Raymond James & Associates has lured a $900m advisory team from JPMorgan Securities to open its first office in Manhattan.
The four-person advisory team includes Howard Franzblau, Richard Devine, Wayne Froud and David Brennan and will operate as Quattuor Capital Partners of Raymond James.
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Quattuor Capital Partners will be led by Franzblau, while Brennan will serve as branch manager.
Additionally, senior investment management specialists Jason Franzblau and Al Myrie as well as senior registered sales associates Stacy Galli and Yvette Viani and senior sales associate Mitzi Phillips will also join the new team.
The team previously generated $6.7m in annual revenue.
Franzblau, who joined Raymond James in 2014, started his career as a financial advisor at Merrill Lynch, then joined Oppenheimer and remained there for 17 years prior to moving to Bear Stearns.
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By GlobalDataPrior to joining JPMorgan Securities, Brennan served as managing director, head of the corporate and executive services group and founder of the Professionals Alliance Group at Oppenheimer. He also worked with Citibank and Merrill Lynch.
Devine also spent 17 years at Oppenheimer as a senior vice president of private client services, as well as a managed money consultant, prior to moving to Bear Stearns. He began his career at Drexel Burnham Lambert.
Before joining Raymond James, Froud spent the past 10 years at Bear Stearns and JPMorgan. Froud also worked with Merrill Lynch in Sydney, Australia and at Oppenheimer.
Tash Elwyn, president of Private Client Group at Raymond James & Associates, said: "We are delighted to have attracted such a high quality team to plant the first Raymond James & Associates flag in Manhattan and continue our objective of expanding our footprint throughout the Northeast."
