Wednesday, 4 March 2015
Last updated 13 hours ago
Aug 8 2007 | 9:55am ET
Bank of America has announced six appointments to its new global wealth and investment management alternative investments group, and all but one are from within.
The new group, created through BofA’s merger with U.S. Trust, oversees about $6 billion in alternative investments for high net-worth investors, endowments, foundations, pension funds and other institutional clients. It is led by David Bailin, the former head of alternative investments at U.S. Trust.
Kathie Andrade, formerly an executive with the Private Bank of Bank of America, will lead the new group’s alternative investments network, which seeks to give clients access to all of BofA’s alternative products.
Kristina McDonough, who headed alternative investment product management at U.S. Trust, was named institutional channel director. Former BofA Private Bank Northeast Region President Suzanne Sack will serve as U.S. Trust channel director.
Finally, Steve Suss, most recently CFO and chief compliance officer at Greenwich, Conn.-based Heirloom Capital Management, joins the new group as chief administrative officer for hedge fund and p.e. investments.
Spencer Boggess, former CEO of U.S. Trust Hedge Fund Management, has been named director of hedge fund investments. James Bowden, who prior to the merger helped found Bank of America Capital Advisors and managed BofA’s private equity fund-of-funds business, will serve as director of p.e. investments.
“The group unites our alternative investment portfolio management, research and operations capabilities,” Bailin said. “We have independent teams dedicated to our high net worth and institutional clients, providing access to world class investment talent across the broad range of alternative investments via a unique mix of products. We are also enhancing our significant in-house research capability to educate and inform our clients about the most effective ways to use alternative investments in their portfolios.”
Jan 23 2015 | 1:00pm ET
In our new section, FINtech Focus, we will profile one of these firms each week. While fintech is a broad category, we will be focusing on firms that specifically cater to the alternative investment industry. Read more…