People Moves: Modera Hires State Street Alum as CIO, Adds COO

Modera Wealth Management is making significant leadership changes as it manages 17.5 billion dollars in assets. The firm announced the appointment of Gaurav Mallik as chief investment officer and Shelly Kapoor as chief operating officer. Mallik joins the firm from Fiducia Advisors and brings two decades of experience from State Street Global Advisors. Kapoor joins the team after her tenure at Coldstream to oversee operations and technology.

These appointments occur alongside major shifts across the wealth management sector. Cresset, a Chicago-based firm with 250 billion dollars in assets, promoted Dheeraj Soni to chief technology officer. Soni previously led trading modernization efforts at J.P. Morgan Advisors. His new responsibilities at Cresset include infrastructure management, cybersecurity strategy, and oversight of the firm’s trading platforms.

HB Wealth is also expanding its reach by establishing a dedicated institutional advisory division. The firm hired senior advisors Mike Hill and Armond Reese to lead this segment. Both executives bring decades of experience from Truist Bank to the 32 billion dollar firm. This move formalizes the company’s work with nonprofits, foundations, and corporate clients.

Finally, Eton Advisors added Molly Baumberger to its leadership team as a senior wealth manager. Baumberger spent nearly twenty years at Northern Trust where she focused on trust, estate planning, and fiduciary matters. She will operate from Miami to support the firm’s multi-generational family and business owner clientele. These personnel moves reflect a period of growth and organizational restructuring among top registered investment advisors in the United States.