STREET MOVES: Barclays Wealth Hires 7 Investment Representatives
December 06 2010 - 4:32PM
Dow Jones News
Barclays Wealth, a unit of Barclays PLC (BCS), recently hired
seven investment representatives from rivals who, at those firms,
had a combined $17 million in annual production and managed $2.2
billion in client assets.
The new hires joined the Barclays unit from firms including J.P.
Morgan Chase & Co. (JPM) and UBS AG (UBS), as the firm
continues to build up its Americas wealth business.
"We have been very successful in recruiting top advisers this
year," said Mitch Cox, head of Barclays Wealth, Americas, and head
of Research and Investments globally for the firm in a
statement.
Cox said he expects Barclays to "meet our goal of attracting
many more high-performing advisers in 2011."
Among the new investment representatives--the firm's name for
financial advisers--are James Egan and George Kolodka, who joined
from Bernstein Global Wealth Management, and Michael Reiser and Ria
Hart, who were hired from Wilmington Trust Corp. (WL). Egan,
Reiser, and Hart are based in Boston, while Kolodka works in New
York.
Other new hires include UBS veterans Jamie Weeks III and Hunter
Hamm, who are based in Atlanta, while Michael Schwartz joined the
firm from J.P. Morgan in Chicago.
Additionally, Barclays Wealth named John Cregan regional manager
of its Palm Beach, Fla., office. Cregan, who was previously chief
executive of Hotchkiss Associates--a Chicago-based wealth
management firm--reports to Steve Houston, head of Wealth
Management, who oversees the firm's regional managers and
investment representative network in the Americas.
Within the Americas, Barclays Wealth has 14 offices in the U.S.
and Argentina, including its trust office, and has 250 investment
representatives. The Barclays unit focuses specifically on the
richest of the rich, or clients with $10 million or more in
investable assets and globally manages $251 billion of client
assets, as of Sept. 30.
-By Brett Philbin, Dow Jones Newswires; 212-416-2173;
brett.philbin@dowjones.com
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