Nov 5 (Reuters) - Barclays Plc said on Monday that it had hired 17 financial advisers from large rivals as the British bank strengthens its wealth management presence in the United States.
The new hires, spread across eight different Barclays’ offices in the United States, managed $9.4 billion in client assets at their previous jobs, bringing in almost $40 million in revenue in the last year.
In New York, Barclays hired Tom Dexter from Merrill Lynch Wealth Management. Dexter previously worked as an adviser for Morgan Stanley Wealth Management and Friedman, Billings, Ramsey & Co.
Also in New York, Barclays hired Brett Fleckman, formerly of J.P. Morgan Private Bank, and Mark O‘Shea, formerly of Morgan Stanley Wealth Management. Those hires came after Barclays announced in September that it hired Edward Moldaver in New York from Morgan Stanley Wealth Management.
Here is an overview of Barclays’ other hires:
-In Los Angeles, the bank hired Jonathan Bates from J.P. Morgan, where he specialized in municipal bonds, working with high-net-worth individuals and middle-market institutions. Bates previously worked at Citigroup Inc.
-In San Francisco, Barclays hired Hugh Beecher from Credit Suisse’s private banking division. He previously worked in the equities division of Goldman Sachs and founded Beecher Investment Management.
-In Boston, Barclays hired four advisers from J.P. Morgan Private Bank: Patrick Delahunty, Timothy King, Tim Humphrey and Brian Kelly.
-In Dallas, Barclays hired three advisers from Credit Suisse’s private banking division: Noble Nash, Mike Whorton and Chris Boley.
-In Atlanta, Barclays hired Scott Macolino from SunTrust Investment Services. He previously worked as a financial consultant at Merrill Lynch.
-In Miami, Barclays hired Carlos Gallo and Jeannie Adams-Camblin from the international division of UBS Financial Services.
Also in Florida, Barclays hired two advisers from Morgan Stanley Wealth Management: Irl Solomon for its Miami office and Clark Appleby for its Palm Beach office.
Barclays’ wealth and investment management division has 13 offices in the United States, including its trust company office.