Industry

A new leader at HighMark Capital Management, ramping up at Citi Private Bank, and more executive changes for the week.

WASHINGTON — The Federal Reserve Board and the other banking regulators finalized guidance governing executive compensation practices on Monday and announced its review of pay at the largest holding companies had turned up significant flaws.

JPMorgan Chase & Co. named a new chief financial officer Tuesday, part of an executive shuffle it said would help groom the company's future leaders.

Jefferies & Co. said Monday it hired Andrew M. Barish as a managing director and senior equity research analyst covering restaurant companies. Barish has over 20 years of industry experience, most recently at Cowen & Co., where he was a managing director for cosumer investment banking.

Maliz Beams, who was ranked one of the top 25 non-bank women in finance in 2008 by U.S. Banker, will be replaced by Edward Van Dolsen, who was named chief operating officer.

The hiring mill keeps grinding at the wirehouses, as MSSB adds two teams of advisors with combined client assets of more than $1 billion.

Citi Private Bank's private banking arm announced it hired Thomas Petrone as a managing director and head of capital markets for North America. Petrone, who will be based in New York City, will work on capital markets solutions for ultra high net worth clients.

Nomura Draws In Barclays, Credit Suisse Dealmakers

The breakaway broker phenomenon continues at Columbia State Bank, Tacoma, where the brokerage unit has hired three wirehouse veterans over the past six months, and the $5 billion-asset bank may not be done.

Bob Ellis, former president of Novarica, will develop an academic program on finance and investing for the school.