People moves
Nuveen
The global asset management subsidiary of TIAA has promoted president Jose Minaya to the position of chief executive.
This is effective from 13 January 2020, when current chief executive Vijay Advani becomes executive chairman.
Minaya joined TIAA in 2004 after holding roles at AIG, Merrill Lynch and JP Morgan.
He was named president of Nuveen in June 2019.
WMS Partners
The Baltimore-based independent wealth planning firm has named Todd Wickwire as chief executive.
Wickwire joined the firm in February 2019 as chief operating officer and he moved to the chief executive role as part of the firm’s strategic plan.
Prior to joining WMS Partners, he was a managing director and head of US equity research at Wells Fargo Securities.
First Bank & Trust Company
Christopher Henry has been appointed as senior vice president of the bank’s wealth management division First Trust and Wealth Management.
He has 13 years of experience as a wealth management adviser in financial planning, most recently from Bank of America, where he served as vice president and private client associate in Richmond, Virginia.
Raymond James & Associates
The firm has hired financial advisers James Alioto and Florence Alioto-Prospero in Waukesha, Wisconsin.
James Alioto, managing director of investments, and Florence Alioto-Prospero, senior investment portfolio associate, join RJA from Wells Fargo Advisors where they previously managed over $325m (£253m, €294m) in client assets.
Together, they operate as father-daughter team Alioto Wealth Management Group of Raymond James.
Joining them is Darlene McGregor, senior registered client service associate.
Also, RJA hired Jon Russell and Ryan Winkler to its offices in Novi, Michigan.
The advisers join RJA from Merrill Lynch, where they previously managed $214m in client assets.
Joining them are Michael Hudzik, investment portfolio analyst, and Rebecca Downing, senior client service associate.
Together, they operate as Russell Winkler Private Wealth Management of Raymond James.
Lastly, the firm hire financial adviser Ruth Kitzmann to RJA’s offices in Waukesha, Wisconsin.
Kitzmann, senior vice president of investments, joins RJA from RBC Wealth Management, where she previously managed more than $127m in client assets.
Joining Kitzmann is Donna Haines, client service associate.
Together, they operate as Kitzmann Wealth Advisory of Raymond James.
BBVA USA
The firm has appointed Fernando Crespo as global wealth relationship manager in its Miami office.
He began his career in wealth management with Bernstein Global Wealth Management, followed by JP Morgan Private Bank and most recently, GenSpring SunTrust Private Wealth Management.
WSFS Financial Corporation
The parent company of WSFS Bank has welcomed Robert Schneider as president of Philadelphia-based wealth management subsidiary West Capital Management.
Schneider’s career includes over 25 years of experience in wealth management, most recently as director of operations with Goldman Sachs (United Capital Financial Advisors prior to its acquisition by Goldman).
Apollon Wealth Management
The financial planner has named Matthew Jahn as senior case designer.
Jahn was previously at Wells Fargo Advisors, where he was a vice president of insurance product management.
Guardian Capital Group
The financial services firm has hired Barry Gordon as managing director and head of retail asset management at its investment management subsidiary Guardian Capital LP.
Gordon will be located in Guardian’s Toronto office.
He has over 20 years of experience as a retail asset management executive in Canada.
M&A
Amerant Bancorp
The banking group has completed the acquisition of Grand Cayman-based Mercantil Bank and Trust (Cayman) from Mercantil Holding Financiero Internacional (Mercantil), a former affiliate.
The acquisition was approved by the board of governors of the Federal Reserve System and the Cayman Islands Monetary Authority.
Mercantil Cayman, which has approximately $195m in assets under custody and management, is now wholly owned by Amerant Bank and has been rebranded Elant Bank and Trust.
It serves and develops high net worth international customer relationships with offshore trust and estate planning services.
The financial terms of the deal were not disclosed.
MetLife
The life insurer has entered into an agreement with digital estate planning service Bequest.
The agreement will see MetLife will acquire online service Willing.
Willing helps create an estate plan in as little as 15 minutes from anywhere.
Since its inception in 2015, Willing has helped more than half a million families create important legal documents such as wills, trusts, and powers of attorney.
Willing’s services will continue to be offered to consumers online and there are plans in place to make the services available to MetLife’s group customers.
The deal is set to close this year and is subject to customary closing conditions and approvals.
Financial terms of the deal were not disclosed.
Mercer Global Advisors
The registered investment adviser (RIA) has acquired California-based wealth manager AL Hewitt.
It serves approximately 120 clients with assets under management of $100m.
The Hewitt acquisition brings Mercer Advisors’ total offices to 45 and increases Mercer Advisors’ total AuM to approximately $17bn.
The financial terms of the deal were not disclosed.
Creative Planning
The wealth manager has acquired RIA firm OptiFour.
It provides financial planning, investment management, trust, legal and tax services and has more than $400m in AuM.
Financial terms of the deal were not disclosed.
