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Financial Planning > UHNW Client Services > Family Office News

New Hire Roundup: Commonwealth Named as a Top Place to Work—Again

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This week in new hires, Commonwealth Financial Network once again made the Boston Globe’s list of top places to work in Massachusetts; State Street Global Advisors announced the new head of U.K. defined contribution; Milla Krasnopolsky joined Mercer; Ellen Turf announced that she would depart NAPFA next year; and Intech announced a new hire and promotions.

Also, Family Office Exchange added three new firms to its list of leading wealth advisors; Glenmede hired Timothy Fisk and Jeffrey Coron; Newfleet Asset Management named David Albrycht president and chief investment officer; Duane Jeffers went to OneAmerica; and MassMutual named Laura Cali as TPA relationship manager.

Commonwealth Financial Network Again Ranked a Top Place to Work

For the fifth consecutive year, Commonwealth Financial Network has been ranked as one of the top places to work in Massachusetts by the Boston Globe. Overall, Commonwealth was honored as the No. 6 large-size firm to work for, and also placed in the top 10 in three categories: diversity, training, and work conditions. Commonwealth is one of just a handful of Massachusetts companies that has earned a spot every year since the Globe introduced its Top Places list.

The ranking recognizes companies across the state based on employee opinions on workplace practices in the areas of compensation, leadership, appreciation, career opportunities and management. Employees were asked to grade their organizations according to 24 performance statements, on issues ranging from encouraging new ideas to providing opportunities for growth and development. Private companies, nonprofits, and publicly held businesses were included in the analysis.

State Street Global Advisors Appoints Head of UK Defined Contribution

State Street Global Advisors (SSgA), the asset management business of State Street Corp. (NYSE: STT), recently announced the appointment of Nigel Aston to managing director and head of U.K. defined contribution. In this newly created London-based position, he will report to Susan Raynes, senior managing director and head of U.K., Middle East and Africa, and Fredrik Axsater, managing director and global head of defined contribution.

Prior to joining, Aston was a business development director with data company DCisions. His experience also included head of strategy and propositions at Standard Life and a number of roles at AXA, including investment strategy director and key account director within its corporate benefit solutions division. He began his career at Sun Life as senior sales consultant.

Milla Krasnopolsky Joins Mercer

Milla Krasnopolsky has joined Mercer’s financial strategy group as a senior consultant and lead strategist for dynamic derisking solutions, effective Monday. Prior to joining, she was managing director for fixed income markets and strategic solutions for the GM pension plan.

Krasnopolsky joined General Motors in 1999 and was appointed managing director, fixed income markets and strategic solutions in 2008.

NAPFA CEO to Step Down; Fee-Only Group Seeks New Hire

The National Association of Personal Financial Advisors announced Monday that NAPFA CEO and Executive Director Ellen Turf will leave the fee-only planning organization on Aug. 31, 2013.

Turf, 60, told NAPFA leaders about her plans to leave in a letter written in early October, which gives the organization nearly a year find her replacement. She explained that her decision to leave is part of a life plan that she and her husband established with the help of their financial planner.

The announcement comes on the heels of a shakeup on NAPFA’s board in August, when Ron Rhoades voluntarily resigned from his chairman-elect position due to a compliance violation at his firm, ScholarFi, based in Alfred, N.Y. Lauren Locker, founder of Locker Financial Services in Little Falls, N.J., was elected in September to replace Rhoades as NAPFA chairman.

A search committee that the NAPFA board formed after receiving Turf’s letter will conduct a national search for the next CEO/executive director.

Read the full story at AdvisorOne.

Intech Announces New Hire and Promotions

Intech Investment Management recently announced the hiring of Jonathan Hanke, Ph.D., as associate director of research. In this role, he will conduct research on stochastic portfolio theory, and its applications to managing portfolios. He will be based at Intech’s research facility in Princeton, N.J.

Prior to joining, Hanke held various teaching positions, most recently as an assistant professor at the University of Georgia. Other positions he has held included visiting assistant professor at Duke University, instructor at Princeton University and VIGRE Hill assistant professor at Rutgers University. Hanke is also the recipient of numerous awards and grants.

