Industry

UBS Wealth Management hired Alexander S. Friedman as chief investment officer, while also filling out his team with former White House staff staffer Mona Sutphen and alternative investment manager Mark Haefele.

Pahnke and his team, the Pahnke Wealth Management Group, join from Robert W. Baird.

T. Rowe Price has named Scott B. David director of third party distribution, charged with overseeing distribution, sales and marketing and expanding and deepening the company’s relationships with financial intermediaries in the U.S.

Great-West Retirement Services has hired Adam Blitz as regional sales director for Long Island, a newly created position in which he is responsible for developing 401(k) plan business through brokers, financial advisers, consultants, wirehouses and third-party administrators.

Financial advisors are turning their backs on traditional wirehouses, bank brokerages and independent broker-dealers at rapid pace, according to a new report from Charles Schwab, opting instead for a hybrid model that allows them to serve as both an RIA and a registered rep and expand their pool of potential clients.

The Boston fund company named D. William Kohli, Michael V. Salm and Paul D. Scanlon co-heads of fixed income.

UBS has hired Louise F. Gunderson as a new managing director of investments for its midtown New York office.

Northern Trust announced Thursday it reached an agreement to buy the fund administration, investment operations outsourcing and custody business of the Bank of Ireland Group, Bank of Ireland Securities Services.

Advisor-owned firm HighTower has expanded its advisor force with the addition of four Merrill Lynch veterans in Portland, Maine.

The St. Louis brokerage company continues to its slow-but-steady growth with new addition in Connecticut.