January 19, 2012

New Hire Roundup: SEC Welcomes Norberg; Fleming Joins FINRA Board

Anderson goes to Securities America; Dorfman goes to Trim Tabs

This week in new hires, Jane A. Norberg joined the SEC as deputy chief of the Whistleblower Office; Gregory J. Fleming was elected to FINRA's board of directors; Mike Anderson went to Securities America; and Dan Dorfman joined Trim Tabs Money Blog as a columnist.

Also, Castle Oak named Milton Irvin to chair its advisory board; Prudential Retirement announced several appointments; RS Investments named Matthew Scanlan CEO; Barclays Wealth Trustees named David Chambers president; Prairie Capital announced new hires and a new office; and Will Stites joined Frontier Asset Management.

SEC Names Jane Norberg as Deputy Chief of Whistleblower Office

The SEC announced Tuesday that Jane A. Norberg has been appointed as deputy chief of the Office of the Whistleblower, which oversees the agency’s whistleblower program, established by the Dodd-Frank Wall Street Reform and Consumer Protection Act. She joins with 14 years of experience at her own law firm and at Shearman & Sterling; at both, she advised major public corporations regarding executive compensation disclosure, corporate governance issues and other securities laws matters.

Prior to that, she served as a special agent for the U.S. Secret Service where she worked with confidential informants in planning, organizing, and conducting investigations of federal crimes including telecommunications and bank fraud, counterfeiting of U.S. currency, and forgery of federal checks and bonds.

Large Firms Elect Gregory Fleming to FINRA Board of Governors

The Financial Industry Regulatory Authority (FINRA) announced Jan. 12 that Gregory J. Fleming, president of Morgan Stanley Smith Barney and of Morgan Stanley Investment Management, was elected as a large firm governor to FINRA's board of governors. He fills the seat vacated by Sallie L. Krawcheck, former president of Global Wealth & Investment Management, Bank of America.

FINRA has a 22-person board, with 11 seats held by public governors and 10 by industry governors. FINRA's CEO fills the remaining seat. Large firms, of 500 or more registered persons, and small firms, of 150 registered persons or fewer, each have three seats. Medium-sized firms, with 151–499 registered persons, have one seat.

Securities America Adds Anderson to Executive Leadership

Mike AndersonSecurities America announced Tuesday that it has hired Mike Anderson (left) to the new position of first vice president of financial institutions and business growth. In this position, he will provide senior management leadership of its financial institutions division serving banks and credit unions, and assist with relationship management, business growth, and mergers and acquisitions.

A former president of Accutrade and Ameritrade Inc., Anderson has more than 20 years of industry experience. Prior to joining, he was vice president of development and executive coach for Leadership Resources. While president of Ameritrade Inc., he directed a fast-paced environment, employed changing technologies, expanded facilities and with a staff of 1,200, grew accounts from 98,000 to 641,000 in 18 months. Anderson also was the founding vice president of Ameritrade Advisor Services. After 10 years with Ameritrade Holding Corporation, Anderson was president of InfoUSA, and a principal at Charter Hill Partners.

Dan Dorfman Joins TrimTabs Money Blog as Columnist

TrimTabs Investment Research announced Tuesday that that veteran business journalist Dan Dorfman has joined its TrimTabs Money Blog with a regular column, "Dorfman and Dollars." The blog is focused on giving sophisticated individual investors an edge in the markets.

Dorfman has been a major columnist and commentator on Wall Street and business at media outlets such as the Wall Street Journal, CNN, CNBC and USA Today.

CastleOak Securities Announces Appointment of Milton M. Irvin as Advisory Board Chair

CastleOak Securities announced Tuesday the appointment of Milton M. Irvin as chairman of its board of Advisors. A former managing director, and Americas head of diversity and inclusion for UBS, he brings over 30 years of experience in the financial services industry. Before joining UBS, he served as president and COO of Blaylock & Partners, a minority investment banking firm, and Imbot.com, an Internet startup. Previously he spent nearly 20 years at Salomon Brothers, holding positions in fixed income sales and sales management.

