December was another busy month for wealth management moves.

December was another busy month for wealth management moves.

UK
After Theodora Zemek has left her position as head of fixed income at New Star Asset Management to join Axa Investment Managers, James Gledhill, her long-standing deputy, has been appointed New Star's head of fixed income with immediate effect.

The New Star Managed Distribution fund is to pass to joint chief investment officer Gregor Logan.

The flagship New Star Fixed Income (New Star Fixed Income) fund will be managed jointly by Mr Gledhill and Nick Hayes. The Sterling Bond unit trust will continue to be managed by Phil Roantree.

Mr Gledhill will, however, retain personal control of the High Yield Bond fund while Mark Saunders will become joint manager of the New Star High Yield Bond fund.

UK-listed absolute return asset manager, RAB Capital has appointed George Andrew Philips to its board as an executive director, subject to FSA approval.

Mr Philips joined RAB in September 2006 when Northwest Asset Management, the company he co-founded, was acquired by RAB. Since then the renamed RAB-Northwest funds have grown assets under management from $500 million at the time of acquisition to $838 million as at 30 November 2007.

Coutts has appointed Ed Goodchild as a senior private banker in its ultra high net worth client business Coutts Private Office.

Mr Goodchild joins from UBS Wealth Management and will be based at the bank's Strand office in London, reporting to Duncan MacIntyre, head of Coutts Private Office.

Coutts has also added to its family business team by hiring Juliette Johnson.

Ms Johnson will be London-based and will report to Mark Evans, head of Family Business and Philanthropy at Coutts. Her arrival brings the team to six strong.

She joins from BDO Stoy Hayward where she was a director in the firm’s centre for family business.

UK-based asset manager London & Capital has appointed Stephen Westwood as director of investment funds. It has been laying the foundations for a new division, which will develop a range of listed investment funds in the absolute returns arena, for a few months.

Mr Westwood joins London & Capital from Fidelity International, where he was head of investment trusts, managing assets in the region of £2.8 billion ($5.7 billion). He spent his earlier career with Henderson Global Investors and Kleinwort Benson Investment Management.

UK law firm Addleshaw Goddard’s Leeds and Manchester-based family teams have moved en masse to Mills & Reeve, who will open new offices in Leeds and Manchester, bringing their national total to six.

The move is intended to help Mills & Reeve's private client practice maintain its current 20 per cent contribution to firm turnover.

Both new teams advise on the full range of family work, specialising in complex financial arrangements including businesses trusts and pensions, as well as cases involving an international element.

Mills & Reeve has appointed family lawyer Caroline Dresden as an associate to strengthen its 11-strong Birmingham family and matrimonial team. She will specialise in high net worth ancillary relief work.

Ms Dresden was formerly a partner at Birmingham niche divorce practice Benussi & Co.

The Birmingham office of law firm, Irwin Mitchell, has also made two senior appointments, beefing up its private client and business services offering.

Nilay Shastry has been appointed to the new role of business immigration lawyer within the firm's public law department while Nicola Walker joins the family law and private client team as a new associate.

Mr Shastry, who arrives from Blakemores, is also a New York attorney and advises on corporate immigration issues and, in particular, transfers between the US and the UK.

UK private client specialist law firm Boodle Hatfield has strengthened its private client team with the appointment of Liz Cleary-Rodriguez, an associate with Martineau Johnson.

Ms Cleary-Rodriguez, who has 10 years post-qualification experience and who is currently responsible for developing Martineau Johnson’s private client practice in London, joins Boodle Hatfield on 7 January 2008.

Prior to joining Martineau Johnson in 2005, Ms Cleary-Rodriguez worked in the private client team at law firm Manches. Her expertise lies in advising UK and non-UK resident non-domiciliaries on all aspects of capital tax planning, asset protection and the devolution of their worldwide estates.

Jersey Trust Company, an independent trust company, has appointed three new directors.

Europe
BNP Paribas Private Banking has appointed Paris-based Pierre de Pellegars as head of Wealth Management, the department that advises and supports, in a "family office" spirit, clients whose net worth is higher than €5 million.

Mr de Pellegars is a member of the management committee and will report to the head of Private Banking in France. He will head up a team of 40 wealth management private bankers based in Paris who work in coordination with 12 Family Shareholder Private Bankers.

