Merrill Lynch Global Wealth Management, now a unit of Bank of America, has recruited a raft of advisors from Smith Barney, Wells Fargo and UBS. News of the hires comes amid media reports that Merrill is stepping up recruitment, luring big-hitting advisors with one of the highest remuneration packages in the industry.

Smith Barney, Citigroup’s brokerage arm, was hardest hit by Merrill’s hiring spree, losing eight advisors to its rival.

Bruce Micheel, a Citigroup veteran of 16 years, and Marc Gamberdella, who had been with the firm 11 years, joined Merrill’s Santa Barbara, California office. Together they had $250 million in assets under management and $1.9 million in production.

Merrill’s Towson, Maryland office was boosted by the addition of William Boykin, Robin Smith, and Matthew Margolies from Smith Barney. Having spent six, fourteen and seven years with Citigroup respectively, the trio had $214 million in client assets and $1.5 million in production.

Smith Barney also saw the departure of Jeff Sweers, who had $127 million in client assets and $1.2 million in production, for Merrill’s Santa Fe, New Mexico office. He had been with Citigroup for eight years.

Meanwhile, Jonathan Markoe and Mark Finelli, who had $100 million in assets and $1 million in production, have also been recruited for Merrill's Marlton, New Jersey office; both had spent four years at Smith Barney.

Also among the hires, David Harris and Christopher Buccheri joined Merrill's office in Bel Air, Maryland from Wells Fargo Advisors (formerly known as Wachovia Securities). While at the firm the pair had $151 million in assets under management and $1.8 million in production; respectively they had spent 13 and 16 years at Wachovia and its predecessor firm.

Finally, Merrill’s Houston Galleria, Texas office was boosted with the addition of Victor Barrionuevo and Roman Reed from UBS. Messrs Barrionuevo and Reed, who had been with the Swiss firm for nine and seven years, managed $168 million in assets and had $2.6 million in combined production.