Industry

J.P. Morgan Asset Management has hired James Gearin as chief operating officer of its retirement plan services business, reporting to the unit’s CEO, David Musto.

Janney Montgomery Scott has hired financial advisor James A. Baber IV, who previously oversaw $61 million in client assets, to join the Strange Group in the firm’s Richmond, Va. office.

Bank of America Merrill Lynch has hired Wells Fargo financial advisor Adam Gurien, who previously oversaw $283.3 million in client assets.

UBS on Tuesday said it will eliminate 3,500 jobs over the next two years in a cost-cutting move.

Advisor Group names Jerry Murphy as president and chief executive officer of Atlanta-based FSC Securities, the company announced on Monday.

Tom Steinert-Threlkeld

Bank of America will lay off at least 3,500 employees in the next few months.

In its attempt to deliver additional quality buy-and-hold alternative investments to investors, Direxion has hired Edward Egilinsky as managing director, head of alternative investments.

HighTower Advisors continues its roll-up expansion strategy with the hiring of Greycourt & Co. financial advisor Margaret M. Towle, who previously oversaw $1 billion in client assets.

In its attempt to deliver additional quality buy-and-hold alternative investments to investors, Direxion has hired Edward Egilinsky as managing director, head of alternative investments.