This week in new hires, Wedbush’s private client services group added Richard Wright; Lance Losey and Mary Welk joined Ascent Private Capital Management; Michael Millman joined The Private Client Reserve in San Francisco; and Ed Cowling went to U.S. Bank Wealth Management in Minneapolis.
Also, Christopher Bartlett went to Brown Advisory; Gerald Smith was elected to the New York Life board of directors; Mercers ICG named James Davies Midwest leader; Allianz Life welcomed Patrick Christiansen; Paul Cucurullo came on board at Paladyne Systems; Bill Lipkus was named president and CEO at FICC; and Val Altomare was named managing director of Genesis Capital’s new Small Balance Multifamily Group.
Wedbush Private Client Services Group Welcomes Richard Wright
Wedbush Securities welcomed Richard Wright to its private client services group on Tuesday as senior vice president, investments and estate planning consultant. He will serve clients nationwide and report to Roc Willis, senior vice president and manager of San Diego County, Wedbush Securities.
Prior to joining, Wright served as a vice president and a financial advisor at Morgan Stanley Smith Barney. He brings more than 25 years of experience, specializing in both asset management and estate planning.
U.S. Bank Appoints Losey and Welk to Ascent Private Capital Management
U.S. Bank announced recently that Lance Losey has been appointed managing director of wealth strategy and Mary Welk has been appointed managing director of client advisory, both for Ascent Private Capital Management of U.S. Bank in Seattle.
In his new role, Losey will provide multigenerational planning, family governance and trust and fiduciary advisory services to ultrahigh-net-worth clients. Before joining, Losey served as partner and chairman of an estate planning and probate practice group within a Seattle law firm.
In her new role, Welk will serve as the primary point of contact for UHNW clients in Seattle and coordinate an integrated team of professionals serving these clients. She brings more than 25 years of experience assisting UHNW families; just prior to joining, she had been managing director, wealth management advisor at U.S. Bank, which she had joined in 2010 as managing director of trust. Earlier, she had served as CEO of a large family office.
Millman Joins Private Client Reserve in San Francisco
U.S. Bank announced recently that Michael Millman has been appointed SVP and wealth management advisor for The Private Client Reserve of U.S. Bank in San Francisco. In this role, he will develop and implement customized investment strategies and plans for HNW individuals and families
Millman brings more than 17 years of private banking, financial planning, and investment management and trust experience to his new post. Before joining, he served as SVP and wealth advisor for Wells Fargo Private Bank. He has also held senior-level advisory positions with such firms as Bank of America Private Bank, Fidelity Investments and Charles Schwab & Co. U.S. Bank Wealth Management Adds Ed Cowling in Minneapolis
U.S. Bank announced recently that Ed Cowling has been appointed director of specialty asset management, a new position within U.S. Bank Wealth Management. Cowling reports to Tim Leach, chief investment officer of U.S. Bank Wealth Management, and will have responsibility for all specialty asset management functions within U.S. Bank Wealth Management, including real estate and farm and ranch management, closely held company interests, oil, gas and mineral interests, loan asset management, and specialty asset management administration.
Cowling joined from Bank of America, where he was national manager of real estate for the firm’s wealth management business. He began his career there in farm and ranch management and had roles with increasing responsibility in urban real estate management, becoming head of real estate in 2005.
Christopher Bartlett Joins Brown Advisory as Partner
Brown Advisory recently announced the appointment of Christopher Bartlett as partner in the firm’s Baltimore office. He will serve as a senior portfolio manager to families, nonprofits and other institutions across the U.S. and around the globe.
Most recently Bartlett was head of global equity sales and trading at Wells Fargo in New York, responsible for 250 employees in trading, sales trading and domestic and international institutional sales. He was a board member of the broker-dealer Wells Fargo Securities International Ltd. and was also a part of the Wells Fargo Securities management committee. He joined Wells Fargo at the end of 2008 as part of Wachovia Securities. Prior to that, he spent 12 years at Alex. Brown & Sons as managing director and senior trader; earlier, he went to First Union in 1999.
