Barclays Loses Advisor to Deutsche Asset & Wealth Management
A Barclays advisor has left the firm to join Deutsche Asset & Wealth Management.
Kevin Laurie joined Deutsche as a director and client advisor in the firm's private client services office in New York where he will report to John Sutton, managing director and regional executive.
Laurie is a veteran of industry, having started his financial services career in 1987 with Salomon Brothers, according to FINRA records. He later joined Morgan Stanley in 1991, and moved to Lehman Brothers in 2001. Laurie had been at Barclays since September 2008, where he served as a director and financial advisor.
Deutsche has been on a recruiting push as part of its plans to build up its wealth management business in the United States, particularly on the West Coast and Texas where the firm has not been as well represented.
"We want to be the lead advisor to both high-net-worth and ultrahigh-net-worth clients across the U.S. And we will continue to invest in our business to make sure we can [fulfill that ambition]," said Jerry Miller, head of head of asset & wealth management, in a recent interview with On Wall Street.
Last month, Deutsche recruited managers from Morgan Stanley and J.P. Morgan. Lee Hutter, a former J.P. Morgan managing director, became a regional executive for Deutsche in Los Angeles where he will oversee the German firm's Western region.
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