To streamline its SMA business, Smith Barney has named Paul Hatch director of managed accounts, a newly created position overseeing the company's Consulting Group and Portfolio Management Group.
Hatch, a Smith Barney veteran of nearly 20 years, previously served as COO of the firm's Consulting Group and supervised separate divisions formally known as Alternative Investments, Research Services and Portfolio Management Group, which manages assets for the Private Client Group. In his new role Hatch supervises Smith Barney's entire separately managed account operations, including third-party sales and private client assets.
Chris Davis, executive director of the Money Management Institute, called Hatch's promotion a positive measure aimed at strengthening the foundation of the SMA industry. "Paul is a terrific selection because he has the rare combination of understanding managed accounts and technology and operations, making him very important to Smith Barney and the industry," Davis said. "The real challenge for our industry going ahead is having the scalable operations to properly administer the coming tidal wave of assets, and Paul fully understands that."