This week in new hires, David Scheetz, Edward Deeds and James Axford joined Putnam Investments; Susan Wagner retired as vice chairwoman of BlackRock and was named to its board of directors; and SIPC welcomed three new board members.
Also, Randy Miller returned to National Planning Corp., Chuck Stutenroth joined Ascent Private Capital Management, and Byron Bowman became general counsel at fi360.
Putnam Investments Welcomes Scheetz, Deeds and Axford
Putnam Investments announced Tuesday that it has hired David Scheetz, Edward Deeds and James Axford for senior positions in defined-contribution sales and client relations. Scheetz and Deeds serve in the new positions of regional defined contribution directors. Both report directly to James Brockelman, defined contribution advisor-sold national sales manager. Axford has been named to the new position of defined contribution consultant relations manager, and will report to Peter Whitman, head of defined contribution investment-only. Each has nearly 25 years of industry experience.
Before joining, Scheetz was responsible for Bank of New York Mellon’s defined contribution investment-only business in the mid-Atlantic and had worked extensively with full-service plan sales, including experience with Prudential Retirement and Merrill Lynch. Based in Richmond, Va., he will be responsible for the mid-Atlantic region of Maryland, the District of Columbia,Virginia, North Carolina and Tennessee.
Deeds had previously served as a regional sales manager for ADP Retirement Services. He is based in Cincinnati and will be responsible for expanding advisor relationships in Ohio, Michigan, western Pennsylvania, Kentucky and Indiana.
Axford previously was a senior vice president, director, within Pioneer Investments’ investment-only retirement group. Earlier, he gained experience in sales and relationship management at a number of firms, including MassMutual Retirement Services, Russell Investment Group and MFS Investment Management.
BlackRock’s Susan Wagner to Retire as Vice Chairwoman, Join Board
BlackRock announced June 20 that Susan Wagner, a founding partner of BlackRock, is retiring as a vice chairwoman and has been elected to the board of directors. She will retire at the end of June and take her seat on the board at the October meeting. She also will continue to serve as a director of DSP BlackRock Investment Managers, the firm’s joint venture in India.
In addition to serving as a vice chairman, Wagner serves as a member of the firm’s global executive committee and global operating committee. She previously served as chief operating officer and head of corporate strategy, and led its international client and alternative investments businesses.
Three New Board Members to Join SIPC
The Securities Investor Protection Corp. (SIPC) announced Friday that two individuals nominated by President Obama and confirmed by the Senate and a new representative from the Treasury Department will serve as its three newest directors and replace outgoing board members Mark Shelton, William Heyman and George Madison. They are Anthony (Tony) D’Agostino, Gregg Karawan and Cyrus Amir-Mokri.
D’Agostino is a managing director at Bank of America, serving as Basel readiness executive and overseeing initiatives necessary for the company to achieve and maintain Basel regulatory capital readiness on a global basis. Before Bank of America, he was COO of the global quantitative analytics group at UBS Investment Bank. Previously, he worked at Wachovia Securities, where he served as the COO of equity capital markets, co-head of program and algorithmic trading, and as a trader and analyst for the firm’s U.S. equity proprietary trading business. Prior to his Wall Street career, he served on active duty for 24 years in the U.S. Navy, both as an officer and an enlisted sailor.
Karawan, senior vice president and general counsel, Genworth Financial Insurance & Wealth Management, started at Genworth and its predecessor companies in 2000 as vice president and global chief litigation counsel. In January 2007, he took the role of senior vice president and general counsel of its insurance and wealth management division, and in January 2009 also resumed the role of global chief litigation counsel. From 1990 to 2000, he worked at the law firm of Sonnenschein Nath and Rosenthal, where he was a partner from 1994 to 2000; from 1988–1990, he was an associate at the law firm of Ashinoff Ross & Korff from 1988-1990.
Cyrus Amir-Mokri, assistant secretary for financial institutions, U.S. Department of the Treasury, previously served as senior counsel to the chairman of the Commodity Futures Trading Commission (CFTC), where he also was the agency’s deputy representative to the Financial Stability Oversight Council. Prior to that, he was a partner at the law firm of Skadden, Arps, Slate, Meagher & Flom LLP. He also clerked for the Honorable Bruce Selya of the U.S. Court of Appeals for the First Circuit.
National Planning Corp. Names Randy Miller to Lead Pursuit Program
National Planning Corp. (NPC) announced Monday the appointment of Randy Miller as first vice president and director of practice management. In his new role, he will oversee the firm’s Pursuit Program, a platform that offers practice management coaching and consulting solutions for financial advisors. Based at the firm’s Santa Monica headquarters, he will report to Lynn Niedermeier, president and CEO. He replaces Jim Komoszewski, who has joined Investment Centers of America (ICA) in a practice management role.ICA is part of the National Planning Holdings network.
Miller originally joined NPC in 2009 and served as vice president and practice management consultant until 2011, when he served as the vice president of sales for a startup enterprise in the hospitality industry. He has more than 13 years of experience in the financial services industry and began his career as a financial advisor with Prudential Securities. He held regional vice president positions with parent company Jackson National Life Insurance and with Genworth Financial, and served as the director of a dedicated wealth advisory group with MetLife Investors.
U.S. Bank Appoints Stutenroth Regional Managing Director for Ascent
U.S. Bank announced recently that Chuck Stutenroth has been appointed regional managing director for Ascent Private Capital Management of U.S. Bank inCincinnatiand reports to Michael Cole, president of Ascent. In his new role, Stutenroth is responsible for the firm’s newCincinnatioffice, which will open this summer, and leads an initial team of nine professionals responsible for providing ultra-high-net-worth clients with investment management, private banking, wealth impact planning and financial administration. He brings more than 24 years of experience in wealth management for ultrahigh-net-worth families and previously served as director of investment strategy at Mirador Family Wealth Advisors, where he was a founding member and investment officer of the family office. Prior to that, he was a founding member and chief investment officer of ZAR Fund Group, where he managed long/short equity funds and market-neutral funds with oversight responsibility of a London-based team involved with global macro and currency FX strategies. He has also served as a senior portfolio manager for Bank of America Investment Management.
fi360 Appoints Byron Bowman General Counsel
fi360 announced Monday that Byron Bowman has joined the company as general counsel. He will direct fi360’s senior management on legal matters as well as be involved in monitoring legislative and regulatory changes that affect investment fiduciaries. Additionally, he will serve as fi360’s corporate secretary.
An attorney with more than 30 years of experience advising mutual fund sponsors, investment advisors, broker dealers, and other investment service firms, he has particular expertise on federal securities and banking law, ERISA and the fiduciary standard. Most recently, Bowman ran his own law practice based in Chicago. Prior to that he acted as general counsel for Hansberger Global Investors, an investment advisory boutique. He has also acted as counsel to banks, investment advisors and investment companies throughout the U.S.
Kristina Fausti Broumand, fi360’s former general counsel, will remain with the company on a part-time basis as senior counsel; she will work with Bowman on corporate legal matters and in an advisory role related to the legislative and regulatory environment.