M&A
AMP
The Aussie wealth manager has confirmed that it received an “indicative, non-binding, conditional proposal” from US investment firm Ares Management.
The offer is to acquire 100% of the shares in AMP by way of “scheme of arrangement”, the wealth firm said on 30 October in a statement on the Australian Stock Exchange.
AMP said “discussions on the proposal are at a very preliminary stage and there is no certainty that a transaction will eventuate”.
People moves
Citizens Financial Group
Ryan Parker will join the bank as head of wealth management.
He previously served as chief executive officer at Edelman Financial Services, an adviser firm.
Bordeaux Wealth Advisors
The boutique investment advisory and wealth management firm has named James Hering as chief operating officer and wealth adviser.
Prior to joining Bordeaux, he served as chief executive and president of Union Square Investment Company.
Fiduciary Trust International
The global wealth manager and wholly-owned subsidiary of Franklin Templeton, has hired Julia Wirts as a portfolio manager.
Wirts was most recently an investment adviser at Hawthorn, PNC Family Wealth in Philadelphia.
Raymond James
The wealth firm hired financial advisor Mark Parker to its offices in Memphis, Tennessee.
Parker joins Raymond James from UBS Financial Services.
He is joined by senior financial planning consultant Ashley Towler and the team operates as Parker Wealth Advisory of Raymond James.
Elsewhere, Raymond James has hired financial adviser Stuart Malakoff to its offices in Bend, Oregon.
Malakoff joins Raymond James and affiliate Mainspring Wealth Advisors from Merrill Lynch.
Joining him are registered client associate Awbrey Gould, and branch associate Vicky Malakoff.
Rockefeller Capital Management
The US firm has expanded in Chicago with the addition of the CM Private Wealth group.
Led by Bill Colwyn and Dan Mendelson, who both join as managing directors and private wealth advisers, the CM Private Wealth group also includes team chief operating officer, Michelle McCabe.
CM Private Wealth joins Rockefeller from Merrill Lynch Wealth Management.
Cambridge Associates
The global investment firm has named Charles Grace III to its private client practice, who will serve as managing director of family enterprise solutions.
Grace joins from the Family Office Exchange.
RBC Wealth Management
The wealth firm has hired the Loupee/Graziani Wealth Management Group from UBS to join its Bloomfield Hills, Michigan office.
The group is composed of:
- Robert Loupee, managing director and financial adviser;
- Michael Graziani, senior vice president and financial adviser; and
- Barbara Pesci, senior client associate and client associate.
Elsewhere, RBC Wealth Management has promoted Kirstin Turner to the role of complex director for the firm’s newly created south atlantic operation.
