Another manager has found the path from Prudential to UBS PaineWebber. The manager of Prudential's Aventura, Fla., branch, Marc Margolies, has been wooed to PaineWebber as business manager of the Central Division. Margolies worked at Prudential from 1994 until mid-April, before deciding to move on. Margolies is the son of Joel Margolies, who worked with Citigroup CEO Sanford Weill.
Michael Logan, formerly senior vice president of investments for SSB's Boca Raton office, has joined Raymond James as its senior VP of investments. Logan will remain in Boca Raton, where he had worked for SSB for eight years. He will be in charge of financial and retirement planning, along with money management for high-net-worth clients.
Amy Butte, who was put in charge of Credit Suisse First Boston's diversity program, has decided to leave the firm. Butte worked as the Chief Financial Officer of the company's financial services division, but only for a year. She previously worked as an analyst for Bear Stearns. She gave no reason for her departure. Some suspect CSFB's sale of its Pershing clearing business, a subsidiary she oversaw, played a part — and she has not announced future plans.
The Hartford Financial Services Group hired Michael Kalen as senior vice president for its life insurance subsidiary. He came to the group from Prudential, where he worked in sales, marketing and finance for 20 years. He will be in charge of individual life distribution.
William L. Atwell has been named the new head of Client Sales and Service for Charles Schwab. He also will serve as head of Schwab Bank. The move goes hand-in-hand with Schwab's restructuring of the Individual Investor division, which will fold into Schwab Bank. Atwell previously worked as executive vice president of institutional banking for Schwab.