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Merrill Lynch and Wells Fargo Lose FAs to Janney

By Alex Padalka April 8, 2019

Janney Montgomery Scott has poached two wirehouse teams collectively managing $278 million, according to news reports.

Donna Judge and Scott Trevethan join Janney’s Glastonbury, Conn., office as Judge-Trevethan Wealth Advisors from Wells Fargo Advisors, where they managed $184 million, FA-IQ sister publication FundFire writes.

And Philip Fried and Robert Mouro join Janney’s Raleigh, N.C., office from Merrill Lynch, according to the publication. Operating as the Fried Mouro Group, the pair previously managed $94 million, FundFire writes.

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Calamos Claims Former BNY Mellon Exec

A BNY Mellon executive has left the firm to head Calamos Wealth Management’s wealth strategy and trust services, Calamos says.

Nancy Anderson will oversee growth in Calamos Private Trust’s fiduciary and trust business, based out of the firm’s headquarters in Naperville, Ill., according to a press release from the firm. She will work with Calamos’s advisors in Illinois as well as the company’s offices in Florida and New York, Calamos says.

Anderson was previously a senior wealth director at BNY Mellon Wealth Management in Chicago, serving as regional senior vice president overseeing a team handling trust planning and administration and various private-banking services, according to the press release. Prior to BNY Mellon, Anderson had stints at Merrill Lynch Trust, Citigroup Global Wealth Management and US Bank Private Client Reserve, Calamos says.

In January, Calamos scooped up a pair of financial advisors who were overseeing $400 million at BMO Private Bank.

And last month, Calamos nabbed a managing director at Wilmington Trust, where he led a team of financial advisors managing $11 billion under management and administration.

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Wilmington Trust Expands New York Wealth Management Practice

Last week, Wilmington Trust added two wealth managers in New York, the company says.

R.J. Nicolli, Jr., joins Wilmington Trust as private client advisor for the Central and Southern New York regions, the company says in a press release. He’ll focus on high-net-worth investors, entrepreneurs, families, business owners, foundations and endowments, the company says. Nicolli was previously a senior financial advisor at M&T Securities, Wilmington Trust says.

In addition, Devon Bruce joins Wilmington Trust as senior wealth investment advisor in the Central and Capital New York regions, where he’ll work with high-net-worth clients, foundations and endowments, according to the press release. Bruce was previously a director at Pathstone and Federal Street Advisors, Wilmington Trust says.

Wilmington Trust works with clients across the country and abroad from offices in the U.S. as well as London, Dublin, Paris and Frankfurt, according to the press release.

“We’ve experienced an extremely positive growth trajectory, with double-digit revenue increases, over the last several years,” Kenneth Williams, group vice president and regional sales manager for Wilmington Trust, says in the press release. “We are committed to growing our talent in order to meet new demands of our clients, and are thrilled to add R.J. and Devon to our leadership team.”

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New York Private Bank & Trust Takes Minority Stake in $1.5 Billion Advice Practice

Minneapolis-based advice practice NorthRock Partners, which manages $1.5 billion, has partnered with New York Private Bank & Trust, the bank says.

NorthRock offers financial management as well as in-house tax, trust and estate planning, family foundation, charitable and concierge services and advice on lifestyle management to affluent families in the Midwest, according to a press release from NYPB&T.

Through its subsidiary Emigrant Partners, NYPB&T is taking a minority stake in the wealth management firm, the bank says. NYPB&T is the largest privately held, family-owned and -operated bank in the U.S., according to the press release.

"Even an audience as particular as our high-performing sports and entertainment clientele will notice a deepened service offering through this partnership given the resources and relationships of NYPB&T,” Rob Nelson, NorthRock Partners’ CEO and founding partner, says in the press release.“The future for that division now becomes more promising and that’s only one segment of our clientele. Our Fortune 500 executives, entrepreneurs and business owners, and affluent families will experience an evolving menu of services as well."

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