Raymond J. Hayes, a 37-year industry veteran, joins J.P. Morgan’s division of traditional brokers as the firm envisions doubling its headcount over the next five to seven years.
UBS returns to the private banking well after hiring a number of traditional brokers in the past month.
Four-advisor UBS team managing $470 million joined in Ft. Myers, while a father-daughter team overseeing $138 million shifted from Merrill in Pennsylvania.
Broker, who started at Merrill Lynch in 1994, had been managing $500 million in assets at RBC, according to a source
A $3-million ‘next gen’ broker marks Rockefeller’s 61st team since its 2018 recapitalization.
Francis Ciocari, who had logged eight years at Morgan Stanley and 15 at Merrill Lynch prior to that, managed $300 million in client assets, according to an announcement.
Career Merrill brokers had overseen $600 million in assets, a Rockefeller spokesperson confirmed.
The duo, who started within three months of each other in 1986, managed over $1.6 billion in assets, according to a source familiar with their practice.
The case marks at least the second agreement that J.P. Morgan has secured against large private bank defectors in recent months.
Ashley C. Evans, a top-ranked next-generation broker, had managed $350 million in assets, according to a source familiar with her practice.