This week in new hires, James Combs was named CEO of National Advisors Trust Co.; FSI elected two new board members, Northern Lights Distributors announced a new president and a new CEO, and Mercer named Derrick Capps head of consultant relations.
Also, U.S. Bank named four to its Private Client Reserve; Arjuna Capital, a sustainable wealth management platform, was launched; and the Hedge Fund Association established three new regional chapters.
National Advisors Trust Names Combs CEO
National Advisors Trust Co. (NATC) announced Monday the appointment of James Combs Jr. as CEO. One of his primary goals is building on the firm’s growth.
Prior to joining, Combs was chief operations officer for SEI Investment Manager Services. He has more than 20 years of experience in treasury, fiduciary, investment management and custody services, and previously held executive positions at Wilmington Trust Co., Wachovia Operational Services Corp., Global Processing Alliance and Bankers Trust Co.
FSI Elects Two New Directors to Board
The Financial Services Institute (FSI) announced the election of two new directors for its board. They are Derek Bruton, managing director and national sales manager of LPL Financial, and Seth Miller, president of Transamerica Financial Advisors. Bruton and Miller will replace Bill Dwyer, formerly of LPL Financial, and National Planning Holdings’ Jim Livingston, respectively. Dwyer and Livingston resigned from the board earlier, after making personal career changes that affected their eligibility to serve.
Bruton is responsible for business development and business consulting for all LPL Financial independent advisors and RIAs. Prior to joining LPL Financial, he spent several years in the financial services industry working at TD Ameritrade, Merrill Lynch and Charles Schwab.
Miller also has an extensive leadership background within the industry, having previously served in other leadership roles within Transamerica.
Northern Lights Distributors Appoints Two
Northern Lights Distributors (NLD) has appointed Brian Nielsen CEO and Bill Wostoupal president, effective immediately.
Nielsen had served as president, manager and principal of NLD since December 2005. As CEO, he will remain focused on the operational and compliance aspects of the business.
Wostoupal will continue to be executive vice president of sales and business development for NorthStar Financial Services Group, a holding company for several subsidiaries that manage and serve financial assets, including NLD. In his new role, he will lead NLD’s sales and marketing efforts, with sales and marketing personnel reporting directly to him.
NLD also recently appointed Jonathan Poyer and Michael Lambatsos sales and distribution managers; their team includes Kristin Klaus, an internal wholesaler who educates clients and independent advisors on the selling agreement and broker-dealer process. Mercer Names Derrick Capps Head of Consultant Relations
Mercer announced Monday that Derrick Capps had been named head of consultant relations for its U.S. benefits administration business. In this role he will focus on relationships with third-party search consultants. He reports to Kerry Sain, senior partner and U.S. sales leader, outsourcing.
Capps has been with Mercer since 2009, first as an analyst for its retirement sales team and recently as the leader of the RFP response team. Prior to joining, he worked at Wachovia Bank for seven years, during which time he was a member of the consultant relations team and also managed a group of internal retirement administration sales associates.
U.S. Bank Names Four to Private Client Reserve
U.S. Bank announced four appointments to The Private Client Reserve, three in Minneapolis and one in Phoenix. The three Minneapolis appointments are Steve Kelleher, wealth management advisor; Sam Somuri, senior portfolio manager; and Jeff Schell, trust officer. In Phoenix, Tim Hoekstra was named wealth management advisor.