Industry

Roy Seay and Carolyn Edwards each worked at UBS for 11 years and together had $850,000 in annual production.

In an effort to continue its national expansion, U.S. Trust, a unit of Bank of America, has hired 14 wealth management executives.

The brokerage adds Rob Pietroburgo from Wells Fargo to its Springfield, Ill., branch as part of its advisor and branch expansion strategy.

New advisor growth increased by more than 60% from a year earlier.

The company added six wealth executives in California, two in St. Louis, two in Washington state, one in Portland, Ore., one in Nasvhille, one in Portland, Maine, and one in Chicago.

Last year, wirehouses were hot. This year, they are not. At least not with banks trying to recruit additional registered representatives.

Hendel is set to start in New York in June as managing director and head of global prime brokerage.

Putnam Investments has created a new leadership structure for its fixed income investment operations. D. William Kohli, Michael V. Salm and Paul D. Scanlon, are now co-heads the firm's fixed income team of over 60 investment professionals, who manage nearly $60 billion in assets.

Whether they call it "aggressive recruiting" or poaching, financial services companies across the board are predicting the practice will intensify in the coming year, forcing many of them to sweeten their offers and actively seek out skilled professionals both within and outside the industry.

Janus Capital has hired George Maris as portfolio manager of the Janus Worldwide Fund, reporting to Janus co-CIO Jonathan Coleman. Maris comes to the firm from Northern Trust, where he ran both retail and institutional money.