Barclays Wealth has named a new head of its wealth management efforts in the Americas.
Former-Merrill Lynch executive Steve Houston is now responsible “for building the firm’s high net worth client business as well as managing and expanding the investment representative network,” the company said in a press release.
Houston is replacing Jack Peterson, who is becoming an investment rep in Barclay’s New York branch.
Barclays Wealth has about 250 advisors in the United States and Latin America, and a total of 1,680 FAs worldwide. Total assets under management were about $240 billion as of December 31, 2009.
Houston reports to Mitch Cox, head of Barclays Wealth, Americas, and global research and investments for all of Barclays Wealth. (Cox is also a Merrill Lynch veteran.)
“Over more than two decades of private wealth experience, Steve has developed a deep understanding of client needs and demonstrated an outstanding ability to lead wealth businesses,” said Cox in a statement.