Barclays Wealth, a unit of Barclays PLC (BCS), hired a regional branch manager from Neuberger Berman and 14 investment representatives from rivals, continuing the firm's push to expand in wealth management in the Americas.

The investment representatives--the Barclays unit's name for financial advisers--together generated $51 million in fees and commissions and managed $4.45 billion in assets, according to a person familiar with the situation. The representatives joined Barclays from firms including Morgan Stanley Smith Barney, J.P. Morgan Chase & Co. (JPM), and UBS AG (UBS).

The hiring underscores Barclays's growth in the U.S. following its acquisition of Lehman Brothers Holdings Inc.'s (LEHMQ) private investment management unit after the collapse of the investment bank in late 2008.

Barclays Wealth recruited 50 investment representatives in 2009 and has added 41 of a planned 50 new hires so far this year, this person said. However, the firm has said it's more focused on adding top-tier representatives than reaching a specific headcount.

Within the Americas, Barclays Wealth has 14 offices in the U.S. and Argentina, including its trust office, and has 250 investment representatives. That number pales in comparison to the large brokerage forces of some competitors, but the Barclays unit focuses specifically on the richest of the rich, or clients with $10 million or more in investable assets.

Beyond the Americas, the firm also has plans for a broader wealth management expansion. In February, Barclays Wealth Chief Executive Tom Kalaris said the firm plans to invest an additional $500 million globally in the business, on top of an already planned $500 million investment over five years.

Among the new hires announced Wednesday, Barclays Wealth recruited Brian Sears from Neuberger Berman as regional manager for its Los Angeles office. Sears reports to Steve Houston, head of wealth management, Americas.

The firm also bolstered its southeastern presence, adding Tony Esses from HSBC Holdings Inc. (HBC), and James Hafele and Robert Sperber from Morgan Stanley Smith Barney. All three will work in the Barclays Wealth's Miami office.

Matthew Burton joined Barclays Wealth's Palm Beach, Fla., office from J.P. Morgan, while John Nicholas, Forest Simmons and Tom Pair will work in the Atlanta branch. Nicholas and Simmons joined from Morgan Stanley Private Wealth Management and BNY Mellon Wealth Management, respectively. Pair previously worked at UBS.

In the eastern U.S., new hires include Ron Willis and John-Paul Tomassetti, who joined the firm's New York office from J.P. Morgan's private bank. Former UBS advisers Rene Joliot, Edgar Ramirez and Romel Rodriguez will also work in that branch. All five representatives report to Mark Stevenson, a managing director and banch manager of that office.

Additionally, Barclays added Gerhard van Arkel and Brett Thomas Meyers in Philadelphia from Wilmington Trust Corp. (WL).

Globally, Barclays Wealth has 1,550 professionals who work with clients, more than doubling the 690 it reported four years ago. It boasted $232 billion in assets under management as of June 30.

-By Brett Philbin, Dow Jones Newswires; 212-416-2173; brett.philbin@dowjones.com
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