July 31, 2013

New Hire Roundup: Goldman, Nelson Move Up at NFP; New Vice Chair at FASB

James Kroeker named Vice Chair of Financial Accounting Standards Board; more

This week in new hires, Michael Goldman became chief operating officer and Carl Nelson head of mergers and acquisitions at NFP; Jay Sommariva went to Fort Pitt Capital Group; James Kroeker was named vice chairman of the FASB; and John Taft of RBC Wealth Management became a LinkedIn Influencer.

Also, Thomas Johnson and Sheri Rhyan joined the Minneapolis office of JHS Capital; Mirae Asset Global Investments welcomed John Whitaker and promoted John Capeci to its sales team; and the MSRB announced new board officers and members for FY 2014.

NFP Names Goldman COO; Nelson Appointed Head of M&A

National Financial Partners Corp. announced Monday that Michael Goldman was appointed chief operating officer effective July 1, and that Carl Nelson, senior vice president of mergers and acquisitions (M&A), has been named head of M&A. As COO, Goldman will report directly to Douglas Hammond, chief executive officer, and will oversee capital deployment initiatives, including strategic acquisitions and management contract buyouts. He will also focus on operational initiatives that advance strategy and enhance the ability to serve clients.

Goldman, who most recently served as executive vice president of M&A, was named SVP of M&A in 2005 and EVP of NFP in 2008. Previously, he served as SVP and associate general counsel for the company. He began his career as an associate in the M&A department of the law firm Skadden, Arps, Slate, Meagher & Flom LLP.

Nelson joined in 2001. Prior to joining, he guided M&A efforts at Ernst & Young LLP and Pricewaterhouse Coopers LLP.

Fort Pitt Capital Group Welcomes Jay Sommariva

Fort Pitt Capital Group announced Tuesday the addition of Jay Sommariva to direct the firm’s fixed income team. As vice president and senior fixed income portfolio manager, Sommariva will be responsible for analyzing and allocating the company’s fixed income portfolios.

Prior to joining, Sommariva served as vice president and senior portfolio manager at BNY Mellon in Pittsburgh. He also held posts at Northern Trust and Mellon Financial Corporation, totaling 20 years of experience in the industry.

James Kroeker Named Vice Chair of Financial Accounting Standards Board

The board of trustees of the Financial Accounting Foundation (FAF), which oversees the Financial Accounting Standards Board (FASB) and its sister organization, the Governmental Accounting Standards Board (GASB), has announced that James Kroeker, former chief accountant for the SEC, has been appointed a member and vice chairman of the FASB. His term will begin September 1 and conclude on June 30, 2018, when he will be eligible for appointment to an additional term of five years. He fills a vacancy created by the retirement on June 30 of Leslie Seidman, former FASB chairman. The position of vice chairman was created early in the FASB’s history, but was later retired. In response to increasing demands on the time of the FASB chairman, the FAF trustees decided to reinstate the position.

Kroeker was the SEC’s chief accountant from 2009 to 2012, following two years of service as deputy chief accountant. Prior to that, he was a partner in the national office accounting services group of Deloitte & Touche, LLP, based in Wilton, Conn. Between 1999 and 2001, he was a practice fellow at the FASB, leading the project that resulted in a new standard for accounting for stock compensation. Earlier in his career, he worked at Deloitte offices in Wiltona nd Omaha, Neb. Most recently, he was a deputy managing partner in the professional practice group in Deloitte’s office in Washington,D.C.

John Taft Becomes LinkedIn Influencer

RBC Wealth Management-U.S CEO John Taft has premiered as a LinkedIn Influencer on the popular social networking website. Influencers are a group of approximately 250 professionals who regularly share insights with more than 225 million LinkedIn members. As an Influencer, he will be contributing original content on a variety of topics from financial and economic concerns to leadership and stewardship.

Taft established a voice in the industry with the 2012 publication of his book Stewardship: Lessons Learned from the Lost Culture of Wall Street, which looks at the 2008 financial crisis and relays his conviction that service and stewardship can be an answer to minimizing future financial crises and societal problems.

