STREET MOVES: Merrill Lynch Hires Two Barclays Financial Advisers – 4

07/31/2012 | 01:46pm US/Eastern

   By Brett Philbin 

Bank of America Corp.’s ( Bank of America Corp) Merrill Lynch Wealth Management unit hired Matt Celenza and Larry DiGioia, a team of high-producing financial advisers, from Barclays PLC’s ( Barclays PLC) U.S. wealth business, who worked just four months at the firm.

On July 6, Mr. Celenza and Mr. DiGioia joined Merrill Lynch in Los Angeles. The two advisers together generated $4.4 million in fees and commissions and managed $789.5 million in client assets.

Other members of the Barclays team who have joined Merrill Lynch include Linda Hayes, Andrea Shieh and Shannon Walker.

Before their short stint at Barclays, Mr. Celenza and Mr. DiGioia worked at Citigroup Inc. (C) for roughly seven years and remained at the Smith Barney brokerage joint venture with Morgan Stanley ( Morgan Stanley) for about three years, according to Financial Industry Regulatory Authority records.

A Barclays spokeswoman declined to comment on the team’s departure.

Last week, Merrill Lynch recruited seven brokers from Morgan Stanley Smith Barney who had a combined $4.6 million in annual production and managed about $560 million in client assets.

(Street Moves chronicles the migration of executives on Wall Street, with a particular emphasis on financial advisers with more than $1 million in annual production and who manage more than $100 million in client assets.)

Write to Brett Philbin at

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Tuesday, July 31st, 2012 EN

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