U.S. Trust lures three advisers from Barclays Wealth

The firm named both Ray Schuville and George Jenckes private client advisers and Josh Glazer private client manager.
SEP 02, 2010
U.S. Trust, the wealth management unit of Bank of America Corp., said this week it has hired three advisers from rival firm Barclays Wealth. The firm named both Ray Schuville and George Jenckes private client advisers and Josh Glazer private client manager. All three will be based in New York. Mr. Schuville had worked at Barclays Wealth as a managing director since September 2008, when Barclays bought Lehman Brothers' American Private Investment Management business. Before Barclays, Mr. Schuville also worked at J.P. Morgan Chase as a senior investment banker, and he has more than 30 years of experience in the financial services industry, according to U.S. Trust's press release. Mr. Jenckes had also been with Barclays Wealth since September 2008, and at that firm he was a vice president and managed relationships for high-net-worth families, endowments and foundations. Like Mr. Schuville, Mr. Jenckes had also worked at J.P. Morgan Private Bank, where he was a global investment specialist. Mr. Glazer also joined from Barclays Wealth Americas, through its acquisition of Lehman Brothers' American Private Investment management business, where he was assistant vice president and managed relationships for wealthy families, endowments and foundations. Mr. Glazer focused on global investment strategy at the firm, including strategic and tactical asset allocation, within client portfolios. In their new roles at U.S. Trust, all three men will report to U.S. Trust's northeast regional executive for New York and North Carolina, Thomas Boehlke. U.S. Trust, which is part of BofA's Global Wealth & Investment Management unit, is responsible for $308 billion in client assets, and has 140 offices in 32 states.

Latest News

Cerulli: Advisors struggle to turn 401(k) savers into wealth clients
Cerulli: Advisors struggle to turn 401(k) savers into wealth clients

Just over 10% of advisors' wealth clients come from defined contribution plans, as capacity, data and technology gaps block the bridge to wealth

Alto to buy Forge Trust from Schwab in self-directed IRA push
Alto to buy Forge Trust from Schwab in self-directed IRA push

Deal creates a $20B-plus custody platform for private market investing in IRAs, months after Schwab closed its Forge Global purchase

Wall Street bonanza! The Street on track to hit a record $90 billion in profits: Report
Wall Street bonanza! The Street on track to hit a record $90 billion in profits: Report

Despite the good times, advisors should tread carefully, said one veteran industry executive.

Most workers have retirement plans but no retirement strategy
Most workers have retirement plans but no retirement strategy

Gallagher data reveals a huge gap in financial confidence between employees who work with an advisor and those who don't.

Small employers are more open to pooled retirement plans
Small employers are more open to pooled retirement plans

PEP assets hit $34bn at year-end 2025 as advisors navigate mandate deadlines and a 48% employer interest rate.

SPONSORED Built on insurance experience to deliver on long-term promises

Knighthead Life entered the market with a competitive MYGA. A strong launch earned advisor confidence and paved the way for FIAs.

SPONSORED In the Age of AI, Trust Becomes the Advisor's Greatest Asset

As AI makes financial information more accessible than ever, Lana Hock explains why human judgment, trust, and empathy remain the qualities clients value most in a financial advisor