July 1, 2011

Barclays Wealth Adds 6 FAs from Merrill, Morgan Stanley & Goldman

The new advisors join the firm with $1.1 billion in assets and $26 million in trailing 12-month fees and commissions

Barclays Wealth said Wednesday that it hired six financial advisors from Merrill Lynch in its Boston, New York and Washington, D.C., offices, with a total of $1.1 billion in assets under management and yearly fees and commissions of $26 million.

"We are pleased to welcome these seasoned wealth-management professionals,” said Mitch Cox (left), head of Barclays Wealth-Americas and global research and investments. “We continue to attract experienced investment representatives looking to offer high net worth clients the breadth of Barclays’ global resources and its world-class intellectual capital, within the objective, independent framework of a boutique wealth manager.”

Barclays Wealth-Americas now has more than 250 advisors with about $270 billion in assets under management. About 85 of these advisors have joined in the past 18 months or so with a total of over $200 million in yearly fees and commissions and $40 billion-plus in assets under management.

Latest Hires

Daniel Caso is joining Barclays’ Boston operations from Merrill Lynch. Prior to Merrill Lynch, where he worked for the past four years, Caso was a managing director for the private-client services division of Bear Stearns. He will report to Marty Courage, the regional manager for Boston.

In New York, Robert E. Miller is joining Barclays Wealth from Goldman Sachs’ private-wealth management division. Most recently, he was a senior member of the markets desk, responsible for managing fixed income and equity portfolio.

Jorge Carreras and Carlos Molina are also coming on board to Barclays Wealth in New York from Morgan Stanley Smith Barney. Carreras has focused his work as an advisor on high net worth individuals and families in Latin America. Before joining Morgan Stanley Smith Barney in 2007, Carreras held private-banking roles at Merrill Lynch and Citibank.

Molina also has focused on the Latin American wealth-management market in his career, which includes several years of time as an advisor with Morgan Stanley and Merrill Lynch. He also worked in Mexico as a capital-markets analyst.

Miller, Carreras and Molina now report to Mark Stevenson, regional manager for Barclays Wealth in New York.

Douglas R. Bayer and Joseph Gilbert both join Barclays Wealth in Washington, D.C., from Morgan Stanley Smith Barney. 

Bayer’s wealth-management experience has been concentrated on Employee Stock Ownership Plans (ESOPs). He also has worked for Merrill Lynch the wealth management division. Gilbert, also an ESOP specialist, and Bayer now report to Michael Burke, regional manager for Washington, D.C.

“We look forward to working with these experienced professionals and seeing them thrive on the unique Barclays Wealth platform,” said Steve Houston (left), who oversees the regional offices and investment-representative network as head of Wealth Management-Americas.

Page 1 of 2
Single page view Reprints Discuss this story
This is where the comments go.