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Barclays Wealth poaches six more U.S. advisers
June 29, 2011 / 1:50 PM / in 6 years

Barclays Wealth poaches six more U.S. advisers

* Barclays adds advisers in Boston, New York, Washington

* Six new advisers generated $26 mln revenue

NEW YORK, June 29 (Reuters) - Barclays PLC (BARC.L) on Wednesday said it added six more financial advisers to its wealth management offices in Boston, New York and Washington.

Barclays Wealth, which bought Lehman Brothers’ private client business in 2008, has been on a recruiting spree for the past year and a half. The latest hires generated more than $26 million of revenue in the past year and helped manage $1.1 billion in client assets, Barclays said.

The latest hires include Daniel Caso of Bank of America Merrill Lynch (BAC.N), a 25-year veteran, in Boston. He previously worked as an adviser at Bear Stearns, Oppenheimer and Lehman.

In New York, Barclays hired Robert Miller from Goldman Sachs Private Wealth Management (GS.N). The 19-year adviser most recently managed fixed-income and equity portfolios for rich people and family offices.

Also joining in New York are Jorge Carreras and Carlos Molina, from Morgan Stanley Smith Barney’s (MS.N) (C.N) private wealth management business.

Barclays also hired two Morgan Stanley advisers in Washington: Douglas Bayer and Joseph Gilbert. Both men specialized in employee stock plans.

Since launching its “Project Gamma” expansion plan in January last year, Barclays Wealth Americas has hired 85 advisers generating $200 million and managing $40 billion in client assets. (Reporting by Joseph A. Giannone. Editing by Robert MacMillan)

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