Clarien Bank Appoints Thomas Sowanick

Clarien Bank Limited has today announced the appointment of Thomas Sowanick [pictured] as consultant Chief Investment Officer. Mr. Sowanick will be the bank’s lead investment advisor, responsible for advising and supporting senior management with product development, sales and other business functions across the bank.

Mr. Sowanick’s appointment complements Clarien as it develops towards its objective of becoming a preeminent, international financial institution, offering sophisticated products and services, combined with top level investment advice, to wealth management, asset management, private and corporate banking clients worldwide.

Mr. Sowanick brings over 30 years of experience in investment management and asset allocation, including over 25 years at Merrill Lynch, where he held a variety of roles, most notably Global Chief Investment Officer for its Private Client Group. After leaving Merrill Lynch, he acted as Chief Investment Officer at OmniVest Group, prior to which he was the Chief Investment Officer for Clearbrook Financial.

James Gibbons, Co-CEO of Clarien Bank Limited, said “We are confident that Mr. Sowanick will bring an established understanding of the needs of the bank’s private and institutional clients. We look forward to gaining from his expertise as we embark on the next stage of our international growth.”

Aside from leading Clarien’s investment advisory function and product development, Mr. Sowanick will also provide top level advice and support to the bank’s treasury function, and support the management and returns objective for the bank’s liquidity profile.

Mr. Sowanick commented, “In the last year the number of HNWIs has grown by 15%, the second largest increase since before the global financial crisis. As this market segment grows, so do the needs of these individuals. Combined with the continual rise and influence of institutional investors, it is crucial that banks adapt to the ever-changing needs of these clients.

“Clarien Bank, with its global reach and highly experienced management team, is well-positioned to do this. It has the infrastructure and insight in place to effectively service the complex needs of both private and institutional clients, who demand a highly sophisticated service. I look forward to contributing to the next stage of the bank’s growth as it develops internationally.”

Mr. Sowanick will support Clarien’s existing long standing management team, including the recently reappointed James Gibbons, previously Chairman of Capital G Bank who has been serving on an interim basis as Co-CEO, alongside Ian Truran.

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