He will succeed Etienne Barel, who joins Corporate and Investment Banking teams of BNP Paribas and starts in January.

Credit Suisse has hired Claire Pichon and Rita Maalouf as relationship managers in Credit Suisse Banque Privée France.

Ms Pichon is rejoining as a senior private banker from Axa Gestion Privée having also worked at Banque de Gestion Privée Indosuez.

Ms Maalouf has been working at hedge fund analyst and advisor Balzac Partners.

Sinopia Asset Management, the Paris-based quantitative specialist of the HSBC Group, has promoted Pierre Sequier as its new global chief executive officer with immediate effect.

Mr Sequier steps up from the role of deputy chief executive and chief investment officer. He will retain his position of chief investment officer and will report to Mark McCombe, global chief executive of HSBC Group Investment Businesses.

The move follows the promotion of Philippe Goimard, Sinopia's former chief executive, to the role of chief executive of HSBC Investments in France. HSBC Investments operates as the global distribution platform for Sinopia, and HSBC’s active management specialist Halbis.

Ulrich Stephan has been named by Deutsche Bank to head its German Private Banking division, which is part of the Private and Business Customers division for Germany.

Mr Stephan replaces Hans-Werner Jacob, who is stepping down from his post but will continue to act as a consultant to the bank.

Jersey-based asset manager Ermitage has tapped Standard Bank to hire Lindsay Bateman as director and head of marketing of its Global Wealth Management business. It is also seeking to add a further two business development executives in London and Jersey in early 2008.

Mr Bateman was the managing director of South Africa's Standard Bank Offshore Group's private client services, with a focus on the Middle East, South Africa, Kenya, Nigeria and Argentina.

His appointment is part of the continuing expansion of Ermitage's Global Wealth Management business, following appointments of Jonathan Watson as its chairman and Lord Brownlow as its deputy chairman earlier this year. In July, Todd Scanlon, formerly of ABN Amro's distribution team, was also appointed as a new director of institutional sales.

The Commerzbank Group has decided to merge its Accounting and Taxes and Financial Controlling departments on 1 January 2008. The head of the new Group Finance department will be Martin Zielke, a Member of the Management Board of Eurohypo, where amongst other things he is responsible for Finance, Controlling and Tax. Mr Zielke will continue in this role in addition to his new responsibilities.

UBS has promoted Gabriel Castello to become the new president and chief executive of its private banking unit in France. He joined from Caixa Bank last year to develop private clients with high potential.

Mr Castello replaces Pierre Poyet who is to return to Switzerland and will continue working for UBS, the bank said in a statement.

Societe Generale Asset Management has appointed Isabelle de Gavoty as head of small and mid cap Euro-Europe equity management. She joins from AXA Investment Managers, where she currently manages funds worth around €1 billion ($1,475 billion).

International
Citi has appointed Vikram Pandit as the company's new chief executive officer and member of the board of directors, with immediate effect.

Sir Win Bischoff , who has been acting chief executive officer since 4 November 2007, will succeed chairman Robert Rubin , who will return to his previous duties as a member of the Citigroup board of directors and chairman of the executive committee of the board.

Mr Pandit was most recently chairman and chief executive officer of the Institutional Clients Group, which comprises Citi Markets & Banking and Citi Alternative Investments .

Previously, he was a founding member and chairman of Old Lane a multi-strategy hedge fund and private equity fund manager acquired by Citi in 2007.

Prior to founding Old Lane, Mr Pandit held a number of senior positions at Morgan Stanley over more than two decades, including president and chief operating officer of Morgan Stanley's Institutional Securities Group, which included Morgan Stanley's investment banking, fixed income and capital markets businesses.

Sir Win was previously chairman of Schroders before joining Citi in 2000, with the acquisition of Schroders' investment banking business by a Citi predecessor company.

Most recently, he has chaired Citi's businesses in Europe, the Middle East and Africa.

AXA Investment Managers has appointed Theodora Zemek as global head of fixed income. She will report to Dominique Carrel-Billiard , chief executive of AXA Investment Managers and will be based in London. She will take up her new role in March 2008 and will be a member of the AXA IM executive committee.

Ms Zemek joins AXA IM from New Star, where she was head of fixed income and manager of their managed distribution and fixed interest funds.

