Bank of America Corp. announced Tuesday it hired Lisa Shalett as chief investment officer of Merrill Lynch Global Wealth Management and head of investment management and guidance.

Based in New Jersey, she will report to Kunal S. Kamlani, head of global investment solutions for Bank of America. Shallet was previously a partner and head of global growth equities at AllianceBernstein LP.

At AllianceBernstein, she led the investment services unit responsible for managing all growth-style equity mandates. She also provided strategic direction and business oversight for product platforms and portfolios across the firm's institutional, retail and private client channels.

Before that, Shalette was chairman and chief executive officer of Sanford C. Bernstein LLC.

At Merrill Lynch, Shalett will be responsible for investment strategy globally and will also run nvestment management and guidance's investment analytics and investment guidance teams, as well as the ultra-high-net-worth investment office, which creates institutional-caliber investment policies, asset allocation and portfolio solutions for ultra wealthy individuals.

U.S. Trust Continues to Hire Wealth Executives

The U.S Trust wealth management division of Bank of America Corp. continues pursuing its expansion plans nationally by adding six executives to its Northeast region.

The hirings came less than a week after 10 others were hired in its operations in California, Arizona and Washington.

The recent hires are part of U.S Trust's campaign to upgrade its services for ultra-high net worth clients, while expanding its place in the wealth management market.

"Today, affluent investors are more sophisticated, their wealth management needs are more complex," said Ann Limberg, Northeast division executive for U.S. Trust. "Meeting the needs of such investors in this environment requires us to have executives and advisers who are themselves highly experienced, deeply knowledgeable and fully committed to building strong client relationships."

The most recent appointments include:

Christopher Gunster, vice president and portfolio manager in Stamford, Conn. He will report to Brian Seidman, regional investment executive. Gunster has more than 20 years of experience working with wealthy individuals and institutional investors. He is responsible for providing customized wealth management solutions to HNW individuals and families in the area.

James F. Cear, a senior vice president and a portfolio manager based in the company's Melville, N.Y., branch will also report to Seidman. Cear was a former portfolio manager at Bank of New York Mellon. He brings more than 25 years of experience.

Jane Giaquinto, also based in New York, has been added as an SVP and private client manager to the team. Giaquinto joins the firm with 18 years of industry experience in investment analytics, relationship management, sales and marketing, and new product development. Now, she will report to Chris Dumont and be responsible for providing personal, customized services to the HNW. Before moving, she worked at JPMorgan in New York.

Andrea Carlin, a senior vice president and wealth manager for the company's Boston operation, will report to Brian Howard, private wealth management market executive for the region. Carlin has close to two decades of industry experience. Previously, she worked with Citizens Bank in Boston as vice president and senior portfolio manager. At U.S Trust, Carlin will deliver customized banking and investment services to such monied clients.

Jill Fopiano currently serves at the Boston operation as a senior vice president and private client adviser. She will be working with high-net-worth clients to address their planning and investment needs. Previously, she was with the Citi Private Bank in both Boston and New York.

John Rogers joins the firm as a senior vice president and a private client adviser, based in Boston and also will report to Howard. Rogers is responsible for developing and delivering wealth management needs to HNW individuals. Prior to the U.S. Trust move, he was a senior private banker with Brown Brothers Harriman & Co. in Boston for the past 10 years, where he planned and managed relationships with wealthy clients.

PIMCO Beefs Up Team with GSAM Alum Gordon

PIMCO has hired seven-year Goldman Sachs Asset Management (GSAM) veteran Maria (Masha) Gordon to help lead its emerging markets strategy team in its London location.

Gordon, the former GSAM managing director, portfolio manager and head of global emerging markets equity strategy, will join the Newport Beach, Calif.-based bond firm as an executive VP and emerging markets portfolio manger beginning in October.

Gordon's responsibilities have been assumed by Richard Flax, a 15-year veteran who first joined GSAM as a member of the emerging markets team in 2001 and has been a portfolio manager for the BRIC Equity Strategy since 2006, the firm said.

Neel Kashkari, managing director and head of new investment initiatives, said PIMCO is "delighted" to have such an outstanding portfolio manager as Gordon. Her hire, along with five other appointments marks the firm's attempts to build-out its equity offerings. "PIMCO plans to launch several active equity strategies in the next couple of years. Following the successful launch of PIMCO Pathfinder-a deep value strategy-emerging markets will be our next active equity strategy," Kashkari said.

Other recent appointments in the equity group include Rebecca Babin, a senior VP and equity trader; Steven Craige, a senior VP and PIMCO Pathfinder equity product manager; and Mark Cooper and Patrick Lawler, both SVPs, equity traders and members of the PIMCO Pathfinder team. All four will be based in New York. Additionally, Melissa Tuttle, a SVP and equity trader will join Gordon in the U.K.

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