People Moves

Barclays Wealth Makes Round Of Hires From Merrill Lynch, MSSB, Goldman Sachs

Harriet Davies Editor - Family Wealth Report 30 June 2011

Barclays Wealth Makes Round Of Hires From Merrill Lynch, MSSB, Goldman Sachs

Barclays Wealth has added six investment representatives in the US, strengthening its presence in the key markets of Boston, New York and Washington DC, as the UK-listed banking group implements its expansion strategy in the country.

In Boston, Daniel Caso has joined the firm from Merrill Lynch, where he worked for the past four years. Before working at Merrill Lynch he was a managing director in the private client services division of Bear Stearns. He reports to Marty Courage, regional manager for Boston.

In New York, Barclays Wealth has hired Robert Miller from Goldman Sachs, where he had worked since 1996 and was most recently part of the wealth management division, and Jorge Carreras and Carlos Molina from Morgan Stanley Smith Barney’s private wealth unit.

Carreras and Molina both bring extensive experience of working with high net worth individuals and families in Latin America to the role, having both also worked at Merrill Lynch in the past.

Miller, Carreras and Molina report to Mark Stevenson, regional manager for New York.

In Washington DC, the bank has brought in Douglas Bayer and Joseph Gilbert as investment representatives from MSSB. Bayer has 18 years of wealth management experience, having joined his former firm in 1995 from Merrill Lynch, and specializes in employee stock ownership plans. Gilbert also has a focus on employee stock ownership plans.

The latest hires come after Barclays Wealth brought in five investment representatives to its Philadelphia, Chicago and Atlanta offices last month. The combined five IRs had over $35 million in trailing 12-month production and $18 billion in AuM. Before that, in March, the firm hired 14 investment representatives to its New York, Miami, San Francisco, Los Angeles and Boston offices. The three rounds of hiring are part of a high-profile push into the US market by the firm, including considerable investment in human capital.

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