Industry

Morgan Stanley Smith Barney has snapped up two financial advisors from Credit Suisse and Merrill Lynch who previously had $575 million in client assets under management.

Greg Francfort, who most recently served as director of Neuberger Berman’s global equity research team, will be joining the firm’s MLG Group, which manages approximately $7 billion in assets for individuals, institutions and mutual funds.

Northern Trust lures wealth management executive Chris Wilkinson from RIA firm Private Client Group.

Global accounting firm Ernst & Young has expanded its West Coast asset management tax practice with four new hires.

Citi Private Bank has hired Robert “Todd” Martin from Wells Fargo to serve as managing director and ultra high net worth private banker in Houston.

The Investment Management Consultants Association has hired Jim Dobbs as director of education following his six-year stint as a certification consultant and program director for its Certified Private Wealth Advisor certification program.

Loomis, Sayles & Company has hired Jeffrey Schwartz to serve as the new co-manager of the firm’s small and mid-cap core strategies, including the Loomis Sayles Small Cap Value Fund.

Kitces is co-author of The Annuity Advisor, and is a contributor to Financial Planning magazine, as well as a string of major consumer publications.

Chairman and CEO of Fulton Financial, R. Scott Smith Jr., will retire at the end of the year. E. Philip Wenger, president and COO, will succeed him, effective Jan. 1, 2013.

Deutsche Bank’s Management Board is expanding the Group Executive Committee from 12 to 18 members, effective June 1.