Intech also announced the promotions of Dr. Vassilios Papathanakos to deputy chief investment officer and Dr. Phillip Whitman to director of research, the position previously held by Papathanakos.

Family Office Exchange Adds Three New Firms

Family Office Exchange (FOX) announced the addition of the CAPROCK Group, Commerce Family Office and Geller Family Office Services to its list of leading wealth advisors. The list identifies firms that have passed a comprehensive screening to assess their ability to deliver integrated wealth advice to families with more than $20 million in investable assets. The CAPROCK Group has offices in Boise, Idaho; Seattle; and San Jose, Calif., and serves 75 family clients with $1.5 billion in assets under advisement. Missouri-based Commerce Family Office serves 75 family clients with $6.5 billion in AUA. New York-based Geller Family Office Services serves 37 family clients with $5 billion in AUA.

To date, the Family Office Exchange has screened more than 40 firms and identified 33 qualified organizations. FOX evaluates firms based on 10 criteria derived from years of industry research and consulting experience. The screening assesses whether firms possess the financial strength, management experience, business model, and resources necessary to provide a full range of integrated wealth advice to families, including investment management, tax planning, estate planning, philanthropy, and owner education.

Glenmede Hires Timothy Fisk and Jeffrey Coron

Glenmede announced Monday that it has hired Timothy Fisk as vice president, wealth advisor, and Jeffrey Coron as director of institutional and intermediary distribution of Glenmede Investment Management.

Fisk, who will work out of the Philadelphia office, joins from Merrill Lynch, where he served as vice president and trust specialist in its wealth structuring group. Prior to that, he served as a trust officer for Merrill Lynch’s Chicago-based ultra-high-net-worth clients within the private banking and investment group. Before joining Merrill Lynch in 2005, he was an attorney with Chicago-based Porikos, Rodes and Glavinskas.

Coron will work out of the firm’s Philadelphia office and will report to Sally Wirts, chief administrative officer of GIM. Most recently, he served as senior vice president and head of the client relations group for Advisors Asset Management; earlier, he served as the senior vice president and head of their business development group. Prior to AAM, he was managing director of alternative investments at Fortigent in Rockville, Md., and managing director and head of private wealth and institutional distribution at Natixis Asset Management in Boston.

Albrycht Named President of Newfleet Asset Management

Newfleet Asset Management, one of the asset management firms that comprise Virtus Investment Partners, announced that David Albrycht has been named president and CIO. He had served as CIO, multisector strategies, since June 2011. In this new role, he continues to report to George R. Aylward, president and CEO, Virtus Investment Partners.

Albrycht joined Virtus in 2011 when it established Newfleet as a comprehensive fixed income investment manager by merging the multisector strategies team with other existing fixed income capabilities. In addition to managing Virtus’ largest open-end mutual fund, the Virtus Multi-Sector Short Term Bond Fund (NARAX), he also manages or co-manages other Virtus open- and closed-end funds.

OneAmerica Adds Duane Jeffers as Regional Sales Director

The companies of OneAmerica have selected Duane Jeffers to be regional sales director for retirement business in Michigan and northwest Ohio. He will work from the firm’s regional office in Detroit and lead sales, marketing and service functions for the retirement services division of American United Life Insurance Co., a OneAmerica company.

For the past six years, Jeffers has served in managing director and sales vice president roles at Prudential Retirement. He has also held various management positions with Great West Retirement Services and Nationwide Retirement Solutions.

MassMutual Retirement Services Appoints New TPA Relationship Manager

MassMutual’s Retirement Services Division announced that Laura Cali has been named relationship manager with its third-party administrator relationship management team. Based in Santa Clara, Calif., she reports to Craig Haase, assistant vice president of sales and client management with MassMutual Retirement Services.

Prior to joining MassMutual, Cali served nearly 12 years in retirement plan sales with AG Edwards and Sons Inc., and most recently served as relationship manager with Morgan Stanley.


Read the Nov. 7 New Hire Roundup at AdvisorOne.


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