People Moves
Barclays Wealth Steps Up Its US Hiring Drive
Barclays Wealth intends to accelerate its US hiring efforts over the next two years, having already expanded its operations in the country, the firm’s Americas boss has said.
Barclays Wealth intends to accelerate its US hiring efforts over the next two years, having already expanded its operations in the country, the firm’s Americas boss was quoted by Reuters as saying.
The wealth arm of UK-listed Barclays said it hired seven advisors with a combined $2.24 billion in client assets and who generated $17 million of revenue in the past year. The new investment representatives expand Barclays Wealth’s presence in Boston, New York, Atlanta and Chicago, the report said. Barclays says it has hired 50 advisors in the Americas this year, giving it 250 representatives across the region.
Over the next few years, the bank intends to expand its Americas ranks to as many as 600 investor representatives, the report said.
"We're planning to accelerate our pace in 2011 and 2012 and we intend to be an important factor in the marketplace for the highest-end financial advisors," Mitch Cox, Barclays Wealth's Americas boss and its global head of research and investments, was quoted as saying in an interview.
Barclays Wealth later confirmed details of the hires in a press release.
Joining Barclays are James Egan of AllianceBernstein's Bernstein Global Wealth Management. He will work as an advisor in Boston. The Boston office also adds two Wilmington Trust advisors: Michael Reiser, chief investment officer for the Northeast, and Ria Hart.
In New York, Barclays Wealth hired George Kolodka. He most recently worked as a principal and senior advisor at Bernstein. Jamie Weeks and Hunter Hamm join the firm in Atlanta. Weeks for the past eight years worked at UBS Global Asset Management. Hamm recently worked at UBS as a financial advisor.
In Chicago, the firm hired Michael Schwartz, who for the past two years led a team at JP Morgan Private Wealth Management.
Barclays also announced that it hired John Cregan as its regional manager in Palm Beach, Florida, the news report said. Cregan joins Barclays Wealth from Hotchkiss Associates, a Chicago wealth management firm where he had served as chief executive.