This week in new hires, Morningstar promoted Kunal Kapoor; Chilton Trust was approved by the Florida Office of Financial Regulation; Duff & Phelps announced a new independent broker-dealer due diligence practice; and Deutsche Bank Wealth Management welcomed three.
Also, Putnam Investments named new external wholesalers; Michael Hatch went to Citi Private Bank in Seattle; Hatteras Funds welcomed Thomas Reigert; and Global View Capital Management announced its registration with the SEC.
Kunal Kapoor Promoted to President of Morningstar's Data Division
Morningstar announced Tuesday that Kunal Kapoor has been promoted to president of Morningstar’s data division, effective June 4. Kapoor will replace Liz Kirscher who, as previously announced, is leaving the firm in June.
Kapoor joined the company in 1997 as a data analyst. He was a fund analyst for three years and in 2001 became a senior research analyst for Morningstar Investment Services, a registered investment advisor and wholly owned subsidiary of Morningstar. He was appointed director of mutual fund analysis in 2004 and director of business strategy for Morningstar’s international operations in 2006. He also served as president and chief investment officer of Morningstar Investment Services. In 2009, he became president of individual investor software, including Morningstar.com, the firm’s investment website. In 2010, his role expanded to include equity data and, more recently, real-time data.
Chilton Trust Company Receives Approval to Exercise Trust Powers
Chilton Trust Company, which was founded as Chilton Trust Management in June 2010, announced recently that it has become the first trust company to be approved by the Florida Office of Financial Regulation since 2004. Chilton Trust advises and provides bespoke private wealth management services to ultra-high net worth individuals, families and foundations. With this approval, it is now also empowered to act as the executor/personal representative and trustee of estates and trusts.
The firm is based in Palm Beach, Fla., under the direction of Garrison D. Lickle, president and CEO. It provides family office services, asset allocation advice, management of separate portfolio accounts, tax advice, trust and estate administration and planning (in conjunction with its clients’ advisors), and full fiduciary services. Some of these services are provided through Chilton Private Clients, Chilton Trust’s affiliate in New York and Connecticut.
Duff & Phelps Announces Independent Broker-Dealer Due Diligence Practice
Duff & Phelps Corp. recently announced that it has established an independent broker-dealer due diligence (IBDDD) practice. The practice operates within the firm’s alternative asset advisory business.
The IBDDD team relies on the experience and resources of the operational risk due diligence practice, which provides institutional investors with independent assessments and diligence relating to some of the world’s largest hedge funds and private equity firms. In addition, the IBDDD team will leverage company professionals with specializations in real estate, energy and mining, machinery and equipment valuation, portfolio valuation, complex asset solutions and fraud, forensic and investigative services. Duff & Phelps also provides IBDDD reporting services to address current and proposed regulatory mandates regarding dividend sustainability, as well as client statements pricing and valuation.
Deutsche Bank Alex. Brown, the U.S. Private Client Services (PCS) division of Deutsche Bank Securities and Deutsche Bank Private Wealth Management, announced Monday that Gregory Barr, Ruth Sember and Jeffrey Tompkins, all three formerly of Morgan Stanley Smith Barney (formerly Smith Barney), have joined the bank as directors and client advisors in its Palm Beach office. They will report to James Zahringer, a managing director and Florida regional executive.
Barr brings 26 years of experience (23 years at Smith Barney), most recently as a senior vice president, financial planning specialist and retirement plan consultant.
Sember brings 23 years of experience, most recently as a senior vice president and financial planning specialist.
With more than 28 years of experience in the financial services industry, Tompkins was formerly a senior vice president and financial planning specialist at Morgan Stanley Smith Barney. Previously, he worked at Drexel Burnham Lambert.
Putnam Investments Names New External Wholesalers
Putnam Investments recently named eight new additions to its external wholesaling team. New to the firm are Daniel Greene, covering Tennessee and Kentucky; he joins from Sun Life Financial Distributors with 10 years of industry experience; Pat Haley, covering Oregon, and an internal Putnam promotion with 6 years of experience; Paul Hallisey, covering Virginia, also an internal Putnam promotion with 6 years of experience; and Chad Kastner, covering Minnesota, Iowa, parts of Wisconsin, and North and South Dakota, who comes from Sun Life Financial Distributors with 15 years of experience.
Also added to the team are Kyle Lopriore, covering Northern California, another internal Putnam promotion with 6 years of experience; Joseph McMenamin, covering northern and central New Jersey and coming from Hatteras Funds with 20 years of experience; Rachel Moran, covering Los Angeles and joining from Dreyfus Investments with 6 years of experience; and David Taylor, covering northern Texas and Louisiana and coming from Edward Jones Investments with 17 years of experience.
Putnam also noted that it was also recognized in an April 2012 research report by kasina in which financial intermediaries rated Putnam Investments’s external wholesalers first for their needs-based approach. The report also indicated that advisors participating in the study had rated Putnam first in a series of additional categories.
Citi Private Bank Hires in Seattle
Citi Private Bank announced Monday that Michael Hatch has joined the firm’s Seattle office as director and ultra-high-net-worth private banker. He will report to Nancy Pellegrino, head of Citi Private Bank’s Pacific Northwest region.
Hatch is a Seattle native and joins from J.P. Morgan Private Bank, where he was a vice president and private banker. Prior to that, he worked for Sanford Bernstein. He began his career at Goldman Sachs as a financial analyst.
Hatteras Funds announced Tuesday that Thomas Riegert has joined the firm as associate, portfolio management. In this role, he will support portfolio and risk management, manager research and due diligence for the Hatteras Alternative Mutual Funds.
Prior to joining, Riegert was investment manager and assistant vice president in wealth management with Wells Fargo in Charlotte, N.C. Previously he served as associate portfolio manager and quantitative research analyst at Evergreen Investments.
Global View Capital Management Announces SEC Registration
Global View Capital Management announced on Tuesday its recent registration with the SEC. The Milwaukee-based firm has more than 100 advisors across the United States and Canada, and has hired Jim Wawrzyniakowski as chief compliance officer. He brings more than 10 years of compliance experience to the firm. Its president, Dina Fliss, has more than 28 years in the financial industry.
Two strategic partnerships have been solidified as a result of the recent SEC registration. The first is with Jerry Wagner, president of Flexible Plan Investments, Ltd., who brings more than 40 years of portfolio design and market analysis. The second strategic is with David Morton, founder and president of AdvisorGuide, LLC, who has been hired as director of research. He brings more than 30 years of experience in the financial services industry.