Barclays (BC) said Monday that it recruited two former Morgan Stanley Smith Barney (MSSB) advisors in Los Angeles. With the latest additions, it has added about $32 million in annual fees and commissions and about $2.7 billion in assets under management to its Los Angeles branch in Century City over the past six months.
“We are very pleased to welcome these highly talented investment representatives to our firm,” said Mitch Cox (left), head of Wealth Management-Americas for Barclays, in a press release. “Serving the ultra-high-net worth population in Los Angeles and Southern California is an integral part of our strategic plans in the Americas.”
The two investment representatives most recently joining Barclay’s Los Angeles office are Matthew Celenza and Larry DiGioia, who catered to the ultra-high-net-worth segment at MSSB and together have more than 40 years of experience in the business. They now report to Brian Sears, managing director and regional manager for Barclays in Los Angeles.
“Our unique combination of custom wealth management, rich intellectual capital and direct access to the global resources of Barclays continues to attract top-performing advisors, like Matthew and Larry, as well as their clients, who seek a world-class platform with the high touch of a boutique,” Cox said.
Celenza and DiGioia co-founded the Wilshire Group four years ago. Celenza previously worked for Morgan Stanley and Citigroup (C), while DiGioia had been an advisor for Lehman Brothers and Merrill Lynch before joining Smith Barney.
For his part, Sears, who came on board Barclays in Southern California in September 2010, has doubled the size of the office, according to the company. In the past six months, he has helped recruit Lisa Amster from Goldman Sachs (GS); Audra Lalley from Morgan Stanley Private Wealth Management; Mark T. Lindee from Wells Fargo (WFC); and Kevin Monaco, David Garfin and Scott Madison from Credit Suisse Private Banking (CS).
“We continue to invest in our people and the regions in which we do business,” said Sears, in a statement. “The addition of experienced teams, such as Matthew and Larry, further underscores our commitment to delivering Barclays capabilities, in a customized way, to the ultra-high-net-worth individuals and families of Southern California. I look forward to having these professionals join our Los Angeles office as we continue growing.”
Sears joined Barclays 18 months ago from Neuberger Berman; prior to that, he was an investment advisor at Goldman Sachs, Merrill Lynch and Lehman Brothers.
The Wealth and Investment Management Division of Barclays now has 13 offices across the U.S. with more than 250 financial advisors.