Irvin serves on the Wharton graduate executive board. In 1994, President Clinton appointed him to the advisory committee of the Pension Benefit Guaranty Corporation, where he served as its chair from 1995 to 1998. A founding member of the Executive Leadership Council, he serves on its foundation board.

Prudential Retirement’s Total Retirement Solutions Announces Key Leadership Appointments

Prudential Retirement, a business unit of Prudential Financial, Inc., announced Jan. 13 the appointment of Sean McLaughlin as vice president, client relations and business development, within its total retirement solutions area effective Feb. 1. In this new position, he will report to George Castineiras and lead sales, key accounts, consulting services, sales support, education and enrollment.

Before assuming this role, McLaughlin served as vice president, strategy, planning, communications and risk management. He joined Prudential Retirement following a career with McKinsey & Company, a global management consulting firm.

Prudential Retirement also announced that, effective immediately, Yong Lee has been promoted to chief operating officer of MullinTBG, its nonqualified business. Lee will be responsible for MullinTBG's overall corporate strategy and oversee the company’s operations, administrative, financial and sales functions, including efforts to capitalize on key distribution channel opportunities. He will also report to Castineiras. Lee was formerly MullinTBG’s chief information officer.

Dan Banis, formerly interim general manager of MullinTBG, has been appointed head of strategy and planning. In this new role, Dan will report to Lee and be responsible for MullinTBG Advisors, compliance, plan design specialist, and analytical services teams.

RS Investments Names Matthew H. Scanlan as CEO

Matthew ScanlonRS Investments announced on Jan. 4 the appointment of Matthew H. Scanlan (left) as chief executive officer. He will succeed Terry Otton, who announced his intention to retire late in 2010. To assure a seamless transition, Otton has agreed to remain on as an advisor to Scanlan for the foreseeable future.

Scanlan previously served as president and CEO of Renaissance Institutional Management, where he was responsible for overseeing the firm's institutional investment business. Prior to that, he managed Barclays Global Investors’ institutional business, focusing on the corporate and public defined benefit and defined contribution markets, as well as endowments and foundations. He also previously served as a senior portfolio manager at The Northern Trust Company in Chicago.

Barclays Wealth Trustees (U.S.), N.A. Names David Chambers President

Barclays Wealth Trustees (U.S.), N.A. announced Wednesday that it has named David Chambers as president. As an affiliate of Barclays Wealth and part of a global network of Barclays trust institutions under its wealth advisory umbrella, Barclays Wealth Trustees provides high-net-worth clients with fiduciary, administrative and investment management services. Chambers, also a director at Barclays Wealth, brings more than 30 years of experience, and will be responsible for managing the trust company.

Previously he held several senior trust roles, including founder of a Florida state-chartered trust company, executive vice president at Bryn Mawr Trust Company in Pennsylvania, and chief operating officer at Bessemer Trust Company in New York as well as head of both personal and international trust services during his 12 years at Merrill Lynch, in addition to other roles.

Prairie Capital Advisors Announces Strategic New Hires and New Office Location

Prairie Capital Advisors, Inc. announced Tuesday that it has hired Malcolm "Mike" Hartman as managing director and Michael McGinley as vice president, to launch their new office location in Atlanta. Hartman brings over 20 years of transaction and ESOP experience to the firm; prior to joining, he was managing director and director of ESOP practice at Willamette Management Associates, based out of Atlanta.

McGinley is a veteran corporate financial advisor with ownership transition and business valuation experience. Prior to joining, he was a manager at Willamette Management Associates, also based in Atlanta.

Will Stites Joins Frontier Asset Management as a Managing Director

Frontier Asset Management announced on Jan. 10 that Will Stites has joined the firm as a managing director. In this role, he will cultivate new business relationships with financial advisors and provide service to  existing clients. He will also serve as a member of Frontier's investment committee.

Stites started his career in financial services at Portfolio Management Consultants (PMC, now an affiliate of Envestnet) in 1998. After leaving PMC, he held various positions with Zurich Capital Markets, BNP Paribas, JP Morgan and the Commonwealth Bank of Australia. At these firms, he held leadership roles in New York, Tokyo, Hong Kong and Sydney, Australia.

Read the Jan. 12 New Hire Roundup at AdvisorOne.

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