Executive Moves September 2007

Stephen Harris

1 October 2007

UK Warwick Newbury is retiring as chief executive officer of SG Hambros, the UK arm of SG Private Banking from 1 October and will become chairman of the board, replacing the retiring Nicholas Assheton. Eric Barnett, currently group head of Private Banking will become chief executive officer, and Jean-Pierre Flais, currently group chief financial and operating officer will become deputy CEO. Eric Barnett joined Hambros Bank in 1986 then moved to the Guernsey office in 1996 as deputy managing director and head of Private Banking, continuing in this role following Société Générale’s acquisition of Hambros Bank Limited in 1998. Jean-Pierre Flais joined Societe Generale’s General Inspection in 1987 as an internal auditor, before becoming regional manager for UK and South East Asia in the Institutional Investors division. He then moved to London and joined SG Hambros as chief financial officer in 1998. Scottish Widows Investment Partnership is losing head of European equities Nigel Bolton and investment directors Vincent Devlin and Alistair Hibbert, with their team, to BlackRock. The replacement head of European equities will be Steven Maxwell; Roy Hammerson and Kathleen Dewandeleer will take on responsibility for SWIP's pan-European retail funds, while Catie Wearmouth will look after the fund manager's continental European retail funds. The company has bolstered its global developed markets team with the appointments of US equity specialists Nick Ford and Simon Moss. Both join as investment directors and will be based in Edinburgh reporting to head of global developed markets Ian Vose. Mr Ford joins from F&C, where he was a director and investment manager, Mr Moss joins from Legal and General Investment Management's US equity team, having also been at Gartmore, where he worked alongside Mr Ford in the UK and US. Lord Leitch has been appointed chairman of Scottish Widows, the UK fund manager, succeeding Gavin Gemmell who steps down on 1 October. Mr Gemmell will remain on the Scottish Widows board until the end of the year. Lord Leitch joined the board of Lloyds TSB, Scottish Widow’s parent in 2005. He has held a number of senior management posts in Allied Dunbar, Eagle Star and Threadneedle Asset Management. Credit Suisse has made two appointments to its fixed income for asset management team. Michael Leonard has been appointed as a director and portfolio manager to the UK fixed income team and Vicki Gedge joins the European credit research team as a credit analyst. Mr Leonard will help manage and grow portfolios for institutional and retail clients globally, based in London and reporting to Mr Dryer. He joins from Old Mutual Asset Management where he was a credit hedge fund manager. Ms Gedge will cover sterling and European high grade and high yield bonds in the consumer goods/services, retail, tobacco, gaming and leisure sectors. She will also be based in London and will report to Robert Thomas, head of credit research in London. Prior to joining Credit Suisse, she was a senior credit analyst focusing on European investment grade credit research at Barclays Capital. Baring Asset Management has hired James Brennan at assistant director level to be responsible for building their charity business, which last year managed £759 million ($1,532 million) in assets. Based in the London office, he will report to John Maitland, head of private clients and charities. Mr Brennan joins from Collins Stewart Wealth Management. Fidelity International’s multi-manager business has promoted Geraldine Stewart to head of investment. She will be responsible for leading and developing the team of portfolio analysts and the investment support functions for third party funds. Credit Suisse has hired Philip Chalkley as a director and group head in its private banking business in the UK. He will report to Charles Egerton-Warburton - head of UK/Eire private banking at Credit Suisse - and will be a member of the UK/Eire management team, based in London. Mr Chalkley joins from Barclays Private Bank, where he was a director for ten years and a member of the UK management team. Before that, he held various corporate finance and banking positions at SG Warburg Securities and Schroders. Credit Suisse has also hired Phil Redding as a director in the UK institutional distribution team of its asset management business. He will be responsible for maintaining and developing relationships with institutional clients in the UK and Ireland. Based in London, he will report to Terry O’Malley, head of UK institutional distribution for Credit Suisse asset management. Jupiter Asset Management has hired Melanie Wotherspoon as director of private client and charity business development, based in London. She will join Jupiter in November 2007 from the private client department at Baring Asset Management. Josef Odili, Fidelity International's lead Asian multi-manager, is to leave at the end of this month to join Fortis Investments. His departure leaves just chief investment officer Richard Skelt and US specialist Nieves Benito as named multi-managers at Fidelity. Philip Nell has been promoted to head of UK retail property funds at asset manager Morley. This new role combines responsibility at the fund manager level for both the Norwich Property Trust and Norwich Property Investment Fund. Occam AM, a new UK asset manager launched by former Thames River Capital managing director and co-founder Jonathan Hughes-Morgan, has recruited three fund managers. The London-based firm is headed by David Sheppard, former SG Corporate and Investment Banking head of pan-Euro sales and trading, as chief executive. Fund manager Mark Williams joins from F&C where, prior