People moves
HSBC Bank USA
Tara Latini has been named head of wealth and personal banking.
Previously, Latini served as the country head of wealth and personal banking in Malaysia
She replaces Pablo Sanchez who has left the bank to pursue other opportunities.
Bailard
The wealth and investment management firm has named Sonya Mughal as chief executive.
She was chief operating officer and chief risk officer. Sonya has spent the entirety of her 27-year financial career at Bailard.
Preceding chief executive Peter Hill is transitioning into the position of executive.
MAI Capital Management
The independent registered investment adviser firm has named Michael Dvorkin as managing director and senior wealth adviser.
Based in the greater Miami area, Dvorkin is transitioning his clients to MAI and establishing MAI’s presence in southeast Florida.
Snowden Lane Partners
The independent wealth advisory has hired ex-Wells Fargo adviser and managing director, Alfredo Garcia, to its New York City headquarters.
Garcia manages roughly $100m (£73m, €84.1m) in client assets and is joined by client relationship manager, Fabian Munoz, also formerly of Wells Fargo.
Together, they will establish a team in Snowden Lane’s New York City office, focusing primarily on serving international clients, with an emphasis on Latin America.
Several additional team recruits are expected to join soon.
BNY Mellon Wealth Management
The wealth firm has appointed Carolina Montiel as regional director, team leader in Atlanta, Georgia.
In this role, she will oversee implementation and client servicing of our custom-tailored investment and wealth management solutions in the region. Carolina will be based in Atlanta and report directly to Market President Michael Dawkins.
Montiel most recently served as managing director and family wealth investment adviser at BNY Mellon Wealth Management.
M&A
IQ-EQ
The global investor services firm has bought US-based Concord Trust Company for an undisclosed sum.
This is the third deal in the US for IQ-EQ. But the Concord acquisition marks the firm’s foray into the American private wealth space.
At completion, IQ-EQ will have a global workforce of over 3,400 employees, with 331 in the US alone, and global assets under management reaching $500bn.
Concord’s president Christopher Martin and chief operating officer Andrew Powell will remain in their roles post-acquisition.
IQ-EQ’s Mark Fordyce will assume overall responsibility for the group’s expanded US operations.
Pure Portfolios
The wealth firm has merged with Northwest Wealth Advisors (NWA).
The combined firm will continue to deliver personalised, fiduciary advice and will collectively manage approximately $200m in assets.
The financial terms of the deal were not disclosed.
Prime Capital Investment Advisors (PCIA)
The firm has acquired the assets of Sphere Wealth Management.
The transaction adds more than 200 families and three advisers to PCIA’s business.
Joining PCIA are Donald Paul, John Paul and Keith Lea, all managing partners with Sphere.
The financial terms of the deal were not disclosed.