BNP Paribas has announced that Etienne Barel , formerly head of Private Banking France, is to become head of the newly created Private Bank Relationship Management function for Equity Derivatives and Fixed Income within the Corporate and Investment Banking core business.

In this new role Mr Barel will become CIB's senior representative and coordinator for the Private Bank sector throughout the world.

Dutch bank ING has appointed Wilbert Buiter as head of Group Human Resources.

Mr Buiter succeeds Marina Eloy who will retire from ING on 1 January 2008. Mrs Eloy joined ING in 2000 and was appointed head of Group Human Resources in 2004.

Mr Buiter joined ING in 2004 as head of Human Resources Netherlands. In his new position Mr Buiter will report to Michel Tilmant , chairman of ING Group.

Mohammed Abdel-Haq has resigned as global head of HSBC Amanah Private Bank .

London-based Dr Abdel-Haq joined HSBC Private Bank in August 2004 and previously worked at Citigroup and Deutsche Bank .

NatWest International Personal Banking has appointed Dave Isley as its new head. Based in Jersey, he will report to managing director Will Beaumont .

Mr Isley moves across from RBS International where he also managed International Personal Banking.

He succeeds Julian Gouge , who is now heading the group’s Middle East and Far East International Personal Banking businesses, and will be responsible for sales, service and strategy.

Rosemary Marr has been elected STEP Worldwide chairman at STEP Council in London.

In other changes at the campaigning trusts and estates society, John Riches and Michael Young were re-elected as deputy chairmen of the society and Larry Frostiak was re-elected as Treasurer. Former chairman Richard Pease was elected a vice-president and Ian MacDonald , Kelly Massey-Carlier and Remi Aiyela were elected to STEP Council. Former Council members Edmund Fry and Richard Williams were thanked for their years of hard work.

In October Investec Trust appointed Rosemary Marr as a group consultant. She is based in Jersey but will spend much of her time in Investec Trust’s other jurisdictions of Guernsey, Geneva and Mauritius.

Ms Marr was previously a director of Pentera Trust Company in Jersey and before that she was managing director at Trident Trust Company in Jersey.

Prior to that she was a senior trust director at Standard Bank in Jersey.

Californian multi-product money manager Fisher Investments has hired Miles Standish as managing director of Fisher Wealth Management , its UK subsidiary. He was previously managing director at UK wealth manager Towry Law .

Fisher Investments, now with over $42 billion assets under management, is headquartered in Woodside, California where all of its investment professionals are located.

Asia Pacific
Credit Suisse has hired Jack So as vice chairman, Greater China, supporting business development across the Swiss bank's Investment Banking, Private Banking and Asset Management divisions in the Asia Pacific region. He will be based in Hong Kong.

Currently chairman of the Hong Kong Trade Development Council, Mr So is responsible for leading Hong Kong's efforts to attract investment and services to the territory. From 1995, he was chairman and chief executive of Mass Transit Railway Corporation.

His responsibilities will include strategic advice on the growth and development of Credit Suisse's franchise in the region.

Paul Calello, chief execeutive of Credit Suisse Investment Bank and of Credit Suisse, Asia Pacific: "Mr So has an impeccable record of achievement and will be a real asset as we look to build out our franchise further in Asia Pacific."

Barclays Wealth has appointed Sandeep Sharma as director and head of South Asia reporting to Didier von Daeniken, Asia Pacific chief executive.

Barclays says that Singapore-based Mr Sharma will leverage its expertise to offer wealth management services to the South Asian community of ultra high net worth individuals.

Mr Sharma has more than 14 years experience in the Indian market both as a private banker and corporate banker.

He has previously worked at SG Private Banking and ABN Amro.

The wealth and insurance arm of HBOS Australia, St Andrew's Australia, has hired Adrian Hondros as its chief executive. He joins from National Australia Bank's private bank where he was general manager.

The previous chief executive, John Van Der Wielen, moved to the UK to become director of HBOS's insurance and investment division.

Mr Hondros has also worked for National Mutual Life Association, planning company Godfrey Pembroke, where he was managing director, MLC Wealth Management and NAB Financial Planning. He will start at St Andrew's Australia in March.

North America
Credit Suisse has appointed Paul Simons and Peter Skoglund as co-heads of Private Banking USA.

