• wblogo
  • wblogo
  • wblogo

Summary Of North America Moves In Wealth Management - January 2019

Editorial Staff, April 15, 2019


The New Year got off to a brisk start around hiring and moves in the North American wealth management sector.

JP Morgan’s wealth management client business head, Barry Sommers, has retired after being at the US banking giant since 2008. Sommers joined JP Morgan when it bought Bear Stearns, where he worked. Sommers went on to run the Chase consumer bank and build its wealth management business. 

David Frame, global head of client advice and strategy, became chief of US wealth management, and reports to Edoes. Frame has been at the bank for more than two decades in a variety of roles, such as being global head of capital markets solutions. 

Andrew Cohen, who runs the international private bank at the moment, took on a new role as executive chairman of wealth management, based in London.  

Nicolas Aguzin took on Sommers’ international private banking responsibilities. Aguzin had been head of banking for Asia-Pacific at the corporate and investment banking arm. Aguzin worked in multiple regions, including being CEO of JP Morgan in Latin America. Filippo Gori became deputy chief executive of Asia-Pacific.

Sol Gindi, chief administrative officer of the consumer bank, became CAO for wealth management globally, overseeing the bank’s technology, operations and service initiatives. Brian Carlin continued as CEO of wealth management solutions, taking on day-to-day responsibilities as head of investment solutions. 

Russell Investments said Peter Gunning remained as global chief investment officer, a role he held on an interim basis from October 2018. He is based at the firm’s Seattle, Washington, headquarters. Gunning oversees investment business worldwide, including asset management, implementation and research. He reports directly to CEO and chair Michelle Seitz. He started at Russell’s Sydney office in 1996, serving as global chief investment officer at the US headquarters between 2008 and 2013, and had been CEO for Asia-Pacific since 2013. Before that, he worked in portfolio management and as a financial markets economist and a fixed-income options trader. He holds a master's degree in economics from the University of Sydney.

Alex Brown, a division of Raymond James, brought in client advisor John-Peter “JP” Rockwell Curcio in Atlanta. Prior to this, Curcio was at AB Bernstein where he previously managed approximately $110 million in client assets. He has been in the financial services industry for 22 years.

SunTrust’s private wealth management team named two new managing directors and advisors, Nathan Chapman and Laura Ryan, serving the Dallas area. Ryan has more than 25 years of experience. Prior to joining SunTrust, she worked with JP Morgan for 23 years. Chapman brings over 15 years of private wealth and capital markets experience to his new role. He also served at JP Morgan before joining SunTrust.

LPL Financial appointed Dayton Semerjian as chief customer care officer, leading its service, trading and operations organization. Semerjian fills a similar role previously held by Tom Gooley, who retired in March. Semerjian has more than 30 years of professional experience. Prior to this, he worked at CA Technologies. Most recently, he was general manager and senior vice president, global customer success. He joined CA Technologies in 2005 as part of that firm’s acquisition of Concord Communications. Prior to CA Technologies, Semerjian held a variety of leadership roles at Intel Corporation, Nation Street, and Corente (now Oracle). Semerjian graduated from the University of Massachusetts with a bachelor of business administration in 1988. He received his MBA from Harvard Business School in 1996.

CIBC Private Wealth Management added five professionals to its teams in the US. Stacey Gray wa named managing director and portfolio manager in Birmingham, Michigan, responsible for managing investment portfolios for institutional and high net worth clients. Gray has more than 25 years of experience and. Previously, she was a trust advisor and relationship manager for Comerica Bank, overseeing the administration for special needs trusts. Before that, she was an investment portfolio manager for Huntington Bank.
Tim Hocevar was appointed managing director and private banker in Milwaukee, working with high net worth individuals and families on a wide range of banking matters, including complex credit and cash solutions, while also focusing on financial planning and best practices to preserve, manage and transfer wealth for current and future generations. Hocevar has 18 years of experience and, prior to joining CIBC, he held private banking positions with both BMO Wealth Management and US Bank Wealth Management.

Luis Iraheta was named managing director and market manager in Washington DC and joins the firm with 14 years of financial industry experience. Prior to joining CIBC, Iraheta was a vice president and senior private banker at Wilmington Trust. 

David Moody was named senior vice president in Dallas, with 10 years of financial industry experience. In this role, he fosters new and existing relationships with high net worth clients, family offices, foundations, endowments and key intermediaries. Prior to joining the firm, Moody was a vice president and wealth director at BNY Mellon, where he helped lead the M&A practice in Texas and worked closely with business owners preparing to enter liquidity events.

Amanda Regnier was named vice president and senior wealth strategist in New York, working closely with relationship managers to develop and implement charitable estate and wealth transfer management planning for clients as part of the firm’s integrated wealth management process. Prior to joining CIBC, Regnier was an associate wealth strategist at US Trust, where she guided high net worth and ultra-high net worth clients in all aspects of wealth planning.

