Bank of America today announced the Global Banking, Securities and Wealth Management leadership team that will be in place once the combination with Merrill Lynch & Co. is complete.
Greg Fleming, currently president and chief operating officer of Merrill Lynch, will head Global Corporate and Investment Banking, which will include commercial banking. He will operate from New York. David Darnell, currently president of Global
Commercial Banking, will continue as head of Global Commercial Banking reporting to Fleming. He will operate from Charlotte.
Tom Montag, currently global head of Sales and Trading at Merrill Lynch, will be head of Global Markets which includes sales, trading and research. He will operate from New York. Capital Markets will report to both Montag and Fleming.
Peter Kraus, executive vice president of Global Strategy at Merrill Lynch, has decided to leave the company after the merger to pursue other opportunities. "While at Merrill Lynch Peter provided valuable insight and advice to me and the team. We know he will be successful in whatever he pursues and wish him well," Thain said.
Keith Banks, president of Global Wealth and Investment Management at Bank of America, will be head of U.S. Trust and Columbia Management. He will operate from New York.
Bob McCann, vice chairman and president, Global Wealth Management at Merrill Lynch, will be head of the combined financial advisor organization. He will operate from New York.
The leader of Global Wealth and Investment Management will be determined in the future as the company works to define the target environment through the transition process.
Cathy Bessant, president of Global Product Solutions at Bank of America, will be head of Global Product Solutions for the combined companies. She will operate from Charlotte.
Jim Kelly, Business Executive-Technology and Operations at Bank of America, will head technology and operations support for all of Thain's businesses. He will operate from Charlotte.
"With these talented individuals and others who will be announced as we move forward I am more than ever convinced that we will be the world's premier financial services company," Thain said.
Showing posts with label wealth management. Show all posts
Showing posts with label wealth management. Show all posts
Wednesday, 22 October 2008
Tuesday, 16 September 2008
WealthCraft Systems
WealthCraft Systems Inc. (OTCBB: WCSY) headquartered in Hong Kong SAR, is the parent company of WealthCraft Systems Ltd, an information technology company that designs, develops, markets and supports a flexible, scalable and secure technology platform for wealth management services to financial institutions, including investment advisory firms, securities brokerage firms, retail and private banks, mutual fund companies and insurance companies.
WealthCraft's Advisor Workbench enables professionals to develop their wealth management business while its ATOMS Order Management provides an integrated back-office system providing order execution, order management and portfolio and commission management. WealthCraft's products facilitate seamless implementation of the industry standard SWIFTNet Funds solution for automated mutual fund transactions.
ING Platform Services is part of ING Group, a global financial services company which offers banking, investments, life insurance and retirement services to over 85 million clients around the world, including Asia.
WealthCraft's Advisor Workbench enables professionals to develop their wealth management business while its ATOMS Order Management provides an integrated back-office system providing order execution, order management and portfolio and commission management. WealthCraft's products facilitate seamless implementation of the industry standard SWIFTNet Funds solution for automated mutual fund transactions.
ING Platform Services is part of ING Group, a global financial services company which offers banking, investments, life insurance and retirement services to over 85 million clients around the world, including Asia.
Friday, 5 September 2008
CNLBank
CNLBank is a $1.4 billion, state-chartered commercial bank headquartered in Orlando, Florida. With offices in Jacksonville, Sarasota, Ft. Myers, Naples, Boca Raton, and Ft. Lauderdale -- the bank serves the needs of business owners and high net worth individuals with a full range of commercial lending, deposit and mortgage products. Additionally, CNLBank Wealth Management, with over $800 million in assets under management, offers a comprehensive platform of investment management and estate planning services. For more information visit CNLBank on the web at www.cnlbank.com
Friday, 4 April 2008
Carne Global Launches Alternative Investments
Carne Global Financial Services Group (“Carne Global”) – the leading independent advisor to the European hedge fund and traditional fund management industries – today announces the opening of its Alternative Investment and Wealth Management Technology and Operational Consultancy divisions in London and the recruitment of senior industry figures Sunil Chadda and Phil Kitto to lead them respectively.
These divisions add technology capabilities to Carne Global’s existing operational services. The divisions will capitalise on Carne Global’s long established presence within the fund management industry, and build on its strong track record in providing tailored solutions, services and products for alternative asset managers and service providers.
