs team. She was vice president and chief compliance article for Baltimore-based Aegon Insurance Group, a pension, life insurance and financial services industry group.
KBS Capital Markets Group of Newport Beach, Calif., announced that it promoted Hans Henselman to chief operating officer of affiliate companies KBS Capital Advisors and KBS Realty Advisors. Henselman is currently the parent company's chief compliance officer.
New York Life Investments of New York City has promoted Don Salama to the newly created position of chief strategy office overseeing mergers and acquisitions. Salama was head of New York Life Retirement Plan Services. Also, the company hired Drew Lawton as chief executive officer of New York Life Retirement Plan Services and a senior managing director at the firm. Lawton was a senior vice president at Boston-based Fidelity Investments, where he managed all investment-related functions for Fidelity's defined contribution businesses.
Russell Investments of Tacoma, Wash., announced it hired James Polisson as managing director of its global exchange-traded fund business, and Andrew Arenberg as its managing director of global ETF distribution. Polisson and Arenberg both worked at San Francisco-based Barclays Global Investors’ global iShares business, as chief marketing officer and managing director of its global eBusiness, respectively.
Securities America announced it named Dan Binn of San Mateo, Calif., Monte Marti of Cedar Rapids, Iowa, and Craig Rubrecht of Cornelius, N.C. to its 2010 Advisory Council. They join existing council members Steve Bryer of Richboro, Penn., Trudy Haussmann of Newport Beach, Calif., Karen Lee of Atlanta, Fla., John Linge of Orange Park, Fla., Scott Swander of Little Rock, Ark., Max Briggs of Palm Desert, Calif., David G. Hanson of Houston, Texas, and Thomas Reynolds of Oak Brook, Ill. Comprised of 11 members, Securities America selects the advisory council from among its top financial advisors. They serve on a three-year rotating basis.
Week of Jan. 22
Barclays Wealth in New York City has hired Anthony Valvo as a director and head of credit structuring, Americas. He was a senior credit officer at Citigroup in New York City.
The Boston Company Asset Management, a unit of Bank of New York Mellon Corp., hired Ra’ad Siraj as managing director of investment systems and data, a newly created position. He was head of operations for Sermo, of Cambridge, Mass.
Brown Brothers Harriman of New York City announced it appointed Andrew J. F. Tucker, who is a senior partner for the company, as head of its Asia Pacific business. He will move to Hong Kong, but continuing running its markets business.
Citi Private Bank, a unit of Citigroup, hired Tracey Warson as a managing director and west coast regional executive. Previously, she was a western division executive for U.S. Trust, Bank of America Private Wealth Management.
Great-West Retirement Services hired Ryan Derbes to be a regional sales director for parts of Florida and southern Alabama. He was a regional vice president of north and central Florida and southern Louisiana at ING.
Jackson National Life Insurance Co., a Lansing, Mich., unit of London's Prudential plc, promoted Muhammad Shami to the newly created position of vice president of investment systems. He was an assistant vice president at Curian Systems, a Denver-based unit of Jackson National.
Prestige Wealth Management of Flemington, N.J., hired Kathleen Boyle as director of client relations and communications. She was a marketing manager and senior business analyst at Dow Jones & Co., in New York City.
The Securities and Exchange Commission announced that Fredric Firestone, an associate in its division of enforcement who oversaw its investigation into the collapse of the auction rate securities market, will leave next month to become a partner at McDermott, Will & Emery. At the Washington law firm, Firestone will run its SEC defense practice. Before joining the SEC, Firestone was a judge advocate in the Navy.
Joe DiPaola was named president of World Financial Group, of Duluth, Ga. It also said that its current president, Jack D. Linder, was promoted to chief executive officer. DiPaola was chief agency officer for Transamerica Insurance & Investment Group of Cedar Rapids, Iowa.
Week of November 27
Chicago-based Brewer Investment Group named Mark Olson president and John F. Wallin senior vice president of national sales. Previously, Olson served as co-national sales director and chief operating officer of Allstate Financial Services in Northbrook, Ill.; Wallin served as president and chief marketing officer of GWG Advantage in Minneapolis.
Genstar Capital in San Francisco hired Hal Strong to serve as operating executive. Before taking the position at Genstar, Strong served as vice chair of Russell Investments in Tacoma, Wash.
Bryan Kozlowski joined New York-based Kasina as senior managing consultant. Kozlowski previously served as an associate director at Casey, Quirk & Associates in Darien, Conn.
