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ON THE MOVE-Merrill Lynch nabs three more brokers from Barclays

Tue, 30th Jun 2015 16:31

NEW YORK, June 30 (Reuters) - Bank of America's MerrillLynch said Tuesday it hired three more financialadvisers from the recently sold Barclays Plc's U.S.wealth and investment management unit, adding to a cadre ofadvisers Merrill has poached from the Barclays unit this month.

Barry Schneider, Cris Bera and Chris Dewhurst joined MerrillLynch's elite Private Banking & Investment Group in Houstonwhere the three had managed around $750 million at Barclays formostly high net worth clients in the oil and gas industry. Theadvisers were not available for comment.

Schneider, 70, got his start at Goldman, Sachs & Co, andlater worked for Morgan Stanley and Lehman Brothers beforejoining Barclays. Schneider's colleagues, Bera, 45, andDewhurst, 36, also spent time at Lehman Brothers before joiningBarclays.

Barclays did not respond to a request for comment.

Earlier this month, Merrill Lynch said it hired a dozenadvisers from Barclays, including Michelle Motsko and MichaelBrodnik in Washington who had produced $3.2 million in annualrevenues over the last year at Barclays.

U.S. investment bank Stifel Financial Corp confirmedit would buy Barclays wealth unit earlier this month. (Reporting by Elizabeth Dilts; Editing by Phil Berlowitz)

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