This week in personnel announcements and new hires, IMCA announced new officers and a new member for its board of directors for 2014; Celine Colgan joined the Presidio Group; Girard Securities welcomed David Bombart; National Planning Corp. promoted Scott Montgomery; Jim Lammers became the new national president of the Society of Financial Services Professionals; and Franklin Templeton Investments hired Drew Carrington.
Also, BMO Asset Management expanded two of its groups with the addition of Christopher Keenan and Katherine DellaMaria; Commonfund expanded its West Coast presence; Emerging Global Advisors welcomed Edward Kerschner as vice chairman; Mercer named Richard Dell as global head of its equity boutique; U.S. Bank Wealth Management appointed Ryan Lange as a portfolio manager; and Dan Driscoll joined AFAM Capital.
IMCA Announces New Officers, Member for 2014 Board of Directors
Investment Management Consultants Association (IMCA) announced on Tuesday four new officers and one new member of its 2014 board of directors. The 13-member volunteer board governs IMCA and guides the organization as the fiduciary, policy-setting, and strategic governing body of the organization. The four new board officers are John Nersesian, chairman; Scott Thayer, vice chair; Kevin Sánchez, treasurer; and David Koulish, secretary. The new member is Dorothy Bossung.
Nersesian is managing director, Nuveen Investments in Chicago, and has been a board director since 2006. Previously he was a first vice president at Merrill Lynch’s private client group. He is practitioner faculty within IMCA’s certified private wealth advisor certification program.
Thayer is executive director and institutional consultant at Graystone Consulting/Morgan Stanley in Santa Rosa, and has been a board director since 2008. His office focuses primarily on middle-market foundation and endowment clients. Previously, he taught within the department of finance at Chico State University. He is practitioner faculty within IMCA’s certified investment management analyst registered program at the University of Chicago Booth School of Business.
Sánchez is senior institutional consultant, UBS Institutional Consulting, in Walnut Creek, and has served as a board director since 2012. He works with boards of nonprofit organizations, foundations, and endowments on prudent investment policies, portfolio design and implementation, and fiduciary liability review. His experience includes comprehensive wealth management for affluent families, and he lectures frequently on this topic. Sánchez served as chair of and board liaison to the IMCA annual conference committee for many years.
Koulish is senior vice president/regional investment practice leader, east region, Northern Trust, Miami, Fla., and has been a board director since 2012. He has more than 30 years of experience in portfolio and wealth management. Prior to joining Northern Trust in 1993, he was a senior vice president and portfolio manager at Key Trust Company of Florida in Orlando. He serves as chair of the editorial advisory board of IMCA’s Investments & Wealth Monitor publication.
Bossung is executive vice president at Lowery Asset Consulting, a Chicago-based RIA, and is a new director nominee as of January 1, 2014. She provides consulting services to Lowery’s institutional and family office clients; is active in manager research, tactical and strategic allocation decisions; and is a member of the firm’s investment committee. She serves on IMCA’s CIMA certification commission and wealth management committee.
Seven director-at-large positions remain filled by members serving 2013–2014 and 2014–2015 terms. IMCA’s current chair, Betsy Piper-Bach, serves an additional term as past chair through 2015.
The Presidio Group LLC announced recently that Celine Colgan has joined the firm as co-head and chief business officer of its outsourced investment office (OIO). As chief business officer, she takes on all administrative and operations functions for Presidio's OIO, including business development, strategy, marketing communications, client services, compliance, custodial relations, and asset security.
Colgan held a series of positions with increasing responsibilities before joining Presidio, first with Barclays Global Investors, and continuing after its acquisition by BlackRock in 2009. Most recently, she was managing director and team leader for the company's U.S. and Canada institutional group.
David Bombart Joins Girard Securities
Girard Securities welcomed David Bombart as the firm’s new vice president of recruiting. In his new role, he will not only work with prospective advisors, but will also work with existing advisors to create practice acquisition opportunities and develop succession planning strategies.
Bombart comes with nearly 15 years of industry experience. For the past seven years he has served in business development roles at such firms as LPL Financial, Cambridge Investment Research and, most recently, Cetera Advisors.
National Planning Corp. Promotes Scott Montgomery
National Planning Corp. (NPC), announced Tuesday the promotion of Scott Montgomery to senior vice president of new business development. He will be responsible for overseeing the firm’s new business development team and spearheading all recruiting initiatives. He will be based in Santa Monica and reports to John Johnson, NPC president and chief executive officer.
Montgomery brings more than 11 years of independent broker-dealer experience. Most recently, he served as vice president of new business development for NPC, where he was instrumental in establishing the firm’s newly enhanced recruiting incentive program. Prior to joining NPC, he was vice president of new business development for LPL Financial. He also has more than 12 years of sales experience as a product wholesaler and financial advisor. Montgomery has been in the financial services industry for more than 20 years.
Lammers Named President of Society of Financial Services Professionals
Jim Lammers of Lammers & Peters Wealth Plan in Omaha, Neb., has been named national president of the Society of Financial Services Professionals (FSP). Lammers, a 25-year member of FSP, is a registered representative of Securities America and an investment advisor representative of Securities America Advisors, wholly owned subsidiaries of Ladenburg Thalmann Financial Services. He served on the society’s national board of directors and as a past president of the society’s Omaha chapter.
Lammers started his career as a registered representative with IDS Financial Services in Ohio in 1970, and was promoted to district manager in 1976. In 1982 he was promoted to Omaha division vice president of IDS/American Express Financial Advisors. In 1995, he formed his own independent financial practice and selected Securities America as his broker-dealer.