The following individuals were elected to the 2010 board of directors of the Real Estate Investment Securities Association in Indianapolis: Richard B. Chess, of American Realty Capital Markets in Richmond, Va.; Patricia DelRosso, of Inland Real Estate Exchange Corp. in Oakbrook, Ill.; Mark Kosanke, of Concorde Financial Group in Troy, Mi.; Daniel Oschin of BGK Integrated Group in Santa Fe, N.M.; and William Swayne III, of WMS Financial Planners in Seattle.
Week of November 20
Merrill Lynch has hired John Smith, James Davis and Jeffrey Morse to join its Private Banking & Investment Group office in Chicago. The team comes from UBS where they generated $2.8 million on client assets of $504 million.
Janney Montgomery Scott has hired Sheila Shaffer, Shannon McGreevy and Daniel Spainhour to join its Washington, D.C. branch. The team comes from Morgan Stanley Smith Barney where it oversaw $255 million in assets.
J. Stephen Rowell, Jon S. Bolton, C. Scott Wray and E. Lee Cain have left Morgan Stanley Smith Barney to join Baird in Winston-Salem, N.C. They are joined by Jeff Trollinger, who comes from Valic Financial Advisors. The team previously oversaw a combined $267 million in client assets.
Timothy Daly has left Morgan Stanley Smith Barney to join Janney Montgomery Scott in Upper Saddle River, N.J. He previously oversaw $120 million in client assets.
Baird has recruited Denise Wypiszenski as its new chief operating officer of private wealth management. She previously was the chief operating officer at Morgan Stanley Smith Barney's western division.
Blake and Liane Jones have left Morgan Stanley Smith Barney for Janney Montgomery Scott in Washington, D.C. They previously oversaw $150 million in assets.
Week of November 13
John P. Ward has joined the Stifel Nicolaus Portland, Oregon office as Senior Vice President/Investments. Ward spent 27 years with AG Edwards/Wells Fargo specializing in fixed investments.
Seattle wealth management firm Laird Norton Tyee has added Dana Rekow and Robert J. Benson to the firm. Both previously with Russell Investments of Tacoma, Wash.
Gregory Francfort has rejoined Neuberger Berman as a managing director and director of equity research. In his new role, Francfort oversees the New York-based firm’s equity research effort, and joins David Levine as co-portfolio manager of the Neuberger Berman Focus Fund (NBSSX).
Week of November 2
Steve Dowden has been hired to serve as president and chief executive officer of INVEST Financial Corp. in Tampa, Fla. Before arriving at INVEST, Dowden served as senior vice president of distribution, and president and chief executive officer of CUNA Brokerage Services Inc., part of CUNA Mutual Group in Madison, Wis.
The Vanguard Group in Valley Forge, Pa., named F. Joseph Loughrey to the firm's Board of Directors. Loughrey is the former president and chief operating officer of Cummins Inc. in Columbus, Ind.
Woodbury Financial Services in Oakdale, Minn., has named Patrick McEvoy president and chief executive officer of the firm. Prior to arriving at Woodbury, McEvoy served as president and chief executive officer of Multi-Financial Services Corp. in Denver.
Karen Ogard has joined Denver-based Baird to serve as senior vice president in the firm's private wealth management business. Before arriving at Baird, Ogard worked as a managing director and investment officer for Wells Fargo Advisors, also in Denver.
Chicago-based Envestnet hired James Patrick to serve as managing director for the firm's Advisor Managed Programs. Patrick previously served as co-head of U.S. Distribution for Allianz Global Investors in New York City.
Week of October 23
RBC Wealth Management has nabbed a $2.3 million duo from US Trust/Bank of America. Rhonda Smith and Lynn Syler joined RBC's Gig Harbor, Wash., branch. They spent 11 years at US Trust and oversaw $450 million in client assets.
Baird has hired Karen Ogard to join its Denver office. She comes from Wells Fargo where she generated over $1 million on client assets of $150 million. Ogard spent 26 years with AG Edwards/Wells Fargo.
Mike Dwyer has joined RBC Wealth Management in Phoenix. He comes from Baird, where he oversaw $205 million in client assets and generated $1.7 million in fees and commissions.
Merrill Lynch has recruited Robert Debeer, Russell May and Glenn Duphorne to its Dallas office. The team joins from UBS, where they generated $2.4 million on client assets of $524 million.
