Top 10 Popular Moves Within Wealth & Asset Management - April 2023

The Wealth & Asset Management sector experienced a series of highly popular people moves in April 2023 across its diverse sub-sectors, including Fund Management, Hedge Fund, Private Equity, Public Funds, and Wealth Management. These moves involved influential individuals who play significant roles in shaping the industry. In this article, we will explore the top ten popular people moves within the Wealth & Asset Management sector for April 2023, highlighting the significance of these moves and their potential impact on the sector. Whether you are an investor, financial professional, or simply interested in the world of wealth and asset management, this article will provide valuable insights into the latest people moves and trends within the industry, keeping you informed about the key players driving innovation and success in the sector.

1. Justin Onuekwusi Departs LGIM for St James's Place as Chief Investment Officer

Justin Onuekwusi, a seasoned investment professional with over two decades of experience, has left Legal & General Investment Management (LGIM) to join St James's Place as the wealth management giant's chief investment officer. Onuekwusi, previously the head of retail investments, EMEA, and head of retail multi-asset funds at LGIM, will bring his expertise to his new role, reporting to director of investments Tom Beal. He is also recognised for his advocacy for diversity in the asset management industry, having received the Freedom of the City of London and co-founded the Diversity Project and #TalkAboutBlack campaign... (Read More)

2. Aditum Investment Management Welcomes Ali El Adou as New CIO

Aditum Investment Management Ltd., a prominent Dubai-based investment firm, has named Ali El Adou as its new Chief Investment Officer. With his extensive experience and knack for identifying lucrative opportunities, El Adou is poised to enhance Aditum's offerings in asset management, portfolio management, and financial advice. This strategic appointment underscores Aditum's commitment to solidifying its market presence and gaining a competitive advantage... (Read More)

3. Selim Elgen Takes the Helm of Citi Global Wealth for MENA and UAE

CitiGroup has announced the appointment of Selim Elgen as the leader of Citi Global Wealth for MENA and the UAE wealth business. Additionally, Venkat Mahadevan has been named the consumer business manager for Citi UAE's Citigold/Citigold private client, retail, and cards businesses. These strategic appointments highlight Citi's commitment to bolstering its presence in the MENA region and the UAE's thriving wealth management sector. Citi UAE serves as a pivotal hub within Citi's global wealth centers, which include Singapore, Hong Kong, the UAE, and London... (Read More)

4. High-Producing Financial Advisor Team Departs First Republic for JPMorgan

A high-performing team of financial advisors, headed by industry veterans Eric Yamin and Keith Caparelli, has departed First Republic's private wealth unit after just three months. The team, which had recently joined First Republic from Morgan Stanley, made the move to JPMorgan's wealth management unit this week. This transition highlights the competitive landscape within the industry and JPMorgan's appeal as a leading player in the market... (Read More)

5. Financial Advisors James Sheehan and Shawn Tighe Join LPL Financial

LPL Financial has announced that James Sheehan and Shawn Tighe have joined the firm's broker-dealer, RIA, and custodial platforms. The advisors, who join LPL from Raymond James, bring with them approximately $450 million in advisory and brokerage assets. They are the 30th team to join LPL Strategic Wealth Services, which provides modern supported independent solutions to financial advisors... (Read More)

6. Matt Warta Joins Bow River Capital as Managing Director for Software Growth Equity

Bow River Capital has announced the appointment of Matt Warta as a Managing Director on its Software Growth Equity team. With over 20 years of experience in the Software-as-a-Service (SaaS) industry, Warta will be responsible for overseeing majority-control transactions, leading boards of directors, and cultivating relationships with founders and tech CEOs within Bow River Capital's Software Growth Equity portfolio... (Read More)

7. Schroders PLC CFO Richard Keers to Retire; Richard Oldfield Named Successor

Richard Keers, Chief Financial Officer and director of Schroders PLC, is set to retire on October 2, with Richard Oldfield stepping in as his successor. Oldfield, currently the vice chairman and global markets leader at PricewaterhouseCoopers, will take on the role. Additionally, Schroders announced that their first-quarter assets under management exceeded analyst estimates... (Read More)

8. Mirova Appoints Zineb Bennani as CEO, Accelerating Global Development

Sustainability-focused investment manager, Mirova, has named Zineb Bennani as CEO of Mirova US and Global Head of Business Development. This strategic move aims to drive the company's global development forward. Mirova, a subsidiary of Natixis Investment Managers, focuses on long-term value creation combined with sustainable development. With plans for strategic global growth, the U.S. markets play a crucial role in raising assets under management, expanding impact investing, and developing private assets offerings. Mirova US currently manages $8.4 billion and boasts a dedicated team of over 25 professionals... (Read More)

9. Goldman Sachs Promotes Nishi Somaiya to Head of Private Banking, Demonstrating Commitment to Diversity

Goldman Sachs has announced the promotion of Nishi Somaiya to head their private banking unit. With her extensive experience and leadership capabilities, Somaiya will oversee the global operations of the firm's private banking business, providing investment advice and financial planning services to clients. This promotion highlights Goldman Sachs' commitment to diversity and inclusion, as Somaiya becomes one of the few women in the financial services industry to lead a private banking unit... (Read More)

10. Morgan Stanley Hires Top Wealth Advisor Steven Levine from First Republic Bank

In a departure from First Republic Bank, wealth advisor Steven Levine has joined Morgan Stanley in Palm Beach, Florida. Levine, ranked in the Barrons Top 1,200 Financial Advisors for 2023, brings a four-person team that managed $2.3 billion as of September 30. First Republic stock is down amid concerns over deposit decline following Silicon Valley Bank's collapse... (Read More)