Charles Schwab has named Marie A. Chandoha president and chief executive officer of Charles Schwab Investment Management Inc., the investment advisor to the Schwab and Laudus Funds.
She was hired by Schwab in September as chief investment officer of Charles Schwab Investment Management, which managed nearly $190 billion in mutual fund and separate account assets as of Sept. 30. Before that, she was the global head of the fixed income business at Barclays Global Investors, which was acquired by BlackRock.
Before joining Barclays in 2007, she was co-head and senior portfolio manager in charge of the Montgomery fixed income division at Wells Capital, a senior bond strategist at Goldman Sachs, and managing director responsible for the global fixed income research and economics department at Credit Suisse First Boston.
Previously, Chandoha was a mortgage securities research analyst at Morgan Stanley and an economist at the Federal Reserve Bank of New York.
Chandoha will report to Schwab CEO Walt Bettinger. She replaces Randy Merk, who has taken a "special project" role at Schwab.
Condron Retiring From CEO Position at AXA
Christopher "Kip" Condron, president and CEO of AXA Financial, is retiring on Jan. 1.
Jacques de Vaucleroy will assume the responsibility for managing the AXA global life and savings and health business lines, while remaining CEO of the northern, central and eastern Europe region.
Mark Pearson will become president and CEO of AXA Financial and chairman and CEO of AXA Equitable Life Co. He is currently CEO of AXA Japan.
Replacing Pearson as AXA Japan CEO will be Jean-Louis Laurent Josi, currently CEO of AXA Gulf.
"On behalf of AXA's board of directors and management committee, I would like to very warmly thank Kip for his contribution to the group, most notably in his role at the helm of our U.S. operations," said Henri de Castries, chairman and CEO of AXA.
"Among the many challenges he has vigorously embraced over the decade, Kip was notably instrumental to the successful acquisition and integration of MONY, to the development of a culture of innovation, and the set up of our global business lines," de Castries added. "On a personal note, I would like to thank Kip for his advice and friendship and wish him all the best in his future endeavors."
Barclays Adds Eight, Continuing Hiring Spree
Barclays Wealth has ramped up its U.S. hiring spree with the addition of seven new investment representatives and a new regional manager.
The new appointments bring Barclays' total new adviser hires for 2010 to 50. Those seven hires will work from the firm's Atlanta, Boston, Chicago and New York offices. The firm has also named a new regional manager to its Palm Beach, Fla., location.
In the Boston office, Barclays has added James Egan and Michael Reiser, both as director and investment representative, and Ria Hart as vice president and investment representative.
Egan joins Barclays from Bernstein Global Wealth Management's senior investment adviser group, where he served as principal focusing on high-net-worth families. Reiser previously served as a managing director and chief investment officer for the northeast region at Wilmington Trust. Hart previously held positions at Bingham Legg Advisors, Brown Brothers Harriman and Wellington Management.
In New York, Barclays has named George Kolodka a director and investment representative. Kolodka most recently served as principal and senior advisor at Bernstein Global Wealth Management.
In Atlanta, Barclays has added Jamie Weeks and Hunter Hamm as investment representatives. Weeks previously worked with managed account, mutual fund and hedge fund sales in the southeast at UBS Global Asset Management. Hamm most recently served as a financial adviser in the private wealth management division at UBS Financial Services.
In Chicago, Barclays has appointed Michael Schwartz to the role of vice president and investment representative. Schwartz most recently led a team of advisers for business owners and high-net-worth families at JP Morgan Private Wealth Management.
In addition, Barclays has named John Cregan to the position of director and regional manager in Palm Beach, Fla. Cregan previously served as chief executive and portfolio manager at Chicago wealth management firm Hotchkiss Associates.
Barclays Wealth, with offices in more than 20 countries, had a total of $251 billion in client assets under management as of September 30.
Former Fidelity EVP Fiske Joins Envestnet as Director
Ron Fiske has joined Envestnet as managing director, strategic partnerships. He was previously executive vice president for product management and development at Fidelity Investments. While at Fidelity, Fiske also led the combined investment product management efforts for Fidelity Institutional Wealth Services and National Financial. Before that, Fiske was managing director for product management and development at Pershing.
At Envestnet, Fiske will focus on deepening relationships with key partners.