Top-ranked Merrill Lynch advisor joins J.P. Morgan Securities
J.P. Morgan Securities landed a former Merrill Lynch team that oversaw roughly $1.1 billion and generated production in excess of $4 million, making it the firm’s biggest hire of 2020.
The Campbell Group, led by Gwen Campbell, joined J.P. Morgan Securities on Oct. 21 in San Francisco. Moving with her are fellow team members Derek Popp, Brian Mascatello and Timothy Cahyadi.
Campbell is a top-ranked advisor on two Forbes lists: America's Top Women Advisors 2020 and Best-In-State Wealth Advisors 2020. She started her career at Goldman Sachs in 1993, according to FINRA BrokerCheck. Campbell later transitioned to UBS in 2004, and then to Merrill Lynch in 2008.
Of her move to J.P. Morgan, Campbell said in a statement that the company “offers the resources my clients deserve and unique career opportunities not available at other firms to my team.”
Chris Harvey, CEO of J.P. Morgan Securities, said the new recruits underline the firm’s commitment “to keep investing in the Bay Area.”
A Merrill Lynch spokeswoman confirmed Campbell's departure.
JPMorgan Chase is striving to expand its wealth management business, according to the firm. Its operations include J.P. Morgan Securities, which caters to wealthy clients, a robo advisor and bank-based brokers.
Last year, the bank appointed Kristin Lemkau to oversee the reorganized wealth management unit. She has since unveiled a new leadership team and hired former Merrill Lynch executive Phil Sieg as its new head of practice management.
Wealth management represents “tremendous opportunity” for JPMorgan, Lemkau said Oct. 19 at the virtual SIFMA conference.
The bank plans to invest and grow the business, seeing it as a natural expansion opportunity. “If you think about what clients need, they need to plan, invest, bank and borrow. JPMorgan is already a leader in all four things,” she said.