JHS Capital Adds Johnson, Rhyan in Minneapolis Office

JHS Capital Advisors announced that it has appointed Thomas Johnson, a 34-year veteran of the financial services industry, as a vice president of investments, financial advisor, and Sheri Rhyan as a registered client associate, both based in its Minneapolis office.

Johnson works with high-net-worth clients, including families, business owners and retirees, to create personalized strategies for accumulating, protecting and transferring wealth. Prior to joining, he spent six years at RBC Wealth Management, and also worked for Piper Jaffray’s asset management business for 28 years.

Rhyan served as a registered associate at Benjamin F. Edwards & Co. and a compliance specialist at Focus Financial, Inc. prior to joining. She also helped open the first Raymond James & Associates office inMinneapolisin 2006, and spent nine years at Piper Jaffray.

Mirae Asset Global Adds Whitaker, Advances Capeci to Sales Team

Mirae Asset Global Investments (USA) LLC announced Tuesday that John Whitaker has joined the firm's sales team. He has been appointed regional vice president, emerging market specialist, and will cover wholesaling efforts inOhioandMichigan. In addition, John Capeci has been promoted to head of national accounts. Both report to Robert Mulligan, head of sales and distribution.

Whitaker joins from the Bank of New York Mellon Asset Management/Dreyfus, where he served as senior regional consultant, mutual fund sales, based inNew York. Prior to that, he was a financial advisor at UBS PaineWebber, then a business banker at Key Bank, both in Cleveland, Ohio.

Capeci was formerly SVP, strategic relationship manager.

MSRB Announces New Officers, Board Members for FY 2014

The Municipal Securities Rulemaking Board (MSRB) has announced new officers and members of its board of directors, who will begin their terms on October 1, 2013. Daniel Heimowitz, managing director at RBC Capital Markets, will serve as chair; Joseph Geraci, managing director and co-head of municipal markets at Citi, will serve as vice chair. Officer terms are for one year.

The new board members represent the public as well as entities regulated by the MSRB. New public representatives are Robert Cochran, co-managing director and chairman of the board at Build America Mutual Assurance Company; Lakshmi Kommi, director of debt management for the city of San Diego, Calif.; Christopher Ryon, managing director at Thornburg Investment Management; and Colleen Woodell, former chief credit officer of global corporate and government ratings for Standard & Poor’s.

Joining as securities firm representatives are James McKinney, senior advisor at William Blair & Company, and Brian Wynne, co-head of public finance and head of the municipal syndicate desk at Morgan Stanley. Nathaniel Singer, managing director at Swap Financial Group, joins as a municipal advisor representative.

Heimowitz was a managing director in Lehman Brother's public finance group. He joined Lehman Brothers after a 19-year career with Moody's Investors Services.

Geraci was formerly co-head of Citi’s municipal financial products group.

Cochran was formerly CEO and chairman of the board of directors at Financial Security Assurance.

Kommi has over 19 years of experience in municipal finance in an issuer capacity, has worked for the city of San Diego since 1994 and has held positions as a supervising economist and deputy director of San Diego’s financing services division.

McKinneyhas worked for William Blair & Company since 1974, and has 42 years of experience in the development and marketing of fixed-income securities.

Ryon was formerly head of Vanguard’s long municipal bond group. He also held positions with the accounting firms Laventhol & Horwath and Ernst & Whinney.

Singer was formerly senior managing director and COO for Bear Stearns & Co. Inc.’s municipal bond department.

Woodell was chief quality officer and team leader for U.S. Public Finance at Standard & Poor’s, and has also worked for First Albany Corporation, Fitch Investors Service and Moody’s Investors Services.

Wynne, with Morgan Stanley for over 24 years, previously served as a municipal underwriter at Alex Brown & Sons. He began his career at Salomon Brothers in syndicate operations and municipal underwriting.

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Check out last week's New Hire Roundup: INTECH Names Leonardi Head of Consultant Relations at ThinkAdvisor.

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