Brown Brothers Harriman has appointed Daniel Greifenkamp head of mutual fund business development for the investment management business-charged with extending the momentum of its $43.5 billion proprietary mutual fund complex.
Griefenkamp, a 20-year veteran of the mutual fund industry, joins the firm as senior vice president, reporting to Partner Jeff Schoenfeld.
"Dan is joining investment management to lead our mutual fund business development effort at a crucial time, given the positive momentum of the business," Schoenfeld said. "He has an impressive track record of success, and we believe that he will have a meaningful impact on our business as we seek to continue to grow our investor base."
Greifenkamp comes to Brown Brothers from Abbey Capital, where he was director of business development. Previously, he was a partner at Artisan Partners, where he worked for nearly 13 years.
Of his new position, Greifenkamp said: "I am thrilled to join Brown Brothers Harriman. There is a tremendous opportunity for us to grow the business for the long term and continue the rich tradition of exceptional service that BBH has delivered for almost two centuries. I look forward to working with my new colleagues and our clients."
Miller Stepping Down As Legg Mason CIO
Legg Mason CIO Bill Miller will cede his position as chief investment officer of Legg Mason in April. Sam Peters will become CIO and take over as portfolio manager of the $7.4 billion Value Trust fund. Peters will also become lead manager on the Value Equity strategy. However, Miller will remain chairman of Legg Mason continue to run its Opportunities Trust.
"We have had a long and thoughtful transition process going back more than six years," Miller said. "We recognized Sam as a potential portfolio manager for the Value Trust when we hired him in 2005, then observed his steady hand during the 2008 financial crisis, and last year named him co-manager of the Value Trust for the purpose of succeeding me as sole manager.
"April 2012 is the right time for Sam to take over. I have managed the fund for 30 years and have worked closely with Sam since 2005," Miller continued. "Sam's passion for investing, his temperament, and intellectual curiosity will serve our clients well."
Raymond James Makes Appointments in IT, Ops
Raymond James announced several new appointments in both information technology and operations in what the firm said was a sign of the firm's "commitment to support its advisors" with leading technology and service.
Vincent Campagnoli was named senior vice president, head of Private Client Group technology strategy and development. He reports to Chet Helck, the firm's chief operating officer and head of the Private Client Group.
Prior to joining Raymond James, Campagnoli held senior positions at UBS Wealth Management Americas, Morgan Stanley and Prudential/Wachovia Securities.
Sateesh Prabakaran was appointed chief architect, heading key areas including architecture, enterprise data and database administration. Prabakaran was previously at BNY Mellon, where he served as chief architect and managing director.
Joe Meyer also joined the advisor technology support team at Raymond James, named to the new position of technology consultant. In his new role, he will help advisers evaluate the most appropriate reporting, planning, discretionary trading and CRM systems. Meyer was already working on technology within the firm, having worked with key Raymond James business units such as asset management, alternative investments, mutual fund research and compliance.
RBC Hires Two HSBC Advisers in New York
RBC Wealth Management has hired a two-member HSBC Securities financial advisor team in Watertown, N.Y.-Christine Cisco and Patrick Signor. Together, they previously had $170 million in client assets under management and $800,000 in annual fees and commissions.
Cisco began working for HSBC in July 2001, and was previously employed at MML Investors Services for several year. Signor joined HSBC starting in July 1996. Cisco and Signor, who operate under the name Cisco Signor Group, will work with Branch Director Cyril Mouaikel.
Cap Group's Lovelace Passes Away at 84
Jon B. Lovelace of The Capital Group passed away Wednesday at age 84. In 1951, Lovelace joined Capital Group, which his father, Jonathan Bell Lovelace, founded. Lovelace's legacy was turning Capital Group into a pioneer in international and emerging market investing, a team approach to fund management and longterm investing.
"For many of us, Jon Lovelace represents Capital," said Capital Group nonexecutive Chairman James Rothenberg. "His legacy is an organization of incredibly talented people, a unique approach to the investment challenge, and a culture that is broadly admired. He touched so many lives in so many positive ways."
Capital International Chairman Emeritus David Fisher, added, "He was an extraordinary and understated gentleman. His values have been the cornerstone of Capital, and I hope they will continue in the future."