Ed Muhlenfeld and Rob Huish have joined First Financial Equity Corp. in Scottsdale, Ariz. They come from Ameriprise where they generated over $1 million in annual revenue.
The Penn Mutual Life Insurance Co. in Horsham, Pa., named Thomas H. Harris senior vice president of the Independence Financial Network. Harris recently served as SVP for Prudential Service Brokerage in Newark, N.J.
Week of October 9
RBC Wealth Management's Phoenix branch has hired Mike Dwyer, who previously oversaw $205 million in client assets at Baird.
Edward Bernard, vice chairman of T. Rowe Price, is replacing John Murphy, chairman of Oppenheimer Funds, as chairman of the board of governors at The Investment Company Institute.
Karen Ogard, CFP, CIMA, has joined Baird as a Senior Vice President in the firm’s Private Wealth Management business. Ogard and her team of Kim Church and Veronica Manary are working from Baird’s new Denver wealth management office.
F. Joseph Loughrey has been named to the board of directors of The Vanguard Group and to the board of trustees of each of Vanguard’s mutual funds.
Uhlmann Price Securities, LLC, a FINRA registered broker-dealer announced that Alan Delcorse has joined the firm as a Director of the Institutional Services Group.
Week of October 2
Fidelity Investments in Boston appointed Gerard "Jerry" McGraw president of the institutional products group. McGraw previously ran operations and services for the group.
The following individuals were appointed to the national board of NAPFA: William Baldwin, chair; Samantha Macchia, treasurer/secretary; Lesley Brey, presidents' council; Mark Berg, education; Cindi Hill, membership; Susan John, industry issues; John Ritter, conference liaison; Ron Rhoades, region advisor community liaison; John Henry McDonald, NAPFA consumer education foundation liaison;Irene Leech, consumer representative; Rick Epple, Midwest region chair; Alan Schapire, Northeast/ Mid-Atlantic region chair; Cheryl Sherrard, South region chair; Scott Leonard, West region chair.
Kenneth D. Lewis, Bank of America’s chief executive officer and president, has announced his retirement to take effect at the end of 2009.
The Penn Mutual Life Insurance Company in Horsham, Pa., named Thomas H. Harris senior vice president of the Independence Financial Network. Harris recently served as SVP for Prudential Service Brokerage in Newark, N.J.
William C. Carey joined Oppenheimer Funds in New York City as head of distribution. Carey previously served as president of Fidelity's RIA and retirement services business in Boston.
Scott Custer announced he is stepping down as chief executive of RBC Bank next month. He is to be succeeded on Nov. 1 by his current boss, Jim Westlake, Royal Bank's head of international banking and insurance.
Robert McCann has settled his lawsuit with his former employer Bank of America/Merrill Lynch, clearing the way for him to possibly head up the U.S. brokerage arm of UBS.
Andrew Sieg moves to Bank of America/Merrill Lynch as head of global wealth and investment management retirement and philanthropic services, from Citigroup’s emerging affluent client segment.
Week of September 25
Doris Meister has joined BNY Mellon Wealth Management as its regional president for the New York area. As regional president, Meister will be responsible for sales, portfolio management and private banking in the Tri-State region and will report to Larry Hughes. Prior to joining BNY Mellon, Meister held a series of executive positions at such firms as Bernstein Wealth Management, Merrill Lynch, and Fleet Bank’s wealth management group.
Merrill Lynch has hired Vincent Condon and his partner, 29-year Paine Webber/UBS veteran Carl Cascella, to join its Southbury, Conn., branch. The pair comes from UBS where they generated $1 million on client assets of $227 million.
RBC Wealth Management has hired the $3.4 million team of Patrick Duff and Vincent Crudo to join its New Haven, Conn., branch. The pair comes from Smith Barney where they oversaw $340 million in client assets. The 19-year veterans of Citigroup/Smith Barney provide financial advice to high-net-worth businesses and individuals.
In Providence, R.I., John Licciardello, Charles Wharton and Joel Raskin, have jumped from UBS to Merrill Lynch. The team previously generated a combined $1.6 million on client assets of $207 million.
Tim Cowdrey has joined RBC Wealth Management to lead its Scottsdale, Ariz., branch. Cowdrey has 14 years of industry experience, including one year at Banc of America Investment Services and four years at Smith Barney. He will oversee 10 financial advisors and four support staff.
