First Republic Lands J.P. Morgan Boston Team with $3.3-Mln Production
The veteran broker merry-go-round continues to spin as First Republic hired a $3.3 million team in Boston from J.P. Morgan Advisors, according to a person familiar with the move.
The move came the same day that J.P. Morgan Advisors hired a $3.7 million team led by 28-year brokerage veteran James W. Taylor from UBS Wealth Management USA in the same city.
A spokesperson for J.P. Morgan declined to comment. The bank has around 450 brokers in its J.P. Morgan Advisors unit, which was seeded by the Bear Stearns brokerage group J.P. Morgan acquired during the financial crisis.
Grenert and MacIntyre are the sixth team to join First Republic this year following a $1.2 million Merrill Lynch broker Daniel O. Jennings, who joined the San Francisco-based bank in Los Angeles last month. First Republic has around 200 wealth managers in its investment management unit and hired eight teams total last year and 10 in 2019.
First Republic is Grenert’s eighth firm over his 34-year career, according to his BrokerCheck record. He started at Painewebber Inc. in 1987 and worked for three- to five-year stints at Prudential Securities, Merrill Lynch, UBS, RBC Dain Rauscher, and Deutsche Bank Securities before joining J.P. Morgan Advisors–then known as J.P. Morgan Securities–in 2013.
MacIntyre began his career at Prudential Securities as well but in 1995. He moved to Merrill the following year and also spent six years at UBS and two years at RBC before moving with Grenert to Deutsche Bank in 2008 and then J.P. Morgan Securities in 2013, according to BrokerCheck.
“Scott Grenert and Kevin MacIntyre are highly regarded wealth managers in the Boston area and have been successful providing comprehensive solutions to clients with complex needs,” Bob Thornton, president of First Republic Private Wealth Management, said in a prepared statement.