Industry

A dire diagnosis will drive many people into an advisor's office, whether to free up cash for treatment, finally confront the need for an estate plan or update an existing one.

Dave Schrohe joined UBS as chief operating officer of its wealth management solutions team. He came from MSSB's corporate client group.

Edward Plotkin is the new vice president of wealth management services at NB|AZ Wealth Management, part of the National Bank of Arizona.

Tony Davidow is the newly appointed managing director and portfolio strategist at Rydex|SGI.

The Depository Trust & Clearing Corporation said Tuesday it plans to add a chairman of the board, with separate duties from that of its chief executive officer, Don Donohue.

Cieszko to be replaced by a report as interim distribution head.

Peter Cieszko, president of Fidelity Investments Institutional Services, the distribution arm of Fidelity, is leaving at the end of the year to “pursue other opportunities,” Vin Loporchio, a company spokesman said.

The Delaware company, currently in an acquisition deal with M&T Bank, added three senior wealth advisors from Boston Private.

While 2010 represented a modest improvement for mergers and acquisitions, the market for initial public offerings surged back to life, as domestic IPO activity eclipsed the previous two years, according to a report from PricewaterhouseCoopers.

The business-cycle recovery in the global economy that began in the summer of 2009 is now an expansion, says MSSB.