Sign up today and take advantage of member-only content — the kind of timely, cutting edge industry insight that only Money Management Executive can deliver.
  • Exclusive Online Only Content
  • Free Daily Email News Alerts
  • Asset Management Blogs

DTCC Taps Donohoe for Risk Management Role

The Depository Trust & Clearing Corporation (DTCC) has named Credit Suisse executive Noel Donohoe to a newly created position of executive managing director and group chief risk officer.

Donohoe will join DTCC in August and be responsible for formulating and implementing DTCC's overall risk management strategy.

Donohoe will oversee DTCC's enterprise risk management, operational risk management and systemic risk teams. Donohoe will also serve as a member of DTCC's management committee and act as the principal advisor to the board and to its risk committee. He will report to Robert Druskin, DTCC's executive chairman.

Donohoe was most recently managing director and global head of product control at Credit Suisse, where he led efforts to build the organization's product control process globally, successfully creating an organizational structure, hiring key talent, and redesigning systems, processes and technology. In this role, he was a member of Credit Suisse's equity, fixed income and operational risk committees and was responsible for interacting with regulators in the U.S. and worldwide.

Prior to his tenure at Credit Suisse, Donohoe was co-head of global risk for Merrill Lynch, where he was responsible for market, credit and operational risk worldwide. He reported directly to the chairman and chief executive officer prior to the firm's merger with Bank of America.

From 2005 to 2008, Donohue was chief operating officer and partner of hedge fund management firm Dune Capital, and in the previous 11 years, Donohoe worked at Goldman Sachs, serving from 2000 to 2005 as head of firm-wide risk.


Great-West Enhances

Retirement Planning

Great-West Life & Annuity Insurance Company has appointed Sam Ghazaleh vice president of retirement solutions for its individual retirement account strategy, a new position.

"We're building an education resource center, further improving our IRA and retirement planning offerings, and adding new functionality to our distribution process," said Mitchell Graye, president and CEO of Great-West. "Sam is a hands-on executive who has an impressive record of leading these types of strategic initiatives."

Ghazaleh reports to Bob Shaw, executive vice president of individual markets. Ghazaleh comes to Great-West from Fidelity Investments, where he worked for 12 years in a variety of executive roles in the retirement services business.


Baird Hires Seven New

Advisers in the Midwest

Robert W. Baird & Co. has added seven new financial advisers to its Private Wealth Management group in the Midwest from Morgan Stanley Smith Barney and Wells Fargo Advisors.

The new hires will work in Ohio, South Dakota and Wisconsin and previously had a total of $420 million in assets under management.

In Cleveland, Baird has hired John Diemer as vice president. Diemer joins from Morgan Stanley Smith Barney, where he had $525,000 in annual fees and commissions and $110 million in assets under management.

In Columbus, Ohio, Baird has added two members of the Schwarz Group, including David Schwarz, who will serve as senior vice president, and Matthew Bruner. They also join from Morgan Stanley, where they had $840,000 in annual production and $100 million in assets under management.

In Wisconsin, Baird has hired Phyllis Lovrien in Madison and Jim Ritchay, Jr. in Green Bay. Both will serve as vice presidents.

Lovrien joins from Morgan Stanley as well, where she had $300,000 in annual fees and commissions and $40 million in assets under management. Ritchay also joins from Morgan Stanley, where he had $505,000 in annual production and $100 million in assets under management.

In Sioux Falls, S.D., Baird has added two team members from the Howard Group, including Mary Howard, who will serve as senior vice president, and William Perry. They join from Wells Fargo Advisors, where they had $625,000 in annual fees and commissions and $70 million in assets under management.


UBS Caps June Expansion

With NY, California Hires

UBS Wealth Management Americas has hired three new financial advisers in Beverly Hills, Calif., and New York, bringing its total adviser hires to 38 in June.

In Beverly Hills, UBS has hired Irwin Shapiro from RBC Securities, where he previously had $1.69 million in annual fees and commissions and $420 million in assets under management. Shapiro reports to Complex Director David Bigler.

In New York, UBS has hired Dimitrios Michelis and Garrick Montenegro from JPMorgan, where they had $1.4 million in annual production and $110 million in assets under management. They report to Complex Director Mara Glassel.


Citi Private Bank Hires

Zaharoff as Managing Dir.

Citi Private Bank has hired Alexander "Lex" Zaharoff as managing director and head of the North America investment lab.

Zaharoff will be based in Citi's New York office and report to North America Head of Investments Steve Bodurtha.

Zaharoff joins Citi after serving as managing director at private investment firm Carleon Capital Partners, which focuses on ultra-high-net-worth families. Prior to that, Zaharoff served as managing director and head of investment strategies in the Americas for HSBC Private Bank.

Zaharoff's appointment comes as Citi Private Bank also hired two other MDs in June. They include Patricia McDermott, who will serve as managing director and head of Connecticut and Westchester, and Christopher Adams, who will serve as managing director of investment finance. Citi Private Bank targets clients with $25 million or more in investable assets.