Recent industry movement and recruitment activity.
First Republic lures longtime brokerage team of Jeff Sherman and Art Karabelas, who have worked together at Lehman and JPM, and points in between, for about two decades.
Five wirehouse veterans who woke up on Thursday managing about $565 million at Morgan Stanley in New York, Texas and Illinois accelerated moves to Stifel and RBC so they wouldn’t have to worry about being sued by their former firm.
Newly aggressive U.S. brokerage unit of Canadian bank hires another big team from a wirehouse.
Paul Murans, who owns Kentucky Derby thoroughbreds and reportedly produced around $2 million at a wirehouse, has moved to independent firm Thurston, Springer in Indianapolis.
Group is the second this month to join the bank’s legacy Bear Stearns business from a Morgan Stanley branch in midtown Manhattan.
St. Louis-based firm in the past week hired producers who were working separately for the wirehouse in Florida, Montana and New York.
Broker with big “institutional” business takes at least three people with him to Walnut Creek branch, while 10-year Merrill broker in Modesto takes some of his team to Raymond James.
Five former employees at a Princeton-area branch have left in recent weeks to join former branch manager Robert Beylickjian at rival firm.
Richard Tschetter leaves D.A. Davidson with $2 million-plus of production to form registered investment advisor with Charles Schwab as custodian.
Pennsylvania broker joining the advisory rollup leads team in Lebanon with $230 million in assets.
A million-dollar producer in Alexandria leaves without explanation while a call-center manager is appointed to unify firm’s two offices in the city.