to August 2007, he ran the $700 million Pacific Growth fund. Phil Cliff joins as European fund manager from Threadneedle where he managed more than $2.8 billion in the Pan European Accelerando fund and European Select fund until August this year. Jon Greenhill will head up the Japan fund at Occam. He joins from Lazard Asset Management and was previously at Royal and Sun Alliance where he was head of the Japanese Equity team, which managed around $4 billion. Asset manager BlackRock has appointed Stephen Hunnisett to its Europe, Middle East and Africa fixed income team as a senior credit analyst, based in London. He joins BlackRock from Moody's, where he was the rating agency’s lead analyst for the UK insurance and asset management sectors and a standing member of Moody’s global insurance credit and research committees. London-based Unicorn Asset Management, a specialist Alternative Investment Market, fledgling and small cap fund manager, has appointed Miles Nolan as a fund manager working across the company’s Venture Capital Trust and smaller companies fund ranges. He joins on 1 October 2007 from private client broker and fund management group MD Barnard where he worked as an analyst with the UK equity and VCT teams. Wealth manager Ansbacher, owned by Qatar National Bank, has appointed Nikolas Kouros and Ying Lau to its London-based specialist lending team. Both will report to head of Specialist Lending Bob Bates. Mr Kouros joins Ansbacher from Deutsche Bank. Prior to working at Deutsche, he held senior, marine finance positions with Fortis Bank in Athens and Aegean Baltic Bank. Ms Lau joins Ansbacher from Bank of Scotland Private Bank, where she was a relationship manager. She previously worked at Royal Bank of Scotland and Barclays Bank. Ansbacher has also hired Norval Loftus as a senior portfolio manager in its investment management team. He will report to Mike Hollings, chief investment officer of the Qatar National Bank subsidiary, and will be based at the bank’s London office. Bruce Weatherill, the highly-rated global head of PwC’s private banking practice, is to leave the firm after 30 years after he has supervised a smooth handover of his clients and large wealth management team and network. Neil Clark has been appointed head of private banking corporate at Bank of Scotland. He will be managing offices in Edinburgh, Glasgow, Aberdeen, London and Manchester looking after the personal banking of the bank's highest-profile corporate clients. Mr Clark joined BoS corporate in 2003, after a 20-year career with Clydesdale Bank. Pagan Osborne, the Scottish firm of wealth and property managers, has appointed Jim Willens to run its wealth management business. Mr Willens stepped down from the board of the Nationwide Building Society last year after an unsuccessful bid for the role of chief executive officer. He was formerly responsible for relaunching Nationwide's online bank. UBS has hired Claude Cochin de Billy from Deutsche Wealth Management in London, according to sources. Mr Cochin de Billy was head of the London office at DWM and joins UBS as a managing director in the family office area which is run by Darren Allaway. Cazenove Capital Management has hired Marcus Brookes and Robin McDonald from the Gartmore multi-manager team. Mr Brookes joins as a director and head of the multi-manager team; Mr McDonald has worked with him since 2002 and is appointed as joint manager to Cazenove’s four multi-manager funds. These appointments follow the decision of Mark Harries and four others to leave Cazanove to join Scottish Widows Investment Partnership. Mark Harries will become head of multi-manager and Simon Wood, Lyndon Gill, Natalie Burnard and Andrew Perham will be investment directors. The team will report to Graham Wood, chief investment officer of equities. EFG Private Bank, the London-based private banking arm of Zurich-headquartered private banking group EFG International, has made a series of new appointments. Camil Ghantous joins the Middle East team and will focus on clients in Lebanon, Jordan and the wider Gulf region. He was previously a senior vice president at Bank Hofmann, part of the Credit Suisse group. Massimo Camponovo joins from tax specialists Chown Dewhurst where he was a tax consultant to high net worth individuals. His role will be to advise international clients in connection with their trust and estate planning requirements, working closely with EFG Offshore in Jersey. EFG Platts Flello, a financial advisory arm of EFG Private Bank based in Birmingham, has hired Jonathan Benson as a director. He joins from wealth manager Baigrie Davies to work on tax, estate and retirement planning for his clients. Colin Hanlon has joined EFG Bridgewater Pension Trusteesas a self invested personal pension specialist from Prudential, with his role being to develop the SIPP business within the IFA market. Arbuthnot Latham, the private banking division of Arbuthnot Banking Group, today announced the appointment of Steve Hicks as chief operating officer and business development director, a new role for the UK-based bank. Mr Hicks joins from Barclays where, since October 2003, he was the head of Premier Banking with responsibility for 300,000 affluent and high net worth clients and 600 relationship managers. He has 28 years of industry experience including senior roles in Corporate Banking, Retail Banking and Wealth Management. The group also announced the appointment of Mike Bussey as chief executive officer from 1 October 2007. Mr Bussey will succeed John Reed, who will become a vice chairman of Arbuthnot Latham and takes up the newly created group role of International Business Development Director. Mr Bussey was chief executive of the Private Banking and