Fiduciary Trust Company appointed Jennifer Joyce, CFA, as vice president and investment officer. Joyce previously worked at Brown Advisory where she was a principal, client advisor, and associate portfolio manager. Prior to that, she was a VP at Goldman Sachs and has also held positions with BlackRock, AllianceBernstein, and Geneva Global. She is a member of the CFA Society Boston and the Chartered Financial Analyst Institute.

Regal Wealth Advisors, a firm which previously worked with Kestra Financial, switched to the broker-dealer and RIA platforms of LPL Financial. Regal oversaw about $350 million of client money. The firm consists of four financial advisors: Michael McCarthy, Andrew Pincus, Gregg Gottlieb and Fred DaVeiga, each holding the CFP® certification and having 20-plus years of experience. They operate from New Jersey, South Carolina and Florida.

US Trust, Bank of America Private Wealth Management named three new market executives in Tennessee, Southern Connecticut and Upper New England.

Tennessee became a standalone US Trust market, led by new market executive Tiffany Eubanks-Saunders. In this role, Eubanks-Saunders leads the efforts to grow US Trust business in the region, focusing on high net worth families, institutional clients and prospects throughout Tennessee and Kentucky. She has been with Bank of America for over 25 years, and will be based in Nashville, Tennessee.

Emily Dreas joined as the ME for the Southern Connecticut market. Dreas joins from Fiduciary Trust Company International where she was an executive vice president and global head of client development in New York responsible for building out the business development function. She is based in Greenwich, Connecticut.

Kathleen Auth was promoted to ME for the Upper New England market. She joined Bank of America in 2004, and most recently served as a market manager in Bank of America’s Business Banking group. She is based in Boston.

Canada’s BMO Financial Group named Kristi Mitchem as chief executive of its global asset management arm, filling a slot left by Richard Wilson, who retired after being in post since 2014. Mitchem reports to Joanna Rotenberg, group head, BMO Wealth Management. Prior to this, Mitchem was chief executive and head of Wells Fargo Asset Management, where she led 28 investment teams with about $500 billion in assets under management. She has also worked at State Street Corporation, BlackRock, and Goldman Sachs.  

Argent Financial Group named Michael S Nutter as senior vice president and wealth advisor, based in the Argent Trust Company office in Dallas. Nutter reports to Argent Trust Company Dallas market president Linda S Baker. With more than 45 years in the fiduciary wealth management area, Nutter most recently served as regional manager for trust administration with Frost Bank. Before that, he was trust team leader for Chase Bank and JP Morgan Private Bank. Nutter graduated from Michigan State University in 1970 with a bachelor’s degree in business administration.

Argent Trust Company named Sidney O Roebuck as senior vice president/trust officer in its Birmingham office. Roebuck, who reports to Ken Alderman, president of Argent Trust, is responsible for managing personal and charitable relationships. Prior to this, Roebuck worked at Regions Bank, where he provided trust services for more than 40 years. For the majority of his career at Regions, he worked in the bank’s private wealth management division, where he was the manager of the Birmingham Trust Department.

RBC Wealth Management brought a new team into its Edina, Minnesota office. The Opp Kozlak Wealth Management Group comprises Peter Opp, senior vice president - financial advisor, who joins with more than 25 years of industry experience; Joel Kozlak, CPWA®, CRPC®, senior vice president – financial advisor, who has over 30 years of experience; Jessica Wright, financial advisor, who has 18 years of experience, and Christina Jamnik, senior registered client associate.

Rockefeller Capital Management brought wealth advisory teams serving ultra-high net worth clients to its business in Atlanta, Georgia. The Higgins Hall Group and The Embleton Curtis Quackenbush Group joined from Merrill Lynch. The Higgins Hall Group, founded and led by David P Higgins and Michael P Hall, is a team of seven professionals who have joined from Merrill Lynch’s Private Banking & Investment Group. The Embleton Curtis Quackenbush Group, a team of eight, joined from Merrill Lynch Wealth Management. This group is led by John F Embleton, William C Curtis, P Schuyler Quackenbush Jr and Evan B Georgiou.

Melissa Cheong, a former family office’s chief investment officer, became a managing partner of Blackhorn Ventures, a US venture capital firm specializing in early and growth stage industrial efficiency-focused technologies. Cheong previously served as CIO at Denver-based Zoma Capital, the family office of Ben and Lucy Ana Walton. In her new role at Blackhorn Ventures, she splits her time between investing and supporting the growth and development of the broader Blackhorn platform.

In addition to her most recent role at Zoma, Cheong also held positions as an advisor and investor with Treehouse Investments, Imprint Capital, Plainfield Asset Management, Metzler Bank, and Deutsche Bank. Cheong holds an MBA from Columbia Business School in New York, and a BA in political science from the University of Chicago.

Argent Financial Group, which provides wealth management and other services across the South, opened a new office for its trusts business to serve the Jackson metropolitan market. This office is represented by vice president and trust officer David Russell, who has more than 34 years of experience in the wealth management industry. Russell joined Argent Trust Company in April and was based in Nashville. He was previously a senior vice president and relationship manager for Pinnacle Trust in Madison. 