Sunil Chadda joins Carne Global as Head of Alternative Investments where his focus will primarily be on developing and driving the firm’s alternative investment technology and operational offerings to alternatives players such as hedge funds, fund of hedge funds, fund administrators, prime brokers, and private equity managers.
Sunil joins from Citisoft, a London-based financial systems consultancy, where he held the position of Head of the Hedge Funds and Derivatives Practice for the last three years. Prior to Citisoft, Mr Chadda had a 15 year career with Schroder Investment Management, where he led the Fixed Income Fund Management Desk IT team. Mr Chadda has in-depth knowledge of financial markets, the software landscape, systems evaluation and implementation and operational procedures and controls, having worked in UK financial services for nearly 22 years.
Phil Kitto joins Carne Global from Citisoft, a London-based financial systems consultancy, to lead the new Global Wealth Management and Private Client division. His focus will primarily be on the development of the firm’s capabilities with regard to technology and operational offerings of wealth managers and private banks, outsource providers and software vendors.
Mr Kitto has in-depth understanding of financial markets, the software landscape, systems evaluation, platform implementation and operational procedures and controls accumulated with UBS, Baring Asset Management and MAM over a career in financial services of nearly 22 years.
Mr Chadda and Mr Kitto join Aymeric Lechartier, who was appointed by Carne Global earlier this year as Head of Business Development in London, formerly of Merrill Lynch.
The creation of the Alternative Investment and Wealth Management Technology and Operational Consultancy divisions marks another major milestone in the rapid growth of Carne Global, which now advises over 100 clients with assets under supervision of over US$200 billion, and has a staff of over 40 based in Dublin, London and Luxembourg.
Carne Global offers expertise in fund establishment, directorship programmes and comprehensive services to support managers in the operations and compliance of their products, which will be in greater demand as changes in regulation and national tax laws take effect.
John Donohoe, CEO of Carne Global, commented: “The entire fund management industry - both traditional and alternative - is experiencing high demand for expertise in risk management and technology, particularly with the convergence of those industries with wealth management. We are fortunate to be able to meet this demand with the addition of such highly respected industry figures as Phil Kitto and Sunil Chadda.”
These divisions add technology capabilities to Carne Global’s existing operational services. The divisions will capitalise on Carne Global’s long established presence within the fund management industry, and build on its strong track record in providing tailored solutions, services and products for alternative asset managers and service providers.
Sunil Chadda joins Carne Global as Head of Alternative Investments where his focus will primarily be on developing and driving the firm’s alternative investment technology and operational offerings to alternatives players such as hedge funds, fund of hedge funds, fund administrators, prime brokers, and private equity managers.
Sunil joins from Citisoft, a London-based financial systems consultancy, where he held the position of Head of the Hedge Funds and Derivatives Practice for the last three years. Prior to Citisoft, Mr Chadda had a 15 year career with Schroder Investment Management, where he led the Fixed Income Fund Management Desk IT team. Mr Chadda has in-depth knowledge of financial markets, the software landscape, systems evaluation and implementation and operational procedures and controls, having worked in UK financial services for nearly 22 years.
Phil Kitto joins Carne Global from Citisoft, a London-based financial systems consultancy, to lead the new Global Wealth Management and Private Client division. His focus will primarily be on the development of the firm’s capabilities with regard to technology and operational offerings of wealth managers and private banks, outsource providers and software vendors.
Mr Kitto has in-depth understanding of financial markets, the software landscape, systems evaluation, platform implementation and operational procedures and controls accumulated with UBS, Baring Asset Management and MAM over a career in financial services of nearly 22 years.
Mr Chadda and Mr Kitto join Aymeric Lechartier, who was appointed by Carne Global earlier this year as Head of Business Development in London, formerly of Merrill Lynch.
The creation of the Alternative Investment and Wealth Management Technology and Operational Consultancy divisions marks another major milestone in the rapid growth of Carne Global, which now advises over 100 clients with assets under supervision of over US$200 billion, and has a staff of over 40 based in Dublin, London and Luxembourg.
Carne Global offers expertise in fund establishment, directorship programmes and comprehensive services to support managers in the operations and compliance of their products, which will be in greater demand as changes in regulation and national tax laws take effect.
John Donohoe, CEO of Carne Global, commented: “The entire fund management industry - both traditional and alternative - is experiencing high demand for expertise in risk management and technology, particularly with the convergence of those industries with wealth management. We are fortunate to be able to meet this demand with the addition of such highly respected industry figures as Phil Kitto and Sunil Chadda.”
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