Trust business at NM Rothschild & Sons for four years, prior to which he had been chief executive of Schroders Private Banking. Previously, he worked at HSBC for over 20 years in various senior managerial positions across Europe, the Middle East, South East Asia, Africa and the Americas. Barclays Global Investors has hired Karen Prooth as managing director and European chief operating officer for ETF provider iShares and the Global Index and Markets Group. Prior to joining BGI, she was managing director at JP Morgan Asset Management. Her other roles there included head of risk management EMEA, chief operating officer for the international equity and balanced group and head of performance measurement. UK-based insurer Standard Life has tapped ABN Amro’s London-based private client business for a team of four discretionary portfolio managers for its forthcoming ultra high net worth business. David Sullivan, Darren Ripton, Eric Louw and Isobel Pilkington will report to Richard Charnock, the former Williams de Broe chief executive, who joined Standard Life Investments at the end of February to head up the new London-based unit. Mr Loftus joins from Exane BNP Paribas where he was a director in convertible bonds, having also worked in the US, Europe and Asia with HSBC and Societe Generale, along with earlier roles as an economist and market commentator. Veritas Asset Management has brought Ian Fridlington into its global portfolio management team as private client director, reporting to Anthony Rosenfelder. He joins from Ansbacher where he was head of investment strategy. London-based Butterfield Private Bank has appointed Marke Lane to the role of head of its new professional and executive division. He will lead the team serving clients in the professional and executive sector. Mr Lane has previously worked at Barclays Bank in a number of senior roles specialising in relationship management and business development. Systematic investment manager Aspect Capital has appointed Chris Stuart as senior European sales executive. He will work alongside Jamil Ismail and Ted Frith to develop Aspect’s institutional investor client base in Europe and the Middle East. He will report to John Wareham, Aspect’s chief commercial officer. Mr Stuart joins from Standard Chartered Bank where he was most recently European head of corporate FX, IRD, commodity and equity derivatives sales. Mr Redding joins from Zurich Corporate Pensions, where he was head of sales. Sarasin Chiswell has appointed Andrew Thompson and Ralph Clark to develop the firm’s distribution channels. Both join from Morley Fund Managers where they have been responsible for developing external distribution channels. They will report to Paul Cooper, deputy chief investment officer of Sarasin Chiswell and head of investor services. Andrew Penney has been appointed as a managing director and the London office head of international trusts at Rothschild Private Banking and Trust. He comes from City law firm Speechly Bircham which has replaced him with Mark Summers as a new international tax and trusts partner within the private client department. Ansbacher Trustees in Jersey has appointed James Howe as director and Adrian Gower as senior manager. Mr Howe previously worked at Capco Trust, Deutsche Bank International and Kleinwort Benson in Jersey. Mr Gower worked before at Mourant & Co and Capita Trust. Polar Capital Holdings has recruited Nick Evans, from Axa Framlington Investment Management, as a senior fund manager in its technology team. Mr Evans joined Axa Framlington in August 2000 and was lead manager of both the AXA Framlington Global Tech Fund and AWF Framlington Global Tech Fund. Wealth manager and broker Collins Stewart has made six key appointments to its wealth management division in Jersey. Ryan Harrison, previousy with RBC and Deutsche in Jersey, has joined as senior portfolio manager responsible for the company’s traditional portfolio management service, working alongside head of Jersey portfolio management Nigel Cuming and Francis Clayton. Richard Pemberton will join as a fixed interest portfolio manager working with Chris Huelin, head of fixed interest. He was previously at Quilters. Lee Morris will join as a portfolio manager, working with Glenn Coxon on the multi-manager team. Mr Morris joins from Mourant where he was a senior hedge fund analyst. Steve Glover and Lawrence Young have joined the stockbroking desk alongside Harry Vernon and his team. Mr Glover was previously at Le Masurier James & Chinn where he was a director. Mr Young joins from Mourant. Niall Hingston will join the portfolio administration desk from UBS where he was associate director of operations. UK wealth manager Towry Law has appointed Michael Greenwood to the new role of technical liaison manager. He will provide support and advice on products, legal documents, trusts and tax planning. Barclays Wealth has appointed Thomas Fekete as managing director and head of its investment specialists team within the investment and product office. He will report to Brian Cordischi, head of investment management at Barclays Wealth. Mr Fekete joins from UBS Wealth Management, where he was managing director and head of product and services distribution. John Hall, chief executive of UK broker and investment manager Brewin Dolphin, is to step down at the end of the financial year on 30 September 2007 after a 20-year stint. He will retire from the board at its 2008 annual general meeting. Switzerland Credit Suisse has named Werner Raschle as new head of Central Switzerland Region including private banking. He succeeds Alain Fuchs, who has decided in future to concentrate on the management and expansion of the important corporate client business of