Industry

Giant financial institutions and wirehouses that spent fortunes attracting and retaining top-producing brokers and wealth managers over the past few years may be about to get socked with a big wave of departures this year and, especially, in 2012.

Former Morgan Stanley Smith Barney Complex Manager and Senior Vice President Frank LaRosa’s public records have been updated with details of an investigation into alleged spending violations following his sudden discharge from the firm in May.

Jefferies Group this week tapped Clifford Lanier as its new managing director and head of fixed income cross product sales.

American Century Investments has hired Peter Cieszko as senior vice president. In this newly created position, Cieszko will be responsible for all institutional and intermediary sales in North America, including wirehouses, regional and independent advisors, banks, insurance companies, corporate and public pension plans, endowments and foundations. Reporting to Michael Green, head of global client relationships, Cieszko will join the company later this summer.

Northern Trust has hired R. Peter Sanchez to serve as chief executive officer of Northern Trust Hedge Fund Services, upon the closing of Northern Trust’s acquisition of hedge fund administrator Omnium. Sanchez currently is global head of business development and client service at Omnium and has more than two decades of experience in capital markets.

American Century Investments has hired Peter Cieszko as senior vice president. In this newly created position, Cieszko will be responsible for all institutional and intermediary sales in North America, including wirehouses, regional and independent advisors, RIAs, banks, insurance companies, corporate and public pension plans, endowments and foundations. Reporting to Michael Green, head of global client relationships, Cieszko will join the company later this summer.

Gene Gohlke has retired as associate director for examinations in the Securities and Exchange Commission’s Office of Compliance Inspections and Examinations after more than 35 years of public service at the SEC.

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.

Chuck Gariboldi has joined U.S. Bancorp Fund Services as vice president and fund operations manager, in charge of daily operations in the fund accounting division. Gariboldi will also work with other divisions of the company to ensure accounting operations and policies meet evolving client and industry trends.

National Advisors Trust revamps its board of directors with a trio of new members and the appointment of a new chairman.