He has been active in the financial and estate planning community of Jackson since returning to Mississippi in 1994. Russell is also a Certified Senior Advisor™. In 2012 he authored the book, What You Need to Know: The Adult Child’s Guide to Becoming an Effective Financial Caregiver.

Argent Trust Company appointed Sidney O Roebuck as senior vice president/trust officer in its Birmingham office. Roebuck reports to Ken Alderman, president of Argent Trust. Roebuck is responsible for managing personal and charitable relationships. Prior to this, Roebuck worked at Regions Bank, providing trust services for more than 40 years. For most of his career at Regions, he worked in the bank’s private wealth management division, where he was the manager of the Birmingham Trust Department.

Admiral Capital Group appointed Minnie Allison, formerly of Goldman Sachs, JP Morgan and most recently Matthews Real Estate, to join the $1.6 billion investment management firm’s Dallas, Texas office. Allison concentrates on asset management across Admiral’s multifamily, office, retail and hospitality assets, and also lends her expertise to support the firm’s acquisitions efforts.

Vanderbilt Financial Group, the firm employing environmental, social and governance tests for driving investment, promoted team member Megan Plapp to the position of chief financial officer. Plapp has been a Vanderbilt team member since 2017. She has more than 18 years’ experience working with or leading financial management and accounting teams. She attended SUNY Oneonta, graduating with a bachelor’s degree in accounting and a dual minor in finance and business communications. Prior to joining Vanderbilt, Megan worked in the finance and accounting departments at Peyser & Alexander Management, Gersh Management Services, and West Hills Day Camp, and was a small business owner for seven years in Patchogue, New York.

Janney Montgomery Scott, the wealth management firm based in Philadelphia, Pennsylvania, appointed a group of six industry professionals, together overseeing more than $225 million of client money. Chase Bradley, senior vice president/investments and Anthony Jessuck Jr, vice president/investments joined Janney’s Mystic, Connecticut branch. Bradley was accompanied by Patty Grady, senior registered private client associate. Bradley, Jessuck, and Grady were formerly affiliated with Wells Fargo. Wayne Howle, first vice president/investments, and Jessica Hill, senior registered private client associate, joined Janney’s Florence, South Carolina branch office. Howle was previously affiliated with Wells Fargo Advisors. Cathryn Budd, financial advisor, joined Janney’s Atlanta, Georgia branch office. Budd was previously affiliated with Merrill Lynch.

Indosuez Wealth Management promoted Frédéric Lamotte to chief executive officer for WM in Miami and to head up global business for the Americas. He is based at the group’s North America headquarters in Miami, and shifted from his previous position as chief investment officer, which he held since 2012. Lamotte joined Banque Indosuez in 1988 in the ALM department of Saudi French Bank. He then moved to Indosuez’s Singapore subsidiary in 1993 as head of derivatives before becoming head of capital markets and derivatives for the Tokyo subsidiary. In 1997, he was appointed head of advisory and structured products at Crédit Agricole (Suisse) SA and later took over as head of markets and investment solutions at Indosuez Wealth Management Switzerland in 2007.

RBC Wealth Management brought in a mother/daughter financial advisor team in the Chevy Chase office. The Stewart Team comprises Susan Stewart, senior vice president - financial advisor, who joined with 20 years of industry experience, and Taylor Stewart, financial advisor, with five years of experience.  They manage more than $150 million in assets and joined from Merrill Lynch.

Stewart holds both a bachelor’s degree in political science from Ursinus College and a Juris Doctorate from The Dickinson School of Law at Pennsylvania State University. Taylor joined the Stewart Group in 2014. Following graduation from the University of Wisconsin-Madison, where she earned a bachelor’s degree in political science, Taylor worked as the assistant to the chief financial officer of the Democratic National Committee.

One of the great figures of the investment management industry, Vanguard Group founder John Bogle, died at the age of 89. He is known as the "father of indexing". Bogle pioneered the model of the index fund, once considered an oddity but now a mainstream feature of the wealth management industry. As a consequence, Vanguard is now one of the largest investment houses in the world, overseeing $4.9 trillion of assets as at the end of last year.

BNY Mellon Investment Management appointed Kristina Fox as the new head of the organization's Wealth Solutions Group. Prior to this, she was a managing director and head of sales and national accounts at Third Avenue Management. Before that, she worked at Neuberger Berman for 17 years where she held many positions from national accounts to client portfolio manager.  She has also held wholesaler and analyst positions at Credit Suisse Asset Management and Warburg Pincus Asset Management.

BNY Mellon Wealth Management reportedly appointed Ray LaDieu as a senior wealth director in Dallas. LaDieu has more than 20 years’ experience in the industry. Before his latest role, LaDieu was a senior private banker at BBVA Compass for five years. 

Latest Comment and Analysis

Latest News