the Central Switzerland Region. Bank Sarasin has announced that Andreas Sarasin has decided to leave the bank due to differences of opinion about the direction of the bank. Mr Sarasin, who has spent the last 25 years working for the bank, is stepping down from the executive committee and leaving the bank with immediate effect. Joachim Straehle, chief executive of Bank Sarasin, will take over the division as acting head of Trading & Logistics. At the same time, the business unit Trading will be transferred to the Asset Management, Products & Sales division, where it will be integrated as an additional business unit. Dr Franz-Josef Lerdo left Dresdner Bank (Switzerland) on 14 September, according to a statement from the German bank. Dr Lerdo has been chairman since 2001 and a member of the executive board since 2000. The new chairman will be Thomas Kiefer who will start his new role today. Mr Kiefer has been with Dresdner since 1985 and since 2003 has been on the executive board of the Luxembourg operation, serving as chief financial officer. Rothschild Private Banking and Trust has hired a team of ten private bankers from UBS, to strengthen its position in the Swiss domestic market. The head of the new team, Jean-Pierre Stillhart, will be responsible for the Swiss market and will report to Thomas Pixner, head of German Speaking Europe and Central & Eastern Europe. Zurich-based Fortune Wealth Management, part of Frankfurt-listed Fortune Management private equity group, has promoted Peter Csoport as its new chief executive. He succeeds Peter Moertl, who is leaving after less than two years in the post. Fortune said Mr Moetl, a former senior manager at UBS, Deutsche Bank and JP Morgan, was leaving to “realise a private project”. Dr Csoport was promoted from within Fortune, where he was previously head of business development. Geneva-headquartered Banque Syz has hired Alan Mudie as chief executive officer of its Oyster family of funds. He will supervise all operations related to these funds, including manager selection, sales, client servicing of its professional investors and the SICAV administration, reporting to Alfredo Piacentini, Syz managing partner. Before joining Syz, Mr Mudie worked for 14 years with BNP Paribas in Geneva in various roles. As from 1 November 2007, Stefan Kräuchi will take over as head of Investment Funds and Alternative Investment Products at Swiss private bank Clariden Leu. In his new position, Mr Kräuchi will report directly to Hans Nützi, who will become head of Clariden Leu’s new Investment Products and Wealth Management Services division in October. Since 2000, Mr Kräuchi has been chief executive of AIG Fund Management (Switzerland) and member of the Management Committee of AIG Private Bank. Andreas Buri, the recently-appointed chief executive of Zurich-based private bank Maerki Baumann & Co, has left the bank. Mr Buri had been in the job for just two months. The reports say he left due to “operational differences”. His predecessor Arthur Bolliger will take up the role of chief executive until a successor can be found. b>US Northern Trust has promoted San Diego region president Susan Mallory to the position of president, southern California and Nevada for their personal financial services business unit. She will move to the Los Angeles area and will be responsible for continuing to build the Northern Trust brand and its high net worth business in the region. Ms Mallory will report to Steven Bell, head of the west coast for Northern Trust. Salim Janmohamed takes over as San Diego region president, responsible for leading strategic growth in the region and overseeing all aspects of Northern Trust’s business activities for affluent clients. September 26, 2007 Wachovia Securities has recruited three advisors from Merrill Lynch to work for its private client group in Plano, Texas. The group comprised Kurt Peterson, who had prior assets under management of about $177.5 million, Mark Filardi, who had prior assets under management of about $98.6 million, and Bradley Vineyard, who had prior assets of about $61 million. They had worked at Merrill since 1991, 1987 and 2000 respectively. And as part of a major sales drive, Wachovia has named Trent Williams as wealth management private banking director for the northeast region. He will be based in Baltimore and report to Morrison Creech, managing executive of Wealth Management Private Banking. In a parallel move, Keith Schmidt will become WMPB director for the central region, based in Dallas and also reporting to Mr Creech. San Francisco-based First Republic Bank, acquired by Merrill Lynch for $1.8 billion this month, announced that chief executive Jim Herbert has been appointed to the additional role of chairman and chief operating officer Katherine August-deWilde has been appointed president. She was previously executive vice president of First Republic. Counsel Wealth Management has hired Joseph Pochodyniak as a portfolio manager in its private client group. He will help design, implement and manage Counsel's private client offering, enhancing techniques for evaluating and rebalancing high net worth client portfolios. Counsel recently appointed Corrado Tiralongo as chief investment officer and lead portfolio manager of IPC Portfolio Management. Credit Suisse has further expanded its US asset management distribution team with the appointment of Ben Alibrandi as a director to its consultant relations team in the US. He will be based in New York and report to Richard Pustorino, head of the consultant relations team. Mr Alibrandi joins Credit Suisse from Lehman Brothers, where he was senior vice-president on the consultant relations team. Boston-based Columbia Management, Bank of America’s