People Moves: Carson Hires Recruiter for Indie Channel
Carson Group, a registered investment advisor with over $62 billion in assets under management, announced it hired Kevin Peterson as senior vice president of business development for its independent channel.
Peterson will lead business development efforts, help independent advisors evaluate partnership opportunities with Carson, and support the expansion of the firm’s independent channel.
The move is part of Carson’s strategy of creating separate leadership teams for its 1099 independent offering and its W-2 employee option. CEO Burt White told Wealth Management that he envisions the firm remaining about 1/3rd independent channel and 2/3rds employee channel.
“I was drawn to Carson because I believe it’s uniquely positioned for where our industry is headed,” Peterson said in a statement.
Peterson has three decades of financial services experience, including most recently as senior vice president of sales at Osaic, where he led the firm’s recruiting organization. Before that, he helped launch Goldman Sachs Advisor Solutions and spent more than 16 years with TD Ameritrade Institutional, where he helped recruit and transition advisory firms to the platform.
Omaha, Neb.-based Carson currently has about 165 partner offices and more than 50 Carson Wealth locations.
PGIM Names Yaqub Ahmed Head of Defined Contribution Solutions
PGIM, the $1.5 trillion global asset management business of Prudential Financial, has hired Yaqub Ahmed from Franklin Templeton to lead its Defined Contribution Solutions business, the firm announced.
Ahmed will head the firm’s defined contribution investment strategy across institutional and wealth channels, bringing PGIM’s investment and advice to plan sponsors, consultants, advisors and participants.
“Qub brings deep expertise across the retirement landscape and a strong track record of building innovative solutions that address the evolving challenges facing retirement plans and their participants,” said Stuart Parker, head of Global Wealth at PGIM, said in a statement.
Ahmed will report to Parker in overseeing PGIM’s more than $190 billion in defined contribution assets.
He had been with Franklin Templeton for 17 years, most recently as global head of retirement, workplace and wealth, according to his LinkedIn. He has also served on boards and committees for various retirement industry associations and lobby groups.
“The DC market is entering a period of meaningful evolution as plan sponsors seek new ways to improve participant outcomes and provide access to a broader range of investment solutions spanning retirement income, alternatives and personalized outcomes,” Ahmed said in a statement.
City National Bank Names Two Leaders To Private Bank and Wealth Division
City National Bank, a Los Angeles-based bank owned by RBC, announced that it had named Darcy Roennfeldt as managing director and head of Trust & Estate Services and Shannon Patterson Saltos as regional managing director of the Private Bank, Eastern Region.
Roennfeldt, based in Los Angeles, will lead City National’s Trust & Estate Services team, overseeing wealth planning, fiduciary management and estate administration services for high-net-worth and ultra-high-net-worth clients, the bank said. She was hired from PNC Private Bank, where she oversaw fiduciary strategy, risk management and team development across multiple U.S. regions.
“With Darcy’s appointment as head of Trust & Estate Services, we’re reinforcing our strategic investment in and commitment to building exceptional wealth and estate capabilities,” Brandon Williams, executive vice president and head of City National Private Bank & Wealth Management, said in a statement.
Patterson Saltos, based in New York, will co-lead City National Private Bank with Steve Sherline, overseeing the team’s strategy in the Eastern region. She joins from M&T Bank Wilmington Trust, where she spent more than 19 years in various leadership roles, most recently as wealth market president responsible for the Connecticut and tri-state markets.
“Shannon is a proven leader, a successful builder and an expert in advising and delivering comprehensive wealth management solutions for high-net-worth and ultra-high-net-worth clients,” Williams said in a statement.
Glenmede Snags Northern Trust SVP to be Relationship Manager in Cleveland
Glenmede, a Philadelphia-based wealth and investment management firm with $53 billion in AUM, announced that Michael Novak has been hired as a relationship manager, wealth advisory, and managing director.
Novak, based in Cleveland, will provide fiduciary, advisory and wealth-planning guidance to support Glenmede clients and partner with advisory, tax and wealth-planning. He was most recently a senior fiduciary officer and senior vice president at Northern Trust Corporation, where he managed the trust practice in Ohio.
“Mike brings extensive experience as a fiduciary and trusted advisor in wealth management and estate planning to Glenmede,” Bethany Bryant, Ohio regional director, said in a statement.
Novak will report to Bryant and brings experience, including being a personal trust officer and senior vice president at Key Private Bank, managing high-net-worth client relationships in the Family Wealth division, according to the announcement.
Glenmede has made a number of regional director appointments this year, including in Pittsburgh, New York and Florida, according to firm announcements. The firm is owned by its leadership and employees.
