Smith Barney has started off the new year right with a recruiting victory. The firm recently hired three Merrill Lynch reps and one UBS advisor.
On Friday, Carlos Kuri and Luis Guiterrez officially joined Smith Barney’s Houston branch, bringing with them $100 million in client assets, and total revenue of nearly $1.5 million.
That same day, Barbara Hetzer joined Smith Barney’s Purchase, N.Y., branch with $124 in assets under management, and a gross production of nearly $725 million. Hetzer left Merrill after 14 years with the firm.
Merrill isn’t the only one losing reps to Smith Barney. Yesterday, UBS lost $900,000 producer Marc Strasser to Smith Barney’s Boca Raton, Fla., office which manages about $8.5 billion. Strasser spent the last 18 years at UBS, and brought with him $200 million in client assets.