B. Riley nabs Alex. Brown adviser managing $325 million

Jay Murphy joins wealth management office in Boston financial district as a senior managing director of investments.

Jay Murphy, who managed $325 million at the Alex. Brown division of Raymond James, has joined the Boston office of B. Riley Wealth as a senior managing director of investments.

B. Riley Wealth is a subsidiary of B. Riley Financial (RILY).

Murphy has extensive experience writing investment policies and in advising, constructing, and monitoring multi-manager portfolios for wealthy families, fiduciaries, retirement plans, and foundations, B. Riley said in a press release Monday. In addition to investment advisory and management, Murphy works with private institutional clients on private equity and real estate investment solutions.

Murphy’s addition coincides with the branch’s recent relocation to Boston’s financial district.

Murphy had been with Alex. Brown for 11 years. He started his career in 1979 at Merrill Lynch and has spent time at several large firms including Bear Stearns, Donaldson Lufkin Jenrette and Credit Suisse.