Citisoft Group, the SEC, and Nasdaq also have People Moves news of their own.
BofA Names New Head of Wealth Management
Bank of America reports that John Thiel, current head of Merrill Lynch wealth management, has “decided to step down from his position and will take on a new role as vice chairman of global wealth and investment management (GWIM), effective January 1, 2017.”
Andy Sieg, current head of the company’s global wealth and retirement solutions division, will succeed Thiel, according to a statement.
“For the past five years, Sieg has led Global Wealth and Retirement Solutions (GWRS), comprised of the GWIM division’s product organization and retirement business,” the statement notes. “During that time, he worked with Thiel in the implementation of goals-based wealth management and has overseen the strong growth of the retirement business. Sieg was also instrumental in the firm’s development of a unified investment platform that will be critical to providing best-in-class investment solutions to clients.”
In addition, Sieg also currently manages the GWIM chief investment office, together with Keith Banks, president of U.S. Trust, according to the statement.
As vice chairman, Thiel will “advise Terry Laughlin, Bank of America vice chairman and head of global wealth and investment management, and the Bank of America and GWIM leadership teams on business integration, goals-based wealth management and regulatory matters,” according to the statement.
Citisoft Group Appoints Managing Partner & a Head of Vendor Relations
The Citisoft Group, an investment management consulting firm, reports the appointment of David Bates as managing partner of North American business and Jenny Mynahan as director of vendor relations.
Bates has nearly 20 years of investment management consulting experience and has been at Citisoft since 2008, according to a statement.
Mynahan has been a consultant with Citisoft for more than 10 years, the statement notes, pointing out that her experience “spans virtually all facets of the global investment management business with involvement in front, middle, and back office initiatives across a diverse set of clients. As director of vendor relations, she will be responsible for managing and growing Citisoft’s vendor and service provider relationships, and developing and maintaining Citisoft’s vendor intelligence.”
Both Mynahan and Bates will be based at Citisoft’s Boston office.
SEC Names Head of Analytics and Research Office
SEC officials report that David H. Saltiel, who joined the SEC in September, has been named to head the office of analytics and research in the division of trading and markets.
The office of analytics and research “provides expertise in quantitative data analysis, trading, portfolio management, and risk management, and examines topics such as market structure, new products, and rule filings by exchanges,” the commission says.
For the two years before he joined the SEC, Saltiel was chief economist at the municipal securities rulemaking board, according to the statement. Before that position, he was chief financial economist and director of data management and analytics at the U.S. Treasury Department’s Bureau of the Fiscal Service, where he also served as acting deputy assistant commissioner for debt management.
Nasdaq Promotes Two to EVP
Bjørn Sibbern, executive vice president, Nasdaq
Nasdaq reports that Stacie Swanstrom and Bjørn Sibbern have been promoted to executive vice president, of the exchange company’s corporate solutions and global information services (GIS) businesses, respectively.
Both positions report directly to Adena Friedman, president and chief operating officer (COO), Nasdaq, according to a statement.
Stacie Swanstrom, Bjørn Sibbern, executive vice president, Nasdaq
Swanstrom, a 20-plus-years Nasdaq veteran, was appointed senior vice president, heading Nasdaq corporate solutions, in June 2015, per the statement, while Sibbern, also a veteran, with a dozen years at Nasdaq, will be “responsible for leading the strategic direction of GIS while continuing to drive growth across Nasdaq’s index and data businesses.”
GIS “represents approximately $520 million or 24 percent of Nasdaq’s total annual net revenues and Corporate Solutions represents approximately $318 million or 15 percent of Nasdaq’s total annual net revenues,” notes the provider of trading, clearing, exchange technology, listing, information and public company services.
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