Deals & People

BoA Unveils Six Exec Appointments

Bank of America (BoA) announced Tuesday that it had tapped six executives for posts in the leadership team for its new Global Wealth&Investment Management (GWIM) Alternative Investments group.
Reported by Fred Schneyer

A BoA news release said the company had made the following appointments:

  • Spencer Boggess, Director of Hedge Fund Investments. Boggess will oversee ongoing portfolio management, research, performance reporting, database management and standards and practice review for Hedge Fund Investments. Previously, Boggess was the senior vice president of U.S. Trust and CEO of U.S. Trust Hedge Fund Management, Inc. He also serves as the portfolio manager for Excelsior Directional Hedge Fund of Funds, LLC.
  • James Bowden, Director of Private Equity Investments. Bowden will be responsible for managing day-to-day activities within the Private Equity Investments business, including ongoing portfolio management, research, performance reporting, database management and standards and practice review. Bowden formerly assisted in the creation of Bank of America Capital Advisors, LLC and served as its managing director, as well as the manager of Bank of America’s private equity fund-of-funds business.
  • Kathie Andrade, AI Network Executive. Andrade will focus on the development of the Alternative Investment network. Andrade formerly served as national business management executive for The Private Bank of Bank of America. She joined Bank of America in 1986 and has held management roles within finance, technology, sales, and product management teams.
  • Kristina McDonough, Institutional Channel director. McDonough will lead a team focused on developing new, and supporting existing alternative investment programs for institutional clients. McDonough previously served as a managing director of U.S. Trust and headed product management for U.S. Trust’s Alternative Investment Division.
  • Suzanne Sack, U.S. Trust Channel director. Sack will lead a team focused on developing new, and support existing, alternative investment programs exclusively for wealthy clients. Sack formerly served as the northeast regional president of The Private Bank of Bank of America. Before joining Bank of America, she served as director of private client services at Wachovia Securities.
  • Steven Suss, Chief Administrative Officer for Hedge Fund & Private Equity Investments. Suss will manage fund accounting, administrative oversight and tax reporting, as well as client reporting across the AI platform. He formerly served as the chief financial officer and chief compliance officer at Heirloom Capital Management.

“The group unites our alternative investment portfolio management, research and operations capabilities” said David Bailin, head of the GWIM Alternative Investments, in the press release. “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.”

According to the announcement, the group, expanded through the merger with US Trust, is responsible for alternative investment solutions for high net worth, endowment, foundation, pension fund and institutional clients, and currently oversees approximately $6 billion in client assets. With 68 employees, including a team of 22 research staff, the group oversees portfolio management and primary market research for hedge funds, private equity funds, real estate, venture capital and exchange funds.