Recruiting in 2017 is on a tear.

Raymond James says that it will provide custodial services to a new independent advisor firm with $1 billion in client assets. The group, Requisite Capital Management, was recently founded by two departing UBS employees in Dallas, Douglas John and Bryn Basiardanes Talkington.

Requisite Capital is working with FallLine Securities, a wealth management platform provider that uses Raymond James for clearing services.

“I am delighted to welcome Doug and Bryn and Requisite Capital as a new RIA partner firm” to the Investment Advisor Division, said Bill Van Law, head of the business, in a statement. He adds that he is “also very pleased to work with John [Strauss] and Peter [Ruhlin] at FallLine, as we help them serve the increasing number of advisory teams focused on the ultra-high net worth client segment.”

Prior to launching Requisite Capital, John and Talkington each were at UBS for more than 14 years.

“We are thrilled about our new company and our ability to define and manage the client experience. We look forward to delivering a broad array of investment opportunities and services using Raymond James resources combined with FallLine’s ultra-high net worth client focused platform,” John said in a statement.

“Technology is transforming the wealth management industry,” the advisor continued. “With the formation of Requisite, we can now embrace this new technology and use it as a catalyst to reshape how we deliver solutions for our clients. Our clients asked and we listened.”

John began his financial services career in 1996 with Merrill Lynch, spent three years with Alex. Brown/Deutsche Bank and then joined UBS in 2002. Talkington began her career with Olde Discount Corp. in 1994 and joined UBS in 2003, following short stints at Van Kampen Funds and Bear Stearns & Co.

First Republic News

First Republic Bank recruited two wealth managers from UBS in late June: Robert P. Gehlen and David J. Mucha, who join the firm in San Francisco. Gehlen has 25 years of industry experience, and Mucha has 20 years.

“Robert and David are two very experienced wealth professionals who have succeeded in helping clients grow and preserve their wealth,” said Bob Thornton, president of First Republic Private Wealth Management, in a statement. “Robert and David are committed to delivering exceptional client service and being active contributors to their communities.”

Gehlen, a certified financial planner, was with UBS from 2006 until mid-2017. Earlier in his career, he worked as a financial advisor at Smith Barney, Alex. Brown and Furman Selz.

Mucha, CFP, also spent more than 10 years at UBS after working for Alex. Brown and Prudential Securities.

First Republic Bank said in early July that Danielle Ambrose and Diane Hirschhorn, two wealth managers from Merrill Lynch, moved to the firm in in the Century City district of Los Angeles. Ambrose has 23 years of wealth management experience, while Hirschhorn has 20.

“Danielle and Diane are two very successful wealth management professionals with a long history of helping clients achieve their financial objectives,” Thornton explained in a statement.

Both women worked for Merrill Lynch from 2000 to 2017; Ambrose was with Goldman Sachs from 1994 to 2000, while Hirschhorn worked for Goldman from 1997 to 2000.

Founded in 1985, First Republic is a private bank and wealth firm that was purchased by Merrill in 2007 and later owned by Bank of America. In 2009, it was bought by two private equity firms, Colony Capital and General Atlantic.

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