investment management arm, has promoted Colin Moore to chief investment officer. Lehman Brothers has named investment banker Erin Callan as its new chief financial officer. As of December 2007, she will oversee treasury, tax and financial control and reporting, and will also join the executive committee. Ms Callan joined Lehman in 1995 after serving was an attorney at Simpson, Thacher & Bartlett, where she represented Lehman. She will report to Dick Fuld, Lehman chief executive, and Joe Gregory, president. Ohio financial services company FirstMerit has hired Kenneth Dorsett as executive vice president and head of its wealth management services. Prior to joining FirstMerit, he served in the private wealth management group at Mellon Bank and as senior vice president and national sales manager for private banking at PNC Bank in Pittsburgh. Merrill Lynch has appointed Michael Kirwan to its private banking office in Boston. He joins from Citigroup’s Smith Barney unit. Mr Kirwan and his team at Smith Barney managed assets of around $875 million and had fees and commissions of more than $1.8 million in the past year. Matthews International Capital Management, the Rhode Island-based independent investment manager focused solely on Asia has hired William Guilfoyle as co-chief executive officer to oversee the business side of operations. Mr Guilfoyle, who formerly headed the US asset management operations of private bank Liechtenstein Global Trust and was most recently a consultant, will be responsible for expanding Matthews' fund distribution and client service functions. Morgan Stanley has recruited a team of financial advisors from UBS for its global wealth management unit in Los Angeles. Thomas Murphy and Ari Kalan, who reportedly had around $321 million in assets under management, had combined fees and commissions over the past 12 months of about $1.18 million. The pair will report to Cynthia Newman, the Los Angeles complex manager, which has 125 financial advisors in offices in Los Angeles, Valencia, Burbank, Glendale and Santa Monica. Also joining Morgan Stanley are Jamie Rosica and Joseph Rosica who previously worked for Citi's Smith Barney unit since 2000. The two had combined fees and commission over the past 12 months of around $900,000, and combined prior assets under management of about $100 million. The Private Bank, a Chicago-based unit of Private Bancorp, has recruited Joseph Dolan from JP Morgan Chase. Mr Dolan will be managing director of treasury management. He was formerly senior vice president at JP Morgan Chase where he was responsible for treasury management professionals throughout the Midwest region. North Carolina-based banking corporation BB&T hired seasoned wealth management executive, David Fisher, to be in charge of its wealth management business which has more than $10 billion in assets under management. Mr Fisher was senior managing director of the Private Banking Division of Bank of America before he left two years ago to serve as chief operating officer of a software development firm. Merrill Lynch has appointed Ronald Meraz as head of its office of diversity for global wealth management. He succeeds Colbert Narcisse, who was recently named chief administrative officer for global origination and chief operating officer for Americas Origination. Smith Barney, the New York-based brokerage unit of Citigroup Global Wealth Management Investments, made an internal hire to replace former director of Investment Advisory Services, Paul Hatch, who was recently named head of Global Wealth Management Investments. The firm named James Tracy, director of Investment Advisory Services. In this role he will be in charge of business units including the Consulting Group, Portfolio Management Group, Smith Barney Adviser and Citi Institutional Consulting. He will report to Mr. Hatch. Previously Mr Tracy was director of the Consulting Group, an investment management consulting unit of the brokerage firm servicing institutional and individual clients. Two former North Fork Bank senior vice presidents will lead a new team of six private bankers for Signature Bank in the group’s mid-town Manhattan office. Paul Santamaria and Carl Gambino, both formerly district managers for North Fork Bank's Manhattan region, were appointed group directors and senior vice presidents of Signature Bank, a New York based private bank with 19 offices and $5.2 billion in assets under management. Credit Suisse has hired a former Merrill Lynch regional sales manager, Michael Nies to head the firm’s Private Banking Miami office. Mr Niles will be responsible for growing Credit Suisse’s domestic wealth management business in the Florida market, described by managing director and head of the Central Region of Private Banking USA, Peter Skoglund, as a market with tremendous growth potential. Mr Niles will be based in Miami and report to Mr Skoglund. Californian wealth manager First Republic Bank has appointed Tod Racine as managing director of business banking. He will be based in San Francisco. Prior to joining First Republic, Mr Racine worked for Venture Banking Group in San Francisco and Palo Alto for 10 years as senior vice president, senior credit officer and relationship manager. Previously he was manager of independent business for Toronto Dominion Bank in Canada. Royal Bank of Canada Trust Company (Cayman), part of RBC Global Private Banking, has appointed Diego Duran as new portfolio manager. US Trust/Bank of America has lost its chief investment officer, Leo Grohowski, to rival firm Bank of New York Mellon Wealth Management. The firm replaced Mr Grohowski with an internal hire on the same day. Mr Grohowski left US Trust/BoA two months on from the creation of the business and