The newly-created positions are in recognition of the significant growth of Private Banking USA and replace the regional structure under which the business had operated.

Private Banking USA now operates 16 offices across the US, having added locations in Irvine, CA and Rye Brook, NY in 2006, and Northbrook, IL, Greenwich, CT and Philadelphia, PA earlier this year.

Both will report to Anthony DeChellis, managing director and head of Private Banking Americas.

Mr Skoglund has led the Central Region of Private Banking USA since 2006 and had previously headed the Chicago office since 1991.

Mr Simons joined Credit Suisse in 2006 from Merrill Lynch where he spent 19 years in increasingly senior positions across the firm. At Credit Suisse, Mr Simons Headed Private Banking USA's Client Solutions Group, comprised of three areas: One Bank Delivery, Corporate and Executive Solutions and Wealth Planning.

Keith Schappert, head of Credit Suisse's US asset management division, has resigned, just over a year after he joined the Swiss bank.

Mr Schappert was previously president and chief executive of Federated Investment Advisory companies and worked more than 25 years at JP Morgan Investment Management.

Amanda Wallis has been appointed as market executive for Northern California by US Trust, Bank of America Private Wealth Management.

Ms Wallis joins US Trust from American Express Private Bank in London where she served as executive director and EMEA region head, responsible for 106 countries including seven international locations.

Based in San Francisco, Ms Wallis will report to US Trust Western Division Executive, Tracey Brophy Warson, and will be responsible for the delivery of comprehensive wealth management solutions in this market.

Prior to her role at American Express, Ms Wallis spent over 10 years at legacy Private Bank of Bank of America serving in several leadership capacities in San Francisco and London.

Brown Brothers Harriman, the oldest US private commercial bank, has appointed partner Douglas "Digger" Donahue as its new managing partner to succeed Michael McConnell.

Mr Donahue, currently a BBH partner and global head of Investor Services, joined the firm in 1976 from Harvard Business School.

Mr McConnell, who became managing partner in 2002, is to remain a partner at the firm.

The US private client services division of Deutsche Bank Private Wealth Management has hired Cynthia Norville into its Atlanta office as a managing director and regional executive for the Southern region. She will report to Michael Burke, managing head of US private client services.

Ms Norville will be responsible for expanding private client services operations and cultivating relationships with high net worth individuals and families throughout the southern region, including Georgia, Tennessee, Alabama, North Carolina and South Carolina.

She succeeds Don Milich, who has decided to return to the role of client advisor.

US Trust/Bank of America Private Wealth Management hired former AXA Advisors and Wells Fargo private client advisors in San Francisco and the New York area as part of its continued push to expand its network of advisors in the $3 million plus client category.

The firm appointed four new advisors including former Wells Fargo senior vice president and regional trust manager, Lisa Roberts, to the position of city executive in San Francisco; and former US Trust wealth structuring specialist Kathleen Segal to market trust team leader also in San Francisco.

The firm also appointed former AXA Advisors financial consultant Gregory Farrell; and former Bank of America Global Commercial Banking senior management officer, to the positions of private client advisor and private client consultant respectively, both based in Rochester, New York.

Ms Segal will report to US Trust West Division Trust Executive, Mike Dowling, while Ms Roberts will report to US Trust Western Division Executive, Tracey Brophy Warson.

Mr Farrell and Mr Kelly will report to US Trust City Executive for Rochester, James Iglewski.

New York-based investment bank Jefferies & Co has hired Matthew Gorelik and John Sullivan as managing directors in its Private Client Services group in Los Angeles and San Francisco, respectively.

The two wealth managers, who have worked with studio heads and other key entertainment industry players, will be responsible for developing the bank's West Coast client base.

Mr Gorelik was previously senior vice president and portfolio manager in the wealth management group at Citigroup Smith Barney.

Mr Sullivan was previously a director at Credit Suisse Private Banking USA.

Bank of America has made a spate of leadership appointments in Michigan as Keith Cockrell was named the bank's state president.

Also named was John Irwin as executive in charge of US Trust/Bank of America Private Wealth Management for Michigan. Mr Irwin, who will be based in Troy, had headed up Michigan wealth management for LaSalle Bank from 2002. Joseph Heisler, previously state sales manager for LaSalle Financial Services, will be market executive in Michigan for premier banking and investments.

