Merrill Lynch has hired Michael O'Keefe to run investment management and guidance in its Global Private Client Group. The position, which was created specifically for O'Keefe, will involve choosing the third-party managers and mutual funds that Merrill advisors recommend to their clients. O'Keefe had worked for Wilshire Associates for the past 18 years, running its Fund Management Group, which he founded.
Tom Matthews, president and CEO of Smith Barney's global private client group, has retired after 29 years with the firm. He is being replaced by Charles Johnston, who was most recently national director of sales at Smith Barney.
Oppenheimer continues to hire brokers in its Los Angeles office, most recently adding a large team, known as the Compass Group, from Wachovia Securities. The team, comprised of Stephen Wilshinsky, Dana Goldfarb and Ron Kunze, reportedly has about $200 million in assets. Wilshinsky and Goldfarb had been with Wachovia for four years; Kunze for the last two. The team reports to branch manager Richard Wisely, who has been with Oppenheimer, and its predecessor, CIBC, for 20 years.
Meanwhile, top producer Mari McCain has left Oppenheimer in Houston to join Southwest Securities. She had been with Oppenheimer for a year, and had previously worked at Raymond James.
A Wachovia Securities team has left the firm to join H&R Block Financial Advisors. John Price and Rick Tuberosa, along with associates Brad Gellert and Kris DiSalvo, have left their business to be vice presidents of investment. The Sun City Center, Fla.-based advisors have assets under management of more than $160 million.
Gerry Burchard has left Round Hill Securities. Burchard was president of the Alamo, Calif.-based independent broker/dealer, which has about 130 advisors affiliated with the company. He did not leave for another job, although reports were that his leave was voluntary. A person who answered at Burchard's office said that a replacement had not yet been found. Burchard, who worked for Round Hill for nine years, declined comment.