Edward Jones announced in an SEC filing settling its revenue-sharing charges that managing partner Doug Hill would resign from his position at the end of 2005 (see story at right). The company has not announced his replacement. Hill took over from John Bachmann in early 2004, who had been the firm's leader since 1980.
Greg Fullmer, who had been with Goldman Sachs for 11 years, recently moved to UBS' office in downtown Los Angeles. He reportedly has over $1 billion in assets under management.
Nick Stonestreet has been promoted by Merrill Lynch to run the firm's Atlanta office of its private banking division, which serves ultra-high-net-worth customers. The firm currently has six such offices and plans on opening more, with Boston and Connecticut named as rumored coming locations.
Massachusetts-based third-party managed account provider Placemark Investments has named Alan Sislen to its board of directors. Sislen, previously of Merrill Lynch, is president of Managed Account Perspectives, a consulting firm. He will be working on the firm's unified managed account platform.
Cheryl Chiara has been named senior vice president of business development for the Financial Network Investment Corporation, a broker/dealer subsidiary of the ING Group. Chiara will be in charge of the firm's recruitment and “product management” division. She comes to the firm from Alger Funds, where she was national sales manager.
Merrill Lynch has hired Scott Kisting to co-head its global bank group, in charge of its small-business lending and consumer banking services. He has previously worked at Bank of America and Citizens Financial Group, as well as consulting Merrill Lynch. He will work with John Qua, the previous sole head of the group. His hiring is party of Merrill's “Beyond Banking” initiative.