? Sallie Krawchek, most recently CEO of Global Wealth Management at Citigroup, has joined Bank of America to run Global Wealth and Investment Management and be a member of the executive management team, according to an announcement from Ken Lewis, CEO and president of Bank of America. A number of other appointments at BofA were announced simultaneously: Brian Moynihan, currently head of Global Corporate and Investment Banking and of Global Wealth Management, will become head of Consumer Banking; and Tom Montag, who currently runs Global Markets for the company, will also run Global Corporate and Investment Banking. ? Michael Reidy has joined Rydex/SGI’s distribution arm as managing director for the insurance and subadvisory markets. ? Eric Spitler has been named counselor to the chairman and director of the Office of Legislative and Intergovernmental Affairs at the SEC, according to an announcement from Chairman Mary Schapiro. Spitler most recently served as director of the Office of Legislative Affairs at the Federal Deposit Insurance Corporation (FDIC). In that position he advised the FDIC chairman, board, and senior management on policy and legislative matters.
? Donald Hunter has been named CEO and president of Westrock Group and its wealth management subsidiary, Westrock Advisors. The firm has also announced that Douglas Sherman, Paul Krake, and David Brown have joined the team and will form the nucleus of Westrock Institutional Group, a new group subsidiary dedicated to serving the needs of institutional clients, and Westrock Asset Management, which will be a separate entity that will provide asset management services. ? HFBR Fund Advisers has announced the portfolio managers who will succeed Akre Capital Management in managing the FBR Focus Fund (FBRVX). David Rainey, Brian Macauley, and Ira Rothberg, who previously served with Akre Capital Management as the analytical team supporting FBR Focus, have joined FBR Fund Advisers to serve as co-portfolio managers of the Fund.