This week in new hires, Patrick Bannigan joined American Century as chief operating officer, Monte Garpestad went to Securities America, and the Retirement Income Industry Association named Peng Chen academic curriculum director of its retirement management analyst curriculum.
Also, Irwin Menken of C3 Software joined Avalon Lake Partners, NAREIT named its 2013 leadership team, and U.S. Bank announced three new appointments.
American Century Investments Names Patrick Bannigan EVP, COO
American Century Investments announced the appointment of Patrick Bannigan to executive vice president and chief operating officer (COO), effective Nov. 5. Bannigan succeeds current COO Barry Fink, who is retiring from the firm in February but will continue his role as an American Century mutual fund board director. Bannigan will also serve on the management committee.
Bannigan’s most recent position was with RiverSource (now Columbia Management and part of Ameriprise Financial), where he served as president of RiverSource Funds and SVP and general manager of RiverSource Investments. Previously, he was managing director and global head of product for Morgan Stanley Investment Management. Earlier, he served as president of Touchstone Investments, and also had experience with Evergreen Investments. Previously, he was with Alliance Capital Management, where he was a member of its legal department.
Securities America Hires Monte Garpestad
Securities America announced that it has hired Monte Garpestad to the position of senior regional director of branch office development for the upper northwest region.
Garpestad recently relocated to Omaha from the Seattle area and will be located out of the firm’s home office. He spent more than 20 years at Charles Schwab, where he was a registered representative, branch manager, senior investment center sales manager and vice president.
RIIA Names Peng Chen Academic Director
The Retirement Income Industry Association announced on Tuesday that Peng Chen(left), CEO of Dimensional Fund Advisors, Asia, has been named academic curriculum director of the RIIA’s Retirement Management Analyst (RMA) advanced education program.
According to Francois Gadenne, executive director and chairman of the organization, Chen "will oversee and review the academic and scholarly direction of the evolving RMA curriculum, as well as edit and review submissions of annual updates to the RMA textbook and Retirement Income Body of Knowledge, which are the foundation of the RMA program of study.”
Chen, a longtime Morningstar and Ibbotson executive, surprised industry watchers in May when he announced his departure from the Chicago-based research and investment firm.
The reason given at the time by Morningstar chairman and CEO Joe Mansueto was that Chen was moving to Asia to be closer to his family.
Read the full story, RIIA Names Peng Chen, at AdvisorOne.
Irwin Menken, founder and president of software company C3 Compliance LLC, has joined Avalon Lake Partners, where he will support Avalon Lake’s sales operations and technology implementation, expanding its product base and integrating C3, a proprietary Web-based regulatory infrastructure tool, with the firm’s existing compliance offerings. C3 assists hedge funds and broker-dealers with document aggregation, document audit trails and calendaring as these tasks relate to SEC and FINRA compliance.
Menken is a director at Avalon Lake Partners. Prior to relaunching C3 in 2009, he built the infrastructure for a hedge fund, including all physical and operational aspects of the firm as well as marketing and compliance. He has also run marketing and publishing firms and formerly served as president and partner at Communique Advertising. In 1999 and 2000 Menken was CEO of Consolidated Publishing Group.
NAREIT Names 2013 Leadership Team; Edward Walter to Serve as Chairman
The National Association of Real Estate Investment Trusts (NAREIT) announced Monday the election of its 2013 officers, as well as the members of its executive board, board of governors and audit and investment committee.
Elected chair was W. Edward Walter, president and CEO of Host Hotels & Resorts. Other NAREIT officers for 2013 are First Vice Chairman Ronald L. Havner, chairman, president and CEO of Public Storage; Second Vice Chairman Michael D. Fascitelli, president and CEO of Vornado Realty Trust; and Treasurer David J. Neithercut, president and CEO of Equity Residential. All NAREIT’s officers also are members of its executive board.
Also serving on NAREIT’s 2013 executive board are: Jon E. Bortz, chairman and CEO, Pebblebrook Hotel Trust; Richard J. Campo, chairman and CEO, Camden Property Trust; Andrew F. Jacobs, president and CEO, Capstead Mortgage Corp.; Edward J. Fritsch, president and CEO, Highwoods Properties; David B. Henry, president and CEO, Kimco Realty Corp.; Rick R. Holley, president and CEO, Plum Creek Timber Co.; Dennis D. Oklak, chairman and CEO, Duke Realty Corp.; Steven B. Tanger, president and CEO, Tanger Factory Outlet Centers; Robert S. Taubman, chairman, president and CEO, Taubman Centers; and Thomas W. Toomey, president and CEO, UDR, Inc. Past NAREIT chairman is Donald C. Wood, president and CEO, Federal Realty Investment Trust.
U.S. Bank Names Three
U.S. Bank announced Tuesday three new personnel appointments in Seattle. Lisa Simonson and Kato Wade are the newest members of the Ascent Private Capital Management team, and Jorgen Gustafson will join the Private Client Reserve of U.S. Bank.
Simonson will serve as director of financial administration, where she will provide comprehensive planning and financial administration services to ultrahigh-net-worth clients.
Wade has been named director of client experience and will oversee the delivery of services and solutions for the firm's UHNW clients.
Gustafson has been named vice president, senior portfolio manager for the Private Client Reserve, and will provide clients with integrated and customized investment services.
Read the Oct. 31 New Hire Roundup at AdvisorOne.