This week in new hires, Fidelity Asset Management announced two new presidents in its fixed income division; SIFMA announced its new president and board members; Citigroup reorganized several of its executive positions; and EBSA announced five new leadership positions.
Also, JHS Asset Management welcomed a new advisor; BlackRock’s Obie McKenzie was named to chair the board of Worldofmoney.org; and RBC Wealth Management honored one of its own.
Fidelity Names Presidents to Bond and Money Market Groups
Fidelity Asset Management announced leadership appointments within its fixed income division, which includes the company’s bond and money market groups. Robert P. Brown, previously president of money markets, was named president of the bond group, succeeding Christopher Sullivan. Nancy D. Prior was promoted to president of money markets, succeeding Brown. Most recently, Prior was a managing director of credit research.
Christopher Sullivan was named head of institutional fixed income, a newly created role, and David E. Hamlin, previously a managing director of credit research, was promoted to head of research for fixed income, also a newly created role. Brown, Prior, Sullivan and Hamlin will report directly to Charles S. Morrison, president of the fixed income division.
SIFMA Names New Chairman, Board Members
SIFMA announced its new chairman and board members. Jerry del Missier, co-chief executive of Barclays Capital and the co-chief executive of corporate and investment banking at the firm, will be the organization’s new chairman.
In addition, Andrew S. Duff of Piper Jaffray, Karen B. Peetz of BNY Mellon, G. Donald Steel of Planned Investment Co., Inc., Richard B. Payne, Jr. of U.S. Bancorp, David L. Brunner of BNP Paribas Securities Corp., and Bryan T. Weadock of Bank of America Merrill Lynch have been elected to SIFMA’s board of directors and will serve three-year terms.
Citigroup Leaders Move Into New Roles Across Operating Regions
Citigroup on Friday announced a number of executive changes across regions. Manuel Medina-Mora will now have line responsibility for worldwide consumer and commercial banking franchises. As CEO of global consumer banking, he will continue reporting to Vikram Pandit. Javier Arrigunaga will be CEO of Mexico and run the country’s day-to-day operations, reporting to Medina-Mora. Francisco Aristeguieta will take over as CEO for Latin America, with responsibility for all businesses in the region excluding Mexico. He will also report to Medina-Mora.
Mike Corbat will become the sole CEO for Europe, Middle East and Africa (EMEA) and report to John Gerspach. Mark Mason, COO of holdings for the last two years, will take over from Corbat as CEO of Citi Holdings, reporting to Gene McQuade. Bill Mills, formerly CEO of EMEA/Western Europe and Africa, will become CEO for North America and report to Gerspach. Alberto Verme, CEO of EMEA/Eastern Europe and the Middle East, will become chairman of EMEA banking.
In Asia, Stephen Bird will become sole CEO of Asia Pacific. Shirish Apte will become co-chairman of Asia Pacific banking, focusing on clients in Southeast Asia. Shengman Zhang will continue to serve as co-chairman of Asia Pacific banking, with an emphasis on East Asia. Japan will now operate as an independent region and report directly to Gerspach. The heads of global functions in Japan will also report into New York, while leaders of the various businesses and product lines within Japan will continue to report directly to the CCO, with a matrix line to the global heads of their respective businesses.
EBSA Announces Senior Leadership Appointments
Phyllis C. Borzi, assistant secretary of the U.S. Department of Labor’s Employee Benefits Security Administration (EBSA), announced five appointments to senior executive service positions within the agency. Joe Canary has been selected as director, Office of Regulations and Interpretations. Prior to his selection, he was chief of the division of coverage, reporting and disclosure within the Office. Mabel Capolongo has been named director, Office of Enforcement; she has been with the department since May 1979 and has served as director of EBSA’s Philadelphia Regional Office since January 1998.
Isabel Colon was named regional director, Atlanta Regional Office. She has been with the department since June 1997 and served as deputy director of EBSA’s Atlanta Regional Office since February 2010. Susan Hensley was appointed regional director, Boston Regional Office. She has been with the department since January 1991 and served as deputy director of EBSA’s Dallas Regional Office since January 2006. Jim Purcell is now regional director, Kansas City Regional Office. Since May 2007, he has served as the deputy regional director of the Kansas City Regional Office.
JHS Welcomes Risk Manager William Owen as New Advisor Serving South Florida Clients
JHS Capital Advisors announced that William Owen (left) has joined the firm as a financial advisor, serving clients in the South Florida market.
During his eight years in the financial services industry, Mr. Owen has worked with pre-retirees and business owners on integrated financial and estate planning, risk management and portfolio design, most recently as a financial advisor at Morgan Stanley Smith Barney.
BlackRock’s Obie McKenzie Appointed Chair of Worldofmoney.Org’s Board of Directors
WorldofMoney.org announced the appointment of Obie McKenzie (left), managing director in BlackRock’s global client group, as chair to the board of directors of the nonprofit organization dedicated to the financial education of youth. The WorldofMoney.org Youth Financial Education Institute was launched in December of 2005, providing underserved youth ages 7–11 (Young Moguls) and 12–18 (Moguls) with the empowering tools to survive economic cycles and achieve financial literacy.
The appointment comes on the heels of McKenzie’s receipt in 2010 of the prestigious Richard A. Lothrop Award at the 33rd annual conference of The Association of Investment Marketing and Sales Executives Conference (AIMSE). Lothrop was a pioneer and innovator in the investment management marketing and sales industry.
RBC Wealth Management Names James Goldman Volunteer of the Year
RBC Wealth Management recognized James Goldman, financial advisor at the firm’s Hartford branch, as the recipient of its 2011 Dick McFarland Volunteer of the Year Award on Monday. Goldman devotes several hundred hours each year as the Money Coach at Jewish Family Services of Greater Hartford (JFS), working closely with individuals who are facing personal financial challenges.
Over the last three years, Goldman has directly helped nearly 200 people through individual consultations and has spoken at workshops attended by nearly 1,000 people. In addition, he has qualified for the president’s council since 2008, representing the top 20% of the firm’s financial advisors.