Franklin Templeton Investments Hires Drew Carrington
Franklin Templeton Investments recently announced that Drew Carrington, a 25-year industry veteran, will join the firm as senior vice president and head of defined contribution — institutional, based in San Mateo, Calif. He will report to Scott Lee, head of institutional — U.S.
Carrington began his career in the financial services industry in 1988. He was head of the defined contribution and retirement solutions group at UBS Global Asset Management. Prior to that, as a senior fixed income portfolio manager, he worked closely with UBS’ asset-liability investment solutions team to design and implement the fixed income and duration overlay portions of asset-liability management strategies. Before joining UBS in 2005, he was a principal at Mercer Investment Consulting, where he worked with both public and private DB and DC clients.
BMO Global Asset Management Expands Groups with Keenan, DellaMaria
BMO Global Asset Management recently announced the expansion of its securities lending and short duration fixed income groups with the addition of Christopher Keenan as senior securities lender/trader and Katherine DellaMaria as portfolio manager. Both are based in Chicago.
With more than 10 years of industry experience, Keenan will be responsible for the control and coordination of the securities lending trading desk and trading/lending within client portfolios. His previous roles include senior international equities trader, fixed income trader and senior investment risk analyst at leading organizations, with a heavy focus on international portfolio management and strategies.
DellaMaria will provide analytical and liquidity support for mutual funds and separately managed strategies. In her most recent role, she was a fixed income product specialist for BMO Global Asset Management's long-term bond manager Taplin, Canida and Habacht. She has over a decade of industry experience.
Commonfund Broadens West Coast Presence
Commonfund announced Monday several additions to its West Coast office. Kent Scott, managing director, Commonfund Capital, will relocate from company headquarters in Wilton, Conn. to the San Francisco office. There he will be joined by new hires Jeffrey Stabler, managing director of consultant relations, and client service directors Jennifer Seidler and Issa Brandt.
Scott, an 11-year veteran of Commonfund Capital and a member of the wholly owned subsidiary of Commonfund’s senior team, will be responsible for serving current clients as well as sales and service to new investors. He has over 22 years of investment, lending, direct private equity and financial accounting experience.
Stabler previously served as vice president, global consultant relations for WHV Investment Management. Earlier, he was director, head of consultant relations for RCM, a company of Allianz Global Investors, from 2000-2011.
Seidler joins from an independent consulting practice in San Francisco where she advised on cash management strategies, fixed income and other investments; created valuation models and conducted necessary due diligence on potential investments. Prior to that, she served at Royal Bank of Canada in San Francisco as senior financial associate, corporate cash management from April 2009 through March 2011.
Brandt is a client relations professional with more than 12 years’ experience in the asset management industry. He joins from Allianz Global Investors/RCM in San Francisco, where he was relationship manager, client relations and marketing group from January 2007 to the present. Prior to that, he served RCM Capital Management in San Francisco as senior associate relationship manager, client relations and marketing group, from 2005–2007; and as associate relationship manager from 2000–2005.
Ed Kerschner Joins Emerging Global Advisors
Emerging Global Advisors announced recently that Edward Kerschner has joined as vice chairman. In his new role, he will be responsible for helping wealth managers understand investment opportunities in developing markets.
He has 35 years of experience in the securities industry across a number of strategy roles, including chief investment strategist and chairman of the investment policy committee at PaineWebber, chief global strategist for UBS Investment Research, chief investment officer for Citi Investment Research and chief investment strategist for Citi Global Wealth Management. After leaving Citi, he continued as a senior strategy consultant to Morgan Stanley Smith Barney and was a member of the Morgan Stanley Smith Barney global investment committee through 2012. Since 2001, he has been an adjunct professor of finance at the New York University Graduate School of Business Administration.
Mercer Appoints Richard Dell as Global Head of Equity Boutique
Mercer has appointed Richard Dell as global head of its equity boutique, succeeding Deb Clarke, who was recently appointed as global head of investment research. In this role, he will have global responsibility for the equity research team, which provides research on equity fund managers and strategies across the global markets. The equity boutique is also responsible for developing and producing intellectual capital providing advice to clients on future investment opportunities.
Prior to this appointment, Dell was a senior researcher covering global equities, world ex-U.S. and those in the emerging markets. He joined Mercer in 2008 and is based in London. Before joining, he held positions at Fidelity Worldwide Investments (competitor and fund analysis) and Merrill Lynch Investment Managers (information research).
Ryan Lange Named Portfolio Manager for Sioux Falls U.S. Bank Wealth Management
U.S. Bank Wealth Management announced recently that Ryan Lange has been appointed a portfolio manager in Sioux Falls, S.D.
Lange has previously held investment management and equity research positions at Wells Fargo and, most recently, at Northern Trust.
Dan Driscoll Joins AFAM Capital as Vice President, Northeast Regional Sales Director
AFAM Capital announced that Daniel Driscoll has been appointed vice president, northeast regional sales director. He will primarily focus on sales for the tactical ETF products offered by AFAM’s Innealta Capital division. In this newly created role, he will be responsible for business acquisition and retention as well as advisor education throughout the northeast territory, extending from the northern tip of Maine down to the mid-Atlantic region. He is based in Boston and will report to Scott Silverman, senior vice president of business development at Innealta Capital.
Driscoll previously spent 12 years at Congress Asset Management in Boston, where he was most recently a vice president and regional director in charge of business and client service in the New York metro area. Prior to that, he worked at Boston Capital for six years in a variety of sales positions.
Read the Sept. 25 New Hire Roundup at ThinkAdvisor.