Merrill Lynch

The recruit is joining an existing practice, boosting the team's assets to $1 billion, according to the firm.

Profits rose 8% year-over-year at the bank's Global Wealth & Investment Management unit, which includes Merrill Lynch and U.S. Trust.

The largest recruits managed more than $17 billion in client assets.

The regional firm also says it recruited a junior Merrill adviser overseeing $39 million in client assets.

The team's managing director is a wirehouse veteran with close to 30 years of industry experience.

Meanwhile, the SEC hints that more actions could follow the $425 million in penalties levied against the brokerage firm.

Also, J.P. Morgan saw a team managing $300 million in client assets go independent.

The new hire will oversee manager research, the selection process and monitoring activities for the firm's Wealth Management Investments Group in New York.

The recruit was overseeing 100 advisers responsible for $15 billion in client assets before joining the breakaway firm.

Prior to her financial services career, the recruit was a U.S. Army reservist working as a Russian linguist.