Career moves

J.P. Morgan Securities picked up an industry veteran, the latest U.S.-based advisor to depart from Credit Suisse.

After only two months in the role, Roth is being replaced by a restructuring specialist. RCS recently said it would file for bankruptcy.

The prescription for holding on to top talent at the major brokerages starts with compensation, writes recruiter Mark Elzweig.

The firm has had "significant expansion" with fast-growing teams in Chicago and St. Louis, which it expects to continue.

RBC's newest recruits generated $1.8 million in annual production, the firm said.

Merrill Lynch hired Fabio Concesi as an international wealth strategist. Concesi previously worked at Citibank.

The former wirehouse advisor previously generated $1 million in annual revenue, according to RBC.

The independent firm founded by several former wirehouse managers picked up two recruits who generated $1.5 million in annual production.

CEO John Taft warns that regulatory scrutiny will increase, but adds that the long-term goal a unified fiduciary standard of care will still benefit clients and advisors.

John Taft will be the latest head of a major brokerage firm to exit the business, following UBS' Bob McCann and Morgan Stanley's Greg Fleming.