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May 18, 2011 at 09:45 AM
Barclays Wealth said Wednesday that it hired five financial advisors from Morgan Stanley, UBS, J.P. Morgan and Goldman Sachs for its offices in Chicago, Philadelphia and Atlanta. According to Barclays, the combined FAs had over $35 million in yearly fees and commissions and $18 billion in combined assets under management.
“We welcome these highly experienced wealth professionals,” said Mitch Cox (left), head of Barclays Wealth in the Americas and head of research and investments worldwide. "We continue to find that our combination of wealth management experience, business growth, and direct access to the world-class resources of Barclays globally, is a compelling platform for seasoned advisors serving the needs of high net worth individuals and families."
Joining Barclays in Chicago is Brian Maddox, formerly with Morgan Stanley Smith Barney. Maddox started his wealth-management career at Merrill Lynch in 1982 and joined Smith Barney in 1986.
Michael Schafer, previously with Goldman Sachs since 2002, is also joining Barclays in Chicago. Both he and Maddox now report to Chris Williams, the regional manager for the Windy City.
In Atlanta, Jonathan Pakula has become part of Barclays Wealth after leaving UBS. He was with UBS since 2000 and previously with Paine Webber. Pakula now reports to Atlanta regional manager Linda Eydt.
“We are delighted to welcome these seasoned investment representatives to Barclays Wealth,” said Steve Houston (left), who oversees the regional offices and advisor network as head of wealth management for the Americas.