People Moves

Barclays Wealth Makes Another Round Of Hires In The US

Harriet Davies Editor - Family Wealth Report May 19, 2011

Barclays Wealth Makes Another Round Of Hires In The US

Barclays Wealth, part of the UK-listed bank, has continued to ramp up its US operations with the addition of five investment representatives to its Philadelphia, Chicago and Atlanta offices. The combined five IRs had over $35 million in trailing 12-month production and $18 billion in AuM.

Rosalie Hunter and Bill McCormack join Barclays Wealth’s Philadelphia office, with Hunter joining in the capacity of a managing director. Both join from JP Morgan and report to Scott Sheffer, regional manager for Philadelphia.

Hunter previously worked at JP Morgan advising ultra high net worth individuals, multi-generational families and corporate executives. She joined JP Morgan in 2002. McCormack was latterly the senior investor and market team leader for JP Morgan’s Mid-Atlantic region.

In Chicago, Brian Maddox joins Barclays Wealth as a managing director from Morgan Stanley Smith Barney. He joined MSSB in 1986 and worked there with HNW clients, as well as foundations, family offices, pension funds, investment advisors, and closed-end and mutual funds.

Also joining the wealth management firm’s Chicago office is Michael Schafer, who most recently worked at Goldman Sachs, where he specialized in advising clients on money market and short-duration fixed income investments. He joined Goldman Sachs in 2002.

Maddox and Schafer both report to Chris Williams, regional manager for Chicago.

In Atlanta, the bank has hired Jonathan Pakula from UBS. He joined UBS in 2000 as part of its acquisition of Paine Webber.

In March Barclays Wealth strengthened its US presence with the addition of 14 investment representatives to its New York, Miami, San Francisco, Los Angeles and Boston offices. Both rounds of hiring are part of a high-profile recruitment drive at the wealth management firm, which at the end of last year also hired seven advisors with a combined $2.24 billion in client assets to increase its presence in Boston, New York, Atlanta and Chicago.

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