J.P. Morgan Chase’s head of Wealth Management Barry Sommers is moving on up, taking on the role of CEO of the consumer bank division, the company said Thursday. In his new role, Sommers will continue to manage the wealth management division, as well as oversee bank operations.
Schechter Wealth Management tapped former University of Michigan basketball star, Jimmy King to serve as the firm’s VP of Business Development out of the Birmingham office. After college, King had a short run in the NBA playing for the Denver Nuggets, and then moved on to the financial industry as a financial advisor for Merrill Lynch.
U.K.-based wealth management firm Rothschild on Wednesday snagged Van Beever and Costa Duarte from Lloyds TSB Private Banking to start up a new client adviser team. Prior to working at Lloyds TSB Private Banking, Duarte worked at Citigroup Private Bank and Beever at the Bank of Scotland.
Janney Montgomery Scott added Randall Renneisen, to the team on Monday as the new EVP/Wealth Management for their Greenville, Delaware branch. Rennesien spent the last four years at Morgan Stanley, and prior to that he worked in the Global Markets department at Citigroup. Along with Randall, Janney also hired another Morgan Stanley employee Robert Fischer, helping to kick off the Renneisen group.
Douglas W. Hammond will be taking over the helm at National Financial Partners, the firm said Monday. Hammond, previously the firm’s president and COO of the advisory and brokerage firm, will be taking over as CEO for Jessica Bibliowcz.
HighTower’s Partnership Development Team expanded with the addition of Thomas H. Brown as executive director and east coast relationship manager. Brown, who co-founded Black Valley Consulting LLC, will be based in New York.
Webster Private Bank hired industry veteran Yves Cochez to manage the bank’s portfolio management team in Stamford Connecticut last week. Cochez comes to Webster from financial investment advisory firm GBS Finance, where he was the chief investment officer. Prior to that, he worked for Deutsche Bank Private Wealth Management.
CBIC expanded their Canadian portfolio management team last week with two new senior hires, Suzann Pennington and Stephen Carlin. Pennington will be the new Managing Director, Chief investment Officer and Carlin, VP, Senior Portfolio Manager, Canadian Equities.
Tenn.-based Wunderlich Securities picked up six advisors for its Dallas, Houston & Memphis offices last week. Richard (Ric) Badger Sr. and Paula Mott joined in Houston, while April Spicer, Derek Williams and Jeff Nuziard joined the Dallas Office. The firm also added Jenny King to the firm’s home office in Memphis.