This week in new hires, HighTower welcomed Thomas Brown and Frank Epinger to its development team; Citibank named Mark Mason private bank CEO and announced that Jane Fraser will become CitiMortgage CEO; Arif Husain was named head of international fixed income at T. Rowe Price; Doug Hammond became CEO at NFP; and Direxion named Stephen Rudman head of sales.
Also, BMO Global Asset Management promoted Don Borschel and welcomed back Jeff Cole; Frances LaFleur rejoined Drinker Biddle & Reath; Clarion Partners welcomed Kerrisha Jenkins; and RegentAtlantic announced that Jim Sonneborn was voted president of the Estate Planning Council of Northern New Jersey.
HighTower Expands Development Team
HighTower announced recently that it has expanded its partnership development team. Thomas Brown joined as an executive director and East Coast relationship manager, and Frank Epinger has joined as an executive director and relationship manager for the West Coast and Midwest. They are based in New York and Los Angeles, respectively, and report to Michael Parker, national director of HighTower partnership.
Brown previously co-founded Black Valley Consulting. Prior to that, he served as a branch manager of a legacy Smith Barney office. He was the head of national recruiting at UBS, and assistant to the northeast division director of Smith Barney.
Epinger spent 13 years working for Morgan Stanley Smith Barney, most recently as a complex manager in Pasadena. He also served as a branch manager of the firm’s office in Pasadena. During his tenure at Smith Barney, he was a branch manager in offices in Los Angeles and Sherman Oaks.
Citibank Names Mason Private Bank CEO; Fraser to Become CitiMortgage CEO
Citibank announced Monday that Mark Mason would take over as private bank CEO, reporting to Jamie Forese. Mason has been a senior executive at Citi Holdings since its inception. Prior to joining Holdings, he was chief financial officer and head of strategy and M&A for the former global wealth management division, which at the time included Citi Private Bank and Smith Barney.
Sanjiv Das, currently CEO of CitiMortgage, is leaving to pursue other professional opportunities, although he has agreed to remain for the next few months and work with Gene McQuade on mortgage issues related to the government.
Jane Fraser will become CEO of CitiMortgage. She will report to Manuel Medina-Mora and will join Citi’s operating committee. She had been private bank CEO for the past four years. Fraser joined Citi in 2004 and prior to that was a partner at McKinsey & Co.
T. Rowe Price Names Arif Husain Head of International Fixed Income
T. Rowe Price International announced Tuesday that it has named Arif Husain head of international fixed income. In this role, he will succeed Ian Kelson and lead the firm’s international/global fixed-income investment team and process. He will also take on portfolio management responsibilities following an appropriate transition period. He will start on Aug. 30 and be based in London.
Husain has 18 years of investment experience, and most recently served as director of both European fixed-income and U.K. and European portfolio management for AllianceBernstein. Prior to joining AllianceBernstein in 1999, he was assistant director of European derivatives trading at Greenwich NatWest and traded interest rate swaps at Bank of America.
Kelson, who has more than 30 years of investment management experience and joined T. Rowe Price in 2000, will remain at T. Rowe Price in the fixed-income division; he will continue to serve on the firm’s asset allocation committee. He will continue dedicated portfolio management responsibilities before Husain joins, and maintain that effort until an appropriate and seamless transition period is agreed upon and completed. NFP Names Doug Hammond CEO
National Financial Partners Corp. announced Monday that Douglas Hammond, president and chief operating officer, has been named CEO, effective May 17. He succeeds Jessica Bibliowicz, chairwoman and CEO of NFP. Bibliowicz, whose intention to step down as CEO was announced in April 2012, was NFP’s CEO since joining the company in April 1999, and chairwoman since June 2003.
As announced on April 15, NFP entered into a definitive agreement with Madison Dearborn Partners (MDP), under which a controlled affiliate of MDP will acquire NFP. The transaction is subject to shareholder approval and other customary closing conditions. Hammond’s appointment is part of the company’s previously announced management succession plan. Bibliowicz will continue her service on the board as nonexecutive chairwoman of NFP until the close of the transaction with MDP.
Hammond has served as COO of NFP since 2008, and was named president in 2012. Prior to that role, he served as executive vice president and general counsel from 2004 to 2008 and as executive vice president and deputy general counsel from 2002 to 2004. Before joining in 1999, he was an attorney with Dewey & LeBoeuf, where he specialized in corporate insurance and regulatory matters and represented NFP’s capital sponsor prior to and during the formation of the company. He also held various business and legal positions in the financial institutions division of Gulf Insurance Group.
Direxion Appoints Stephen Rudman Head of Sales