Jefferies' wealth management unit lured away a Wells Fargo team that oversaw $1.5 billion in assets, according to a person familiar with the matter.
The Miami-based group, which specializes in serving high-net-worth and ultrawealthy clients from Argentina, Brazil and Uruguay, generated $7.3 million in annual revenue, the person says.
A spokesman for the company confirmed the new hires joined Friday, but declined to comment further.
This is the first team to join Jefferies since the firm tapped Robert Peyreigne, an ex-Morgan Stanley complex manager, as its new CEO last November.
It's also one of the largest new hires of the year so far. Last month, J.P. Morgan Securities landed a $1 billion Morgan Stanley team, the firm said.
Jefferies’ new recruits include Marcelo Poliak, Pablo Gherardi, Guillermo Guerra and Nicholas Coubrough. Poliak, Gherardi and Guerra had been with Wells Fargo for more than a decade, according to FINRA BrokerCheck records. Coubrough joined the wirehouse from Merrill Lynch in 2015.
Ernesto de la Fe oversees Jefferies' international wealth management unit for the Americas region. He joined the firm two years ago from Morgan Stanley, and is also based in Miami.
A Wells Fargo spokeswoman declined to comment on the advisers' departure.
Register or login for access to this item and much more
All On Wall Street content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access