Two new chapters are being formed in Washington, D.C., and will be under the guidance of Cal Simmons, a business executive, venture capitalist and angel investor.
TIGER 21, which stands for The Investment Group for Enhanced Results in the 21st Century, meets once a month so members can discuss wealth issues.
A secure Internet connection allows members to communicate with members of different chapters and each chapter gets together for a daylong meeting once a month, according to the organization. One exercise the groups perform when they meet is to have members defend their investment and asset allocation choices to the group.
The organization views investment education as a lifelong experience. "There are many fine educational and networking clubs in DC, but none that offer high-net-worth individuals the opportunity to exchange best-of-breed ideas and investment strategies on the opportunities, challenges and responsibilities of wealth," Simmons says. "I see our members benefiting from each others' insights, as well as the sharing of investment prospects."
CBRE Group Acquires Asian Real Estate Unit
CBRE Group Inc. has acquired ING Group NV's real estate investment management operations in Asia.
Combined with the acquisition in July of ING Clarion Real Estate Securities, CBRE investors' assets under management now total $63.6 billion.
The new acquisition is being merged with CBRE's existing real estate investment management operations in Asia. CBRE's acquisition of ING REIM's operations in Europe remains on schedule to close this quarter.
The total purchase price for the three IMG businesses is $940 million.
Richard Price, who was ING REIM's Asia leader, will serve as CEO of the combined company's Asia Pacific investment management platform.
-Karen DeMasters
On The Move
Baird has announced that veteran financial advisors Alexander Cushner and Russell Huebschle have joined the firm's San Francisco wealth management office. Cushner has been named managing director and Huebschle is vice president. Baird continues to expand its wealth management business throughout northern California with the addition of nine wealth management professionals, including five financial advisors, to the San Francisco office since March.
U.S. Trust has named Raymond Piacentini, a 30-year industry veteran, as northeast managing director. Piacentini, who will be based in New York, will work with professionals across U.S. Trust to meet the unique needs of the firm's clientele of high-net-worth individuals and families', spearheading U.S. Trust's expanding wealth management capabilities.
Neuberger Berman has opened a new office in Buenos Aires, Argentina. The office is the first in Latin America for New York-based Neuberger Berman, which now serves its global client base from 25 cities in 11 countries in North America, South America, Asia, Australia, and Europe.
Morningstar Inc. has announced that Greg Goff has joined the company as chief technology officer. Goff will be responsible for Morningstar's global technology strategy. Goff joins Morningstar from The Nielsen Company, where he served as senior vice president of global platform technology.
Sue Crosby has joined Mercer as a partner in the firm's investment consulting business, based in New York. Crosby will focus on growing Mercer's Implemented Consulting business and will support the firm's growing Endowment and Foundation Consulting practice. Mercer's commitment to both of these areas was strengthened by the recent acquisitions of Hammond Associates in St. Louis and Evaluation Associates of Norwalk, Conn.
-Kathy Lynch