Rauh joins investment firm
Hirtle, Callaghan & Co., one of the nation’s largest privately held investment firms, has hired veteran Milwaukee banker James Rauh to be its regional managing director and head of its Chicago office.
Rauh brings more than 30 years of investment leadership experience, to his new position at the company, which is based in West Conshohocken, Pa.
Rauh spent the last 13 years in senior leadership positions at Northern Trust Company. He most recently served as executive vice president and head of the Advisory Services Group for the company’s Personal Financial Services division. Additionally, he served as a director of Northern Trust Global Advisor, Inc., and a director and registered principal of Northern Trust Securities Inc. He previously oversaw Northern Trust’s Milwaukee office.
Before joining Northern Trust, Rauh served on the management committee of Samuel C. Johnson’s bank holding company, Johnson Financial Group. Rauh was president of both Johnson Trust Company and Johnson Asset Management.
Rauh also spent more than 20 years with Robert W. Baird & Co. Inc. in Milwaukee, where he served as senior vice president, director and member of several committees.
"I’m delighted to welcome Jim Rauh to Hirtle Callaghan," said Jonathan Hirtle, chief executive officer. "We continue to grow, because our clients continue to place their trust in our business model. The Hirtle Callaghan culture emphasizes service, logic, discipline and integrity, and we are very pleased that Jim has joined our team."
Hirtle Callaghan manages $20 billion in assets. Founded in 1988, the company’s clients include family groups, endowments, foundations and pension funds.
Schlifske will succeed Zore as Northwestern Mutual’s CEO
The board of trustees of Northwestern Mutual Life Insurance Company on Wednesday elected John Schlifske to be the company’s next chairman and chief executive officer.
Schlifske, currently president, will become CEO on July 1 and chairman and CEO on Aug. 1 after the retirement of Edward Zore, currently chairman and CEO.
"It’s an honor to follow in the footsteps of so many dedicated leaders who have built this company," Schlifske said. "Ed Zore will be leaving Northwestern Mutual in an exceptionally strong position, after significantly growing the business and guiding our organization through the worst economic meltdown of our lives. That speaks to his leadership and the strength and stability of Northwestern Mutual."
Zore, who has been CEO since 2001, will continue to serve on the board after his retirement.
"John Schlifske is a great leader and has the vision to make Northwestern Mutual even stronger," Zore said. "He brings to the role a keen understanding of our business and the passion to do what’s right for our policyowners and clients."
Schlifske joined Northwestern Mutual in 1987 as an investment specialist and began to hold positions of increasing authority in the securities and real estate departments. He then led the Northwestern Mutual investment products and services business as executive vice president from 2004 to 2008 before serving as president and CEO of Northwestern Mutual subsidiary Russell Investments from 2008 to 2009. He was appointed Northwestern Mutual president in 2009.
Schlifske, 51, grew up in Shorewood. He received a bachelor’s degree in economics from Carleton College in Northfield, Minn., in 1981, and a master’s degree in finance and accounting from the Kellogg Graduate School of Management at Northwestern University in Evanston, Ill., in 1983.
The Northwestern Mutual board also named Gary "Skip" Poliner, 56, president and chief risk officer, effective Aug. 1. Poliner is currently executive vice president, chief risk officer and a member of the company’s board of trustees. He will report to Schlifske.
To commemorate his 40-year career at Northwestern Mutual, Zore will join more than 200 employees, volunteers, kids and organizers to build a playground in a single day on June 1 at the Boys & Girls Clubs of Greater Milwaukee’s Camp Whitcomb/Mason in Hartland. Zore also will announce scholarships to send 40 metro-Milwaukee children to Camp Whitcomb/Mason’s resident camp and an additional 40 kids to its day camp.
The event will kick off Northwestern Mutual’s “Leaving a Legacy for Future Generations” volunteer campaign. Zore is offering Northwestern Mutual’s 5,000 employees four hours of paid-time off to volunteer for a nonprofit in 2010. The company hopes to commit to one million minutes of volunteer time in its local communities by the end of the year.
Baird expands financial advisory team in Milwaukee
Robert W. Baird & Co. Inc. has added a veteran financial advisor team, The WE Group, with a total of five wealth management professionals, to its Milwaukee office.
The new talent brings the number of financial advisors in Baird’s largest wealth management office to 60. Previously with UBS, The WE Group brings 50 years of combined industry experience to Baird.
The following financial advisors have joined Baird: Paul Westphal, CIMA, director; John Ethington, CFP, CPA, senior vice president; Dan Gilipsky, financial advisor; and Tyler Briggs, financial advisor. They are joined by client relationship assistant Paula Scherbarth.
Westphal previously managed UBS’ Milwaukee office. Prior to that, he was a complex manager at UBS and Piper Jaffray.
“These well-respected and talented financial professionals are a strong addition to Baird’s home team,” said Pat Powell, managing director and branch manager of Baird’s Milwaukee wealth management office. “We are very pleased that Baird’s strong culture and our people, combined with a broad platform of services and capabilities, made us the best place for them to continue serving their clients and building their business. This talent addition demonstrates Baird’s continued strength and ability to attract top-tier senior talent in Milwaukee and beyond who share our values and client focus.”
Baird added more than 100 financial advisors to its Private Wealth Management group in 2009 and has added 34 financial advisors and branch managers since the beginning of 2010.
