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Industry Spotlight > Broker Dealers

Merrill Adds $750M Ex-Barclays Group in Houston

By Janet Levaux

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Bank of America-Merrill Lynch (BAC) said Tuesday that it added a group of three advisors to its Private Banking & Investment Group in Texas. The advisors join from Barclays’ U.S. wealth management division: Barry Schneider, Chris Bera and Chris Dewhurst, who have managed about $750 million in client assets.

“Merrill Lynch is pleased to have Barry, Chris and Chris and their experienced team of wealth management advisors and analysts join our company,” said Dallas-based regional managing director Bob Johnson in a statement.

“They have clearly demonstrated success in the marketplace based on their high level of personal service to clients, combined 85-plus years of industry experience and outstanding reputation in the marketplace,” Johnson said. “We hold character in high regard and believe this team represents the Merrill Lynch Private Banking & Investment Group exceptionally well.”

The Schneider Bera Dewhurst Group is based in Houston. Schneider says he chose to move to Merrill Lynch because of its “broad range of capabilities.”

“We were extremely impressed with everyone at Merrill Lynch and are confident that the platform will help our team service our clients’ financial needs exceptionally well,” Schneider stated in a press release. “Merrill’s total focus on the client, and how best to serve the client, is unparalleled.”

Schneider began his financial career at Goldman Sachs in 1975. He also worked for Pru-Bache, Salomon Brothers, Morgan Stanley and Lehman Brothers, the U.S. operations of which were bought by Barclays in 2008. (Stifel Financial (SF) recently moved to buy Barclays’ wealth unit.)

Bera cut his teeth in the business at Morgan Stanley (MS), starting in 2001 and moved to Lehman Brothers in 2003, while Dewhurst became at advisor with Lehman in 2005. 

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