This week in new hires, the Seiler brothers went to Raymond James, while Greg Williams was named to a new position there; Carson Wealth Management launched its own RIA; and Aaron Cooper and Richard Perkins went to Putnam. Mehras joined UBS Wealth Management Americas; Robert Robis went to ING; Edelman Financial opened a new office; MP&S added Eric Kreuter as a partner; and Chris Ashe went to New York Life.
Also, Matt Dean went to LTCI Partners and Kennedy Capital Management added Nikki Baker to its compliance team.
Raymond James Grabs $500 Million Morgan Stanley Team
A high-net-worth team that manages more than $500 million joined Raymond James & Associates from Morgan Stanley Smith Barney, Raymond James said Monday. Thomas A. Seiler and his brother Patrick M. Seiler, CIMA, CFP, are now part of the Newtown, Pa.-based employee-channel office of Raymond James.
Thomas Seiler began his financial services career in 1990 at Merrill Lynch. Patrick Seiler started his financial career in 1995 with A.G. Edwards, moving subsequently to partner with Thomas at Merrill Lynch. The two moved to Smith Barney in 2005.
Williams Named to Private Client Group Managing Director at Raymond James
On Tuesday, it was announced that Greg Williams has been chosen to fill the new position of senior vice president and managing director of private client group administration. To improve productivity, Williams will work with other private client group leaders to further align functions supporting Raymond James financial advisors and their clients. He will report directly to Raymond James Chief Operating Officer Chet Helck.
Williams, a 17-year veteran of Raymond James, is currently chief administrative officer for subsidiary Raymond James Financial Services and a member of the RJFS board of directors. He previously worked in accounting and asset management services.
Carson Wealth Management Launches RIA Firm CWM, LLC
Carson Wealth Management Group, an independent investment and wealth management firm with over $3 billion in assets under advisement, on July 20 announced the launch on July 1 of its own independent RIA: CWM, LLC. The RIA will be led by Ron Carson, with newly appointed CIO Rob Isbitts closely involved in the firm’s investment strategy and portfolio selection.
Carson Wealth Management Group’s new RIA will continue to work with its long-time, valued partner LPL Financial, which will serve as the firm’s primary custodian. The RIA firm will also maintain custodial relationships with TD Ameritrade and Charles Schwab Institutional.
Putnam Investments Adds Cooper, Perkins
Putnam Investments announced Tuesday that it has named Aaron M. Cooper director of global equity research and Richard (“Shep”) Perkins co-head of international equities. Perkins will partner with London-based Putnam veteran Simon Davis, and all three managers will report directly to Walter C. Donovan, Putnam’s chief investment officer.
Cooper will also be portfolio manager on Putnam Research Fund and Putnam Global Sector Fund, joining the analysts who are currently listed as portfolio managers on the funds. Perkins will be named portfolio manager of Putnam Global Equity Fund, along with existing portfolio manager Darren Jaroch. Both Cooper and Perkins, who previously held investment roles at Fidelity Investments, will be based in Boston.
UBS Wealth Management Americas Appoints Mehra Head of Manager and Fund Research
UBS Wealth Management Americas announced on July 21 the appointment of Ajay Mehra as head of manager and fund research and managing director, reporting to Tony Roth, head of wealth management strategies. In that role, he will be responsible for delivering investment advice and guidance to financial advisors and clients covering more than $100 billion of institutional and retail managed separate account assets and more than $200 billion of mutual fund assets.
Mehra joins the firm from Columbus Nova, where he was portfolio manager and partner, managing a global long-biased equity fund and working on principal investing transactions for emerging market investments. He began his career in this field with Morgan Stanley in 1996, before moving to Columbia Management. He also led equity research at State Street Research & Management and was lead manager of two mutual funds.
ING Investment Management Americas Hires Robis
ING Investment Management Americas announced Tuesday the hiring of Robert Robis as senior portfolio manager on the global bond team and head of fixed income macro strategies. In this newly created position, he will report to Michael Mata, head of multisector fixed income strategies, and help set strategies across global rates, sectors and currencies for various investment portfolios run by the firm. He also serves as a portfolio manager for the ING Global Bond Fund (INGBX).
Robis who most recently spent five years at OppenheimerFunds, where he held numerous roles including senior fixed income portfolio manager and global macro strategist. Earlier in his career, Mr. Robis worked at J.P. Morgan Chase & Co.
Edelman Financial Opens Office in Novi, Mich.
Edelman Financial Services LLC, the investment management firm headed by Ric Edelman, announced on Monday the opening of its newest office in Novi, Mich. The company now has 22 offices nationwide.
With offices in Maryland, Virginia, New Jersey, New York, Illinois, Michigan, Massachusetts and Florida, Edelman Financial manages $6.8 billion for more than 15,000 clients2 across the country. While most investment firms serve only the wealthy, Edelman Financial is known for also catering to those who are not yet millionaires.
Marks Paneth & Shron Names Eric Kreuter as Partner
New York-area accounting firm Marks Paneth & Shron LLP (MP&S) has appointed forensic accounting specialist Eric A. Kreuter, Ph.D., CPA, CFE, as a partner in the firm’s litigation and corporate financial advisory services group, it announced on July 21.
Kreuter recently served as a partner at BST Valuation & Litigation Advisors, LLC, a New York accounting and consulting firm. At MP&S, he will help lead litigation and forensic work, and will also utilize his experience in management, commercial damages and human resources issues. He was previously a founding shareholder of Marden, Harrison and Kreuter, CPAs, PC.
Chris Ashe Joins New York Life
New York Life Insurance Company announced on Wednesday that Chris Ashe has joined the company as senior vice president and chief financial officer of the company’s retirement income security (RIS) unit. He reports to executive vice president in charge of RIS, Chris Blunt. In his new role, Ashe is responsible for overseeing all financial aspects of the business including financial planning and reporting, product pricing, investment alignment and risk management for the RIS business unit.
Prior to joining New York Life, Ashe spent sixteen years at Prudential Financial, where he most recently served as vice president of financial and strategic planning at Prudential Annuities. Additionally, he served as chief financial officer in the retirement division at Genworth Financial, and Wachovia Corporation as assistant controller and operations director.
Matt Dean Joins LTCI Partners Management Team
LAKE LTCI Partners, a nationwide long-term care insurance wholesaler, announced on July 21 the appointment of Matt Dean to its management team as vice president of operations. In this position, Dean is responsible for the structure and implementation of LTCI Partners’ application partner team. Additionally, he will assist in the development of LTC insurance planning tools for advisors, benefit brokers and institutional accounts.
Before joining LTCI Partners, Dean worked for more than 20 years in the area of specialized insurance solutions. Most recently he served as executive director, product management for USAA in San Antonio, Texas, where he was responsible for all facets of LTC insurance sales dealing directly with USAA members.
Kennedy Capital Management Adds Nikki Baker to Its Compliance Team
Kennedy Capital Management, Inc. announced Wednesday that Nikki Baker has joined the firm as a compliance analyst. In that role, Baker reports to Marilyn Lammert, vice president and chief compliance officer, and contributes to the ongoing development and implementation of compliance and risk management programs.
Prior to joining Kennedy Capital Management, Baker worked for Scottrade in St. Louis and held finance manager positions for three St. Louis automotive groups.