following the departure of Peter Scaturro, US Trust's chief executive, who was replaced by Frances Aldrich Sevilla-Sacasa, who is now in charge of the combined wealth management entity. Christopher Hyzy will replace Mr Grohowski. Before joining US Trust in 2005, Mr Hyzy was the chief investment officer and head of product strategy for the Latin American Market Region of Citigroup Private Bank. Ralph Schlosstein, co-founder, president and director of New York-based asset manager of BlackRock, is to step down after nearly 20 years with the firm. Robert Kapito, currently vice chairman and director, will assume the role of president immediately, although Mr Schlosstein will remain with BlackRock until early 2008 to assist with the transition. AIG Advisor Group, the US advisor network, with more than 7,800 representatives across four brands, has a appointed a new chief executive, Larry Roth, from within its own ranks, to replace Peter Harbeck who remains as the group’s chairman. Mr Roth was formerly president and chief executive of Royal Alliance Associates, the group’s largest broker-dealer brand. Morgan Stanley has recruited several new advisors for its global wealth management group from Citigroup's Smith Barney unit. David McKay has joined Morgan Stanley's office in Clayton, Missouri. He will report to Kevin Whitehead, who manages the Gateway branch complex which has three offices in Chesterfield and Clayton in Missouri, and Shiloh in Illinois, and a total of 52 financial advisors. Mr McKay's total fees and commissions for the previous 12 months were $2.05 million and prior assets under management were $245 million. He started at Salomon Smith Barney in 1990. Morgan Stanley has also hired Bradley Barnes, David Couch and Lance Horton for its Bakersfield, California office. The team, which had combined production of about $2.22 million and prior assets under management of $340.3 million, will report to branch manager Rachell Fanucchi. Mr Barnes started at Salomon Smith Barney in 1993, Mr Couch started in 1995, and Mr Horton joined in 1994. Morgan Stanley further recruited a father and son team for its Seattle office. Thomas and Eric Lenze, whose combined production was about $1.54 million, and prior assets under management were $107 million, will report to branch-complex manager Jeff Mallula. Thomas Lenze worked at Smith Barney since 1993, and Eric Lenze since 2004. Asia Pacific Akbar Shah is to lead Citi Global Wealth Management’s mega wealth business for the Asia-Pacific region. In this newly-created position he will report to Kaven Leung, chief executive officer of Citi Global Wealth Management Asia-Pacific. Mr Shah is currently the chief executive officer of Citi’s Global Wealth Management business for the Middle East. Victor Lee, market head for Singapore, at Deutsche Wealth Management has left the German bank along with three relationship managers. The four are joining the wealth management business of Morgan Stanley. Martin Georg, the chief operating officer for Asia at Deutsche Wealth Management has left to join Credit Suisse . Reco Caduff, who was regional head of Asia, has retired and is believed to have set up a head hunting firm. EFG in Singapore have appointed Kees Stoute as managing director from Fortis Wealth Management where he was chief executive in the city state. The news follows on from the recent hires of Kurt Schenk, Sebastian Koh and Chris Lim from Dresdner Private Bank. UBS in Singapore have also confirmed a hire from Fortis: Henk de Glint, who was a managing director, has joined as executive director. Sydney-based AMP, Australia's biggest life insurer, promoted Craig Dunn to chief executive officer, succeeding Andrew Mohl. Mr Dunn, currently managing director of AMP's financial services unit, will take over the role from 1 January 2008. Credit Suisse has appointed Ben Ngai as a director in the Asia ex-Japan Sponsor Coverage team, with a particular focus on China. Mr Ngai will be based in Hong Kong and will report to Matt Whineray, head of Sponsor Coverage Asia ex-Japan, and Zhang Liping, Chairman and head of China Investment Banking. Australian wealth management veteran Gerard Doherty is moving on from his position at fund manager Perpetual after 14 years. Mr Doherty, who headed Perpetual's wealth management division, is leaving after a management restructure which will see his responsibilities divided five ways. International law firm Linklaters has made a new appointment in Hong Kong, announcing Michael Guilday as counsel and head of the firm's Investment Management practice in the region. Mr Guilday comes to the role after a stint in Sydney with Allens Arthur Robinson, but worked for Linklaters in London previously. He takes over from Graham Turl who has left to join funds group BlackRock in Hong Kong. BT Financial Group, the investment management arm of Australia's Westpac banking group, has appointed Robert Swift as the new head of its BT Investment Management multi-strategy team. He replaces Al Clark who is to join Schroders in October as the head of its A$5 billion ($4 billion) multi-assets team for the Asia Pacific region, based in Singapore. Mr Swift joins from Morgan Stanley in Boston and will be responsible for BT's range of diversified funds, global and Australian alternative investments and Australian and international sustainability funds. Europe Citi Private Bank EMEA has appointed Fernando Lopez to manage its Iberian business and Peter Charrington to manage its Northern European business. Maria Teresa Pulido, who led CPB’s Iberian and Northern European businesses for four years is to leave Citi to join the Fairfield Greenwich Group as a partner. Fairfield is an alternative asset management firm with over $15 billion in assets