This week in personnel announcements and new hires, Craig Gordon departed from RBC Wealth’s RIA custody and BD clearing business, Hamilton Insurance Group announced that it had named Sandy Weill as chairman of its board , and Snowden Capital Advisors hired Caesar Cepeda.
Also, Thornburg Investment Management promoted Charlie Wilson to co-manager of its international ADR strategy.
Craig Gordon of RBC Advisor Services Leaves Firm
Craig Gordon, director of correspondent and advisor services for RBC Wealth Wealth Management, has left the company.
What Your Peers Are Reading
Gordon, a former Fidelity Institutional Wealth Services executive, had been the leading voice for RBC Wealth’s entry into the RIA custody business (see archived Investment Advisor feature article). RBC Wealth issued a statement saying that “Craig has been a valuable asset to the firm over the years and we wish him all the best in the future,” and that “we are actively looking to replace Craig Gordon’s position with a talented professional with the necessary skills to take our businesses to the next level, as we have never been more committed to this business.”
The RBC custody business had been built on Bear Stearns’ RIA business. The RBC spokesperson said that “a vital component of RBC Wealth Management’s global strategy is continuing to grow our complementary business channels, including RBC Advisor Services and RBC Correspondent Services,” and that those businesses “continue to bring on new clients and deepen our relationships with our existing clients.”
Hamilton Insurance Group Names Weill Chairman of Board
Hamilton Insurance Group Ltd., the holding company for Bermuda-based Class 4 property and casualty reinsurer Hamilton Re, has announced that Sanford “Sandy” Weill has been named chairman of its board of directors.
Weill is the former chairman of Citigroup Inc. Hamilton Re was formerly owned by Steven Cohen’s SAC Capital Advisors LP and known as SAC Re Ltd., but was sold last month under the terms of a settlement on insider trading. Weill’s presence on the board is said to indicate that future acquisitions may be in the offing.