Barclays snags $750M team from Morgan Stanley

Barclays Wealth has hired Don Milich and Clifford Wang as investment representatives, based in Atlanta, as part of its effort to continue growing its wealth management operations in the U.S. Mr. Milich, a director, and Mr. Wang, a vice president, join from Morgan Stanley Private Wealth Management. They advise on roughly $750 million in assets and generate just under $1 million in trailing 12-month production, according to a spoksewoman for Barclays. With the addition of Mr. Milich and Mr. Wang, Barclays Wealth has, in the last eight weeks, hired three teams with a combined $40 million in annual production, the spokeswoman added. (View these latest additions here.) “We are pleased to have Don and Clifford join our Atlanta office. With over 35 combined years of experience in the Southeast, they have a deep understanding of the regional business,” said Mitch Cox, managing director, head of Barclays Wealth, Americas and head of global investments and research, in a statement. “Barclays Wealth is committed to serving high net worth clients in the Americas and expanding its presence in the region.” About Barclays Wealth Barclays Wealth is a leading global wealth manager, and the UK's largest, with total client assets of $241 (£151.2bn) as of December 31, 2009. With offices in over 20 countries, Barclays Wealth focuses on private and intermediary clients worldwide, providing international and private banking, investment management, fiduciary services and brokerage. Barclays Group is a major global financial services provider engaged in retail and commercial banking, credit cards, corporate banking, investment banking, wealth management and investment management services with an extensive international presence in Europe, the Americas, Africa and Asia.