Howard Katz has left Morgan Stanley Smith Barney to join Merrill Lynch in West Conshohocken, Pa. He previously oversaw $209 million in client assets and generated $1 million in fees and commissions. Katz spent almost 28 years at Smith Barney.
Tom Weissenburger has joined Raymond James Financial Services in Clive, Iowa. He comes from SII where he generated $1 million on client assets of $140 million.
Merrill Lynch has recruited Jonathan Hungerford, Gary Duncan and Annette Proulx to join its Clemson, S.C., branch. The team comes from UBS where they generated a combined $1 million on assets of $117 million.
The Blackstone Group has hired Byron Wien as vice chairman of its advisory services unit. Wien comes from hedge fund Pequot Capital where he was chief investment strategist.
In Winston-Salem, N.C., Charles Pendergraft and Jason Lail have jumped from Wachovia to Merrill Lynch. The pair previously oversaw client assets of $98.9 million and generated $1.3 million in fees and commissions.
Week of September 19
Steven T. Condon, MBA, CFA was recently promoted to Managing Director at wealth advisory firm Truepoint Inc. Company founder, Michael J. Chasnoff will continue to hold the title of Chief Executive Officer and will be responsible for key client relationships, business development and strategic initiatives.
The Insured Retirement Institute announced the election of James A. Shepherdson, Executive Vice President of AXA Equitable, as its Chairman of the Board of Directors. Mr. Shepherdson replaces Mark Casady, Chairman and CEO of LPL Financial Services, who will remain on the IRI Board until the conclusion of his three-year term in 2010.
Week of September 11
Private investment firm Hirtle Callaghan announced the opening of its first New York office, naming former Goldman Sachs institutional sales specialist Randall S. Burkert head of the new bureau.
In a deal that creates the first financial services firm to be 100%-owned by a Native-American tribe, the Lower Brule Sioux Tribe acquired New York-based Westrock Group.
AIG Advisor Group’s back-office reorganization will result in a net loss of 24 positions at its three broker-dealer units: 62 positions are being eliminated due to functions being shifted to other locations, while 38 positions are being added at the new locations to support these operations.
Nicholas Stonestreet, the former head of private banking in the Southeast for Merrill Lynch, has been named as head of the private banking division of Birmingham, Ala.-based Regions Financial Corporation.
Duane Thompson, managing director of the Financial Planning Association’s Washington, D.C. office—and the organization’s lead lobbyist—is leaving the organization after 14 years.
RBC Wealth Management hired a $3.4 million team from Citigroup/Smith Barney’s institutional fixed income business: Patrick Duff and Vincent Crudo join RBC’s New Haven, Conn., branch.
Barclays Wealth has hired Marty Courage to serve as managing director and branch manager of its Boston office.
Week of September 4
Mark Newman has left JPMorgan Chase to join Morgan Stanley Smith Barney in Short Hills, N.J. Newman previously oversaw $185 million in client assets and generated $2.6 million in fees and commissions.
Douglas Mance has joined RBC Wealth Management's branch in Tucson, Ariz. He comes from Merrill Lynch, where he spent his entire 28-year career. Mance previously generated over $600,000 on client assets of more than $150 million.
Erik Littlejohn has jumped from Morgan Stanley Smith Barney to UBS. He joins the firm's Private Wealth Management office in Houston. Littlejohn previously generated $1.5 million on client assets of $247 million.
RBC Wealth Management has hired Tim Cowdrey as branch director of its Scottsdale, Ariz., office. He has 14 years of industry experience, most recently at Banc of America Investment Services.
Deutsche Bank Alex. Brown has recruited Shawn Sullivan to its Boston office. He has 17 years of industry experience, most recently at UBS.
Janney Montgomery Scott has recruited Gary Rooth to its Raleigh, N.C., branch. He comes from Smith Barney, where he oversaw $140 million in client assets.
Bill Stewart joined Janney Montgomery Scott in Philadelphia from Smith Barney where he oversaw $110 million in assets.
Ask the Experts is an educational video series, hosted by Financial Planning that features an engaging Q&A with financial and retirement industry experts. This series, sponsored by Guardian, addresses questions and discusses how financial planners can succeed in today's 401(k) marketplace, including small-market needs, strategies, service and support as well as resources. Watch these videos to learn more.
Check out Guardian's additional resources:
> Large Plan Services for Small Plan Clients
> Help Plan Sponsors Understand their Fiduciary Responsibilities
> Learn More about Guardian Retirement SolutionsTM