April 5, 2013 / 10:31 AM / in 5 years

MOVES-Goldman Sachs, AIG, Janney Montgomery, Bridgepoint

April 5 (Reuters) - The following financial services industry appointments were announced on Friday. To inform us of other job changes, email to moves@thomsonreuters.com.


The bank said on Thursday that Stephen Friedman, who headed the company when it was a private partnership, will retire from its board as he has reached the company’s age limit. The board formally accepted his retirement on Tuesday. It will take effect on May 22, the day before its annual meeting. Friedman, 75, has been a director since April 2005.


AIG said Morris Offit, chairman of Offit Capital, would step down from its board next month and the insurer would recommend two new directors. The company also said it has put in place a new executive compensation structure for 2013 free of the restrictions imposed by the Federal Government’s Troubled Asset Relief Program program.


The New York-based firm appointed Thaddeus Shelly as managing director and senior adviser. Shelly joins Tiedemann from Lazard Wealth Management, where he served as managing director and chief executive of the firm’s private wealth management effort in the United States.


The financial services firm owned by the Penn Mutual Life Insurance Co has expanded its adviser footprint in Connecticut with a veteran hire from top U.S. brokerage Morgan Stanley Wealth Management. Adviser Jonathan Fairbanks, who has worked in the advising industry for roughly three decades, moved to Janney on Thursday from Morgan Stanley, where he managed more than $100 million in client assets.


James Crosby, former CEO of bailed-out British lender HBOS and one of three executives severely criticized in a scathing report into the bank’s collapse, has resigned as an adviser to private equity firm Bridgepoint.


The company said on Thursday it formed a new investment team focused on retrofits of physical buildings and related energy efficiency opportunities. The team will be led by Jeff Baer, who was most recently Deutsche Bank’s head of Global Logistics Services for the past nine years. Baer will be based in New York and will be joined by three additional team members. The firm also named Anurag Mahesh as head of Wealth Management Coverage in Asia Pacific. He will report to Ravi Raju, head of the firm in Asia Pacific.

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