Lehman Brothers hired Holly Isdale as managing director and head of strategic wealth services within its private client group. She focuses on providing wealth services to ultra-high-net-worth clients, foundations and endowments, and reports to Alan Marantz, head of private client services at Lehman. She previously worked at Goldman Sachs as a managing director in the Mid-Atlantic region.
In addition, Lehman has nabbed several large producers from Bank of America in San Francisco as it continues to beef up its retail high-net-worth effort. Lehman hired Dagny Maidman, who had been with B of A since 1996, in January. Another large producer, Greg Abernathy, another B of A vet, was also brought over in January. In late February, Jeff Oster was hired by Lehman after nearly 11 years with B of A and its predecessors, and the firm also nabbed Neil Konigsberg, who had been with B of A since 1999. Lastly, Bruce Brugler, another large San Francisco-based producer, was added to Lehman's payroll in early March — he had been with B of A and its predecessors since 1997.
Merrill Lynch has hired Bruce Erickson, a top producer from San Francisco, away from Sanford C. Bernstein. Erickson, who had been with Bernstein for more than eight years, will be based in Merrill's Walnut Creek, Calif., office. In addition, Merrill named 12-year veteran Mary Allyn as the new chief operating officer of its private banking and investment group.
New York-based investment bank C.E. Unterberg, Towbin has hired Jack Burns as a principal and member of the private client services group. Burns comes to the bank from Credit Suisse First Boston, where he was a vice president.
The Money Management Institute elected four new members to its Board of Governors. The new board members are Lawrence Sinsimer of Eaton Vance; Thomas O'Shea of Fidelity Registered Investment Advisor Group; Bill Taylor of MFS; and Stephen Gresham of Phoenix Investment Partners.
A.G. Edwards' director of equity and fixed-income research Terry Dessent has retired from his position, which he had held for 27 years. Gregory Sigmund, assistant director, is replacing him.