Gerald Smith Joins New York Life Board of Directors
New York Life Insurance Co. recently announced that Gerald Smith has been elected to the company’s board of directors, effective Nov. 1. He is chairman and CEO of Smith, Graham & Co. Investment Advisors, which he co-founded in 1990. Prior to forming his own firm, Smith served as senior vice president and director of fixed-income securities for Underwood Neuhaus & Co., a regional brokerage firm in Houston. Previously at Westcap Corp., he was responsible for national sales and trading with institutional investors. Initially, he worked with Dillon Read and Co.
In 2011, Mr. Smith was appointed to the board of The Federal Reserve Bank of Dallas—Houston Branch. He is a trustee of the Charles Schwab Family of Funds and also serves on the boards of ONEOK, Inc., ONEOK Partners GP, LLC and Cooper Industries and holds numerous other positions. Davies Assumes Midwest Leadership of Mercer’s ICG
Mercer announced that James Davies was recently appointed Midwest leader of Mercer’s international consulting group (ICG), reporting to J.P. Provost, U.S. leader of the ICG. In this role, he will focus on leading consultants who work with multinational companies in the Midwest.
Davies has more than 20 years’ consulting experience, having moved to Chicago from the U.K. in 2004 to join the Mercer Chicago-based ICG team as principal and senior international benefits consultant. He began his consulting career in 1991 with Bacon & Woodrow, where he eventually served as senior actuary and pension consultant in the firm’s Leeds office.
Allianz Life Hires Patrick Christiansen as Vice President of IT Business Engagement
Allianz Life Insurance Co. of North America recently named Patrick Christiansen as vice president of IT business engagement in its technology division. In this role, he will be responsible for managing the relationships of business partners within Allianz Life, as well as Allianz SE Group IT and its North American subsidiaries. He will report to Jeff Palm, SVP, chief information officer.
Christiansen has more than 20 years of technology leadership experience. For the past 10 years he served as co-founder and managing principal of Arctec Group inMinneapolis, where he provided IT planning, enterprise architecture, systems evaluation and technical leadership consulting services to many companies including Allianz Life. Prior to his role with Arctec Group, he was chief technology officer for HealthNexis in St. Louis Park, Minn., and previously held technology roles with Express Scripts and Target Stores in Minneapolis, and Burlington Northern Railroad in St. Paul.
Paladyne Systems Welcomes Paul Cucurullo
Paladyne Systems, a Broadridge company, announced that it has appointed Paul Cucurullo as senior director of sales. In that role, he will lead and develop the Paladyne offering for long-only asset managers and investment advisors.
Cucurullo brings more than 30 years’ experience as an asset management professional, and joins from Eagle Investment Systems, a subsidiary of BNY Mellon. Previously, he was a managing partner, cofounder and director of business development for IX Partners, which in 2009 was sold to Headstrong, a multinational offshore consulting firm. For 10 years prior to that, he was CIO at Ark Asset Management.
Bill Lipkus Appointed President and CEO of First Investors
George Mohacsi, president and CEO, Foresters, announced recently the appointment of Bill Lipkus as president and CEO of First Investors Consolidated Corp. (FICC). Foresters completed the acquisition of First Investors and its U.S. asset management and life insurance operations in January 2011. Lipkus’ career with First Investors has spanned two decades. At FICC, he was appointed chief administrative officer in 2012. Prior to that, he was appointed treasurer in 1999 and chief financial officer in 1997. He has also held numerous executive accountabilities at FICC’s subsidiaries: First Investors Corporation, First Investors Management Company, Inc., Administrative Data Management Corp., and First Investors Life Insurance Company.
Altomare Named Managing Director of Small Balance Multifamily Group
Genesis Capital announced that it has created a new division, the Small Balance Multifamily Group, and named Val Altomare Jr. as its managing director.
Altomare started in the hospitality and restaurant industry, followed by more than 20 years as a mortgage broker. He transitioned to real estate 23 years ago, and brings expert experience in residential distressed properties. His experience includes broker of record responsible for compliance standards in California within a multiple site operation, as well as training and monitoring of DRE regulations and federal guidelines. He also has a private investment background as well as “A” paper lending.
Read the Oct. 24 New Hire Roundup at AdvisorOne.