ON THE MOVE-HighTower says hires Hollenbeck, a top Wells Fargo recruiter

NEW YORK, July 22 Tue Jul 22, 2014 12:20pm EDT

NEW YORK, July 22 (Reuters) - HighTower Advisors, the Chicago-based broker-dealer, said on Tuesday it hired Kimberly Hollenbeck, who has been heading recruiting and branch development at Wells Fargo & Co's independent adviser division.

Hollenbeck will join HighTower on Aug. 11, a Hightower spokeswoman said.

A Wells Fargo spokeswoman said the brokerage could not immediately comment on the report and messages to Hollenbeck were not returned.

Wells Fargo press releases have identified Hollenbeck as senior vice president and regional director of branch development for Wells Fargo Advisors Financial Network, or FiNet.

Hollenbeck led recruiting in five U.S. southwestern states and southern California for FiNet, Wells Fargo's independent broker-dealer for advisers who also function as business owners, Wells Fargo releases said.

Before FiNet, Hollenbeck spent four years with Raymond James Financial Services.

Last January, Ronald Sallet, another Wells Fargo FiNet regional director, left the brokerage for Dynasty Financial Partners, Dynasty said. Dynasty is a New York firm founded by former Smith Barney and Citigroup executives that designs technology and investment products for independent advisers.

Sallet joined Dynasty on Jan. 22 as senior vice president of network development in charge of recruiting independent adviser firms from FiNet, where he was a managing director and co-leader of branch development and marketing.

(Reporting by Elizabeth Dilts Editing by W Simon)

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