Industry

The New York-based company hired Austin J. Philbin as a senior consultant of RIA services and Monique Miller as director of business management.

Principals of RIA firms need to pay closer attention to workflow and operational issues at their firms, especially if they want to stay viable amid rising operational costs, Pershing Advisor Solutions said.

The newly combined Boston-based RIA will have $2.5 billion of client assets.

Financial behemoth names new heads for Citigold Wealth Management and Citi Personal Wealth Management units.

Wells Fargo Advisors promoted John Peluso to president of First Clearing Correspondent Services, a registered broker-dealer and a non-bank affiliate of Wells Fargo & Co.

Linscomb & Williams, which has $2.7 billion in assets under management, hired Abigail C. Gunderson, Ryan L. Patterson and Lauren J. Bain.

Keith Hartstein, president and CEO of John Hancock Funds, will be retiring in September 2012 after 22 years at the firm.

Wells Fargo has named investment banking veteran Joseph Colianni head of banking of Abbot Downing, the company’s newly launched business catering to America’s wealthiest households.

On may 25, 2012, MME learned that Hancock Funds’ CEO is stepping down in September.

On May 24, Loomis, Sayles & Company hired Rowland “Chip” Bankes as its Head of Trading.