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Merrill Lynch Wealth Management has tapped Ashvin Chhabra to serve as chief investment officer and head of Investment Management and Guidance.

UBS promotes regional director John Mathews to help capture growth in the ultrahigh-net-worth market.

Former ICI President David Silver Dies

Robert Sharpe joined Heartland Advisors in the role of co-portfolio manager of the International Value Fund (HINVX), which invests in smaller equity dividend-payers in developed and emerging markets.

The Louisville, Ky., firm picked up two advisors with a total of $200 million in assets.

Elise Fortin, a former executive of Wells Fargo Private Bank, will be responsible for leading Umpqua Private Bank’s expansion in the Puget Sound region.

Neuberger Berman has hired 22 emerging markets debt (EMD) investment professionals, 19 of whom have joined the firm from ING Investment Management, where they managed over US$16 billion in EMD assets.

Gerald Rixie, the former CFO of Calamos Family Partners, joined the Private Client Reserve as a wealth management consultant.

BMO Global Asset Management has named John Boritzke, managing director, as head of fixed income.

Madorie O’Hara, a former Citi Private Bank portfolio manager, will manage investment portfolios for Webster’s private banking clients. She will be based in Stamford, Conn.

Within a decade, only about 150 large, profitable wealth management firms will dominate wealth management, according to a new forecast co-authored by Mark Hurley, chairman and CEO of the Fiduciary Network.

Merrill Lynch’s ultra high net worth business, the Private Banking and Investment Group, has snapped up two Morgan Stanley Private Wealth Management advisors in Houston, Texas.

American Century Investments has named former BlackRock/Barclays Global Investors executive Vinod Chandrashekaran senior vice president and director of quantitative research.

T. Rowe Price Group has no immediate plans to begin offering active exchange-traded funds, the Baltimore Business Journal reports.

Pacific Investment Management Co. is becoming less dependent on Bill Gross, preparing for an eventual future without the world's best-known bond investor and adding pressure on its rising stars to live up to his legacy.

Morgan Stanley has hired three advisors from Deutsche Bank, Merrill Lynch, and Wells Fargo who combined for more than $3.2 million in production.

Atlanta-based RidgeWorth Investments has hired Ian Bachrach to fill the role of Managing Director of Marketing, responsible for all aspects of RidgeWorth’s marketing.

The addition of four legacy Morgan Keegan advisors in Austin marks renewed hiring momentum, according to the firm’s director of retail.

The majority of Wells Fargo’s hires hail from Morgan Stanley, while one advisor joins from Edward Jones.

Russell Golden was named as the next chairman of the Financial Accounting Standards Board, effective July 1, 2013.