People moves: Raymond James hire for ESOP practice, former Comerica CIO joins First Horizon

A series of senior appointments this week across wealth management, asset management and investment banking are reshaping leadership teams and expanding advisor-facing capabilities.

First Horizon Wealth Management has named Eric Teal senior vice president and chief investment officer, tasking him with overseeing investment strategy, portfolio construction and market guidance for clients. Teal joins from Comerica, where he served as CIO, and brings prior experience from US Bank Private Wealth Management and First Citizens Bank.

At Raymond James, the firm will establish a new ESOP Advisory investment banking practice and has appointed Mark Buchanan as managing director and head of the group. He was formerly with Stout, where he led its ESOP Investment Banking effort for three years. Prior investment banking advisory experience includes roles at Macquarie Capital, BMO Harris Bank, and Credit Suisse.

The unit will advise closely held companies and employee-owned firms on ESOP transactions, succession planning and capital strategy, while supporting financial advisors serving business-owner clients.

Wellington Management also made a strategic hire, appointing Chip Saltz as head of US Wealth Alternatives Distribution, a newly created role reflecting its long-term commitment to the US wealth market.

Reporting to Christina Kopec Rooney, head of US Wealth, Saltz will lead hedge fund and private investment distribution and manage advisor sales teams across wirehouses, independent and regional broker-dealers, and RIAs, while contributing to broader strategy development. He was previously  Global Head of Distribution Services at Harrison Street.

In asset management, Lazard Asset Management expanded its credit platform with the appointment of Gordon McKemie as managing director and head of leveraged loans and high yield. Based in New York, McKemie will build a dedicated leveraged loans capability within Lazard’s fixed income platform and work closely with the U.S. high yield team. He reports to Arnaud Brillois, global head of fixed income.

“Gordon’s arrival represents an important step in expanding our credit capabilities at a time when leveraged loans and high yield present compelling opportunities for investors seeking income and diversification,” Brillois said. “True to Lazard’s DNA, we are building with intention: combining deep fundamental research, disciplined portfolio construction, and a global perspective to provide clients with a leading platform across these rapidly evolving segments of the market.”

McKemie joins Lazard from Blackstone Credit & Insurance, where he was a managing director and portfolio manager in liquid credit strategies. His background also includes roles at Citigroup and Barclays Capital.

“I’m thrilled to join Lazard at a moment when the firm is investing in growth and strengthening its platform to better serve clients,” McKemie said. “Leveraged loans and high yield remain essential building blocks for many fixed income portfolios, and I look forward to helping expand Lazard’s offering, deepen client engagement, and deliver thoughtful credit solutions across market cycles.”