Industry

Sean Foley has been promoted at fund administrator Butterfield Fulcrum and wealth management reporting firm FORS Limited to chief financial officer and chief administration officer.

Craig M. Lewis has been named chief economist and director of the Division of Risk, Strategy, and Financial Innovation at the Securities and Exchange Commission.

The unit of Bank of America Private Wealth Management said Wednesday that it hired Greg Khost as a managing director and regional executive in Florham Park, N.J., Donald R. Quattrucci, as a managing director and market investment executive in Rhode Island, and Nancy E. Anderson, as a senior vice president and private client advisor in Minneapolis.

After riding out some choppy storms in the middle and latter part of the last decade, registered independent advisors -- and their clients -- now stand ready to cash in on enormous growth opportunities as long as their willing to embrace new technology and communication mediums.

According to a survey conducted by TD Ameritrade, RIAs reported a 7% increase.

Bank of America has hired Morgan Stanley's chief information officer of enterprise infrastructure, David Reilly, away to be CTO of B of A's Global Wealth and Investment Management team.

Frank LaRosa, a senior vice president and office manager at Morgan Stanley Smith Barney’s Philadelphia branch has been terminated, a firm spokesman confirms.

The new recruits previously handled $1.5 billion in assets under management at Bank of America Merrill Lynch, Citi Private Bank, Morgan Stanley Smith Barney and Oppenheimer Holdings.

Myriam Soto and Douglas Schaenen will serve in new managing director roles, working to help expand BNY Mellon’s international wealth management business.

Shawn Liebel and Kevin Forney join Morgan Stanley from UBS, while Robert Coloret and Mark Delmar join from Ameriprise.