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Practice Management > Building Your Business

Advisors on the Go: Barclays Adds 3, Baird Picks Up 2 and Raymond James Hires 1

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Barclays Wealth said Wednesday that it had hired three advisors for its Latin American ultra-high-net-worth operations from HSBC and JP Morgan, while Baird announced on the same day that it had picked up two advisors in San Francisco from Credit Suisse. On Monday, Raymond James employee-channel added a top producer in Houston that joined from Morgan Stanley Smith Barney.

Barclays says Narciso Muñoz, formerly with HSBC’s International Private Bank, is now based at its Miami office. Muñoz has about 17 years in the wealth-management business with a focus on Argentina that includes work for BankBoston.

Isaac Topel and Andres Cazenave are working for Barclays in Geneva as part of a 70-member team of advisors and bankers serving the needs of Latin American clients. They join from JP Morgan. Earlier, Topel worked for BankBoston, PaineWebber and Merrill Lynch, while Cazenave was employed by UBS and HSBC.

“Over the last decade, Latin America has seen extensive growth in the wealth market and for Barclays this is a priority area for expansion as we continue to build our integrated global wealth-management business,” said Steve Houston, head of wealth management for the Americas, in a press release.

As part of its growing focus on Latin American clients, Barclays Wealth says it hired Daniel Esslinger earlier this year as a managing director and head of Latin American relationship management and distribution in the Americas in Miami. It also added Thomas Roiz as a managing director and market head for Latin America in Europe, the Middle East and Africa; he is based in Geneva.

In addition to Wednesday’s hires, Barclays said it added four advisors from UBS, two advisors from HSBC and two advisors from Morgan Stanley to join its offices in the Americas over the past 18 months.

These operations include 13 offices in Miami, New York, Houston and other cities.

“Over the last year and a half, our strategy for building a robust wealth management offering for Latin American ultra-high-net-worth clients has accelerated,” said Mitch Cox, head of Barclays Wealth in the Americas and head of research and investments globally, in a statement. “We are pleased to welcome these talented and experienced individuals to the firm to help build our Latin American business.”

Baird’s Latest Hires

Baird said Wednesday that Alexander S. Cushner and Russell P. Huebschle joined its San Francisco wealth-management office. Both Cushner and Huebschle worked previously with Credit Suisse Private Banking.

Cushner oversees about $300 million in assets and generates $2.6 million in annual production, according to Baird. Huebschle manages a book that has $140 million in assets with $1.4 million in yearly fees and commissions.

Baird, which is employee owned, says it continues to expand its wealth management business and the firm’s broader platform in San Francisco and throughout Northern California. The firm has added nine wealth-management professionals, including five financial advisors, to this office since March.

“As we continue to grow our presence in San Francisco and the Bay Area, adding these high-caliber wealth management professionals will enable us to extend our reach to serve more high-net-worth families and individuals,” said Bill Welsh, branch manager of Baird’s San Francisco wealth-management office, in a press release.

Baird has added more than 200 financial advisors and branch managers to its private wealth-management group since the beginning of 2009. It now includes more than 680 FAs and nearly $70 million in assets.

Raymond James’ Recruiting

Raymond James said Monday that it hired Cheryl Peschke to be senior vice president of investments in the West Houston office. She joins the firm as part of its employee channel, Raymond James & Associates.

“We are thrilled that Cheryl has joined our West Houston office,” said Chuck Zimmerman, the branch manager for RJA, in a press release. “Cheryl exemplifies a deep caring for her clients, which is totally in line with what Raymond James is all about.”

A 21-year industry veteran, Peschke previously managed $92 million in client assets with more than $1 million in production for Morgan Stanley Smith Barney. She began her career as a financial advisor with Shearson Lehman Hutton in New York in 1989 and also spent time with Dean Witter, Paine Webber and UBS.

“I chose to join Raymond James because it is a successful, conservatively managed firm that cares about its clients first and offers its advisors great support,” said Peschke, in a statement. “Plus, I like that a large percentage of the firm’s stock is held by the James family and the firm’s associates, and advisors have direct access to senior leadership. The firm’s values resonated with me.”

Peschke specializes in advising retirement planning for clients who’ve worked for oil and gas utilities and energy companies in the Houston area.


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