Wells Fargo has poached Michael Liersch from JPMorgan Chase to serve as the head of Advice and Growth Strategies for Private Wealth Management, a unit within Wealth & Investment Management.
At Wells Fargo, Liersch will spearhead the team tasked with delivering planning services and growth strategies for Wells Fargo Private Bank and Abbot Downing clients.
He will operate out of New York City.
Liersch was the managing director and global head of Wealth Planning & Advice at JPMorgan.
He led Behavioral Finance at both Bank of America-Merrill Lynch and held a similar role at Barclays Wealth, Americas as well.
Wells Fargo Private Wealth Management head Julia Wellborn said: “Michael’s extensive experience, his diverse background in behavioural finance, and his deep understanding of our clients’ complex planning needs are a natural fit for this new role.
“With his unique qualifications, Michael’s arrival at Wells Fargo at this unprecedented time will enhance our ability to serve clients who are looking for advice now more than ever.”
Wells Fargo Private Wealth Management caters to HNW and UNHWIs, business owners, and family offices.
Private Wealth Management administered $213bn in client assets and deposits at the end of December 2019.
Last month, Wells Fargo appointed Barry Sommers as the new CEO of its Wealth & Investment Management unit.