under management with offices in New York, London and Madrid. Previously he worked as a regional manager at Banco Urquijo leading the team in key regions in Spain. He is based in Madrid, and will report to Catherine Weir, chief executive officer, Citi Global Wealth Management, EMEA. Peter Charrington, managing director and head of CPB’s UK, Monaco and Israel businesses, will lead CPB’s Northern Europe region, in addition to his current responsibilities. Credit Suisse has rehired George Pavey, after a two-year absence with HSBC, as a managing director and head of European real estate equity capital markets and co-head of Europe, Middle East and Africa emerging markets ECM. Franklin Templeton Real Estate Advisors, the global real estate investment arm of investment manager Franklin Templeton, has appointed Ilkka Tomperi as vice president, private real estate. Mr Tomperi, based in Franklin Templeton’s Frankfurt office, will focus on identifying private real estate fund investment opportunities in European markets. Mr Tomperi joins from the State Pension Fund of Finland. Previously, he was a manager and senior associate for corporate finance at PricewaterhouseCoopers in Helsinki. BNP Paribas and BNL have announced that Fabio Gallia will join BNP Paribas Group and BNL on 1 October 2007 to succeed Mario Girotti as General Manager of BNL from 1 January 2008. He will also be appointed member of the executive committee of BNP Paribas in 2008. Since August 2005, Mr Gallia has been managing director of Banca di Roma and chairman of the board of directors of the Capitalia Group which he joined in March 2002 as deputy chief executive officer in charge of Finance and Wealth Management. In 2003, he also became managing director of Fineco, its listed broking and online banking subsidiary. Alexander Boss has been promoted to be a member of the management committee of IFOS - Internationale Fonds Service - the fund management subsidiary of the Liechtenstein-headquartered VP wealth management and private banking group. Scottish Widows Investment Partnership has appointed Ketul Nandani as business development executive for the Nordic region. This is part of an ongoing expansion into northern Europe following the recent launch of its Luxembourg-based SICAV to the European institutional market. She joins from Nordea Investment Management where she was responsible for its business development. Before that, she was a financial adviser with Nordea Private Banking. Union Bancaire Privée has tapped Credit Suisse Asset Management to hire Tim Brown for its business development team with responsibility for UK consultant relationships. He will report to Terry Mellish, UBP's head of UK institutional business. Paris-based wealth manager Tocqueville Finance has appointed Jean-Philippe Thierry, chief executive of insurer AGF, as non-executive president of the board. The move follows his personal acquisition of a 34 per cent stake in the company from Eric Doutrebente, who has left the company to set up his own business. Credit Suisse Banque Privée France has appointed Bernard Corneau as senior private banker. After starting his career as a management consultant with Bossard-Cap Gemini in 1981, Mr Corneau joined Chemical Bank and later became a vice president, in charge of mergers and acquisitions, at JP Morgan Chase. Credit Suisse has made two appointments to strengthen the distribution of its institutional investment products in the Nordic and Baltic region. Peter Lindgren has been named as the head of regional institutional distribution, a newly-created role, with Peter Andersson responsible for regional retail distribution. Mr Andersson will be responsible for third party distribution of Credit Suisse's award winning retail funds in the region, and will report to Marnix van den Berge, head of Retail Distribution for Nordic and Benelux. He joins from Standard & Poor's where he was a product specialist on the company's fund data sales team. Credit Suisse has hired Ji Musil to be head of distribution for asset management in the Czech Republic. He will be responsible for both retail and institutional distribution covering the Czech Republic, Slovakia and Slovenia. He joins from BNP Paribas Asset Management, where he was a senior client relationship manager for the Czech Republic and Slovakia. Credit Suisse has also appointed Reginald Mills as a managing director and head of European Equity Private Placements in its Investment Banking division. He will be based in London and will join on 17 September. Mr Mills will be responsible for sourcing and executing private equity placements for clients seeking growth and acquisition finance in the EMEA region. Mr Mills joins Credit Suisse from N M Rothschild, where he was a managing director and head of their Private Equity Agency practice and was responsible for marketing and executing private placements. Prior to this, he held a number of positions at Credit Suisse in New York. Fortis Investments, the autonomous global asset management arm of the Fortis Group, has appointed Olivier Lafont as chief executive in Belgium with effect from 1 September. He was previously head of Belgian institutional sales. Mr Lafont replaces Peter De Proft who has left Fortis to join the European Fund and Asset Management Association. Crédit Agricole Asset Management and CAAM Group have appointed Yves Perrier as chairman and chief executive officer of the two companies. He will replace Thierry Coste, who is retiring at the age of 65. Paul-Henri de La Porte du Theil was confirmed as deputy chief executive of CAAM and CAAM Group, and Jean-Yves Colin as deputy chief executive of CAAM Group. International Edward Forst, chief administrative officer at Goldman Sachs, has been