Other senior appointments include Scott Stearsman, who was appointed region manager, greater Michigan/Indiana, Daniel Terpsma, a veteran Michigan commercial banker, as middle market and business banking market executive in Michigan and Donald Heath, as commercial real estate banking executive for Michigan, based in Troy.

Morgan Stanley has been expanding its wealth management business in the US with new hires. Angus Miller joins the Short Hills, New Jersey office from Merrill Lynch, while in California, Don Garman joins the Pleasanton office, also from Merrill Lynch.

In Folsom, California, Cary Allison joins from Wachovia, reporting to the branch manager, Russell Martinez.

John Dudzik, the former Deutsche Bank executive, joined Connecticut-based asset manager Colchis Capital Management at the end of November.

Mr Dudzik previously worked at Deutsche Bank, most recently as head of Deutsche Bank Alex. Brown, the private client unit, which he ran for six months. He left the firm in December 2006 after being replaced in September by Michael Burke, former director of national sales at Morgan Stanley's global wealth management group.

San Francisco-based broker and investment advisor Nollenberger Capital Partners has hired Paul Kromhout to join its Private Client Services group.

Before joining NCP, Mr Kromhout was a financial consultant at Vice President-Investments. Prior to that he was branch manager at AG Edwards in San Francisco and a financial advisor with Kidder, Peabody.

He is joined by Diane Endo, registered associate and assistant sales supervisor, who was previously the assistant branch manager at AG Edwards.

US wealth manager Colony Group has raised four new partners to bring the firm's senior management team to 19 partners in strength.

Vincent Gratch serves as chief compliance officer, managing director of operations and associate general counsel. He joined Colony Group in 2000.

Scott McDonald is a senior financial counsellor in Colony Wealth Management, the company's financial advisory division. He also joined the firm in 2000.

Bob Whelan serves as national sales director and chairman of the company's Business Development Committee. He joined The Colony Group in 2006.

Andy Wig is the director of Equity Portfolios, portfolio manager and a senior research analyst in Colony Investment Management, the company's investment management division. He joined the firm in 2001.

Michel Tremblay, chief operating officer of personal and commercial banking and wealth management, is to leave National Bank of Canada on 18 January 2008, having decided to "pursue his career in another sector of the financial services industry".

Louis Vachon, president and chief executive, will head these units on an interim basis.

Canadian listed asset manager Dundee Wealth has parted company with the head of its investment banking unit, Kym Anthony. He was appointed in 2005 as part of the firm's push into banking.

The firm said Mr Anthony, chief executive at Dundee Securities and Dundee Bank, had "left the employ of the company" and was looking at other opportunities within the group, including work on its US structured credit group.

David Goodman, chief executive of Dundee Wealth, will take over Mr Anthony's responsibilities at the dealer.

Board chairman and company founder Ned Goodman and Dundee Wealth lead director Robert McLeish will also work with the executive committee and run the search committee for a successor.

Middle East
Credit Suisse has employed a new team of six private banking relationship managers for the Saudi Arabian market.

The team, based in Dubai, is part of a strategic move to beef up its private banking team in Saudi, according to a statement from the Swiss bank.

Ashraf Bajsair has been appointed team leader, assisted by Jihan Amiry, Mazen Takhah, Karl Abdelnour, Zohaer Eitani and Khalid Bin Mahfooz as relationship managers. They join from banks based in Jeddah, Al Khobar, Dubai and Riyadh.

The Dubai-based team complements the existing dedicated resources in Zurich, Geneva and London covering Saudi clients.

Regional and international bank and asset manager EFG-Hermes Qatar has been granted a licence by the Qatar Financial Centre Authority for investment banking and asset management business, adding to the expansion of EFG-Hermes's regional footprint.

The Qatar operation will be led by Ahmed Waly, who previously worked for EFG-Hermes as a senior member of the institutional sales team, before moving to Auerbach Grayson in New York and thereafter to the National Bank of Kuwait as head of brokerage.

ABN Amro has confirmed that Robert Timmers has left as head of the Middle East Private Client team.

Hassan El Nahas, head of Private Banking, UAE will be acting as the interim.

Mr Timmers has been with the Dutch bank for around 17 years and is believed to be planning to join a family office.