This week in new hires, new leadership appointments were announced by BlackRock; Mary Justice was named Seattle market leader for the Private Client Reserve of U.S. Bank; and Citi Private Bank welcomed Keith Gertsen.
Also, Betterment brought in Mike Ma and Daniel Egan, and Charles Chen joined 20 Gates.
BlackRock Announces New CFO, Other Leadership Appointments
BlackRock announced that Gary Shedlin, a long-time strategic and financial advisor to the firm, will join on March 11 as senior managing director and chief financial officer. He will work with Ann Marie Petach during a transition period and succeed her as CFO after BlackRock reports its Q1 earnings results. Shedlin will also become a member of the global executive committee; he will report to Laurence Fink, chairman and CEO.
Petach is joining BlackRock Solutions as senior managing director in the client solutions business, where she will help to develop critical client relationships and business initiatives with a special focus on solutions offerings for public and private pension funds.
Shedlin joins from Morgan Stanley, where he is vice chairman, investment banking, and a managing director in the financial institutions group. He has spent more than 25 years advising companies in the financial services sector, including as chairman of the financial institutions group at Citigroup and managing director and co-head of the financial institutions group at Lazard.
Mary Justice Named Seattle Market Leader for Private Client Reserve
U.S. Bank announced that Mary Justice has been appointed greater Seattle market leader for The Private Client Reserve of U.S. Bank. In her new position, she will lead a team of wealth management professionals providing investment management, private banking, trust and estate services and financial planning to high-net-worth clients in the greater Seattle area.
Justice brings more than 25 years of experience consulting with and leading teams who work with HNW individuals, families and foundations to her new post. Before joining, she was with Marsh, where she led asset protection consulting and insurance services as senior vice president for the Pacific Northwest region. She also has held senior management positions with U.S. Trust, Union Bank Wealth Management and the Laird Norton Trust Co.
Keith Gertsen to Join Citi Private Bank
Citi Private Bank announced that Keith Gertsen will join the firm as a managing director and the team leader in Greenwich, Conn., effective March 18; he will report to Paul Hubert, global market manager for the eastern region. In his new role, Gertsen will leverage his 22 years of capital markets experience and have responsibility for new client acquisition, managing key client relationships and shaping a hedge fund and alternative investments strategy. Most recently, Gertsen served as the head of sales and distribution for the Americas in prime finance at Citi. He joined Citi in 2010 as a managing director and global markets relationship manager from Viking Global Investors in Greenwich, where he was the global head of trading; prior to that, he had the same role at AllianceBernstein in New York. He began his career in 1991 at Alex Brown and Sons in equities and later became managing director and head of equity trading at Bankers Trust. He was then co-head of equity trading at Deutsche Bank in New York post-merger, where he was also a member of the North American equity management team. His other roles at Deutsche Bank were in equity capital markets, where he was head of the U.S. equity syndicate and global head of risk block deals for the global investment bank.
Betterment Adds Chief Growth Officer, Director of Behavioral Finance & Investing
Betterment announced that it has hired two key executives, Mike Ma and Daniel Egan. Ma will serve as chief growth officer, responsible for driving the firm’s customer acquisition strategy and increasing existing customers’ investments. Egan will serve as director of behavioral finance and investing, tasked with the behavioral and investing components of the firm’s mission to ensure clients achieve their goals and invest optimally.
Ma was formerly head of retail advertising and prospect marketing at the Vanguard Group. Under his leadership, Vanguard successfully combined ROI-based marketing effectiveness with the best of digital advertising and creative brand campaigns. Egan was previously a behavioral finance specialist at Barclays.
20 Gates Management Appoints Charles Chen
20 Gates Management LLC announced that Charles Chen has joined the firm as a managing director and chief investment officer. In this position, he will be responsible for the oversight and expansion of the firm’s presence in specialty asset management. He will report to Hans Bald, CEO.
Chen most recently was president and CIO of Newfleet Asset Management. He has more than 18 years of experience in trading, structuring and investment management. Prior to Newfleet, he was CIO at Securities Finance Trust Co., where he headed the asset management division. He has also been a portfolio manager at Credit Suisse First Boston, managing the credit portfolio of its investment banking division. He has also held various positions at C-Squared Capital Management, Chubb and MBIA.
Read the Feb. 13 New Hire Roundup at AdvisorOne.