Boston Private Wealth has named Shannon Saccocia as its new chief investment officer.
Saccocia (pictured) was most recently chief investment strategist at the RIA. She retains the responsibilities of that role for the time being in addition to those of her new position, according to a Boston Private Wealth spokesman.
As chief investment officer, she is responsible for directing the firm’s investment strategy, research, portfolio management, trading, asset allocation and investment risk management.
Tom Anderson, her predecessor as CIO, dropped the position to focus on his other role as chief operating officer at the firm.
He had held both titles since the beginning of 2018 after serving as chief investment officer since 2015.
Scott Dell’Orfano, president of Boston Private Wealth, had previously been chief operating officer.
As chief operating officer, Anderson is responsible for both trust and client advisory services and business development. He also serves as national head of trust and fiduciary services for the firm.
Both Saccocia and Anderson report to Dell’Orfano.
‘They are both capable leaders who have worked closely together for the past several years, and I look forward to having them focus on their new roles with the same cohesion and encouragement they’ve already shown,’ Dell’Orfano said.
Before joining Boston Private Wealth, Saccocia had been director of manager search and selection at Silver Bridge Advisors, which was acquired by Banyan Partners in 2013. Banyan Partners was then in turn acquired by Boston Private Wealth in 2014.