promoted to co-head of its investment management business. He replaces Eric Schwartz, who remains a director in the firm, but has retired from the investment practice. He has worked for Goldman Sachs for 23 years. Mr Forst, formerly executive vice president at the bank, will head the division alongside Peter Kraus. Mr Forst will stay in London, having moved to the UK capital from New York in March this year. Merrill Lynch’s Global Wealth Management group has appointed 14 new hires across the Europe, Middle East and Africa region as part of a continued strategy to strengthen its non-resident Indian business. Vinod Tailor has been appointed as business development manager for GWM NRI in London. He will focus on the promotion and sponsorship of events catering to the NRI market and maintain close strategic ties with key clients. He joins from Citi where he held a similar position and was instrumental in the development of the NRI business. In addition, 13 senior and experienced financial advisors have joined the team to service the Indian high net worth individuals segment. In Geneva, Khatija Ali Khan, previously at Deutsche Bank, and Wendy Woodward, who comes from Turicum Asset Management, have joined the NRI team. In London, Chetan Shah has joined the NRI team from Barclays along with Amit Banthiya, previously with ICICI Bank. Imran Hameed formerly of Deutsche Bank, and Mustafa Bilal, who comes from Credit Suisse, are also now part of the London team. In Dubai, Ravi Goyal and Nilesh Mashruwala, who come from Citibank, and Charudutta Joshi, who comes from ICICI bank, have been hired. They are joined by Manish Samel, Shampi Chopra, Mujtaba Moyene and Bikash Dalmia. Mr Samel comes from Union National Bank in Dubai while the rest were formerly of ABN Amro in Dubai. The Royal Bank of Canada has promoted Steve Sokiæ to director of wealth management strategy and business development in its private client fiduciary services business in the British Isles. He takes up his new post on 1 October. Mr Sokiæ is a trust director with RBC based in Jersey. In his new role, he will provide strategic and business development leadership and expertise to support the expanding RBC PCFS business in achieving revenue growth. Barclays Wealth has hired Ian Burns as regional head of its intermediaries and corporates business for the UK, Mediterranean, Middle East and Africa. He joins from Austrian RZB Group where he was most recently head of RZB’s UK business. In his new role, Mr Burns will be responsible for the businesses in London, Gibraltar, Cyprus, Malta, Nigeria, Dubai and South Africa. Northern Trust Global Investments, the multi-asset class investment management business of Northern Trust, has expanded its global quantitative management team with the addition of three portfolio managers and one investment strategist. Mark Sodergren will be a senior portfolio manager and researcher in the quantitative active team, responsible for research and implementation of several quantitative equity strategies, based in Chicago. He joins from Barclays Global Investors where he was a portfolio manager focused on active US large cap strategies. Scott Hammond joins the international index team as a portfolio manager to be based in New York. He was previously a senior international portfolio manager at Bank of New York. Greg Behar joins as investment strategist for the global quantitative team, also based in New York. He was a portfolio specialist for the active quantitative equity strategies at Deutsche Asset Management. Jacob Weaver will work in Northern Trust’s London office as head of the London and Tokyo-based global index portfolio management team. He has been promoted from within Northern Trust’s quant team where he was portfolio manager focusing on tax advantaged equity and structured small cap strategies in Chicago. Northern Trust Global Investments has also appointed Wayne Bowers to the newly created role of international chief investment officer, based in London. Middle East National Bank of Abu Dhabi has announced the appointment of Aref Al Khouri as general manager of Abu Dhabi National Islamic Finance, the Islamic finance subsidiary and the Islamic banking window of NBAD. Dr Ahmad Fufai Muhammad has been appointed as the new head of Sharia for the International Islamic Financial Market. Dr Muhammad's key responsibilities at the IIFM will be to co-ordinate all Shariah aspects of IIFM initiatives and projects with Shariah scholars in the Islamic capital and money market industry, as well as consult with other scholars. The Bahrain-based Global Banking Corporation has announced the appointment of Stuart Winwood as its chief operating officer. Previously Mr Winwood was chief financial officer at Saudi Hollandi Bank for five years, during which period he ran the bank's subordinated debt issue and headed its strategic change programme management office. Swiss private bank, Banque Piguet has opened a Dubai representative office. The establishment is staffed by Bahrain citizen Mohammed Ahmadi and Manmohan Sehgal, originally from India. Before joining Piguet, Mr Ahmadi worked for several years as a wealth manager at Mashreq Bank in Dubai. Mr Sehgal has spent most of his career in private banking with HSBC in Dubai. Bahrain-based investment bank Ithmaar has appointed Ravindra Khotas group chief financial officer. A chartered accountant, Mr Khot was previously vice president of financial administration at TAIB Bank. He will be responsible for planning, managing and directing the consolidated financial accounting and reporting of the bank and its subsidiary and associate firms, which include Swiss-based Faisal Private Bank, Pakistan-based Faysal Bank and Bahrain-based Shamil Bank of Bahrain.