Thomas Franco has joined Virtus from UBS.

This week in personnel announcements and new hires, the Financial Services Institute named a new board member, Thomas Franco joined Virtus Investment Partners, Kenneth Shimberg went to Mercer, and Dana Mahoney and Christopher Latham joined FiComm Partners.

Also, John Ahearn was elected chair of BAFT’s board of directors, and Tiffany Freitas joined Vestmark.

FSI Elects Commonwealth’s Rooney to Board

The Financial Services Institute announced the election of John Rooney, managing principal of Commonwealth Financial Network, as the newest member of its Board of Directors. Rooney will serve a minimum of three years. 

The FSI Board now stands at 16 members, including large, midsize and small independent financial services firms as well as four independent financial advisors.

Franco Joins Virtus

Virtus Investment Partners, Inc. has announced that Thomas Franco has joined as managing director and divisional sales manager. He reports to Barry Mandinach, executive vice president, head of distribution.

Franco joins from UBS Global Asset Management, which he joined in 2001. Prior to that, he was regional sales manager at Phoenix Investment Partners (PXP), the predecessor to Virtus. Earlier he had held the same position at Zweig Mutual Funds, which was acquired by PXP in 1999.

Mercer Adds Shimberg

Mercer Investments has announced that Kenneth Shimberg has joined as U.S. endowment and foundations chief investment officer for outsourced CIO services. He will also serve as chairman of Mercer’s endowment and foundation investment committee. He is based in Boston and reports to Stan Mavromates, Americas CIO for Mercer Investments.

Shimberg joins from Brown University, where he served as an investment office managing director since 2001 and as interim CIO from October 2012 to June 2013. Earlier he served as a principal at the Princeton University Investment Co. He also worked at Nassau Capital, LLC and at J.P. Morgan as a vice president in the structured finance group.

Mahoney, Latham Join FiComm

Communications consultancy FiComm Partners LLC, announced that Dana Mahoney and Christopher Latham have joined the firm.

Mahoney, formerly an independent consultant, earlier ran marketing at Wealthvest for three years. She also spent time at both Cantor Fitzgerald and Salomon Brothers early in her career.

With extensive financial services and financial advisory reporting expertise, Latham was a founding member of Financial Advisor IQ. In addition, he has written special reports for the print edition of the Financial Times and previously reported and edited for the Chicago Tribune and Newsday.

Ahearn Elected Chair of BAFT Board

International financial services association BAFT announced that John Ahearn of Citi has been elected chair of its board of directors, Michael Quinn of JPMorgan was elected vice chairman, and Daniel Scanlan of Standard Chartered was elected secretary/treasurer.

Ahearn is a managing director in Citi’s transaction services business. Earlier, he was with ABN Amro for eight years; before that, he held senior roles at Bank of New York. He started his banking career at JPMorgan as a management trainee.

Freitas Joins Vestmark as CFO

Advisory solutions provider Vestmark has announced that Tiffany Freitas has joined as chief financial officer and Christine Bodoin, former CFO, has become chief administrative officer.

Freitas was most recently vice president of finance for the interactive division of the Walt Disney Co. Earlier experience includes time at Bain Consulting and Citigroup Investment Banking.

— Read the Apr. 30 New Hire Roundup on ThinkAdvisor.