By Andrew Welsch
Rockefeller Capital Management recruited a group of financial advisors from JPMorgan Chase's brokerage unit, where they had worked for a year after their former employer, First Republic Bank, collapsed.
Gary Pollock, Craig Pollock, and Anis Salah joined Rockefeller in two locations: San Francisco and Walnut Creek, Calif. They made the move last week. The team, which calls itself Pollock Salah Wealth Partners, reports to Brian Riley, western divisional director at Rockefeller, according to a news release from Rockefeller.
The Pollocks were on a team with Craig Valdes and Sheri Chang Yamaguchi, who are both still at J.P. Morgan, according to their profiles at BrokerCheck, a public database maintained by brokerage industry self-regulator Finra. The Pollock, Chang Yamaguchi, and Valdes team had $966 million in assets as of January, according to Forbes. Valdes had previously worked at First Republic, but not Chang Yamaguchi, who has worked at J.P. Morgan since 2011.
A spokeswoman for J.P. Morgan declined to comment. A spokeswoman for Rockefeller didn't respond to a request for additional information.
In addition to its financial advisors, Pollock Salah Wealth Partners includes financial analyst Annette Smith, senior client associate Maryann Jensen, and registered client associate Ethan Huang.
Gary Pollock cofounded Bay Isle Financial in 1986, managing the operations and investment process for individual clients, according to Rockefeller. In 2004, he joined First Republic.
Craig Pollock began his career as an equity research analyst at Bay Isle. He later held operations, sales, and consulting roles at First Republic and other companies before transitioning to a wealth manager role at the bank in 2019.
Salah had worked at First Republic for 15 years, first as an analyst and operations specialist, before becoming a wealth manager in 2021.
First Republic was an aggressive recruiter of advisors and built out a substantial wealth management unit to complement its private banking operations. The bank collapsed during last year's regional bank crisis after it hemorrhaged billions of dollars of deposits. JPMorgan Chase acquired it and its elite financial advisors in May.
Rockefeller is the wealth management unit of the family office of American business magnate John D. Rockefeller. Established in 2018 as an independent financial advisor firm for wealthy and ultrawealthy families and institutions, it has been recruiting advisors from the large national brokerages. Before First Republic collapsed, Rockefeller also lured away some talent from the regional bank. The firm says it oversaw $122 billion in client assets across its three businesses, which include a family office and asset manager, as of Dec. 31.
Write to Andrew Welsch at andrew.welsch@barrons.com
This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
March 25, 2024 16:32 ET (20:32 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
Comments